Beacon's first-ever billion-dollar quarter

Beacon Roofing Supply, Inc. broke a record in the third quarter -- to the tune of $1.15 billion.

“I am excited to announce another record-breaking quarter and continued strong results for the year," said president and CEO Paul Isabella. "In the third quarter Beacon achieved a milestone with our first-ever billion-dollar quarter."

Net sales for the three months ended June 30 jumped 60.5% to $1.15 billion, owing largely to the RSG and the seven other acquisitions made this year.

Organic sales were 8.7%, owing largely to Beacon's greenfield investments and the increased storm activity in the Dallas area.

Net income of $41.1 million was up considerably from the previous period's $28.3 million, thanks to higher volumes and gross margins.

Isabella added that the continued shift to more residential sales helped gross margin grow to 24.%, up 90 basis points over the prior year.

"In order to finish our year strong we will continue executing on the core deliverables of customer service excellence, strategic growth and superior financial results," added Isabella.