Sales slow at Beacon Roofing

Beacon Roofing Supply, one of the nation’s largest distributors of roofing, siding and other exterior building products, reported sales of $463.6 million for the third fiscal quarter, a 9.9% decline over sales of $514.6 million in the same quarter of 2008. Residential roofing sales increased 10.4%, while non-residential roofing and complementary product sales declined 25.6% and 25.1%, respectively.

Net income for the third quarter, which ended June 30, was $17.2 million compared with $18.3 million in 2008, a decline of 5.9%.

Residential roofing sales benefited from higher average year-over-year prices as well as from strong, although diminishing, re-roofing activity in markets that were affected by Hurricane Ike, according to Beacon. Non-residential sales continued to slow significantly due to adverse economic conditions. Complementary product sales were negatively impacted by both the slowdown in the economy and lower levels of new construction.

Headquartered in Peabody, Mass., Beacon Roofing Supply ranked in 6th place, with $1.8 billion in sales in 2008, on the Home Channel News Top 350 Pro Dealer List. The company operates 169 branches in 35 states in the United States and three provinces in Eastern Canada.