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Beacon Roofing Supply, Inc. - BECN STOCK NEWS

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.

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Beacon (Nasdaq: BECN) has announced the opening of 49 new branches in 2023, including new locations in Conroe, TX and Goldsboro, NC. The expansion aims to serve residential and commercial roofing contractors and lumberyards, with a focus on providing high-quality products and services. Beacon's Ambition 2025 plan emphasizes footprint expansion to drive above-market growth and better serve customers.
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Beacon (Nasdaq: BECN) announces preliminary above expectations results for Q4 and full year 2023, exceeding Ambition 2025 targets. Carmelo Carrubba appointed as Interim Chief Financial Officer. Net sales for Q4 expected to be $2.3 billion, with full-year sales expected to be $9.1 billion. Gross margins for both periods at 25.6-25.7%, net income for Q4 estimated between $92-96 million, and full-year net income between $432-436 million.
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Beacon (Nasdaq: BECN) announces the opening of 26 new branches in Georgia, Illinois, Iowa, South Carolina, and Texas in 2023 to serve residential roofing, commercial roofing, and waterproofing contractors. Beacon has opened new locations in Austell, GA, Marquette Heights, IL, Des Moines, IA, North Charleston, SC, and Bastrop, TX. These new branches aim to support the growing population and contractor businesses in these areas, providing roofing and complementary products, as well as specialized waterproofing products for construction projects. Beacon has also completed nine acquisitions in 2023 as part of its Ambition 2025 plan to drive above-market growth and better serve customers.
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Beacon (NASDAQ: BECN) announced the pricing of a secondary public offering of 5 million shares of common stock by CD&R Boulder Holdings, L.P. The offering is expected to close on December 11, 2023, with an underwriter's option to purchase an additional 750,000 shares. Beacon will not receive any proceeds from the sale, and the total number of shares outstanding will not change. The last reported sale price on December 6, 2023, was $82.15 per share.
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Beacon (NASDAQ: BECN) announced the commencement of an underwritten secondary public offering of 5 million shares of Beacon's common stock by CD&R Boulder Holdings, L.P. RBC Capital Markets is acting as the sole underwriter in the registered public offering of those shares. The last reported sale price on the Nasdaq Global Select Market of Beacon common stock on December 5, 2023, was $82.69 per share.
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Beacon (Nasdaq: BECN) reaffirms its outlook for full year 2023, including a departure of its Chief Financial Officer and a formal search for a replacement. The company also reaffirmed its 2023 full year Adjusted EBITDA expectations and expects to exceed Ambition 2025 revenue and shareholder return targets.
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Beacon (Nasdaq: BECN) has opened new locations in Riverside, California and Houston, Texas to serve residential and commercial contractors. The Riverside, CA branch is in the Inland Empire region of Southern California, catering to the fast-growing population centers. The Houston, TX branch is strategically located along the busy 288 corridor, adding another lever to serve customers. Beacon has opened 21 greenfields and completed nine acquisitions in 2023 as part of its Ambition 2025 plan for above-market growth.
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Beacon (Nasdaq: BECN) - Beacon of Hope program continues to give back to Veterans with new roof replacements. The annual initiative, now in its fifth year, awards 10 Veterans with roof replacements in collaboration with local roofing companies. Beacon's Chief Commercial Officer, Jonathan Bennett, emphasizes the importance of reciprocating the support for Veterans and encourages others to become a 'Beacon of Hope'. The recipients, nominated by people across the U.S. and Canada, reflect Beacon's core values of putting people first and doing the right thing.
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Beacon (Nasdaq: BECN) announced outstanding third quarter results, driven by execution on growth initiatives. Net sales reached $2.58 billion, a Company record. Gross profit was $672.6 million, with a gross margin of 26.0%. Net income was $161.3 million, and Adjusted EBITDA was $309.6 million. The Company repurchased all outstanding convertible preferred shares and approximately $25 million worth of common shares.
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Beacon (Nasdaq: BECN) reported outstanding third-quarter results, driven by the execution of its Ambition 2025 growth initiatives. The company achieved record net sales of $2.58 billion, a 7.0% increase compared to the prior year. Gross profit reached $672.6 million, and operating expenses were $418.8 million. Net income was $161.3 million, and adjusted EBITDA was $309.6 million. Beacon also repurchased and retired all outstanding convertible preferred shares.
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FAQ

What is the current stock price of Beacon Roofing Supply (BECN)?

The current stock price of Beacon Roofing Supply (BECN) is $103.68 as of January 8, 2025.

What is the market cap of Beacon Roofing Supply (BECN)?

The market cap of Beacon Roofing Supply (BECN) is approximately 6.3B.

What is Beacon Roofing Supply, Inc.?

Beacon Roofing Supply, Inc. is one of the largest distributors of residential and non-residential roofing and complementary building products in North America.

Where does Beacon Roofing Supply operate?

Beacon operates in 45 states in the U.S. and 6 Canadian provinces with 359 locations.

What products does Beacon Roofing Supply offer?

Beacon offers residential and non-residential roofing materials, siding, windows, and waterproofing systems.

How can I invest in Beacon Roofing Supply?

Beacon Roofing Supply's stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN.

Who are Beacon’s main customers?

Beacon's key customers include contractors, home builders, lumberyards, retailers, wholesale distributors, and building materials suppliers.

What is Beacon PRO+?

Beacon PRO+ is Beacon's proprietary digital account management suite that allows customers to manage their businesses online.

What are some of Beacon’s regional brands?

Beacon’s regional brands include Alabama Roofing Supply, All Weather Products, Beacon Roofing Supply Canada Company, Beacon Sales, Best Distributing, Cassady Pierce, and Coastal Metal Service.

How many employees does Beacon have?

Beacon employs over 4,000 people.

What recent financial activity has Beacon undertaken?

Beacon has recently commenced an underwritten secondary public offering of 5,218,134 shares of its common stock.

Does Beacon offer career opportunities?

Yes, Beacon offers various career opportunities. You can explore them on their corporate website.
Beacon Roofing Supply, Inc.

Nasdaq:BECN

BECN Rankings

BECN Stock Data

6.25B
61.45M
0.63%
98.85%
1.83%
Industrial Distribution
Wholesale-lumber & Other Construction Materials
Link
United States of America
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