2024-02-12 06:16:44 ET
Summary
- Beacon Roofing Supply has made investments in greenfields and gained market share through M&As, contributing to its FY2023 topline.
- The decline in new residential construction and a seasonal decline may hinder BECN's growth prospects in the near term.
- BECN plans to strengthen its service model, increase digital sales, and pursue inorganic growth through M&As as part of its long-term strategy.
- BECN stock is reasonably valued versus its peers.
BECN’s Business Prospect
Beacon Roofing Supply ( BECN ) distributes building products, including roofing materials, through 500 branches in the US and Canada. It offers its own private label brand, TRI-BUILT, and has a digital account management suite, Beacon PRO+. Pursuing its long-term plans (Ambition 2025), it has made Investments in greenfields and gained market share through M&As. The acquisition of new branches has contributed significantly to its FY2023 topline. Also, the digital integrations with solutions providers helped improve operating margins....
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Beacon Roofing Supply Goes Through Necessary Changes