Beacon Expands Service With Four New Locations in Alabama, Arizona, Florida and Washington

Rhea-AI Summary

Beacon (Nasdaq: BECN), a leading wholesale distributor of roofing, waterproofing, and exterior products, has expanded its service with four new locations in Alabama, Arizona, Florida, and Washington. The new branches are located in:

• Pelham, Alabama (serving Birmingham metro area)
• Queen Creek, Arizona (serving east Phoenix corridor)
• Port St. Lucie, Florida (serving Treasure Coast's residential contractors)
• Bellingham, Washington (serving residential and commercial markets)

These expansions are part of Beacon's Ambition 2025 plan, which aims to enhance customer service through additional locations. The company exceeded its Ambition 2025 revenue and shareholder return targets in 2023 and continues to progress towards achieving its full potential.

Positive

• Expansion of service with four new locations in strategic areas
• Enhanced product offerings and service capabilities in growing markets
• Improved efficiency through shared resources and networked branches
• Access to Beacon PRO+ app for contractors to improve business efficiency
• Exceeded Ambition 2025 revenue and shareholder return targets in 2023

Negative

• None.

Insights

Market Research Analyst

Beacon's expansion with four new locations in key markets demonstrates a strategic move to strengthen its distribution network and market presence. This aligns with the company's Ambition 2025 plan, which has already shown success by exceeding revenue and shareholder return targets in 2023.

The new branches in Alabama, Arizona, Florida and Washington are positioned to serve growing metropolitan areas and complement existing locations. This expansion strategy allows Beacon to:

• Enhance product offerings and service capabilities
• Improve efficiency through resource sharing among branches
• Provide better access to their proprietary TRI-BUILT® product line
• Offer digital tools like the Beacon PRO+® app to contractors

While this expansion is positive for Beacon's growth trajectory, the impact on immediate financial performance may be However, it positions the company well for long-term market share gains and potential revenue growth in these regions. Investors should monitor how these new locations contribute to overall sales and operational efficiency in the coming quarters.

HERNDON, Va.--(BUSINESS WIRE)-- Beacon (Nasdaq: BECN), the leading publicly-traded wholesale distributor specializing in roofing, waterproofing and exterior products, announced today that it has opened new locations in Pelham, Alabama, Queen Creek, Arizona, Port St. Lucie, Florida and Bellingham, Washington.

The new branch in Pelham, Alabama serves the Birmingham metro area. “This is our second location in the growing Birmingham market, chosen specifically to complement our existing branch. We are now able to expand our product offering and enhance service to contractors in all segments of the business, commented Lynn France, Regional Vice President, Southeast.

The new branch in Queen Creek, Arizona serves the growing east Phoenix corridor. “Roofing and waterproofing contractors now have five Beacon locations to serve them in metro Phoenix. Our branches work together to share resources and serve customers efficiently. We are proud of this differentiated business model that puts customers first, making them the center of our business,” noted Justin Hinze, Regional Vice President, Mountain.

The new branch in Port St. Lucie, Florida serves the Treasure Coast’s residential contractors in Indian River, St. Lucie and Martin counties. “This branch, along with our locations in Fort Pierce, Stuart and Vero Beach form a Beacon OTC® Network that provides a complete product catalog, including roofing materials, metal roofing, tile, underlayment and more, delivered on-time and complete. We are also pleased to give roofing contractors in the area access to the Beacon PRO+® app to run their businesses more efficiently,” explained Jack Gill, Regional Vice President, Florida.

The new branch in Bellingham, Washington serves the area’s residential and commercial markets. “Contractors in this desirable geography now have a convenient Beacon branch dedicated to serving them. With products including Beacon’s own TRI-BUILT® line of high-quality low slope and steep slope roofing materials, we are delivering value to every customer while helping them grow their business,” commented Alvin Cung, Regional Vice President, Northwest.

Expanding our customer service with additional locations is an important element of our Ambition 2025 plan. Beacon exceeded its Ambition 2025 revenue and shareholder return targets in 2023 and continues to advance on achieving its full potential.

About Beacon

Founded in 1928, Beacon is a publicly-traded Fortune 500 company that distributes specialty building products, including roofing materials and complementary products, such as siding and waterproofing. The company operates over 570 branches throughout all 50 states in the U.S. and 7 provinces in Canada. Beacon serves an extensive base of nearly 100,000 customers, utilizing its vast branch network and service capabilities to provide high-quality products and support throughout the entire project lifecycle. Beacon offers its own private label brand, TRI-BUILT®, and has a proprietary digital account management suite, Beacon PRO+®, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241001070100/en/

INVESTOR CONTACT

Binit Sanghvi

VP, Capital Markets and Treasurer

Binit.Sanghvi@becn.com

972-369-8005

MEDIA CONTACT

Jennifer Lewis

VP, Communications and Corporate Social Responsibility

Jennifer.Lewis@becn.com

571-752-1048

Source: Beacon

FAQ

Where are Beacon's (BECN) new locations opened in 2024?

Beacon (BECN) opened new locations in Pelham, Alabama; Queen Creek, Arizona; Port St. Lucie, Florida; and Bellingham, Washington.

How many Beacon (BECN) locations are now serving the Phoenix metro area?

With the addition of the Queen Creek branch, Beacon (BECN) now has five locations serving roofing and waterproofing contractors in the metro Phoenix area.

What is Beacon's (BECN) Ambition 2025 plan?

Beacon's (BECN) Ambition 2025 plan includes expanding customer service through additional locations. The company exceeded its revenue and shareholder return targets for this plan in 2023.

What products does Beacon (BECN) offer at its new Port St. Lucie, Florida location?

Beacon's (BECN) Port St. Lucie location offers a complete product catalog including roofing materials, metal roofing, tile, underlayment, and more.