Form 8-K BEACON ROOFING SUPPLY For: Nov 20

November 20, 2017 4:50 PM

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 20, 2017

 

BEACON ROOFING SUPPLY, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

000-50924

36-417337

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

505 Huntmar Park Drive, Suite 300

Herndon, VA

 

20170

(Address of Principal Executive Offices)

 

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (571) 323-3939

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 

 

 


Item 2.02

Results of Operations and Financial Condition

On November 20, 2017, Beacon Roofing Supply, Inc. (the “Company”) issued a press release providing information regarding earnings for the fourth quarter and fiscal year ended September 30, 2017. A copy of the press release is attached hereto as Exhibit 99.1.

On November 20, 2017, the Company delivered a presentation as part of the webcast for the earnings conference call for the fourth quarter and fiscal year ended September 30, 2017. A copy of the presentation is attached hereto as Exhibit 99.2.

The information including Exhibit 99.1 and Exhibit 99.2 in this Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this Form 8-K shall not be incorporated by reference into any filing under the Securities Act of 1933, except as shall otherwise be expressly set forth by specific reference in such filing.

 

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

 

Exhibit Index

Exhibit

Number

 

Description

99.1

 

Beacon Roofing Supply, Inc. press release dated November 20, 2017

99.2

 

Beacon Roofing Supply, Inc. FY 2017 fourth quarter and fiscal year earnings presentation dated November 20, 2017

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

 

 

BEACON ROOFING SUPPLY, INC.

 

 

 

 

Date: November 20, 2017

 

By:

/s/ JOSEPH M. NOWICKI

 

 

 

JOSEPH M. NOWICKI

 

 

 

Executive Vice President & Chief Financial Officer

 

 

Exhibit 99.1

 

November 20, 2017

 

Beacon Roofing Supply Reports Fourth Quarter and Fiscal Year 2017 Results

 

 

Record fourth quarter net sales of $1.3 billion (9.8% growth year-over-year)

 

Fourth quarter EPS of $0.73 ($0.93 Adjusted) vs. $0.78 ($0.88 Adjusted) in the prior year

 

Record full fiscal year net sales of $4.4 billion (6.0% growth year-over-year)

 

Fiscal year EPS of $1.67 ($2.18 Adjusted) vs. $1.49 ($2.10 Adjusted) in the prior year

 

Completed five acquisitions totaling 23 branches and opened 4 greenfield locations in fiscal year 2017

 

On August 24, announced agreement to acquire 208 branch Allied Building Products for $2.6 billion with anticipated January 2, 2018 closing

HERNDON, VA. — (BUSINESS WIRE) — Beacon Roofing Supply, Inc. (NASDAQ: BECN) announced results today for its fourth quarter and fiscal year ended September 30, 2017 (“2017” or “Fiscal 2017”).

 

Paul Isabella, the Company’s President and Chief Executive Officer, stated: “Fiscal 2017 produced a second consecutive year of record sales, Adjusted EBITDA and Adjusted EPS. In addition, we saw robust operating cash flow generation of approximately $315 million, which is almost a threefold improvement over the prior year. We are pleased with our fourth quarter performance, and even more excited about the future, as monthly sales trends accelerated throughout the quarter and early 2018 visibility is supported by solid re-roofing trends and two meaningful storm events. Our residential roofing product line posted its 14th consecutive quarter of sales growth and remained our strongest performing sector. Overall sales growth was very balanced among our three categories as commercial roofing produced positive growth with a mid-single digit increase. Our complementary product line also posted a 7.3% daily sales increase, the result of Beacon’s targeted efforts and solid underlying end market trends. Our 2017 gross margin percentage finished above robust 2016 levels and represented our best annual performance as a public company ever. Adding to our great financial performance in 2017 was our August 24th announcement of the Allied Building Products acquisition, which remains on track to close on schedule on January 2nd. The addition of Allied will enable Beacon to reach new heights in 2018, delivering new products and better service to our customers, stronger results for our shareholders and greater career opportunities for our employees. These are exciting times at Beacon, as our industry outlook remains positive and Beacon’s position to achieve profitable growth is stronger than ever.”

  

Fourth Quarter

 

Total sales increased 9.8% to a fourth quarter record of $1.29 billion in 2017, from $1.17 billion in 2016.  Residential roofing product sales increased 9.3%, non-residential roofing product sales increased 5.3%, and complementary product sales increased 20.7% over the prior year. Existing markets same day sales, excluding acquisitions, increased 8.2% for the quarter. The fourth quarter of fiscal years 2017 and 2016 had 63 and 64 business days, respectively.

 

Net income for the fourth quarter was $45.1 million, compared to $47.4 million in 2016. Fourth quarter EPS was $0.73, compared to $0.78 in 2016. Adjusted Net Income (Loss), after removing the impact of non-recurring costs related to acquisitions and certain incremental amortization of intangibles related to the RSG acquisition, was $57.8 million in the fourth quarter 2017, compared to $53.6 million in 2016. Fourth quarter Adjusted EPS was $0.93, compared to $0.88 in 2016. (See included financial tables for a reconciliation of “Adjusted” financial measures to the most directly comparable GAAP financial measures). Fourth quarter results were positively impacted by strong net sales growth within each of our three product lines. Compared to the prior year, fiscal year 2017 operating performance was negatively impacted by lower gross margins and higher operating costs.

 

Fiscal Year

 

Total sales increased 6.0% to an annual record of $4.38 billion in 2017, from $4.13 billion in 2016. Residential roofing product sales increased 8.7%, non-residential roofing product sales decreased 4.4%, and complementary product sales increased 19.5% over the


prior year. Existing market same day sales, excluding acquisitions, increased 3.4% year to date. Fiscal years 2017 and 2016 had 252 and 254 business days, respectively.

 

Net income for the full-year was $100.9 million, compared to $89.9 million in 2016. 2017 EPS was $1.64, compared to $1.49 in 2016. Adjusted Net Income (Loss), after removing the impact of non-recurring costs related to acquisitions and certain incremental amortization of intangibles related to the RSG acquisition, was $133.6 million year to date, compared to $126.5 million in 2016. 2017 Adjusted EPS was $2.18, compared to $2.10 in 2016. (See included financial tables for a reconciliation of “Adjusted” financial measures to the most directly comparable GAAP financial measures). Compared to the prior year, fiscal year 2017 results were positively impacted by strong net sales growth within our residential roofing and complementary product lines, partially offset by a net sales decrease in our non-residential roofing product line.

 

The Company will host a webcast and conference call today at 5:00 p.m. ET to discuss these results. The webcast link and call-in details are as follows:

What:

Beacon Roofing Supply Fourth Quarter and Fiscal Year 2017 Earnings Results Webcast and Conference Call

When

Monday, November 20, 2017

Time:

5:00 p.m. ET

Webcast:

http://ir.beaconroofingsupply.com/events.cfm (live and replay)

Live Call:

720-634-9063; Conf. ID #6068898

 

To assure timely access, conference call participants should dial in prior to the 5:00 p.m. start time.

 

Forward-Looking Statements

 

This release contains information about management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's latest Form 10-K. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

 

About Beacon Roofing Supply

 

Founded in 1928, Beacon Roofing Supply, Inc. is the largest publicly traded distributor of residential and commercial roofing materials and complementary building products, operating 382 branches throughout 48 states in the U.S. and 6 provinces in Canada.  To learn more about Beacon and its family of regional brands, please visit www.becn.com.

 

BECN-F

 

Beacon Roofing Supply, Inc.
Joseph Nowicki, Executive VP & CFO

571-323-3940
JNowicki@becn.com

 



BEACON ROOFING SUPPLY, INC.

Consolidated Statements of Operations

(In thousands, except share and per share amounts)

 

Three Months Ended September 30,

 

 

 

Year Ended September 30,

 

 

20171

 

 

% of

Net Sales

 

 

20162

 

 

% of

Net Sales

 

 

 

20171

 

 

% of

Net Sales

 

 

20162

 

 

% of

Net Sales

 

Net sales

$

1,289,868

 

 

 

100.0

%

 

$

1,174,366

 

 

 

100.0

%

 

 

$

4,376,670

 

 

 

100.0

%

 

$

4,127,109

 

 

 

100.0

%

Cost of products sold

 

967,227

 

 

 

75.0

%

 

 

872,324

 

 

 

74.3

%

 

 

 

3,300,731

 

 

 

75.4

%

 

 

3,114,040

 

 

 

75.5

%

Gross profit

 

322,641

 

 

 

25.0

%

 

 

302,042

 

 

 

25.7

%

 

 

 

1,075,939

 

 

 

24.6

%

 

 

1,013,069

 

 

 

24.5

%

Operating expense

 

235,317

 

 

 

18.2

%

 

 

206,164

 

 

 

17.6

%

 

 

 

859,843

 

 

 

19.6

%

 

 

808,085

 

 

 

19.6

%

Income from operations

 

87,324

 

 

 

6.8

%

 

 

95,878

 

 

 

8.1

%

 

 

 

216,096

 

 

 

5.0

%

 

 

204,984

 

 

 

4.9

%

Interest expense, financing costs, and other

 

13,512

 

 

 

1.0

%

 

 

16,944

 

 

 

1.4

%

 

 

 

52,751

 

 

 

1.2

%

 

 

58,452

 

 

 

1.4

%

Income before provision for income taxes

 

73,812

 

 

 

5.8

%

 

 

78,934

 

 

 

6.7

%

 

 

 

163,345

 

 

 

3.8

%

 

 

146,532

 

 

 

3.5

%

Provision for income taxes

 

28,681

 

 

 

2.3

%

 

 

31,542

 

 

 

2.7

%

 

 

 

62,481

 

 

 

1.5

%

 

 

56,615

 

 

 

1.3

%

Net income

$

45,131

 

 

 

3.5

%

 

$

47,392

 

 

 

4.0

%

 

 

$

100,864

 

 

 

2.3

%

 

$

89,917

 

 

 

2.2

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common stock outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

60,861,950

 

 

 

 

 

 

 

59,814,221

 

 

 

 

 

 

 

 

60,315,648

 

 

 

 

 

 

 

59,424,372

 

 

 

 

 

Diluted

 

61,880,280

 

 

 

 

 

 

 

60,839,414

 

 

 

 

 

 

 

 

61,344,263

 

 

 

 

 

 

 

60,418,067

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.74

 

 

 

 

 

 

$

0.79

 

 

 

 

 

 

 

$

1.67

 

 

 

 

 

 

$

1.51

 

 

 

 

 

Diluted

$

0.73

 

 

 

 

 

 

$

0.78

 

 

 

 

 

 

 

$

1.64

 

 

 

 

 

 

$

1.49

 

 

 

 

 

 

¹   The fourth quarter 2017 operating results include $11.0 million ($6.8 million, net of taxes) of non-recurring charges, $8.3 million ($5.1 million, net of taxes) of additional amortization for acquired intangibles, and $1.2 million ($0.7 million, net of taxes) of interest expense, financing costs, and other for the recognition of certain costs related to acquisitions. Fiscal year 2017 operating results include $15.7 million ($9.7 million, net of taxes) of non-recurring charges, $32.0 million ($19.7 million, net of taxes) of additional amortization for acquired intangibles, and $5.4 million ($3.3 million, net of taxes) of interest expense, financing costs, and other for the recognition of certain costs related to acquisitions. See “Adjusted Net Income (Loss) and Adjusted EPS” table for further details.

²  The fourth quarter 2016 operating results include $1.4 million ($1.2 million, net of taxes) of non-recurring charges, $5.7 million ($3.6 million, net of taxes) of additional amortization for acquired intangibles, and $2.1 million ($1.4 million, net of taxes) of interest expense, financing costs, and other for the recognition of certain costs related to acquisitions. Fiscal year 2016 operating results include $29.1 million ($17.9 million, net of taxes) of non-recurring charges, $22.8 million ($14.0 million, net of taxes) of additional amortization for acquired intangibles, and $7.6 million ($4.7 million, net of taxes) of interest expense, financing costs, and other for the recognition of certain costs related to acquisitions. See “Adjusted Net Income (Loss) and Adjusted EPS” table for further details.

 

 



BEACON ROOFING SUPPLY, INC.

Consolidated Balance Sheets  

(In thousands)

 

September 30,

 

 

2017

 

 

2016

 

Assets

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

Cash and cash equivalents

$

138,250

 

 

$

31,386

 

Accounts receivable, net

 

704,527

 

 

 

626,965

 

Inventories

 

551,924

 

 

 

480,736

 

Prepaid expenses and other current assets

 

209,138

 

 

 

163,103

 

Total current assets

 

1,603,839

 

 

 

1,302,190

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

156,129

 

 

 

148,569

 

Goodwill

 

1,251,986

 

 

 

1,197,565

 

Intangibles, net

 

429,069

 

 

 

464,024

 

Other assets, net

 

8,534

 

 

 

1,511

 

 

 

 

 

 

 

 

 

Total Assets

$

3,449,557

 

 

$

3,113,859

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Accounts payable

$

503,697

 

 

$

360,915

 

Accrued expenses

 

261,297

 

 

 

161,113

 

Current portion of long-term obligations

 

14,141

 

 

 

14,811

 

Total current liabilities

 

779,135

 

 

 

536,839

 

 

 

 

 

 

 

 

 

Borrowings under revolving lines of credit, net

 

3,205

 

 

 

359,661

 

Long-term debt, net

 

721,268

 

 

 

722,929

 

Deferred income taxes, net

 

138,383

 

 

 

135,482

 

Long-term obligations under equipment financing and other, net

 

25,760

 

 

 

35,121

 

Total  liabilities

 

1,667,751

 

 

 

1,790,032

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

 

Common stock

 

677

 

 

 

598

 

Undesignated preferred stock

 

-

 

 

 

-

 

Additional paid-in capital

 

1,047,506

 

 

 

694,564

 

Retained earnings

 

748,186

 

 

 

647,322

 

Accumulated other comprehensive loss

 

(14,563

)

 

 

(18,657

)

Total stockholders' equity

 

1,781,806

 

 

 

1,323,827

 

Total Liabilities and Stockholders' Equity

$

3,449,557

 

 

$

3,113,859

 

 



BEACON ROOFING SUPPLY, INC.

Consolidated Statements of Cash Flows

(In thousands)

 

Year Ended September 30,

 

 

2017

 

 

2016

 

Operating activities:

 

 

 

 

 

 

 

Net income

$

100,864

 

 

$

89,917

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

116,467

 

 

 

100,191

 

Stock-based compensation

 

15,071

 

 

 

17,749

 

Certain interest expense and other financing costs

 

10,497

 

 

 

8,329

 

Gain on sale of fixed assets

 

(839

)

 

 

(1,882

)

Deferred income taxes

 

393

 

 

 

25,200

 

Other, net

 

-

 

 

 

-

 

Changes in operating assets and liabilities, net of the effects of businesses acquired:

 

 

 

 

 

 

 

   Accounts receivable

 

(60,185

)

 

 

(30,408

)

   Inventories

 

(51,768

)

 

 

43,489

 

   Prepaid expenses and other assets

 

(44,208

)

 

 

(12,841

)

   Accounts payable and accrued expenses

 

228,908

 

 

 

(119,096

)

Net cash provided by operating activities

 

315,200

 

 

 

120,648

 

 

 

 

 

 

 

 

 

Investing activities:

 

 

 

 

 

 

 

Purchases of property and equipment

 

(39,828

)

 

 

(26,315

)

Acquisition of businesses

 

(129,390

)

 

 

(1,018,188

)

Proceeds from sales of assets

 

2,233

 

 

 

1,882

 

Net cash used in investing activities

 

(166,985

)

 

 

(1,042,621

)

 

 

 

 

 

 

 

 

Financing activities:

 

 

 

 

 

 

 

Borrowings under revolving lines of credit, net of repayments

 

(369,102

)

 

 

350,927

 

Borrowings under term loan, net of repayments

 

(4,500

)

 

 

259,875

 

Borrowings under Senior Notes

 

-

 

 

 

300,000

 

Borrowings under equipment financing facilities and other, net of repayments

 

(10,034

)

 

 

(4,724

)

Payment of debt issuance costs

 

(1,669

)

 

 

(28,325

)

Proceeds from secondary offering of common stock

 

345,503

 

 

 

-

 

Payment of issuance costs from secondary offering of common stock

 

(14,684

)

 

 

-

 

Proceeds from issuance of common stock related to equity awards

 

11,341

 

 

 

24,160

 

Taxes paid related to net share settlement of equity awards

 

(392

)

 

 

(2

)

Excess tax benefit from stock-based compensation

 

2,937

 

 

 

4,956

 

Net cash provided by (used in) financing activities

 

(40,600

)

 

 

906,867

 

 

 

 

 

 

 

 

 

Effect of exchange rate changes on cash

 

(751

)

 

 

831

 

 

 

 

 

 

 

 

 

Net increase (decrease) in cash and cash equivalents

 

106,864

 

 

 

(14,275

)

Cash and cash equivalents, beginning of period

 

31,386

 

 

 

45,661

 

Cash and cash equivalents, end of period

$

138,250

 

 

$

31,386

 

 

 



BEACON ROOFING SUPPLY, INC.

Consolidated Sales by Product Line

(Dollars in thousands)

 

 

Consolidated Sales by Product Line

 

 

Three Months Ended September 30,

 

 

 

 

 

 

 

 

 

 

2017

 

 

2016

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

699,100

 

 

 

54.2

%

 

$

639,852

 

 

 

54.5

%

 

$

59,248

 

 

 

9.3

%

Non-residential roofing products

 

373,720

 

 

 

29.0

%

 

 

354,746

 

 

 

30.2

%

 

 

18,974

 

 

 

5.3

%

Complementary building products

 

217,048

 

 

 

16.8

%

 

 

179,768

 

 

 

15.3

%

 

 

37,280

 

 

 

20.7

%

 

$

1,289,868

 

 

 

100.0

%

 

$

1,174,366

 

 

 

100.0

%

 

$

115,502

 

 

 

9.8

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated Sales by Product Line for Existing Markets1

 

 

Three Months Ended September 30,

 

 

 

 

 

 

 

 

 

 

2017

 

 

2016

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

688,423

 

 

 

55.2

%

 

$

639,829

 

 

 

54.6

%

 

$

48,594

 

 

 

7.6

%

Non-residential roofing products

 

368,652

 

 

 

29.6

%

 

 

351,628

 

 

 

30.0

%

 

 

17,024

 

 

 

4.8

%

Complementary building products

 

189,831

 

 

 

15.2

%

 

 

179,746

 

 

 

15.4

%

 

 

10,085

 

 

 

5.6

%

 

$

1,246,906

 

 

 

100.0

%

 

$

1,171,203

 

 

 

100.0

%

 

$

75,703

 

 

 

6.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Existing Market1 Sales By Business Day2

 

 

Three Months Ended September 30,

 

 

 

 

 

 

 

 

 

 

2017

 

 

2016

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

10,927

 

 

 

55.2

%

 

$

9,997

 

 

 

54.6

%

 

$

930

 

 

 

9.3

%

Non-residential roofing products

 

5,852

 

 

 

29.6

%

 

 

5,494

 

 

 

30.0

%

 

 

358

 

 

 

6.5

%

Complementary building products

 

3,013

 

 

 

15.2

%

 

 

2,809

 

 

 

15.4

%

 

 

204

 

 

 

7.3

%

 

$

19,792

 

 

 

100.0

%

 

$

18,300

 

 

 

100.0

%

 

$

1,492

 

 

 

8.2

%

 

¹

Excludes acquired branches that have not been under ownership for at least four fiscal quarters prior to the start of the fourth quarter of fiscal year 2017.

2

There were 63 and 64 business days in each of the quarters ended September 30, 2017 and 2016, respectively.

 



BEACON ROOFING SUPPLY, INC.

Consolidated Sales by Product Line

(Dollars in thousands)

 

 

Consolidated Sales by Product Line

 

 

Year Ended September 30,

 

 

 

 

 

 

 

 

 

 

2017

 

 

2016

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

2,380,435

 

 

 

54.4

%

 

$

2,190,762

 

 

 

53.1

%

 

$

189,673

 

 

 

8.7

%

Non-residential roofing products

 

1,273,153

 

 

 

29.1

%

 

 

1,331,319

 

 

 

32.3

%

 

 

(58,166

)

 

 

(4.4

%)

Complementary building products

 

723,082

 

 

 

16.5

%

 

 

605,028

 

 

 

14.6

%

 

 

118,054

 

 

 

19.5

%

 

$

4,376,670

 

 

 

100.0

%

 

$

4,127,109

 

 

 

100.0

%

 

$

249,561

 

 

 

6.0

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated Sales by Product Line for Existing Markets1

 

 

Year Ended September 30,

 

 

 

 

 

 

 

 

 

 

2017

 

 

2016

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

2,269,105

 

 

 

55.9

%

 

$

2,140,405

 

 

 

54.1

%

 

$

128,700

 

 

 

6.0

%

Non-residential roofing products

 

1,249,001

 

 

 

30.7

%

 

 

1,307,731

 

 

 

33.0

%

 

 

(58,730

)

 

 

(4.5

%)

Complementary building products

 

545,222

 

 

 

13.4

%

 

 

512,186

 

 

 

12.9

%

 

 

33,036

 

 

 

6.5

%

 

$

4,063,328

 

 

 

100.0

%

 

$

3,960,322

 

 

 

100.0

%

 

$

103,006

 

 

 

2.6

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Existing Market1 Sales By Business Day2

 

 

Year Ended September 30,

 

 

 

 

 

 

 

 

 

 

2017

 

 

2016

 

 

Change

 

 

Net Sales

 

 

Mix %

 

 

Net Sales

 

 

Mix %

 

 

$

 

 

%

 

Residential roofing products

$

9,004

 

 

 

55.9

%

 

$

8,427

 

 

 

54.1

%

 

$

577

 

 

 

6.8

%

Non-residential roofing products

 

4,956

 

 

 

30.7

%

 

 

5,149

 

 

 

33.0

%

 

 

(193

)

 

 

(3.7

%)

Complementary building products

 

2,164

 

 

 

13.4

%

 

 

2,016

 

 

 

12.9

%

 

 

148

 

 

 

7.3

%

 

$

16,124

 

 

 

100.0

%

 

$

15,592

 

 

 

100.0

%

 

$

532

 

 

 

3.4

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

¹

Excludes acquired branches that have not been under ownership for at least four fiscal quarters prior to the start of fiscal year 2017.

2

There were 252 and 254 business days for the years ended September 30, 2017 and 2016, respectively.

 

 



BEACON ROOFING SUPPLY, INC.

Adjusted Net Income (Loss) and Adjusted EPS1

(In thousands except per share amounts)

 

 

Three Months Ended September 30,

 

 

Year Ended September 30,

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

 

Amount

 

 

Per

Share

 

 

Amount

 

 

Per

Share

 

 

Amount

 

 

Per

Share

 

 

Amount

 

 

Per

Share

 

Net income