The 2020 Mid-Year Economic Update_long

Beacon Roofing Supply Sales Grow 63.9% in 3Q

Beacon Roofing Supply, Peabody, MA, announced sales for the third quarter ended June 30, 2006, were up 63.9% to $407.1 million, reflecting sales from companies acquired since last year’s third quarter and internal growth of 5.4%.


 


Strong sales of residential roofing and moderate growth in complementary building products offset a slight decline in non-residential roofing sales. The company opened six new branches since last year’s third quarter.


 


Net income for the third quarter was $17.1 million, an increase of 50.5% from last year.


 


Year-to-date, sales increased 72.5% to $1.07 billion from $619.8 million in 2005, reflecting sales from companies acquired and internal growth of 13%. For the first nine months, net income was $34.7 million, an increase of 54.5% from the same period a year ago.


Robert Buck, the Company’s President & Chief Executive Officer, stated, “Due in part to the mild winter during our second quarter and substantial rainfall during the third quarter, sales growth was weakest along the East Coast, especially in New England. Of our product groups, non-residential roofing sales were the weakest in these areas. In addition, we were up against a non-residential sales increase of 34% last year. On the other hand, a portion of our acquired markets continued to benefit from the Gulf Coast rebuilding. I am encouraged by the improvements in our gross margins as we continue our rapid growth and our continued expense controls under challenging circumstances. We will be working to bring the acquired companies’ expense rates more in line with our existing markets, which continued to improve their profitability.”


Beacon Roofing Supply, Inc. is a distributor of roofing materials and complementary building products operating 148 branches in 30 states and in Eastern Canada.

Related Links
Beacon 2Q Sales Increase 87.3% to $322.4M
Beacon Roofing Supply 1Q Sales Increase 70.6%
Beacon Roofing Supply Acquires Two More Distributors
Beacon Roofing Supply Acquires West Coast Distributor
Beacon Roofing Supply Profit Up 25% in 2005
Beacon Roofing Supply Continues on Acquisition Trail

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.