BEACON ROOFING SUPPLY Reports Strong Earnings for Second Quarter of FY2023
August 6, 2023
☀️Earnings Overview
BEACON ROOFING SUPPLY ($NASDAQ:BECN) reported a total revenue of USD 2503.7 million for the second quarter of FY2023 on June 30, 2023, showing a 6.2% increase compared to the same quarter of the previous year. Unfortunately, net income for the quarter decreased 11.9% year-over-year to USD 153.8 million.
Price History
The company’s stock opened at $86.5 and closed at $84.9, representing a 1.9% drop from the previous closing price of 86.5. Despite this small decrease, the company’s earnings were still impressive. The company also announced plans to invest heavily in technology, with a focus on digital transformation and automation.
This is part of the company’s ongoing efforts to improve efficiency and strengthen its position in the roofing supply industry. The company’s investments in technology should help it remain competitive in the long run. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BECN. More…
| Total Revenues | Net Income | Net Margin |
| 8.62k | 332.8 | 4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BECN. More…
| Operations | Investing | Financing |
| 946.8 | -423.1 | -512.1 |
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 |
| 6.5k | 4.08k | 38.2 |
Key Ratios Snapshot
Some of the financial key ratios for BECN are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.7% | 495.1% | 7.6% |
| FCF Margin | ROE | ROA |
| 9.7% | 17.3% | 6.3% |
Analysis
GoodWhale’s analysis of BEACON ROOFING SUPPLY’s fundamentals reveals that the company is strong in growth, medium in asset, profitability and weak in dividend. Our Star Chart indicates that BEACON ROOFING SUPPLY is classified as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. This type of company may be of interest to investors looking for investments that offer stability or security, as well as those who are looking for long-term returns. Furthermore, BEACON ROOFING SUPPLY has a high health score of 8/10 with regard to its cashflows and debt. This indicates that the company is capable to pay off debt and fund future operations. Thus, BEACON ROOFING SUPPLY is a good investment option for investors looking for long-term returns. 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 a 6.2% year-over-year increase in revenue for the second quarter of FY2023, reaching USD 2503.7 million.
However, net income declined 11.9% from the same quarter of the previous year to USD 153.8 million. Investors should look at the company’s overall performance, current market trends, and future prospects when deciding if they should invest in BEACON ROOFING SUPPLY. Factors such as the company’s financial health, operational efficiency, and industry position should all be taken into account.
Additionally, investors should compare BEACON ROOFING SUPPLY’s performance with that of its competitors when assessing its investment potential.
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