Content about Beacon Roofing Supply

Beacon Roofing Supply has appointed Joseph Nowicki as executive VP, chief financial officer and treasurer, effective March 25. Nowicki will oversee finance, information technology and investor relations and will be located in the company's Herndon, Va., office.

Peabody, Mass.-based Beacon Roofing Supply sales increased 4.9% to $513.7 million in the first quarter, up from $489.9 million in the same quarter last year.

Existing-store sales declined 4.6%, or 7.7%, when adjusted to the same number of business days.

Beacon Roofing Supply, one of the nation’s largest distributors of roofing, siding and other exterior building products, reported sales of $598.1 million for its fourth fiscal quarter, a 3.9% increase from sales of $575.6 million in the same period a year ago.

The average price for a gallon of gas continued to decline last week -- down to $3.55. Beacon Roofing Supply and Newell Rubbermaid pace the stocks on the Home Channel Stock Roundup.

Beacon Roofing Supply, one of the nation’s largest distributors of roofing, siding and other exterior building products, reported sales of $560.5 million for its third fiscal quarter, a 3.7% rise over sales of $540.7 million in the same quarter of 2011. Existing-market or same-store sales, which exclude branches acquired after the beginning of last year's third quarter, declined 1.5%.

Beacon Roofing Supply, one of the industry’s largest distributors of roofing and exterior building products, has announced the addition of Richard (Rick) Frost and Neil Novich to its board of directors, effective immediately.

Beacon Roofing Supply, one of the nation’s largest distributors of roofing and other exterior building products, has acquired Structural Materials, Co., a distributor of residential and commercial roofing products. Headquartered in Santa Ana, Calif., Structural has six locations in Los Angeles and Orange counties. The 64-year-old company had total annual sales of approximately $81 million in 2011.

Beacon Roofing Supply has reached an agreement to acquire Cassady Pierce Co., a distributor of residential and commercial roofing products, for an undisclosed sum. Founded in 1947, Cassady Pierce has six locations in the Pittsburgh area and annual sales of approximately $52 million. Closing on the transaction is expected on May 31, 2012. 

Beacon Roofing Supply, the Peabody, Mass-based supplier of roofing and other exterior building products, has promoted Kent Gardner to executive VP west division. The company's west division is currently comprised of three regions: Shelter Distribution-Midwest, Shelter Distribution-Southwest and Pacific Supply.

Gardner joined Beacon in 2005 and was promoted to VP in March 2007 and to senior VP in January 2011. Prior to that, he served in the U.S. Army.

Beacon Roofing Supply has posted first-quarter net income of $19.1 million compared with $10.1 million in the year-ago quarter. The company cited higher sales and gross margin rate, partially offset by the impact from higher operating expenses and a higher income tax provision for the increase.

Total sales for the first quarter ended Dec. 31, 2011, totaled $489.9 million, up 21% from $404.8 million in the same quarter a year ago.

Beacon Roofing Supply appointed Rick C. Welker as VP and chief accounting officer effective Nov. 18. 

Welker formerly served as VP and corporate controller and will continue to report to David R. Grace, executive VP and chief financial officer. 

Welker, age 52, is a CPA and CMA and began his career with PricewaterhouseCoopers. He joined Beacon in 2004 prior to its IPO and has assisted with the company's substantial growth including many acquisitions, according to the company's statement.

Peabody, Mass.-based Beacon Roofing Supply has acquired The Roofing Connection, a distributor of residential roofing products and related accessories with one location in the Halifax suburb of Dartmouth, Nova Scotia. The Roofing Connection will be operated as part of Beacon Roofing Supply Canada Co.