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), a leading wholesale distributor of roofing and exterior products, has announced an enhanced alliance with EagleView, integrating detailed roof measurements into Beacon PRO+®, their ecommerce platform. The collaboration introduces Smart Order, a digital tool exclusive to Beacon PRO+ that allows contractors to create complete materials lists and place customized orders based on EagleView's aerial imagery measurements in under a minute.
This integration aims to increase efficiency and profitability for contractors, aligning with Beacon's Ambition 2025 strategy. The enhanced platform is expected to drive customer loyalty and improve profit margins. Contractors can access the new Beacon PRO+ Smart Order experience by logging in at becn.com/beacon-pro-plus.
Beacon (Nasdaq: BECN), a leading wholesale distributor of roofing and exterior products, has expanded its service with new locations in Athens, Georgia and Midlothian, Texas. The Athens branch serves residential and commercial markets, including the University of Georgia, offering a complete product catalog and access to the Beacon PRO+ app. The Midlothian branch is the tenth location in the Dallas-Fort Worth metroplex, enhancing convenience for contractors.
Beacon has opened 12 new locations and completed seven acquisitions, adding 28 branches year-to-date in 2024. This expansion aligns with the company's Ambition 2025 plan, which aims to drive above-market growth and improve customer service. Notably, Beacon has already exceeded its Ambition 2025 revenue and shareholder return targets two years ahead of schedule.
Beacon (Nasdaq: BECN) has announced that it will release its second quarter 2024 earnings results after market close on Thursday, August 1, 2024. The company will host a conference call and webcast to discuss the financial results at 5:00 p.m. Eastern Time on the same day.
Analysts, investors, and interested parties are invited to register and participate in the earnings call, which will include accompanying slides. Participants are advised to register at least 10 minutes before the start time to ensure timely access. An archived copy of the webcast will be available on the company's Investor Relations page shortly after the call concludes.
Beacon (Nasdaq: BECN) announced the acquisition of Roofers Mart of Southern California, based in Walnut, California. Roofers Mart, a company with a 40-year history, specializes in serving roofing contractors in the Los Angeles area. The acquisition aims to enhance Beacon's commercial roofing services in Los Angeles, providing a more extensive catalog including Beacon's TRI-BUILT® branded products and additional resources like Beacon PRO+. This move aligns with Beacon's strategy to grow its commercial roofing sector, marking its seventh acquisition in 2024. The company is progressing toward its goal of becoming North America's leading commercial roofing distributor, having already exceeded its 2023 revenue and shareholder return targets as part of its Ambition 2025 plan.
Beacon (Nasdaq: BECN) has been honored as a National Preferred Partner by David Weekley Homes for the fifth time. This accolade recognizes Beacon's ability to provide reliable service, efficiency, and digital integration, essential for seamless home construction. Out of 122 evaluated companies, only 20% received this designation, underscoring Beacon's exceptional performance. Greg Bloom, Beacon's VP of National Accounts, highlighted the company's commitment to enhancing customer experience through consistent service excellence. John Schiegg, VP of Supply Chain Services at David Weekley Homes, praised Beacon's high-quality products and extraordinary service.
Beacon (Nasdaq: BECN), a leading distributor of specialty roofing and complementary products, has announced the acquisition of Extreme Metal Fabricators and Integrity Metals. Extreme Metal operates in Key Largo and Palm City, while Integrity Metals operates in Gainesville and Vero Beach, Florida. The acquisitions aim to enhance Beacon's service offerings for metal roofing contractors in Florida. These additions will expand Beacon's product catalog to include specialized metal roofing solutions, addressing the increasing demand for resilient and durable roofing in coastal environments. The integration is expected to benefit employees, customers, and suppliers.
Beacon (Nasdaq: BECN) announced Brooke Laizure, Owner of Whirlwind Roofing & Construction in Bixby, Oklahoma, as the winner of the 2024 North American Female Roofing Professional of the Year.
Whirlwind specializes in residential roofing replacement, repair, and restoration. Brooke is a founding member of the National Women in Roofing (NWIR) and chairs its Oklahoma Council. She is also involved in initiatives like Build My Future, Women Accessing Non-Traditional Trades, and holds an Xactimate Level 3 Certification.
This year's campaign received nearly 3,000 entries, highlighting women in roofing across the US and Canada. The other top finalists were Millie Hindes, Sarah Lechowich, Tomie Kay Morse, and Melanie Knox.
Beacon (Nasdaq: BECN), a specialty roofing distributor, announced the opening of new locations in Terrell, Texas; Everett, Washington; and Spokane, Washington. The Terrell branch will serve the eastern Dallas-Fort Worth market, while the Washington state branches will support specialty waterproofing contractors. This expansion aims to enhance service efficiency through Beacon's OTC network and PRO+ app, enabling better inventory and fleet management. Beacon has opened ten new locations and completed four acquisitions adding 23 branches in 2024, advancing its Ambition 2025 plan to drive above-market growth.
Beacon (Nasdaq: BECN) has released its 2023 Corporate Social Responsibility (CSR) Report, highlighting significant progress in environmental and social initiatives. The report details Beacon's efforts to halve emissions intensity by 2030, reduce Scope 1 and 2 greenhouse gas emissions through investments in renewable energy, and disclose metrics on waste, energy usage, and fuel consumption.
Additionally, the report includes policies and investments aimed at fostering a respectful and safe workplace, improving safety performance over the past four years, and maintaining governance that ensures integrity and transparency. Beacon's President and CEO Julian Francis emphasized the importance of these values in achieving the company's Ambition 2025 strategy.
Beacon (Nasdaq: BECN), a publicly-traded specialty roofing distributor, has launched new branches in Attleboro, Massachusetts and Mississauga, Ontario. These expansions are designed to better serve residential and commercial roofing contractors in the Providence, Rhode Island metro area, southeastern Massachusetts, and the Greater Toronto Area (GTA). The Attleboro branch offers enhanced service capabilities and access to Beacon's PRO+ app for online services. Meanwhile, the Mississauga branch provides a wide range of roofing products to support the GTA's growing population. Year-to-date in 2024, Beacon has opened seven new locations and completed four acquisitions, aligning with its Ambition 2025 plan which aims for above-market growth.
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