Beacon Roofing Supply reports 12% gain in Q3 sales
Beacon Roofing Supply reported strong gains in the third quarter, with sales up 12% on a year-over-year basis and net income up 7% from 2012’s $25.4 million.
Specifically, net Q3 sales came in at $627 million versus last year’s $561 million. Residential and non-residential roofing products sales increased 0.2% and 1.1%, respectively, in existing markets. Complementary product sales rose 5.2%.
Net income came in at $27.2 million, despite a company statement that Q3 performance was adversely affected by heavy rains and fewer hail storms.
“We experienced a challenging demand environment during the third quarter of fiscal 2013; however, we still recorded double-digit growth with sales up 12% over last year," said president and CEO Paul Isabella. "Our total sales benefited from the positive impact of several acquisitions made since the start of last year, as well as a 1.2% increase in organic sales in the quarter. The soft demand led to pricing pressures that negatively impacted our gross margins, although our continued focus on expense controls enabled us to limit the impact on earnings. Our fourth quarter sales volumes are off to a good start and we will continue to focus on opening new branches, smart acquisition growth and improving our gross margins.”
Beacon acquired 19 branches thus far in 2013, with two additional branches opened in the third quarter.
New role for Georgia-Pacific exec
Georgia-Pacific consumer products manufacturing division named Gary W. Kaiser head of its Crossett, Ark., manufacturing operations.
He replaces Karen Dickinson, who retired.
"It’s an honor to return to Crossett,” said Kaiser. “I consider it a privilege to be a part of a mill that takes pride in making the best products for our customers. I’ve always had a deep respect for the Crossett mill, its employees, families and the community. I’m dedicated to creating a workplace where no one is ever injured by ongoing training of employees and continuous improvement of our practices. The mill will continue to work closely with non-profit organizations for the betterment of the communities where our employees live, and we will always strive to be a good neighbor and friend.”
Kaiser previously was VP of Georgia-Pacific’s Camas, Wash., operations.
EcoPlanet Bamboo sets 1 million-acre reforestation goal
After concluding a first phase of growth that involved the strategic reforestation of 10,000 acres of degraded land, EcoForest Bamboo is raising the bar to 1 million acres to mark its latest goal.
“While our achievements to date are still a long way from our 1,000,000 acre goal, they have proved not only that we can, but that we are committed to industrializing bamboo in a way that benefits the local community, is environmentally positive, and enables the feedstock security that multinational corporations require to ultimately move away from unsustainable logging practices, and make the switch to an alternative fiber,” said Troy Wiseman, CEO of EcoPlanet Bamboo Group.
The company’s initial reforestation effort, which took place in Central American and Southern Africa, was aimed at demonstrating the commercial viability of bamboo as a wood alternative in varied climates. The company also gained accreditation from the World Bank and the World Wildlife Fund, among other institutions.
The second phase of growth will be concentrated in Southeast Asia, Brazil and Africa, and will be split into smaller dedicated plantations of 25,000 – 100,000 acres.