Beacon Roofing Supply Inc. ended the year with total sales up 8%. It also committed to building out its digital capabilities in the year ahead. The 90-year-old distribution company has 517 branches.
Currently, Beacon is already one of the largest roofing material distributors and related suppliers. Two years ago it announced plans to make 25% of residential and commercial sales digital by the end of 2025.
So far, the company is just short of halfway toward meeting its goal, says CEO Julian Francis. “Our value-added integrations are driving performance and in the fourth quarter we grew digital sales nearly 28% year-over-year,” he told analysts on a recent Q4 earnings call, based on a transcript from SeekingAlpha.com. “Digital sales to our residential customers were a highlight as we achieved adoption of nearly 22%.”
Beacon Roofing’s 2023 results
For the year ended Dec. 31, Beacon reported sales of $9.119 billion, an increase of 8.2% from sales of $8.429 billion in 2022. Net income was $435.0 million, compared with $458.4 million in the prior year. “We delivered record sales in our national accounts, private label, and digital initiatives, which deliver both enhanced growth and margin,” Francis told analysts.
Beacon’s ecommerce platform, Beacon Pro +, features automated order workflows, Beacon Track delivery notifications, and strategic integration with project management software, JobNimbus.
The ecommerce platform’s automated order workflow enables customers to create a customized process for ordering and approvals. Meanwhile, JobNimbus provides customers with access to live pricing and the ability to send material orders directly to their Beacon Roofing Supply location from the JobNimbus platform.
In 2021, Beacon Pro + also was updated with Estimating Edge, a platform that lets contractors and builders measure construction materials and labor, make estimates and perform project management.
“We have plans to build on our digital leadership by continuing to invest in this area and to differentiate ourselves and build upon our competitive advantage in the marketplace,” Francis told analysts.
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