Beacon reports record first-quarter sales

Reporting record first-quarter sales, Beacon Roofing Supply of Herndon, Virginia, also pointed to a seventh consecutive quarter of growth for each of its three business units.

The biggest gains came in the residential division, up 76.6%, the company reported.

The company that made acquisitions of RCI, RIS and Statewide in December said it will continue its focus on sales growth, gross margin stability and improved operating leverage in 2016.

“We have made great progress with the integration of RSG and remain on track to achieve expected synergies targets in 2016 and beyond,” said Paul Isabella, Beacon president and CEO.

Net income was down in part because of incremental costs associated with the RSG acquisition.

Sales

16Q1: $976.5 million

15Q1: $596.0 million

% change: up 63.8%

Net income

16Q1: $7.1 million

15Q1: $12.9 million

% change: down 81.3%