Beacon Roofing Supply

Peabody, Mass.-based Beacon Roofing Supply posted a second-quarter net loss of $0.2 million, compared with net income of $3.1 million in the same quarter last year.

Sales increased 5.3% to $416.3 million in the quarter.

CEO Paul Isabella described the second quarter as "challenging."

He added: "We experienced harsh weather conditions in many of our markets, and we were up against a very strong second quarter last year when our existing market sales were up 28%." 

Beacon Roofing Supply reported what it referred to as "record third-quarter sales," which were up 5.8% year-over-year.

Net sales for the three months ended June 30, 2014, totaled $663.4 million, compared with $627.2 million in the same period last year.

Net income came in at $26.8 million, down slightly from $27.2 million year-over-year. The company's bottom line was negatively impacted by lower gross margins from reduced selling prices.

The third quarter diluted EPS was also down slightly -- weighing in at $0.54 (compared to $0.55 in 2013).

Beacon Roofing Supply is moving its corporate headquarters from Peabody, Mass., to its Herndon, Va., corporate offices at 505 Huntmar Park Dr.

Beacon president and CEO Paul Isabella cited the start of the 2014 fiscal year, as well as the recent appointment of CFO Joe Nowicki, as fortuitous circumstances for relocation.

Beacon Roofing Supply has acquired Washington-based American Building & Roofing, Inc.

A round of acquisitions helped push Beacon's third quarter over the top.

Beacon Roofing Supply has acquired Portland, Maine-based Applicators Sales & Service, a distributor of residential roofing, siding and windows.

“Applicators has an over 50-year history of superior customer service in Maine and New Hampshire and will further strengthen Beacon’s presence in northern New England," said Beacon president and CEO Paul Isabella. "The Koocher and Robinov families have built a great team and I am thrilled to welcome Applicators to Beacon.”

Beacon Roofing Supply has posted first-quarter net income of $19.1 million compared with $10.1 million in the year-ago quarter. The company cited higher sales and gross margin rate, partially offset by the impact from higher operating expenses and a higher income tax provision for the increase.

Total sales for the first quarter ended Dec. 31, 2011, totaled $489.9 million, up 21% from $404.8 million in the same quarter a year ago.

Peabody, Mass.-based Beacon Roofing Supply CEO Paul Isabella added color to his company’s record sales performance for the quarter and the full year.

For the quarter, residential sales were up 4.8%, commercial sales were up 8.3%, and complementary sales were up 3.4%. “This marks two consecutive quarters where all three product lines have seen positive organic growth, 1.2% last quarter and 6% this quarter.”