Residential Roofing Boosts Beacon Earnings

Beacon had net sales of $1,318 million for the second quarter of its fiscal 2021 year, an increase of 10.1 per cent over net sales of $1,197.1 for the second quarter of 2020. The increase reflects strong residential roofing and complementary products growth as well as the successful implementation of price increases, partially offset by softer demand for non-residential products. Residential roofing product sales increased 18.7 per cent, complementary product sales increased 9.4 per cent, and non-residential roofing product sales decreased 4.1 per cent compared to the prior year. The company had a net loss of $10.5 million for the quarter compared to a net loss of $121.3 million in the year-ago period.