Higher Prices Benefit Beacon Sales

Beacon had net sales of $1.88 billion for the fourth quarter of fiscal 2021, an increase of 6.9 per cent over net sales of $1.76 billion in the fourth quarter of fiscal 2020. Sales increased across all three lines of business, largely driven by the realization of higher prices. Net sales for the residential roofing products segment increased 3.1 per cent year-over-year; net sales for the non-residential roofing products segment increased seven per cent; and net sales for the complementary building products increased 17 per cent. Overall gross margin was 27.1 per cent compared to 25.1 per cent in the prior-year period. The company had net income of $104.5 million compared to $68.2 million in the year-ago period and adjusted earnings of $208.1 million compared to $104.5 million.