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Beacon Roofing (BECN)-Estimating Edge Tie Up, Boost E-commerce
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Beacon Roofing Supply, Inc. (BECN - Free Report) recently announced a tie-up with Estimating Edge, a provider of detailed construction measurements of materials and labor as well as estimating and project management software.
Moreover, this partnership will provide unified integration of The EDGE estimating tool as well as the EDGE On Site mobile production-tracking app in Beacon’s e-commerce platform. EDGE On Site will help to track production, hourly employees and produce time cards, on a real-time basis.
With respect to this, Beacon Roofing's Vice President of Marketing, Jamie Samide said, “The integration of the EDGE solutions with Beacon Roofing PRO+ will help contractors prepare estimates and orders with greater accuracy as well as increased efficiency and consistency.”
Focus on E-commerce Bodes Well
Beacon Roofing is focused on investing in e-commerce channels to enhance productivity consistently. The company’s digital platform achieved 10% of the company’s sales during fiscal 2020. It is on track with the long-term target of generating $1-billion annual digital sales. The company continues to enhance the platform and add capabilities based on customer feedback. Given the lower cost to service, digital sales are generally incremental to gross margin.
New OTC (On-Time and Complete) Delivery Network and a newly-designed website are adding up to the positives. With this strategic action, its customers are likely to benefit from the industry’s best e-commerce platform. Markedly, the OTC Network is developed to support in-store and online customers with enhanced product availability, delivery tracking and notification. As of Dec 31, 2020, the company operated 58 distinct markets and more than 250 exteriors branches participating in OTC.
Beacon Roofing’s shares have surged 83% in the past six months compared with the industry’s 10.8% rally. Also, earnings estimates for fiscal 2021 have moved up over the past 60 days, depicting analysts' optimism over bottom-line growth potential. The company’s solid residential backdrop, cost-saving efforts and productivity initiatives are also driving growth. On a further encouraging note, the company will gain from higher contribution from the Allied Building Products acquisition, dynamic strategies, and focus on productivity enhancement & digital platform.
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>
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Beacon Roofing (BECN)-Estimating Edge Tie Up, Boost E-commerce
Beacon Roofing Supply, Inc. (BECN - Free Report) recently announced a tie-up with Estimating Edge, a provider of detailed construction measurements of materials and labor as well as estimating and project management software.
Moreover, this partnership will provide unified integration of The EDGE estimating tool as well as the EDGE On Site mobile production-tracking app in Beacon’s e-commerce platform. EDGE On Site will help to track production, hourly employees and produce time cards, on a real-time basis.
With respect to this, Beacon Roofing's Vice President of Marketing, Jamie Samide said, “The integration of the EDGE solutions with Beacon Roofing PRO+ will help contractors prepare estimates and orders with greater accuracy as well as increased efficiency and consistency.”
Focus on E-commerce Bodes Well
Beacon Roofing is focused on investing in e-commerce channels to enhance productivity consistently. The company’s digital platform achieved 10% of the company’s sales during fiscal 2020. It is on track with the long-term target of generating $1-billion annual digital sales. The company continues to enhance the platform and add capabilities based on customer feedback. Given the lower cost to service, digital sales are generally incremental to gross margin.
New OTC (On-Time and Complete) Delivery Network and a newly-designed website are adding up to the positives. With this strategic action, its customers are likely to benefit from the industry’s best e-commerce platform. Markedly, the OTC Network is developed to support in-store and online customers with enhanced product availability, delivery tracking and notification. As of Dec 31, 2020, the company operated 58 distinct markets and more than 250 exteriors branches participating in OTC.
Beacon Roofing’s shares have surged 83% in the past six months compared with the industry’s 10.8% rally. Also, earnings estimates for fiscal 2021 have moved up over the past 60 days, depicting analysts' optimism over bottom-line growth potential. The company’s solid residential backdrop, cost-saving efforts and productivity initiatives are also driving growth. On a further encouraging note, the company will gain from higher contribution from the Allied Building Products acquisition, dynamic strategies, and focus on productivity enhancement & digital platform.
Zacks Rank
Beacon Roofing — which shares space with Builders FirstSource, Inc. (BLDR - Free Report) , Fastenal Company (FAST - Free Report) and Lowe's Companies, Inc. (LOW - Free Report) in the Zacks Building Products - Retail industry — currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>