Beacon (Nasdaq: BECN), Herndon, Va., reported sales for the third quarter ended Sept. 30, 2023, were $2.58 billion, up 7% from the prior-year period.
Don’t miss any content from Distribution Strategy Group. Join our list.
The increase was driven by acquisitions and new greenfield locations over the past four quarters.
Residential roofing product sales increased 13.6%, nonresidential roofing product sales decreased 7.6%, and complementary product sales increased 12.7% compared with the prior year.
The increase in residential roofing product sales was primarily due to higher volumes. The increase in complementary product sales was largely due to the November 2022 acquisition of Coastal Construction Products.
Profit was $161.3 million.
Year-to-date, sales were up 5.6% to $6.82 billion.
Residential roofing product sales increased 8.3%, nonresidential roofing product sales decreased 5.5%, and complementary product sales increased 14.9% compared to the prior year.
Profit was $339.9 million.
