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Dec 31, 2024
Beacon Roofing Q4 2024 Earnings Report
Beacon achieved record Q4 sales but faced a decline in net income due to increased operating expenses.
Key Takeaways
Beacon reported Q4 2024 revenue of $2.40 billion, up 4.5% year-over-year, driven by strong growth in non-residential and complementary product sales. Adjusted EPS was $1.65, while GAAP EPS declined to $1.32 due to higher SG&A costs. Net income fell 12.1% to $83.6 million, impacted by higher operating expenses and warehouse costs. Despite challenges, the company continued its expansion strategy, opening 19 greenfield locations and acquiring 42 branches.
Revenue grew 4.5% year-over-year to $2.40 billion, setting a new Q4 record.
GAAP EPS declined to $1.32, while adjusted EPS was $1.65.
Net income fell 12.1% to $83.6 million due to higher operating expenses.
Strong growth in non-residential roofing (+5.5%) and complementary building products (+11.7%).
Revenue by Segment
Forward Guidance
Beacon expects stable revenue growth in 2025, supported by continued expansion, operational efficiencies, and pricing discipline. Adjusted EBITDA is projected to remain strong, with a focus on enhancing profitability.
Positive Outlook
- Continued expansion with planned greenfield openings and acquisitions.
- Stable demand in non-residential and complementary product categories.
- Improved pricing strategies expected to drive margin stability.
- Operational efficiencies aimed at reducing cost pressures.
- Digital platform and private label growth expected to enhance sales mix.
Challenges Ahead
- Ongoing macroeconomic uncertainties may impact demand.
- Higher SG&A expenses could pressure profitability.
- Rising warehouse and lease costs may limit margin expansion.
- Competitive pressures in the roofing industry remain strong.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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