Contractor Talk - Professional Construction and Remodeling Forum banner

1 - 7 of 7 Posts

·
Registered
Joined
·
8,573 Posts
Discussion Starter · #1 ·
Beacon Roofing Supply Reports $19 Million 4Q Profit, Record Earnings for Year
12/02/2009
Beacon Roofing Supply, Inc. reported a $19 million profit in its fourth quarter, on sales of $487.7 million. While both suffered declines on a year-over-year basis, the company still delivered record earnings for the year. Net income in 2009 was a record $52.4 million compared to $40.3 million in 2008, up 30.1%.

Robert Buck, the Company's Chairman & Chief Executive Officer, stated: "We are very pleased to deliver record annual earnings for our shareholders in a still very difficult economic climate, and I congratulate our employees for their hard work and dedication in achieving these results. Our focus on cost controls, exceptional customer service and working capital management during 2009 has positioned us well to continue to deliver solid results, grow our Company, and increase shareholder value in 2010 even amidst the continuing softness in new residential and commercial construction."

Beacon Roofing Supply, Inc. is a leading distributor of roofing materials and complementary building products operating 172 branches in 37 states in the United States and in three provinces in Eastern Canada.
 

·
Registered
Joined
·
1,934 Posts
Has nothing to do with mark up. Just think, 10-12 years ago there wasn't a million "contractors" with 4 million illegals doing insurance jobs around the country. Beacon is just working on quantity.
 

·
Registered
Joined
·
8,573 Posts
Discussion Starter · #7 ·
I have accounts with two of Beacon's distributor franchises. I've nothing against them making money. I find their prices to be in line with what I am paying elsewhere and their service has been top notch. Becaon has bought out alot of other smaller distributors which is how they got so large. I have had problems when they were in the transitional stages, but again I have no problem with them.

I think the bulk of the profit is going to the manufacturers, not suppliers, in regards to the griping above about prices. Suppliers are nothing more than middle men for those of us who can't afford to buy direct. Furthermore, if they are making money, there is no reason the roofers shouldn't be making money too. It means there are jobs outhere. Although now it's the holidays and damned cold, all we are doing is repairs and maintenance.
 
1 - 7 of 7 Posts
Top