Beacon Roofing Supply Inc. ended the yr with total sales up 8%. It also committed to constructing out its digital capabilities within the yr ahead. The 90-year-old distribution company has 517 branches.
Currently, Beacon is already one in every of the most important roofing material distributors and related suppliers. Two years ago it announced plans to make 25% of residential and business sales digital by the top of 2025.
To date, the corporate is just wanting halfway toward meeting its goal, says CEO Julian Francis. “Our worth-added integrations are driving performance and within 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 yr ended Dec. 31, Beacon reported sales of $9.119 billion, a rise of 8.2% from sales of $8.429 billion in 2022. Net income was $435.0 million, compared with $458.4 million within the prior yr. “We delivered record sales in our national accounts, private label, and digital initiatives, which deliver each 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 flexibility to send material orders on 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 now have plans to construct on our digital leadership by continuing to take a position on this area and to distinguish ourselves and construct upon our competitive advantage within the marketplace,” Francis told analysts.
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