Stock #1 – Beacon Roofing Supply (BECN)
As one of North America’s largest roofing materials distributors, Beacon Roofing Supply (BECN) operates 175 branches throughout the U.S. and Canada. Besides roofing products, the company also manufactures related materials, such as siding, windows and waterproofing systems — products that are sure to be in high demand after the current round of winter weather.
In its fiscal first-quarter earnings report released in February, BECN did show signs of tough times with a 20% decline in sales year-over-year. However, residential roofing sales were up against strong comparisons to the previous year where Hurricane Ike literally drove sales through the roof in Texas. This shows how weather patterns can affect Beacon Roofing’s results, so the stock should cash in after the storms of February.
- Poll of the Day