Peabody, Mass.-based Beacon Roofing Supply CEO Paul Isabella added color to his company’s record sales performance for the quarter and the full year.
For the quarter, residential sales were up 4.8%, commercial sales were up 8.3%, and complementary sales were up 3.4%. “This marks two consecutive quarters where all three product lines have seen positive organic growth, 1.2% last quarter and 6% this quarter.”
He described the company’s market as “large and growing.”
Earnings for the company were below expectations, “but considering the competitive price pressure we felt, we feel good about our progress.”
Net income for the fourth quarter was $27.4 million compared with $27.9 million in 2012.