Beacon has strong Q4

Beacon had net sales of $2.3 billion for the fourth quarter of 2023, an increase of 16.8 percent compared with net sales of $1.97 billion in the fourth quarter of 2022. The increase in net sales was driven by organic volume growth over the last four quarters. Residential roofing product sales increased 20.2 percent year over year, non-residential roofing product sales increased 11.4 percent, and complementary product sales increased 16.0 percent. Overall gross margin decreased to 25.7 percent, from 26.2 percent in the prior-year period, as higher product costs offset higher average selling prices for products. Net income was $95.1 million for the quarter compared to $73.3 million in the year-ago quarter. Adjusted EBITDA was $216.7 million compared to $178.5 million in 2022.