Welcome to our dedicated page for Beacon Roofing Supply news (Ticker: BECN), a resource for investors and traders seeking the latest updates and insights on Beacon Roofing Supply stock.
Beacon Roofing Supply, Inc. (NASDAQ: BECN) stands as one of North America's largest distributors of residential and non-residential roofing and complementary building products. With a comprehensive network encompassing 359 locations across 45 states in the U.S. and 6 Canadian provinces, Beacon proudly employs over 4,000 dedicated professionals. Our reputation in the building supply industry is founded on the principles of quality people, quality service, and quality products.
Beacon primarily caters to contractors, home builders, lumberyards, retailers, wholesale distributors, and building materials suppliers. Our extensive product portfolio includes residential and non-residential roofing materials, siding, windows, and waterproofing systems, with the majority of our revenue generated from roofing products. A significant portion of our revenue emanates from the United States.
Founded in 1928, Beacon has grown to become a Fortune 500 company, and our stock is actively traded on the Nasdaq Global Select Market under the ticker symbol BECN. We are recognized for our robust branch network and diverse service offerings, which enable us to serve nearly 100,000 customers effectively. Our private label brand, TRI-BUILT®, and our proprietary digital account management suite, Beacon PRO+, allow customers to manage their businesses seamlessly online.
Beacon's continuous commitment to innovation and customer satisfaction is evident in our recent achievements. We have recently announced the commencement of an underwritten secondary public offering of 5,218,134 shares of our common stock by CD&R Boulder Holdings, L.P., with RBC Capital Markets acting as the sole underwriter. This offering, expected to close soon, showcases our dynamic and growth-oriented approach.
With regional brands like Alabama Roofing Supply, All Weather Products, Beacon Roofing Supply Canada Company, Beacon Sales, Best Distributing, Cassady Pierce, and Coastal Metal Service, we maintain a strong and diverse market presence. Beacon remains dedicated to expanding its footprint and enhancing its product and service offerings to better serve our extensive and varied customer base.
For those interested in joining our team, we invite you to explore career opportunities available on our corporate website. Our commitment to fostering a supportive and engaging work environment ensures that our employees can thrive and contribute to our ongoing success.
Beacon (Nasdaq: BECN) is hosting Day 2 of its Analyst and Investor event in Houston, Texas, presenting its strategic plan aimed at enhancing stockholder value. The board has authorized a $500 million share repurchase program, reflecting confidence in the company's operations. Beacon's Ambition 2025 targets project an 8% CAGR in net sales, reaching approximately $9 billion, and a 15% CAGR in adjusted EBITDA, aiming for $1 billion. The initiative underscores a commitment to cash generation and strategic capital deployment, enhancing shareholder returns.
Beacon (BECN) has published its inaugural Corporate Social Responsibility (CSR) Report, emphasizing its commitment to environmental sustainability, employee well-being, and ethical governance. The report highlights a goal to reduce greenhouse gas emissions by 50% by 2030 and showcases that over 800 employees have reached over 20 years with the company. Beacon aims to share annual updates on its ESG initiatives, underlining its role as a responsible corporate citizen.
Beacon (Nasdaq: BECN) will host an Investor and Analyst event on February 23-24, 2022, in Houston, Texas. Presentations will be held on Day 1 from 3:30 pm to 5:00 pm CST and Day 2 from 8:00 am to 12:30 pm CST. Executives, including CEO Julian Francis and CFO Frank Lonegro, will discuss the company's growth strategies and financial outlook. A live webcast will be available on the company's Investor Relations website, with a replay accessible after the event. Founded in 1928, Beacon is a leading distributor of roofing materials in North America.
Beacon (Nasdaq: BECN) reported record financial performance for calendar year 2021, including net sales of $6.82 billion, a 12.2% increase from 2020. The company achieved a near-record net income margin and a double-digit Adjusted EBITDA margin for the first time. Fourth quarter net sales reached $1.75 billion, driven by a weighted-average selling price increase of 15-16%. Recent acquisitions of Midway Wholesale and Crabtree Siding bolstered market presence, while the divestiture of its solar products business sharpened focus on core operations. The company will outline future strategies at an upcoming Investor Day.
Beacon (Nasdaq: BECN) announced a refresh of its TRI-BUILT™ private label brand at the International Roofing Expo in New Orleans. The update features a new logo, tagline 'Built to Work', and a mascot to enhance brand identity and contractor confidence. TRI-BUILT offers a range of affordable, high-quality products for contractors. Since the 1990s, TRI-BUILT has helped contractors with dependable products, aiming to differentiate them in the market. This branding evolution is expected to increase visibility and appeal among its customer base.
On January 27, 2022, HOVER announced a partnership with Beacon (Nasdaq: BECN) to allow contractors to digitally order roofing materials through HOVER's platform. This feature utilizes HOVER's 3D measurements for precise material quantity calculations, enhancing efficiency and reducing waste. Beacon's VP of Marketing, Jamie Samide, highlighted the innovation as a way to meet contractors' needs. The new Direct Ordering feature is now available and aims to streamline the materials ordering process, ultimately improving project timelines and cost savings.
Beacon (Nasdaq: BECN) will release its earnings results for the transition period from October 1, 2021 to December 31, 2021 and for the calendar year ended December 31, 2021 on February 3, 2022, after market close. A conference call will be held at 5:00 p.m. ET to discuss the financial results. Beacon, established in 1928, is a leading distributor of roofing materials in North America, operating more than 400 branches. Investors can register for the call through the company’s website.
Beacon (Nasdaq: BECN) has announced the acquisition of Crabtree Siding and Supply, effective January 1, 2022. This strategic move aims to enhance Beacon's distribution capabilities in Tennessee, particularly in the underserved area between Nashville and Knoxville. Crabtree, known for its strong reputation, generates annual sales of approximately $1 million. The acquisition is expected to bolster customer service and supplier relationships, contributing to Beacon's expansion in the market.
Beacon (Nasdaq: BECN) has completed the sale of its solar products business to BayWa r.e., a prominent renewable energy developer. The Solar Products division generated approximately $111 million in net sales and $2.6 million in net income for the year ending September 30, 2021. CEO Julian Francis indicated that this divestiture aligns with their strategy to focus on core exterior customers. The acquisition enhances BayWa r.e.'s capabilities while creating marketing opportunities for both companies in the renewable energy sector.
FAQ
What is the current stock price of Beacon Roofing Supply (BECN)?
What is the market cap of Beacon Roofing Supply (BECN)?
What is Beacon Roofing Supply, Inc.?
Where does Beacon Roofing Supply operate?
What products does Beacon Roofing Supply offer?
How can I invest in Beacon Roofing Supply?
Who are Beacon’s main customers?
What is Beacon PRO+?
What are some of Beacon’s regional brands?
How many employees does Beacon have?
What recent financial activity has Beacon undertaken?
Does Beacon offer career opportunities?
