Beacon announced results today for the second quarter ended June 30, 2023, and the company beat Wall Street’s estimate slightly, with earnings coming in at $2.5 billion; analysts had predicted $2.49 billion.
In a news release sent after trading, Beacon announced its net sales increased 6.2% compared to the prior year; $2.5 billion is a new concern record for quarterly net sales. The company said its second-quarter sales increase was driven by higher prices and acquired and newly opened branches over the last four quarters. Weighted-average selling price increased by approximately 2-3%, while estimated organic volumes decreased by about 0-1%.