The 2020 Mid-Year Economic Update_long

Beacon Roofing Supply 1Q Organic Sales Down 4.6%

Total sales increased 4.9 percent.

Beacon Roofing Supply Inc. (Nasdaq: BECN), Peabody, MA, reported sales for the first quarter ended Sept. 30, 2013, of $513.7 million, an increase of 4.9 percent compared to the same period a year earlier.

Organic sales declined 4.6 percent for the quarter (7.7 percent based on the same number of business days). Profit fell 4.8 percent to $18.2 million.

Paul Isabella, president and CEO, said: "Our total sales benefited from the positive impact of several acquisitions made since the start of last year and our gross margin continued to improve over the prior year. The trend of our complementary product sales has been encouraging, considering the more discretionary nature of those products.

"Towards the end of the first quarter, we took advantage of our financial capacity and flexibility to purchase key products ahead of announced industry-wide price increases scheduled mostly for February and April."

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