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. (BECN) is a leading North American distributor of roofing materials and complementary building products, serving contractors and construction professionals through its extensive network. This dedicated news hub provides investors and industry stakeholders with comprehensive access to corporate developments shaping the building materials sector.
Track official announcements including quarterly earnings, strategic acquisitions, and product line expansions. Our curated collection features press releases on leadership updates, operational milestones, and market positioning moves within the competitive construction supply industry.
All content is sourced directly from verified corporate communications, ensuring reliable insights into BECN's initiatives across residential and commercial markets. Bookmark this page for streamlined monitoring of material developments affecting Beacon Roofing Supply's role in the evolving building materials landscape.
Beacon (BECN) has published its inaugural Corporate Social Responsibility (CSR) Report, emphasizing its commitment to environmental sustainability, employee well-being, and ethical governance. The report highlights a goal to reduce greenhouse gas emissions by 50% by 2030 and showcases that over 800 employees have reached over 20 years with the company. Beacon aims to share annual updates on its ESG initiatives, underlining its role as a responsible corporate citizen.
Beacon (Nasdaq: BECN) will host an Investor and Analyst event on February 23-24, 2022, in Houston, Texas. Presentations will be held on Day 1 from 3:30 pm to 5:00 pm CST and Day 2 from 8:00 am to 12:30 pm CST. Executives, including CEO Julian Francis and CFO Frank Lonegro, will discuss the company's growth strategies and financial outlook. A live webcast will be available on the company's Investor Relations website, with a replay accessible after the event. Founded in 1928, Beacon is a leading distributor of roofing materials in North America.
Beacon (Nasdaq: BECN) reported record financial performance for calendar year 2021, including net sales of $6.82 billion, a 12.2% increase from 2020. The company achieved a near-record net income margin and a double-digit Adjusted EBITDA margin for the first time. Fourth quarter net sales reached $1.75 billion, driven by a weighted-average selling price increase of 15-16%. Recent acquisitions of Midway Wholesale and Crabtree Siding bolstered market presence, while the divestiture of its solar products business sharpened focus on core operations. The company will outline future strategies at an upcoming Investor Day.
Beacon (Nasdaq: BECN) announced a refresh of its TRI-BUILT™ private label brand at the International Roofing Expo in New Orleans. The update features a new logo, tagline 'Built to Work', and a mascot to enhance brand identity and contractor confidence. TRI-BUILT offers a range of affordable, high-quality products for contractors. Since the 1990s, TRI-BUILT has helped contractors with dependable products, aiming to differentiate them in the market. This branding evolution is expected to increase visibility and appeal among its customer base.
On January 27, 2022, HOVER announced a partnership with Beacon (Nasdaq: BECN) to allow contractors to digitally order roofing materials through HOVER's platform. This feature utilizes HOVER's 3D measurements for precise material quantity calculations, enhancing efficiency and reducing waste. Beacon's VP of Marketing, Jamie Samide, highlighted the innovation as a way to meet contractors' needs. The new Direct Ordering feature is now available and aims to streamline the materials ordering process, ultimately improving project timelines and cost savings.
Beacon (Nasdaq: BECN) will release its earnings results for the transition period from October 1, 2021 to December 31, 2021 and for the calendar year ended December 31, 2021 on February 3, 2022, after market close. A conference call will be held at 5:00 p.m. ET to discuss the financial results. Beacon, established in 1928, is a leading distributor of roofing materials in North America, operating more than 400 branches. Investors can register for the call through the company’s website.
Beacon (Nasdaq: BECN) has announced the acquisition of Crabtree Siding and Supply, effective January 1, 2022. This strategic move aims to enhance Beacon's distribution capabilities in Tennessee, particularly in the underserved area between Nashville and Knoxville. Crabtree, known for its strong reputation, generates annual sales of approximately $1 million. The acquisition is expected to bolster customer service and supplier relationships, contributing to Beacon's expansion in the market.
Beacon (Nasdaq: BECN) has completed the sale of its solar products business to BayWa r.e., a prominent renewable energy developer. The Solar Products division generated approximately $111 million in net sales and $2.6 million in net income for the year ending September 30, 2021. CEO Julian Francis indicated that this divestiture aligns with their strategy to focus on core exterior customers. The acquisition enhances BayWa r.e.'s capabilities while creating marketing opportunities for both companies in the renewable energy sector.
Beacon reported record fiscal year 2021 results with net sales reaching $6.64 billion, a 12.3% increase from the previous year. The company achieved strong fourth quarter performance with net sales of $1.88 billion, a 6.9% year-over-year growth. Gross margins improved to 27.1%, driven by effective pricing strategies. Net income from continuing operations rose to $104.5 million in Q4, compared to $68.2 million in 2020. Additionally, the acquisition of Midway Sales & Distributing is expected to enhance Beacon's Midwest presence.
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