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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.

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