Beacon Roofing Supply Forecast to Earn $6.47 Per Share in FY2024

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Beacon Roofing Supply ($NASDAQ:BECN), Inc. is a leading distributor of residential and commercial roofing materials in the United States and Canada. The company offers a wide range of roofing products, including asphalt shingles, concrete and clay tiles, metal roofing, slate, rubber roofing, and more. According to Defense World, Beacon Roofing Supply is forecasted to earn an earnings per share of $6.47 for the fiscal year 2024. The company’s stock has been on a steady rise over the past few years and is currently trading at its highest price ever. This can be attributed to Beacon Roofing Supply’s strong financial performance and its ability to capitalize on industry trends.

The company is also making investments in new technologies and expanding its product offerings to take advantage of the growing demand for roofing materials. With a strong outlook for the upcoming fiscal year 2024, Beacon Roofing Supply is set to continue its growth trajectory and further position itself as a leading provider of roofing materials. This earnings per share forecast should come as good news for investors, who have seen their stock price increase significantly in recent months. With this optimistic outlook for FY2024, investors can expect to see further appreciation in their investment in Beacon Roofing Supply.

Earnings

Beacon Roofing Supply Inc. recently released its earning report for FY2023 Q1 ending December 31 2020, showing that the company earned a total revenue of 1576.5M USD but suffered a net income loss of 220.5M USD. Compared to the same period last year, this represents a 6.5% decrease in total revenue and a 495.2% decrease in net income.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for BECN. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for BECN. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for BECN. More…

Key Ratios Snapshot

Some of the financial key ratios for BECN are shown below. More…

Price History

On Friday, the stock opened at $79.0 and closed at $79.9, representing a marginal 0.1% increase from the prior closing price of $79.8. According to analysts’ estimations, the company is forecasted to earn $6.47 in EPS in FY 2024. Beacon Roofing Supply has seen strong growth over the past few years and is expected to continue that trend for the foreseeable future. Analysts believe the company’s continued focus on efficiency and cost savings measures will result in higher profits and increased returns for shareholders.

The company has also invested heavily in expanding its distribution network, which should help drive future growth. With a strong outlook for the future, investors are keen to watch Beacon Roofing Supply’s performance and results in FY 2024. Live Quote…

Analysis

GoodWhale has analyzed BEACON ROOFING SUPPLY’s financials and offers a review of the company’s performance. Based on our Star Chart, BEACON ROOFING SUPPLY is strong in growth and medium in asset, profitability and dividend. The company’s health score of 8/10 indicates that it is capable of sustaining future operations in times of crisis, as it has a good cashflow and low debt. We classify BEACON ROOFING SUPPLY as an ‘elephant’ – a type of company that is rich in assets after liabilities have been deducted. Investors interested in a strong, middle-of-the-road company like BEACON ROOFING SUPPLY may include long-term investors who are looking for stability and reasonable returns on their investments, as well as those who are seeking a little more risk and higher returns. Investors of this type, who are comfortable with the company’s financials and performance, may find BEACON ROOFING SUPPLY to be an attractive investment opportunity. 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, Inc. is expected to post fiscal year 2024 earnings of $6.47 per share. Analysts are optimistic that the company will continue to perform well in the coming years, with its strong financials and experienced management team. The stock has seen a steady increase in recent years due to its attractive dividend yield and dividend growth potential. Investors have been drawn to the potential of the company’s strong balance sheet and the extensive range of roofing materials it offers.

Additionally, Beacon Roofing Supply has seen strong organic growth that is expected to continue into the future. With its healthy dividend yield, expanding product portfolio, and a strong financial outlook, Beacon Roofing Supply is an attractive investment opportunity for investors looking for long-term returns.