Mar 3, 2023
Price Increases Contribute To Beacon Gains
Beacon had net sales of $1.97 billion in the fourth quarter of 2022, an increase of 12.2 per cent compared to net sales of $1.75 billion from the year-ago period. The increase was driven by the implementation of price increases. By line of business, residential roofing products had net sales of $967.1 million in the quarter, a 5.1 per cent increase year over year. Non-residential roofing products had net revenue of $562.6 million, a gain of 25.2 per cent compared to the year-ago period. Complementary building products had net sales of $439.7 million, a 14 per cent increase from $385.7 million for the same period in 2021. Net income was $73.3 million, a rise of 3.1 per cent versus $68.1 million from the prior-year period.
Sign up for our Daily News Alerts to receive relevant industry news, articles, and previews for our next issue of Home Improvement Retailing. Delivered directly to your inbox. Subscribe here.