Beacon Roofing Supply Reports Third Quarter 2012 Results

Reissuing release to add ticker symbol for searching purposes.

The release reads:

BEACON ROOFING SUPPLY REPORTS THIRD QUARTER 2012 RESULTS
  • Record third quarter sales of $561 million vs. $541 million.
  • Record third quarter EPS of $0.53 ($0.62 adjusted) vs. $0.51.
  • Record nine-month EPS of $1.00 ($1.07 adjusted) vs. $0.60.
  • Nine-month existing market sales up 12%.

Beacon Roofing Supply, Inc. (the “Company”) (NASDAQ: BECN) announced results today for its third quarter and nine months ended June 30, 2012 of the fiscal year ending September 30, 2012 (“fiscal 2012”).

Paul Isabella, the Company’s President & Chief Executive Officer, stated: “We are very pleased with our record quarter and year-to-date results, which, after adjusting for special charges, significantly exceeded our expectations once again. Most of our regions are having an exceptional year. Our total sales have benefited from the positive impact from acquisitions, while our sales in existing markets for the third quarter fell only 1.5%. Sales in our existing markets were up against a very strong 11.6% increase in last year’s third quarter, when there was substantial roofing activities beginning in June from the Spring 2011 hail storms. In addition, the much warmer winter conditions this year brought some roofing and exterior remodeling activities into our second quarter that would have otherwise been performed in our third quarter. Year-over-year price increases in our industry flattened in the third quarter but average selling prices were still slightly higher than last year. Our gross margin and operating margin continued to improve. Our new credit facility and strong balance sheet are enabling us to accelerate our growth, as we did with our most recent acquisitions of Structural Materials Company in Southern California in early July and Contractors Roofing & Supply Co. in St. Louis last week. We are confident that we will add other quality companies in the near future that fit our target acquisition profile. Although we will be up against tough comparisons again in the fourth quarter, we expect a solid finish to fiscal 2012.”

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