BEACON ROOFING SUPPLY Reports Fourth Quarter Financial Results for FY2022 Ending February 23 2023.
February 26, 2023
Earnings Overview
BEACON ROOFING SUPPLY ($NASDAQ:BECN) reported their financial results for the fourth quarter of FY2022, ending February 23 2023, on December 31 2022. Revenue for the quarter amounted to USD 73.3 million, showing a 7.8% growth compared to the previous year. Net income also rose by 12.2%, amounting to USD 1969.4 million year-over-year.
Transcripts Simplified
Beacon Roofing Supply reported strong fourth quarter results with total net sales of nearly $2 billion and a gross margin of 26.2%. Price/cost was slightly favorable as higher average selling prices more than offset product inflation year-over-year. Higher non-residential sales mix also contributed to the 10 basis point decline year-over-year. Adjusted OpEx was $364 million, an increase of $58 million compared to the prior year quarter.
OpEx as a percentage of sales increased to 18.5% or 100 basis points year-over-year. Non-residential roofing sales per day were up 27%, driven by price execution and Complementary sales per day increased 16% year-over-year.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BECN. More…
| Total Revenues | Net Income | Net Margin |
| 8.43k | 379.6 | 5.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BECN. More…
| Operations | Investing | Financing |
| 401.1 | -395.6 | -162.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BECN. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6k | 3.7k | 35.88 |
Key Ratios Snapshot
Some of the financial key ratios for BECN are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.9% | 68.2% | 8.3% |
| FCF Margin | ROE | ROA |
| 3.7% | 19.8% | 7.3% |
Price History
According to the report, the stock opened at $59.6 and closed at $59.7, representing a slight gain of 0.3% from the previous closing price of $59.5. As a result, investors are advised that current market conditions are favorable for BEACON ROOFING SUPPLY stock given the strong earnings and focus on rising revenue. Overall, BEACON ROOFING SUPPLY is continuing to make positive steps by increasing its total revenue and net income year over year. Investors should look to continue investing in this company given its proven track record of successful financial results and potential for growth. Live Quote…
Analysis
GoodWhale’s analysis of BEACON ROOFING SUPPLY’s financials reveals that the company has a high health score of 8/10. This indicates that the firm is in a strong financial position and has the capacity to pay off debt, fund future operations and expand operations. According to GoodWhale’s Star Chart, BEACON ROOFING SUPPLY is classified as ‘rhino’ – a type of company that has achieved moderate revenue or earnings growth. This makes it an attractive investment for investors who are looking for steady, moderate returns. Furthermore, GoodWhale’s analysis shows that BEACON ROOFING SUPPLY is strong in terms of growth, but medium in terms of asset, profitability and dividend. Investors that are focused on capital gains or value-added investments may find BEACON ROOFING SUPPLY an attractive option. More…
Peers
Beacon Roofing Supply Inc is one of the largest roofing distributors in North America. The company has more than 500 locations across the United States and Canada. The company was founded in 1928 and is headquartered in Herndon, Virginia. Beacon Roofing Supply Inc’s main competitors are BlueLinx Holdings Inc, Jiangsu Canlon Building Materials Co Ltd, and Armstrong Flooring Inc.
– BlueLinx Holdings Inc ($NYSE:BXC)
BlueLinx Holdings Inc is a holding company. Through its subsidiaries, the Company is engaged in the distribution of building and industrial products in North America. It offers its products to customers in the United States and Canada. The Company’s segments include Wholesale and Retail. The Wholesale segment is engaged in selling, marketing and distribution of building products to lumber yards, building material suppliers, professional lumber dealers and industrial users primarily in the United States. The Retail segment is engaged in selling, marketing and distribution of building products to lumber yards, building material suppliers and professional lumber dealers in Canada.
– Jiangsu Canlon Building Materials Co Ltd ($SZSE:300715)
Jiangsu Canlon Building Materials Co Ltd is a Chinese company that produces building materials. The company has a market cap of 5.15B as of 2022 and a Return on Equity of -0.94%. The company’s products include windows, doors, curtain walls, and sunrooms.
Summary
Beacon Roofing Supply reported strong fourth quarter financial results for FY2022 with total revenue coming in at USD 73.3 million, a 7.8% increase from the prior year. Net income also saw a 12.2% increase year-over-year to USD 1969.4 million. This demonstrates increasing efficiency and market strength for the company, and suggests potential long-term growth and value to investors. Moving forward, investors should keep an eye on Beacon’s ability to capitalize on market share and customer demand as well as their approach to capitalizing on strategic acquisitions and partnerships.
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