Beacon Roofing Supply Cracks Fortune 500 for First Time Ever
The annual list is compiled by Fortune magazine and ranks 500 of the largest U.S. corporations by total revenue. The new list reflects figures for the year ending Dec. 31, 2018.
Beacon finished at no. 464 on revenue of about $6.4 billion —a 46.6 percent increase over numbers from the previous year, where the company was at no. 569.
Beacon recorded profits of $98.6 million for the year, down 2.2 percent from the previous comparable time period.
According to Fortune, “Companies are ranked by total revenues for their respective fiscal years. Included in the survey are companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency. This includes private companies and cooperatives that file a 10-K or a comparable financial statement with a government agency, and mutual insurance companies that file with state regulators.
“Excluded are private companies not filing with a government agency; companies incorporated outside the U.S.; and U.S. companies consolidated by other companies, domestic or foreign, that file with a government agency. Also excluded are companies that failed to report full financial statements for at least three-quarters of the current fiscal year. Percent change calculations for revenue, net income, and earnings per share are based on data as originally reported. They are not restated for mergers, acquisitions, or accounting changes.”
According to its website, Beacon Sales Co. was established in 1928 in Charlestown, Mass., as one of the first distributors of commercial roofing materials in New England.
In August 2017, the company announced it would acquire Allied Building Products Corp. for about $2.6 billion.
In February, Beacon announced current President and CEO Paul Isabella plans to leave the company “later this fiscal year.”