Loss widens at Beacon Roofing Supply
Herndon, Virginia-based Beacon Roofing Supply joined the long list of LBM-related companies to report a negative impact from severe winter weather.
Sales decreased 7.5% to $384.9 million during the company’s second quarter ended March 31.
On an overall consolidated basis, residential roofing product sales decreased 12.1%, non-residential roofing product sales decreased 2.3%, and complementary product sales decreased 4.1%.
The company posted a net loss of $12.1 million in the quarter, compared with a net loss of $0.2 million in 2013.
“Severe winter weather that ranked among the 10 coldest on record in many states across the upper Midwest to the Southeast had a significant impact on our results this quarter,” said Paul Isabella, the company’s president and CEO. “Multiple winter storms that brought record snowfall and freezing rain delayed both residential and commercial roofing projects across our core markets.”
Isabella also pointed to strategic investments in equipment and inventory during the soft period.
The company opened its eighth new branch of the year, and is planning on adding up to 25 new branches for the full year. It currently operates 249 branches.
“We believe the second half of the year volume will be strong for both our residential and commercial markets,” Isabella added.
At NHS, winners scoop up All-American Awards
Las Vegas — Special guest John Ratzenberger (and a handful of industry pros) took some time out at the National Hardware Show Wednesday to present a couple of quick awards to some especially patriotic companies.
The All-American Awards recognizes companies in the building products industry with an especially strong commitment to Made in USA.
Among the winners this year were Gorilla Glue for Best Packaging, Adams Manufacturing for Best Booth Display and Bully Tools for Best On-Site Marketing.
The awards ceremony was just the cherry on top of a Made-in-USA-fueled day, where visitors had the chance to visit a first-ever dedicated section on the show floor to Made in USA products. Over 125 companies were represented there.
John Ratzenberger is perhaps best known for his role on Cheers, but he was present in full force presenting the awards and at the Made in USA Grand Opening Ceremony on Wednesday, where he discussed the importance of the homegrown manufacturing cause.
Andersen pumps $18 million into Bayport facility
Andersen Corporation is anticipating an $18 million expansion of its manufacturing facility in Bayport, Minnesota, a move that’s expected to add 100 full-time jobs to the local economy.
The project will involve improvements on an existing building at its complex and the purchase of new machinery.
Andersen will also get some help from the Minnesota Department of Employment and Economic Development (DEED), which will award the company $625,000 from the Minnesota Job Creation Fund provided it meets its performance goals.
“The assistance we received from DEED, and organizations such as Greater MSP, helped ensure this significant expansion happened in our home state,” said chairman, president and CEO Jay Lund. “We had several location options to choose from and selected Minnesota because of the experienced workforce, our integrated supply chain model and the ability to leverage capacity at our flagship plant in Bayport.”
The new jobs added thanks to this expansion will pay an average hourly wage of $19.00, including benefits.
“Over more than a century, Andersen Corporation has employed thousands of Minnesotans and has successfully grown into one of the largest window manufacturers in North America,” said Governor Mark Dayton. “We are very grateful that this great Minnesota company has chosen to expand its manufacturing facility in Bayport, creating 100 more good-paying jobs for Minnesota workers. Thank you, Andersen!”
Andersen has been centered in Bayport since 1913, employing 9,000 people at various locations across North America.