Beacon reports Q3 EPS $4.35, consensus $2.83

Reports Q3 revenue $2.77B, consensus $2.77B. “Beacon’s (BECN) third quarter results demonstrated the resilience of our business model and the team’s strong execution on our Ambition 2025 initiatives,” said Julian Francis, Beacon’s President & CEO. “We have, once again, shown that we can grow in any environment. The majority of our demand is underpinned by non-discretionary repair and reroofing, which remained solid in the third quarter. However, despite the overall level of activity lower than our expectation, disciplined margin management resulted in favorable price-cost across all lines of business. In addition, in September, we took action to lower operating expense by aligning our staffing with current market conditions. We expect these actions will result in annual savings of approximately $45 million. For the quarter, we delivered record net sales, solid net income, and the highest Adjusted EBITDA in our history.”