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.
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Rhea-AI Summary
Beacon (NASDAQ: BECN) announced the commencement of an underwritten secondary public offering of 5 million shares of Beacon's common stock by CD&R Boulder Holdings, L.P. RBC Capital Markets is acting as the sole underwriter in the registered public offering of those shares. The last reported sale price on the Nasdaq Global Select Market of Beacon common stock on December 5, 2023, was $82.69 per share.
Rhea-AI Impact
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End-of-Day
-2.86%
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Beacon (Nasdaq: BECN) reaffirms its outlook for full year 2023, including a departure of its Chief Financial Officer and a formal search for a replacement. The company also reaffirmed its 2023 full year Adjusted EBITDA expectations and expects to exceed Ambition 2025 revenue and shareholder return targets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.55%
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Beacon (Nasdaq: BECN) has opened new locations in Riverside, California and Houston, Texas to serve residential and commercial contractors. The Riverside, CA branch is in the Inland Empire region of Southern California, catering to the fast-growing population centers. The Houston, TX branch is strategically located along the busy 288 corridor, adding another lever to serve customers. Beacon has opened 21 greenfields and completed nine acquisitions in 2023 as part of its Ambition 2025 plan for above-market growth.
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Rhea-AI Sentiment
End-of-Day
0.25%
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Beacon (Nasdaq: BECN) - Beacon of Hope program continues to give back to Veterans with new roof replacements. The annual initiative, now in its fifth year, awards 10 Veterans with roof replacements in collaboration with local roofing companies. Beacon's Chief Commercial Officer, Jonathan Bennett, emphasizes the importance of reciprocating the support for Veterans and encourages others to become a 'Beacon of Hope'. The recipients, nominated by people across the U.S. and Canada, reflect Beacon's core values of putting people first and doing the right thing.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.86%
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Beacon (Nasdaq: BECN) announced outstanding third quarter results, driven by execution on growth initiatives. Net sales reached $2.58 billion, a Company record. Gross profit was $672.6 million, with a gross margin of 26.0%. Net income was $161.3 million, and Adjusted EBITDA was $309.6 million. The Company repurchased all outstanding convertible preferred shares and approximately $25 million worth of common shares.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.17%
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Beacon (Nasdaq: BECN) reported outstanding third-quarter results, driven by the execution of its Ambition 2025 growth initiatives. The company achieved record net sales of $2.58 billion, a 7.0% increase compared to the prior year. Gross profit reached $672.6 million, and operating expenses were $418.8 million. Net income was $161.3 million, and adjusted EBITDA was $309.6 million. Beacon also repurchased and retired all outstanding convertible preferred shares.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.17%
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Beacon (Nasdaq: BECN) has acquired H&H Roofing Supply, LLC of Bakersfield, CA. H&H Roofing has been serving the Bakersfield community for 20 years. With this acquisition, Beacon expands its presence in the Central Valley and now has 33 branches in California. Beacon aims to drive above-market growth through expansion and acquisitions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.53%
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Beacon (Nasdaq: BECN) has opened new locations in Salinas, CA, Frederick, CO, and Seguin, TX to serve residential and commercial contractors and lumberyards. The new branches will provide a full catalog of products and digital tools to help contractors grow their businesses. Beacon has opened 19 greenfields and completed eight acquisitions in 2023 as part of their Ambition 2025 plan.
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Rhea-AI Sentiment
End-of-Day
-0.34%
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Beacon (Nasdaq: BECN) to release earnings results for Q3 2023 on November 2, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.89%
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Rhea-AI Summary
Beacon completes acquisition of waterproofing distributor Garvin Construction Products, expanding its building envelope capabilities. Beacon's Ambition 2025 plan to grow above market is on track with eight acquisitions and 16 new locations opened in 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.26%
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Beacon Roofing Supply, Inc.
Nasdaq:BECN
BECN Rankings
BECN Stock Data
6.36B
62.97M
0.62%
93.15%
1.75%
Roofing, Siding, and Insulation Material Merchant Wholesalers
Wholesale Trade
United States of America
HERNDON
About BECN
beacon roofing supply, inc. is one of the largest distributors of residential and non-residential roofing and complementary building products in north america. the geographic footprint includes 359 locations in 45 states and 6 canadian provinces with more than 4,000 employees. we are known throughout the building supply industry for having quality people, quality service and quality building products. quick facts: - north america's largest publicly traded roofing distributor - 359 locations - stores in 45 us states and 6 canadian provinces - a fortune 1000 company - traded on the nasdaq stock exchange under the symbol becn interested in a career with beacon roofing supply, inc? be sure to stop by the careers section of our corporate website! http://www.beaconroofingsupply.com/careers.html regional brands: - alabama roofing supply - all weather products - beacon roofing supply canada company - beacon sales - best distributing - cassady pierce - coastal metal service