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Mar 31, 2024
Beacon Roofing Q1 2024 Earnings Report
Beacon Roofing's Q1 2024 earnings reflect record net sales and better-than-expected gross margin, driven by growth across all lines of business and disciplined execution.
Key Takeaways
Beacon Roofing reported record first-quarter net sales of $1.91 billion, a 10.4% increase year-over-year, driven by organic volume growth and contributions from acquired branches. Gross margin was 24.7%, slightly lower than the previous year. Net income was $5.6 million, compared to $24.8 million in the prior year, while Adjusted EBITDA was $103.1 million, compared to $113.0 million in the prior year.
Record first quarter net sales achieved, driven by growth across all three lines of business.
Better-than-expected gross margin attained through disciplined execution.
Footprint expansion enhanced customer reach and service via acquired and newly opened branches.
Specialty waterproofing distribution platform expanded with the acquisition of Smalley & Co.
Revenue by Segment
Forward Guidance
Looking forward, the company expects the fundamentals of end markets to remain supportive, underpinned by non-discretionary repair and reroofing demand. Focus will remain on enhancing customer experience, pricing, and efficiency.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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