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Beacon (BECN) Opens Branches, Expands Its Reach in Texas
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Beacon Roofing Supply, Inc. (BECN - Free Report) has opened greenfield locations in Brownsville and Georgetown, TX. This move highlighted its long-term ambition of growing and enhancing customer experience, expanding the top line and margin as well as boosting value for customers, suppliers, employees and shareholders.
Opening a location in Brownsville will help Beacon to provide service in the Rio Grande Valley region of South Texas. Meanwhile, the new Georgetown branch is in the busy Austin-Round Rock-Georgetown metro area, where customers benefit from inventory and on-time delivery via the Beacon OTC network.
With this expansion, the company’s residential and commercial contractors will gain service and expertise in these markets.
Ambition 2025: A Growth Driver
The company currently has been focusing on its Ambition 2025 targets (announced on Feb 24, 2022), which emphasize operational excellence, above-market growth trajectory and accelerated stockholder value creation. The financial targets of Ambition 2025 assume that sales will reach $9 billion (8% CAGR) and $1 billion of EBITDA (10% CAGR), which would translate into 11% EBITDA margins (up 100 basis points from 2021).
Beacon has now opened 13 greenfield branches in 2022 with these new locations, demonstrating its commitment to its Ambition 2025 goals for customer excellence and growth. BECN has been accelerating Greenfield investments, creating capacity, expanding its branch footprint and enhancing service to core customers.
Image Source: Zacks Investment Research
Shares of Beacon Roofing gained 8.2% over the past year, outperforming the industry’s 15.9% decline. The 2023 earnings estimate for this Zacks Rank #3 (Hold) company has moved upward to $6.38 per share from $6.37 over the past 30 days. This positive trend signifies bullish analysts’ sentiments, indicating robust fundamentals and the expectation of outperformance in the near term. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
However, supply-chain challenges, inflationary pressures and labor shortages are causes of concern for this largest publicly traded distributor of residential and non-residential roofing materials.
Key Picks
Some better-ranked stocks in the Zacks Retail-Wholesale sector are Tecnoglass Inc. (TGLS - Free Report) , Wingstop Inc. (WING - Free Report) and Chipotle Mexican Grill, Inc. (CMG - Free Report) .
Tecnoglass currently sports a Zacks Rank #1. Shares of the company have gained 19.7% year to date.
The Zacks Consensus Estimate for TGLS’ 2023 sales and EPS suggests growth of 11.2% and 9%, respectively, from the year-ago period’s levels.
Wingstop currently sports a Zacks Rank #1. WING has a long-term earnings growth rate of 11%. Shares of WING have decreased 10.7% year to date.
The Zacks Consensus Estimate for Wingstop’s 2023 sales and EPS suggests growth of 18% and 16.2%, respectively, from the comparable year-ago period’s levels.
Chipotle currently carries a Zacks Rank #2 (Buy). CMG has a trailing four-quarter earnings surprise of 4.1%, on average. The stock has declined 16.3% year to date.
The Zacks Consensus Estimate for Chipotle’s 2023 sales and EPS suggests growth of 13.4% and 27.9%, respectively, from the corresponding year-ago period’s levels.
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Beacon (BECN) Opens Branches, Expands Its Reach in Texas
Beacon Roofing Supply, Inc. (BECN - Free Report) has opened greenfield locations in Brownsville and Georgetown, TX. This move highlighted its long-term ambition of growing and enhancing customer experience, expanding the top line and margin as well as boosting value for customers, suppliers, employees and shareholders.
Opening a location in Brownsville will help Beacon to provide service in the Rio Grande Valley region of South Texas. Meanwhile, the new Georgetown branch is in the busy Austin-Round Rock-Georgetown metro area, where customers benefit from inventory and on-time delivery via the Beacon OTC network.
With this expansion, the company’s residential and commercial contractors will gain service and expertise in these markets.
Ambition 2025: A Growth Driver
The company currently has been focusing on its Ambition 2025 targets (announced on Feb 24, 2022), which emphasize operational excellence, above-market growth trajectory and accelerated stockholder value creation. The financial targets of Ambition 2025 assume that sales will reach $9 billion (8% CAGR) and $1 billion of EBITDA (10% CAGR), which would translate into 11% EBITDA margins (up 100 basis points from 2021).
Beacon has now opened 13 greenfield branches in 2022 with these new locations, demonstrating its commitment to its Ambition 2025 goals for customer excellence and growth. BECN has been accelerating Greenfield investments, creating capacity, expanding its branch footprint and enhancing service to core customers.
Image Source: Zacks Investment Research
Shares of Beacon Roofing gained 8.2% over the past year, outperforming the industry’s 15.9% decline. The 2023 earnings estimate for this Zacks Rank #3 (Hold) company has moved upward to $6.38 per share from $6.37 over the past 30 days. This positive trend signifies bullish analysts’ sentiments, indicating robust fundamentals and the expectation of outperformance in the near term. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
However, supply-chain challenges, inflationary pressures and labor shortages are causes of concern for this largest publicly traded distributor of residential and non-residential roofing materials.
Key Picks
Some better-ranked stocks in the Zacks Retail-Wholesale sector are Tecnoglass Inc. (TGLS - Free Report) , Wingstop Inc. (WING - Free Report) and Chipotle Mexican Grill, Inc. (CMG - Free Report) .
Tecnoglass currently sports a Zacks Rank #1. Shares of the company have gained 19.7% year to date.
The Zacks Consensus Estimate for TGLS’ 2023 sales and EPS suggests growth of 11.2% and 9%, respectively, from the year-ago period’s levels.
Wingstop currently sports a Zacks Rank #1. WING has a long-term earnings growth rate of 11%. Shares of WING have decreased 10.7% year to date.
The Zacks Consensus Estimate for Wingstop’s 2023 sales and EPS suggests growth of 18% and 16.2%, respectively, from the comparable year-ago period’s levels.
Chipotle currently carries a Zacks Rank #2 (Buy). CMG has a trailing four-quarter earnings surprise of 4.1%, on average. The stock has declined 16.3% year to date.
The Zacks Consensus Estimate for Chipotle’s 2023 sales and EPS suggests growth of 13.4% and 27.9%, respectively, from the corresponding year-ago period’s levels.