Beacon Q3 sales up seven percent

Beacon had net sales of $2,584 million for the third quarter of 2023, a seven percent increase over net sales of $2,415 million for the third quarter of 2022. The increase in net sales was largely driven by the contributions of acquired branches and Greenfields over the last four quarters. Residential roofing product sales increased 13.6 percent, non-residential roofing product sales decreased 7.6 percent, and complementary product sales increased 12.7 percent compared to the prior year. Gross margin for the quarter decreased slightly to 26 percent, from 26.1 percent in the prior year. The company had net income of $161.3 million compared to $154.8 million in the prior year and adjusted EBITDA of $309.6 million compared to $284.2 million.