Organic growth drives strong sales for Beacon

Beacon had net sales of $1.91 billion for the first quarter of 2024, an increase of 10.4 percent compared to net sales in the first quarter of 2023. The increase was driven by organic volume growth and acquired branches, which contributed more than three percent to the increase. Residential roofing product sales increased 9.1 percent year over year, non-residential roofing product sales increased 17.6 percent, and complementary product sales increased 5.4 percent. The company had gross margin of 24.7 percent for the quarter, down from 25.5 percent in the prior-year period. Net income was $5.6 million, down from $24.8 million in the first quarter of 2023. Adjusted EBITDA was $103.1 million compared to $113.0 million.