becn-8k_20180508.htm

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 8, 2018

 

BEACON ROOFING SUPPLY, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

000-50924

36-417337

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

505 Huntmar Park Drive, Suite 300

Herndon, VA

 

20170

(Address of Principal Executive Offices)

 

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (571) 323-3939

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 

 

 


Item 2.02

Results of Operations and Financial Condition

On May 8, 2018, Beacon Roofing Supply, Inc. (the “Company”) issued a press release providing information regarding earnings for the second quarter ended March 31, 2018. A copy of the press release is attached hereto as Exhibit 99.1.

On May 8, 2018, the Company delivered a presentation as part of the webcast for the earnings conference call for the second quarter ended March 31, 2018. A copy of the presentation is attached hereto as Exhibit 99.2.

The information including Exhibit 99.1 and Exhibit 99.2 in this Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this Form 8-K shall not be incorporated by reference into any filing under the Securities Act of 1933, except as shall otherwise be expressly set forth by specific reference in such filing.

 

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

 

Exhibit Index

Exhibit

Number

 

Description

99.1

 

Beacon Roofing Supply, Inc. press release dated May 8, 2018

99.2

 

Beacon Roofing Supply, Inc. FY 2018 second quarter earnings presentation dated May 8, 2018

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

BEACON ROOFING SUPPLY, INC.

 

 

 

 

Date: May 8, 2018

 

By:

/s/ JOSEPH M. NOWICKI

 

 

 

JOSEPH M. NOWICKI

 

 

 

Executive Vice President & Chief Financial Officer

 

 

becn-ex991_6.htm

Exhibit 99.1

 

May 8, 2018

 

Beacon Roofing Supply Reports Second Quarter 2018 Results

 

Record second quarter net sales of $1.43 billion (63.7% growth year-over-year)

 

Second quarter EPS of ($1.07) vs. ($0.16) in the prior year, and Adjusted EPS of ($0.35) vs. $0.08

 

Pricing increased for the 2nd consecutive quarter and showed the strongest gains in more than five years

 

Raising Allied synergy target to $120 million from $110 million; integration progress exceeding expectations  

 

HERNDON, VA. — (BUSINESS WIRE) — Beacon Roofing Supply, Inc. (Nasdaq:BECN) (“Beacon” or the “Company”) announced results today for its second quarter ended March 31, 2018 and first half ended March 31, 2018 of the fiscal year ending September 30, 2018 (“2018”).

 

Paul Isabella, the Company's President and Chief Executive Officer, stated, “Second quarter results fell short of our expectations, as harsh winter weather conditions limited customers available work days. The year-to-year temperature declines, particularly throughout the Midwest, Ohio Valley and South, produced one of the most significant temperature drops in the past several decades. The cold weather, combined with heavier February precipitation and March snowstorms, created a difficult environment for the roofing industry. Despite this challenging  environment, our organic sales were flat year over year bolstered by strong volume from hurricane impacted areas and our early efforts in passing through manufacturer price increases. Second quarter pricing improved more than 200 basis points versus last year, representing a 2nd consecutive quarterly gain and our highest increase in more than five years. While gross margins saw timing related price-cost headwinds, we are confident pricing will continue to improve over the coming months. Adjusted operating costs as a percent of sales were above year ago levels reflecting increased spending to serve the hurricane impacted markets, a higher cost structure at Allied and synergy timing. We will continue to focus our efforts on actions aimed to increase sales, drive higher gross margins and lever our cost structure during the busiest part of the year. Additionally, we remain committed to investing in our future as evidenced through initiatives such as ecommerce, continuous improvement and enhancements to our pricing model. Successful early integration efforts associated with the Allied combination have provided us the confidence to raise our synergy expectations. After just four months of ownership, the talented employees of Allied are already adding significant value to the Beacon organization. Beacon remains committed to driving growth organically and through acquisitions while lowering our overall net debt leverage, adding value through technology investments, and executing the Allied integration plan.”

Second Quarter

 

Total sales increased 63.7% to a second quarter record of $1.43 billion, up from $870.7 million in 2017. Residential roofing product sales increased 19.7%, non-residential roofing product sales increased 35.6% and complementary product sales increased 263.2% over the prior year. Existing markets sales, excluding acquisitions, decreased 0.1% for the quarter. The second quarter of fiscal years 2018 and 2017 each had 64 business days.

 

Net loss attributable to common shareholders for the second quarter was ($72.7) million, compared to ($9.4) million in 2017. Second quarter EPS was ($1.07), compared to ($0.16) in 2017. Adjusted Net Income (Loss), after removing the impact of acquisition related costs and the net benefit from one-time tax items, was a loss of ($23.5) million in the second quarter of 2018, compared to $5.0 million in 2017. Second quarter Adjusted EPS was a loss of ($0.35), compared to $0.08 in 2017. (See included financial tables for a reconciliation of “Adjusted” financial measures to the most directly comparable GAAP financial measures). Second quarter results were positively impacted by strong existing and acquired sales growth within our complementary products category, improved company-wide gross margins and early synergy benefits attributable to the purchase of Allied. Second quarter 2018 EPS was negatively impacted by winter weather conditions that lowered customer activity, higher operating expenses, increased interest expense, and the impact from preferred dividends.

 

First Half

 

Total sales increased 36.0% to a first half record of $2.55 billion, up from $1.87 billion in 2017. Residential roofing product sales increased 15.2%, non-residential roofing product sales increased 18.6% and complementary product sales increased 138.1% over the


prior year. Existing markets sales, excluding acquisitions, increased 4.4% for the first half. The first half of fiscal years 2018 and 2017 each had 125 business days.

 

Net income (loss) attributable to common shareholders for the first half was ($5.1) million, compared to $11.1 million in 2017. First half EPS was ($0.07), compared to $0.18 in 2017. Adjusted Net Income (Loss), after removing the impact of acquisition related costs and the net benefit from one-time tax items, was $23.2 million in the first half 2018, compared to $39.4 million in 2017. First half Adjusted EPS was $0.34, compared to $0.64 in 2017. (See included financial tables for a reconciliation of “Adjusted” financial measures to the most directly comparable GAAP financial measures). First half results were positively impacted by strong net sales growth, contributions from our 2017 acquisitions, and beneficial tax adjustments. First half 2018 EPS was negatively impacted by lower gross margins, higher operating costs, and increased interest expense.

 

The Company will host a webcast and conference call today at 5:00 p.m. ET to discuss these results. The webcast link and call-in details are as follows:

What:

Beacon Roofing Supply Second Quarter 2018 Earnings Results Webcast and Conference Call

When

Thursday, May 8, 2018

Time:

5:00 p.m. ET

Webcast:

http://ir.beaconroofingsupply.com/events.cfm (live and replay)

Live Call:

720-634-9063; Conf. ID #8484767

 

To assure timely access, conference call participants should dial in prior to the 5:00 p.m. ET start time.

 

Forward-Looking Statements

 

This release contains information about management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's latest Form 10-K. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

 

About Beacon Roofing Supply

 

Founded in 1928, Beacon Roofing Supply, Inc. is the largest publicly traded distributor of residential and commercial roofing materials and complementary building products, operating 563 branches throughout 50 states in the U.S. and 6 provinces in Canada.  To learn more about Beacon and its family of regional brands, please visit www.becn.com.

 

 

Beacon Roofing Supply, Inc.
Joseph Nowicki, Executive VP & CFO

571-323-3940
JNowicki@becn.com

 



BEACON ROOFING SUPPLY, INC.

Consolidated Statements of Operations

(In thousands, except share and per share amounts)

 

Three Months Ended March 31,

 

 

Six Months Ended March 31,

 

 

20181

 

 

% of

Net Sales

 

 

20172

 

 

% of

Net Sales

 

 

20181

 

 

% of

Net Sales

 

 

20172

 

 

% of

Net Sales

 

Net sales

$

1,425,625

 

 

 

100.0

%

 

$

870,724

 

 

 

100.0

%

 

$

2,547,604

 

 

 

100.0

%

 

$

1,872,908

 

 

 

100.0

%

Cost of products sold

 

1,087,248

 

 

 

76.3

%

 

 

666,247

 

 

 

76.5

%

 

 

1,939,474

 

 

 

76.1

%

 

 

1,417,364

 

 

 

75.7

%

Gross profit

 

338,377

 

 

 

23.7

%

 

 

204,477

 

 

 

23.5

%

 

 

608,130

 

 

 

23.9

%

 

 

455,544

 

 

 

24.3

%

Operating expense

 

395,775

 

 

 

27.8

%

 

 

207,533

 

 

 

23.8

%

 

 

616,432

 

 

 

24.2

%

 

 

411,643

 

 

 

22.0

%

Income (loss) from operations

 

(57,398

)

 

 

(4.1

%)

 

 

(3,056

)

 

 

(0.3

%)

 

 

(8,302

)

 

 

(0.3

%)

 

 

43,901

 

 

 

2.3

%

Interest expense, financing costs, and other

 

39,570

 

 

 

2.8

%

 

 

12,268

 

 

 

1.4

%

 

 

62,138

 

 

 

2.4

%

 

 

25,842

 

 

 

1.4

%

Income (loss) before provision for income taxes

 

(96,968

)

 

 

(6.9

%)

 

 

(15,324

)

 

 

(1.7

%)

 

 

(70,440

)

 

 

(2.7

%)

 

 

18,059

 

 

 

0.9

%

Provision for (benefit from) income taxes

 

(30,313

)

 

 

(2.2

%)

 

 

(5,968

)

 

 

(0.6

%)

 

 

(71,381

)

 

 

(2.7

%)

 

 

6,985

 

 

 

0.3

%

Net income (loss)

 

(66,655

)

 

 

(4.7

%)

 

 

(9,356

)

 

 

(1.1

%)

 

 

941

 

 

 

0.0

%

 

 

11,074

 

 

 

0.6

%

Dividends on preferred shares, declared

 

6,000

 

 

 

0.4

%

 

 

-

 

 

 

0.0

%

 

 

6,000

 

 

 

0.2

%

 

 

-

 

 

 

0.0

%

Net income (loss) attributable to common shareholders

$

(72,655

)

 

 

(5.1

%)

 

$

(9,356

)

 

 

(1.1

%)

 

$

(5,059

)

 

 

(0.2

%)

 

$

11,074

 

 

 

0.6

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

68,019,300

 

 

 

 

 

 

 

60,141,580

 

 

 

 

 

 

 

67,922,276

 

 

 

 

 

 

 

60,041,332

 

 

 

 

 

Diluted

 

68,019,300

 

 

 

 

 

 

 

60,141,580

 

 

 

 

 

 

 

67,922,276

 

 

 

 

 

 

 

61,069,938

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

(1.07

)

 

 

 

 

 

$

(0.16

)

 

 

 

 

 

$

(0.07

)

 

 

 

 

 

$

0.18

 

 

 

 

 

Diluted

$

(1.07

)

 

 

 

 

 

$

(0.16

)

 

 

 

 

 

$

(0.07

)

 

 

 

 

 

$

0.18

 

 

 

 

 

 

1

The second quarter 2018 operating results include $28.3 million ($20.0 million, net of taxes) of non-recurring charges, $37.1 million ($26.1 million, net of taxes) of amortization for acquired intangibles, and $6.3 million ($4.5 million, net of taxes) of interest expense, financing costs, and other for the recognition of certain costs related to acquisitions. The second quarter 2018 also includes a $1.5 million net non-recurring tax benefit. The first half 2018 operating results include $33.9 million ($23.9 million, net of taxes) of non-recurring charges, $55.2 million ($39.1 million, net of taxes) of amortization for acquired intangibles, and $18.6 million ($13.2 million, net of taxes) of interest expense, financing costs, and other for the recognition of certain costs related to acquisitions. The first half 2018 also includes a $48.0 million net non-recurring tax benefit. See “Adjusted Net Income (Loss) and Adjusted EPS” table for further details.

2

The second quarter 2017 operating results include $1.6 million ($1.0 million, net of taxes) of non-recurring charges, $20.3 million ($12.5 million, net of taxes) of amortization for acquired intangibles, and $1.6 million ($1.0 million, net of taxes) of interest expense, financing costs, and other for the recognition of certain costs related to acquisitions. The first half 2017 operating results include $2.7 million ($1.7 million, net of taxes) of non-recurring charges, $40.4 million ($24.8 million, net of taxes) of amortization for acquired intangibles, and $3.1 million ($1.9 million, net of taxes) of interest expense, financing costs, and other for the recognition of certain costs related to acquisitions. See “Adjusted Net Income (Loss) and Adjusted EPS” table for further details.



BEACON ROOFING SUPPLY, INC.

Consolidated Balance Sheets  

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2018

 

 

September 30, 2017

 

 

March 31, 2017

 

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

16,000

 

 

$

138,250

 

 

$

10,012

 

 

Accounts receivable, net

 

832,823

 

 

 

704,527

 

 

 

506,386

 

 

Inventories

 

1,005,577

 

 

 

551,924

 

 

 

580,889

 

 

Prepaid expenses and other current assets

 

240,315

 

 

 

209,138

 

 

 

217,389

 

 

Total current assets

 

2,094,715

 

 

 

1,603,839

 

 

 

1,314,676

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

294,222

 

 

 

156,129

 

 

 

156,380

 

 

Goodwill

 

2,381,620

 

 

 

1,251,986

 

 

 

1,228,059

 

 

Intangibles, net

 

1,410,302

 

 

 

429,069

 

 

 

439,507

 

 

Other assets, net

 

1,511

 

 

 

8,534

 

 

 

1,511

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets

$

6,182,370

 

 

$

3,449,557

 

 

$

3,140,133

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

$

593,559

 

 

$

503,697

 

 

$

486,328

 

 

Accrued expenses

 

348,050

 

 

 

261,297

 

 

 

131,264

 

 

Current portion of long-term obligations

 

19,597

 

 

 

14,141

 

 

 

14,014

 

 

Total current liabilities

 

961,206

 

 

 

779,135

 

 

 

631,606

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings under revolving lines of credit, net

 

424,528

 

 

 

3,205

 

 

 

269,124

 

 

Long-term debt, net

 

2,493,889

 

 

 

721,268

 

 

 

722,101

 

 

Deferred income taxes, net

 

91,101

 

 

 

138,383

 

 

 

137,495

 

 

Long-term obligations under equipment financing and other, net

 

18,313

 

 

 

23,213

 

 

 

28,267

 

 

Other long-term liabilities

 

10,617

 

 

 

2,547

 

 

 

2,372

 

 

Total  liabilities

 

3,999,654

 

 

 

1,667,751

 

 

 

1,790,965

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Convertible preferred stock

$

399,195

 

 

$

-

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

 

 

 

 

 

 

Common stock

 

680

 

 

 

677

 

 

 

602

 

 

Undesignated preferred stock

 

-

 

 

 

-

 

 

 

-

 

 

Additional paid-in capital

 

1,056,248

 

 

 

1,047,506

 

 

 

709,278

 

 

Retained earnings

 

743,127

 

 

 

748,186

 

 

 

658,396

 

 

Accumulated other comprehensive loss

 

(16,534

)

 

 

(14,563

)

 

 

(19,108

)

 

Total stockholders' equity

 

1,783,521

 

 

 

1,781,806

 

 

 

1,349,168

 

 

Total Liabilities and Stockholders' Equity

$

6,182,370

 

 

$

3,449,557

 

 

$

3,140,133

 

 

 



BEACON ROOFING SUPPLY, INC.

Consolidated Statements of Cash Flows

(In thousands)

 

Six Months Ended March 31,

 

 

2018

 

 

2017

 

Operating activities:

 

 

 

 

 

 

 

Net income (loss)

$

941

 

 

$

11,074

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

81,092

 

 

 

56,955

 

Stock-based compensation

 

7,835

 

 

 

7,574

 

Certain interest expense and other financing costs

 

3,987

 

 

 

2,703

 

Loss on debt extinguishment

 

1,725

 

 

 

-

 

Gain on sale of fixed assets

 

(319

)

 

 

(420

)

Deferred income taxes

 

(47,260

)

 

 

2,020

 

Other, net

 

-

 

 

 

131

 

Changes in operating assets and liabilities, net of the effects of businesses acquired:

 

 

 

 

 

 

 

   Accounts receivable

 

186,170

 

 

 

123,590

 

   Inventories

 

(131,789

)

 

 

(92,072

)

   Prepaid expenses and other assets

 

67,425

 

 

 

(53,062

)

   Accounts payable and accrued expenses

 

(130,695

)

 

 

91,950

 

Other liabilities

 

854

 

 

 

87

 

Net cash provided by (used in) operating activities

 

39,966

 

 

 

150,530

 

 

 

 

 

 

 

 

 

Investing activities:

 

 

 

 

 

 

 

Purchases of property and equipment

 

(24,833

)

 

 

(24,231

)

Acquisition of businesses

 

(2,726,561

)

 

 

(58,359

)

Proceeds from sales of assets

 

413

 

 

 

1,285

 

Net cash provided by (used in) investing activities

 

(2,750,981

)

 

 

(81,305

)

 

 

 

 

 

 

 

 

Financing activities:

 

 

 

 

 

 

 

Borrowings under revolving lines of credit, net of repayments

 

433,204

 

 

 

(91,371

)

Borrowings under term loan, net of repayments

 

529,000

 

 

 

(1,125

)

Borrowings under senior notes

 

1,300,000

 

 

 

-

 

Payment of debt issuance costs

 

(67,723

)

 

 

-

 

Repayments under equipment financing facilities and other

 

(5,643

)

 

 

(5,365

)

Proceeds from issuance of convertible preferred stock

 

400,000

 

 

 

-

 

Payment of stock issuance costs

 

(1,279

)

 

 

-

 

Payment of dividends on preferred stock

 

(978

)

 

 

-

 

Proceeds from issuance of common stock related to equity awards

 

5,317

 

 

 

7,840

 

Taxes paid related to net share settlement of equity awards

 

(3,933

)

 

 

(697

)

Net cash provided by (used in) financing activities

 

2,587,965

 

 

 

(90,718

)

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash and cash equivalents

 

800

 

 

 

119

 

 

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

(122,250

)

 

 

(21,374

)

Cash and cash equivalents, beginning of period

 

138,250

 

 

 

31,386

 

Cash and cash equivalents, end of period

$

16,000

 

 

$

10,012

 

 

 



BEACON ROOFING SUPPLY, INC.

Consolidated Sales by Product Line

(Dollars in thousands)

 

 

Consolidated Sales by Product Line

 

 

Three Months Ended March 31,

 

 

 

 

 

 

 

 

 

 

2018

 

 

2017

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

579,650

 

 

 

40.6

%

 

$

484,429

 

 

 

55.6

%

 

$

95,221

 

 

 

19.7

%

Non-residential roofing products

 

331,680

 

 

 

23.3

%

 

 

244,678

 

 

 

28.1

%

 

 

87,002

 

 

 

35.6

%

Complementary building products

 

514,295

 

 

 

36.1

%

 

 

141,617

 

 

 

16.3

%

 

 

372,678

 

 

 

263.2

%

 

$

1,425,625

 

 

 

100.0

%

 

$

870,724

 

 

 

100.0

%

 

$

554,901

 

 

 

63.7

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated Sales by Product Line for Existing Markets1

 

 

Three Months Ended March 31,

 

 

 

 

 

 

 

 

 

 

2018

 

 

2017

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

461,311

 

 

 

53.6

%

 

$

479,435

 

 

 

55.6

%

 

$

(18,124

)

 

 

(3.8

%)

Non-residential roofing products

 

248,209

 

 

 

28.8

%

 

 

243,893

 

 

 

28.3

%

 

 

4,316

 

 

 

1.8

%

Complementary building products

 

151,398

 

 

 

17.6

%

 

 

138,707

 

 

 

16.1

%

 

 

12,691

 

 

 

9.1

%

 

$

860,918

 

 

 

100.0

%

 

$

862,035

 

 

 

100.0

%

 

$

(1,117

)

 

 

(0.1

%)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Existing Market1 Sales By Business Day2

 

 

Three Months Ended March 31,

 

 

 

 

 

 

 

 

 

 

2018

 

 

2017

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

7,208

 

 

 

53.6

%

 

$

7,491

 

 

 

55.6

%

 

$

(283

)

 

 

(3.8

%)

Non-residential roofing products

 

3,878

 

 

 

28.8

%

 

 

3,811

 

 

 

28.3

%

 

 

67

 

 

 

1.8

%

Complementary building products

 

2,366

 

 

 

17.6

%

 

 

2,167

 

 

 

16.1

%

 

 

199

 

 

 

9.1

%

 

$

13,452

 

 

 

100.0

%

 

$

13,469

 

 

 

100.0

%

 

$

(17

)

 

 

(0.1

%)

¹

Excludes acquired branches that have not been under ownership for at least four fiscal quarters prior to the start of the second quarter of fiscal year 2018.

2

There were 64 business days in each of the quarters ended March 31, 2018 and 2017.

 

 

 

 

 

 

 

 

 

 

 

 


BEACON ROOFING SUPPLY, INC.

Consolidated Sales by Product Line

(Dollars in thousands)

 

 

Consolidated Sales by Product Line

 

 

Six Months Ended March 31,

 

 

 

 

 

 

 

 

 

 

2018

 

 

2017

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

1,168,379

 

 

 

45.9

%

 

$

1,013,973

 

 

 

54.1

%

 

$

154,406

 

 

 

15.2

%

Non-residential roofing products

 

660,680

 

 

 

25.9

%

 

 

557,127

 

 

 

29.7

%

 

 

103,553

 

 

 

18.6

%

Complementary building products

 

718,545

 

 

 

28.2

%

 

 

301,808

 

 

 

16.2

%

 

 

416,737

 

 

 

138.1

%

 

$

2,547,604

 

 

 

100.0

%

 

$

1,872,908

 

 

 

100.0

%

 

$

674,696

 

 

 

36.0

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated Sales by Product Line for Existing Markets1

 

 

Six Months Ended March 31,

 

 

 

 

 

 

 

 

 

 

2018

 

 

2017

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

1,041,864

 

 

 

53.6

%

 

$

1,008,718

 

 

 

54.2

%

 

$

33,146

 

 

 

3.3

%

Non-residential roofing products

 

571,984

 

 

 

29.4

%

 

 

554,367

 

 

 

29.8

%

 

 

17,617

 

 

 

3.2

%

Complementary building products

 

329,737

 

 

 

17.0

%

 

 

298,483

 

 

 

16.0

%

 

 

31,254

 

 

 

10.5

%

 

$

1,943,585

 

 

 

100.0

%

 

$

1,861,568

 

 

 

100.0

%

 

$

82,017

 

 

 

4.4

%