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Beacon Roofing Supply, Inc.
Type
Public
Industry Building Materials
Founded 1928
Headquarters Herndon, Virginia, United States
Key people
Paul Isabella (President and CEO), Robert Buck
Chairman of the Board
Revenue Increase US$4.1 Billion (FY 2016)
Operating income
US$ 204,984 million (FY 2016)
Net income
Increase US$ 89,917 million (FY 2016)
Number of employees
5,000 (2016)
Website www.beaconroofingsupply.com

Beacon Roofing Supply, Inc. (NASDAQ: BECN) is an American publicly traded company which sells residential and non-residential roofing products, as well as related building products in North America. The company currently consist of 13 regional companies in 48 states and 6 Canadian Provinces, 384 locations and over 5,000 employees. In addition to roofing, local divisions may also sell windows, siding, decking, waterproofing, and other external building products. The company is currently headquartered in Herndon, Virginia.

Beacon Roofing Supply consists of the following companies:

Beacon Roofing Supply was established in 1928 in Charlestown, Massachusetts, as Beacon Sales Company. By 1953, the company had outgrown its building in Charlestown, and built a new facility in nearby Somerville. In the 1970s, the company expanded to Worcester, Massachusetts and Lewiston, Maine. In 1984, Andrew Logie bought a majority interest in the company. At that time, sales were almost $17 million, virtually all in commercial roofing. Shortly after Logie became CEO, David Grace joined Beacon as the company's Chief Financial Officer. During Logie's tenure, the company opened new branches throughout the United States, and expanded into residential roofing as well as commercial roofing. By 1997, seven branches were generating $72 million in annual sales

In 1997, the equity firm Code, Hennessy & Simmons III, L.P. purchased a majority interest in the company. They re-branded it as Beacon Roofing Supply, Inc. In 1998, Beacon, in an attempt to acquire successful distributors, purchased its first regional brand, Quality Roofing Supply, a Pennsylvania based roofing distributor. From 1999 - 2000, Beacon continued its purchase of regional roofing distributors by acquiring Best Distributing (North Carolina), Groupe Bedard and Exeltherm Supply (Canada), The Roof Center (Maryland and Virginia), and West End Lumber (Texas).

By 2002, Beacon had surpassed $500 million in revenue. Early in fiscal 2004, Robert R. Buck joined the company and succeed Andrew Logie as President and CEO. To obtain money to grow the company, Beacon went public with an initial public offering on the NASDAQ stock exchange, on September 23, 2004. In 2005, The Wall Street Journal ranked Beacon as the sixth fastest-growing new stock issue behind Google.

The company continued to acquire successful distributors across North America and drive organic growth in existing operations. Within three months of the IPO, Beacon acquired Atlanta-based JGA Corp., which had sales of $74 million. In October 2005, Beacon’s made its largest acquisition by purchasing Shelter Distribution, a mid-western distributor with sales of $313 million and 50 branches. Other additions in 2005 and 2006 included Mississippi Roofing, Alabama Roofing, Pacific Supply, Minnesota’s Roof Depot, and RSM Supply in Arkansas, Missouri and Oklahoma.

Sales surpassed $850 million in fiscal 2005 and $1.5 billion in fiscal 2006. In April 2007, Beacon acquired North Coast Commercial Roofing Systems based in Twinsburg, Ohio, which had sales in excess of $250 million. This strategic acquisition moved Beacon into three new states - Ohio, New York and West Virginia. At this point, operations now encompassed 172 branches in 37 states and 3 Canadian provinces.

In October 2007, Beacon announced the appointment of Paul M. Isabella as President and Chief Operating Officer.

At the end of 2010, Robert Buck relinquished the title of CEO to Paul Isabella while retaining the title of Chairman of the Board. Today, Buck remains actively involved with the investment community, acquisitions and monitoring organizational structure and leadership.

In fiscal 2011, Beacon increased sales by 12.9% to a record $1.82 billion. The company also expanded further into Canada with the acquisitions of Enercon Products in May, a Western Canada roofing distributor with six locations.

In fiscal 2012, the company exceeded $2 billion in sales for the first time. During 2012, the company also made several strategic acquisitions and opened several new branches which expanded its market coverage. In May 2012, the company acquired Pittsburgh, Philadelphia, headquartered Cassady Pierce, which was founded in 1947 and has 6 locations in and around the Western Pennsylvania area. A few weeks later, the company announced the opening of their 200th location in Myrtle Beach, South Carolina.

On July 1, 2012, Beacon acquired Southern California based Structural Materials Co. The acquisition more than doubled the size of the company's market penetration in the Southern California region.

Shortly after fiscal 2013 began, the company acquired McClure-Johnston Co. which expanded the company's footprint in the Pennsylvania region.

In 2014, Beacon again expanded its operations again by acquiring Wholesale Roofing Supply based out of Dallas, Texas, All Weather Products based out of Vancouver, and Applicators Sales & Service in New England.

Paul M. Isabella, President and Chief Executive Officer, effective January 1, 2011. He was first elected a director in February 2011.

News

Beacon Roofing Supply, Inc. -0.2% (industrials)

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2021 2021-02-01 Future report Set alerts
Q4 2020 2020-11-23 Future report Set alerts
Q3 2020 2020-08-06 1.01 -0.18
Q2 2020 2020-05-07 -0.20 -1.87
Q1 2020 2020-02-03 0.41 -0.43
Q4 2019 2019-11-25 1.04 0.27
Q3 2019 2019-08-06 0.92 0.32
Q2 2019 2019-05-07 -0.45 -1.08
Q1 2019 2019-02-07 0.60 -0.10
Q4 2018 2018-11-19 1.07 0.54

Ratings

2016-07-06 Reiterated Rating Robert W. Baird Outperform $55.00
2016-07-06 Initiated Coverage Jefferies Group Hold $46.00 to $46.00
2016-06-10 Upgrade BB&T Corp. Hold to Buy $51.00
2016-04-11 Upgrade RBC Capital Sector Perform to Outperform $41.00 to $50.00
2016-04-11 Upgrade Royal Bank Of Canada Sector Perform to Outperform $41.00 to $50.00
2016-02-08 Upgrade Raymond James Outperform to Strong-Buy $48.00
2016-02-08 Lower Price Target RBC Capital Sector Perform $42.00 to $41.00
2016-02-08 Boost Price Target Robert W. Baird Outperform $49.00 to $50.00
2016-02-08 Upgrade Raymond James Financial Inc. Outperform to Strong-Buy $48.00
2016-01-21 Upgrade Longbow Research Neutral to Buy
2016-01-19 Upgrade William Blair Market Perform to Outperform
2016-01-11 Initiated Coverage Citigroup Inc. Neutral $42.00
2015-12-16 Boost Price Target RBC Capital Sector Perform $44.00 to $45.00
2015-11-30 Downgrade Stephens Overweight to Equal Weight $40.00 to $46.00
2015-11-25 Reiterated Rating Robert W. Baird Buy
2015-11-25 Boost Price Target RBC Capital Sector Perform $37.00 to $44.00
2015-11-24 Reiterated Rating William Blair Hold
2015-10-26 Upgrade JPMorgan Chase & Co. Neutral to Overweight
2015-10-26 Reiterated Rating William Blair Hold
2015-10-08 Reiterated Rating William Blair Hold
2015-08-10 Boost Price Target RBC Capital Sector Perform $34.00 to $37.00
2015-07-29 Upgrade CL King Neutral to Buy
2015-07-28 Boost Price Target JPMorgan Chase & Co. Neutral $31.00 to $36.50
2015-07-28 Upgrade Robert W. Baird Neutral to Outperform $33.00 to $40.00
2015-07-27 Upgrade Raymond James Market Perform to Outperform $40.00
2015-05-14 Reiterated Rating JPMorgan Chase & Co. Neutral $26.00 to $31.00
2015-05-12 Boost Price Target Stephens Overweight $30.00 to $35.00
2015-05-11 Boost Price Target RBC Capital Sector Perform $30.00 to $34.00
2015-02-09 Reiterated Rating William Blair Market Perform
2015-02-09 Boost Price Target JPMorgan Chase & Co. Neutral $24.50 to $26.00
2015-01-28 Reiterated Rating JPMorgan Chase & Co. Hold $29.00 to $24.50
2014-11-19 Downgrade KeyBanc Buy to Hold $36.00
2014-11-19 Downgrade KeyCorp Buy to Hold $36.00
2014-09-26 Downgrade Longbow Research Buy to Neutral $36.00
2014-08-08 Lower Price Target Robert W. Baird Neutral $35.00 to $31.00
2014-08-08 Reiterated Rating JPMorgan Chase & Co. Neutral $38.00 to $33.50
2014-07-08 Downgrade William Blair Outperform to Market Perform
2014-05-19 Upgrade Longbow Research Neutral to Buy $42.00
2014-05-12 Lower Price Target RBC Capital $41.00 to $38.00
2014-04-15 Upgrade SunTrust Neutral to Buy $39.00 to $46.00
2013-12-12 Upgrade KeyBanc Hold to Buy
2013-10-01 Downgrade Robert W. Baird Outperform to Neutral $42.00 to $39.00
2013-05-14 Reiterated RBC Capital Mkts Sector Perform $41 to $44
2012-11-27 Reiterated Wunderlich Buy $30 to $36
2012-09-17 Downgrade KeyBanc Capital Mkts Buy to Hold
2012-05-10 Upgrade KeyBanc Capital Mkts Hold to Buy $31
2011-12-02 Downgrade KeyBanc Capital Mkts Buy to Hold
2011-10-06 Upgrade KeyBanc Capital Mkts Hold to Buy $21
2011-04-08 Upgrade Robert W. Baird Neutral to Outperform $26
2011-03-08 Initiated KeyBanc Capital Mkts Hold
2011-01-27 Downgrade RBC Capital Mkts Outperform to Sector Perform $19 to $19
2010-11-30 Reiterated RBC Capital Mkts Outperform $18 to $19
2010-11-24 Reiterated RBC Capital Mkts Outperform $19 to $18
2010-10-01 Downgrade Robert W. Baird Outperform to Neutral $19 to $16
2010-03-15 Downgrade BB&T Capital Mkts Buy to Hold
2010-02-04 Upgrade Morgan Keegan Mkt Perform to Outperform
2016-07-06 Reiterated Rating Robert W. Baird Outperform $55.00
2016-07-06 Initiated Coverage Jefferies Group Hold $46.00 to $46.00
2016-06-10 Upgrade BB&T Corp. Hold to Buy $51.00
2016-04-11 Upgrade RBC Capital Sector Perform to Outperform $41.00 to $50.00
2016-04-11 Upgrade Royal Bank Of Canada Sector Perform to Outperform $41.00 to $50.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
ISABELLA PAUL President & COO 0.27%  (133803) BECN /
SEXTON WILSON B 0.21%  (105695) BECN / HWCC / POOL /
Logie Andrew R 0.15%  (76101) BECN /
Gotsch Peter M 0.10%  (50000) BECN / HWCC /
Grace David R CFO, Treasurer & SVP-Finance 0.09%  (43137) BECN /
BUCK ROBERT R Chairman & CEO 0.08%  (37353) BECN / LABL / NX /
NOWICKI JOSEPH M EVP & CFO 0.02%  (10643) BAGR / BECN / SPAR /
BELLOWS H ARTHUR JR 0.02%  (8250) BECN /
RANDLE STUART A 0.02%  (8094) BECN / TFX /
MCLAUGHLIN ROBERT M 0.02%  (7987) ARG / AXTA / BECN /
Cooper Ross D Sr. Vice President, General Co 0.01%  (6776) BECN /

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