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Dec 31, 2020
Beacon Roofing Q1 2021 Earnings Report
Beacon completed the sale of its interior products business to Foundation Building Materials.
Key Takeaways
Beacon announced the completion of the sale of its interior products and insulation businesses to Foundation Building Materials for $850 million, subject to adjustments. The company expects after-tax proceeds of approximately $750 million to reduce net leverage and invest in its core exteriors business.
Beacon completed the sale of its Interior Products business to Foundation Building Materials for $850 million.
The sale improves Beacon's financial flexibility and allows for strategic growth initiatives in its core exteriors business.
Anticipated after-tax proceeds of approximately $750 million will be used to reduce net leverage and strengthen the balance sheet.
Beacon is focusing on growing sales and improving the profitability of its exteriors business.
Forward Guidance
This release contains information about management’s view of Beacon’s future expectations, plans, and prospects that constitute forward-looking statements
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