Beacon Roofing Supply is a leading distributor of roofing materials and related products for residential and commercial construction projects
The company serves a wide range of customers, including contractors and builders, by providing a comprehensive selection of roofing, siding, and other building materials. Beacon Roofing Supply focuses on delivering high-quality products, exceptional customer service, and expert support to help clients meet their project needs. Through a vast network of locations across the United States and Canada, the company is well-positioned to serve diverse markets while promoting sustainable building practices.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the industrial distributors industry, including Beacon Roofing Supply (NASDAQBECN) and its peers.
Beacon Roofing Supply trades at $112.85 and has moved in lockstep with the market. Its shares have returned 17.9% over the last six months while the S&P 500 has gained 14.2%.
The consequences of hurricanes like Helene and Milton are—typically—quickly shrugged aside by markets as one-off events. That is mostly correct. But not entirely so. For some companies, the revenue and earnings hits are “unrecoverable.”
Roofing materials distributor Beacon Roofing Supply (NASDAQBECN) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 7.3% year on year to $2.77 billion. Its GAAP profit of $2.30 per share was 10.7% below analysts’ consensus estimates.
Global temperatures continue breaking records in July 2024. This trend is caused by human impact on the climate and led to extreme weather events and potential investment opportunities in companies producing air-conditioning units.
BECN stock results show that Beacon Roofing Supply missed analyst estimates for earnings per share and missed on revenue for the second quarter of 2024.
