Home Builder Developer - Interior Renovation and Design

Roofing Services - Joe Cheeseman Roofing Specialist

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Roofing Services - Joe Cheeseman Roofing Specialist - Video

Installing Bellaforté Shake Roofing
Extreme How-To covers the basics of installing Bellaforte Shake synthetic roofing from DaVinci Roofscapes. For hundreds more home-improvement stories, visit ...

By: lat3llc

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Installing Bellaforté Shake Roofing - Video

Roofing Company In Longview, TX
Call 888-418-3415 or visit http://roofingcompanylongview.com - Roofing Company In Longview, TX.

By: Brody Cellucci

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Roofing Company In Longview, TX - Video

On Sep 19, we downgraded our recommendation on Beacon Roofing Supply, Inc. ( BECN ), one of the three largest roofing material distributors in the U.S. and Canada, to Underperform following weak third-quarter fiscal 2013 (ended Jun 30) results and its downwardly revised earnings guidance.

Why the Downgrade?

On Aug 9, Beacon Roofing reported adjusted earnings of 55 cents per share for the third quarter, down 11.3% year over year, impacted by tough weather conditions and increase in product cost. The results also missed the Zacks Consensus Estimate of 71 cents. Net sales rose 12% year over year to $627.2 million, but missed the Zacks Consensus Estimate of $663 million.

The inability of Beacon Roofing to successfully pass on higher raw material costs to customers will also have a negative impact on its results. Since Dec 2012, two major price increases on shingles have been announced by manufacturers. Some of these increases were passed along with the product cost. In the third quarter, gross margin contracted 150 basis points (bps) year over year to 23.5%, largely owing to pricing pressure.

For 2013, Beacon Roofing lowered its earnings per share forecast to $1.50-$1.60 from $1.75-$1.85 due to subdued demand and increase in competition. Additionally, higher construction costs, labor shortage, lack of funds for real estate projects, and adverse effects of sequestration are likely to remain headwinds for the non-residential construction sector and may affect the company.

Following the last earnings release, the Zacks Consensus Estimate for 2013 and 2014 have gone down 13.9% and 8.6%, respectively, to $1.55 and $1.92 per share, respectively. With earnings estimates moving down, Beacon Roofing retains a Zacks Rank #5 (Strong Sell).

Other Stocks to Consider

Among the other stocks in the same industry with favorable Zacks rank, Lumber Liquidators Holdings, Inc. ( LL ), Builders FirstSource, Inc. ( BLDR ) and The Home Depot, Inc. ( HD ) are worth a look. While Lumber Liquidators holds a Zacks Rank #1 (Strong Buy), both Builders FirstSource and The Home Depot carry a Zacks Rank #2 (Buy).

BEACON ROOFING (BECN): Free Stock Analysis Report

BUILDERS FIRSTS (BLDR): Free Stock Analysis Report

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Beacon Roofing to Underperform - Analyst Blog

BY JON SEIDEL Staff Reporter September 23, 2013 9:12PM

A poster for Cicero Town President Larry Dominick is displayed in the window of Lembke & Sons Hardware in Berwyn on Feb. 1, 2013. | Sun-Times Media files

storyidforme: 55457187 tmspicid: 16371738 fileheaderid: 7355217

Updated: September 23, 2013 9:37PM

A west suburban school district has voted to hire a Chicago auditor to look into an elementary school roofing project that netted a politically connected hardware store and its owner big bucks.

The Lyons Elementary District 103 school board voted 6-1 to hire Gould & Pakter Associates LLC to review that and an expansion of the districts middle school.

The school board capped the auditors bill at $60,000, asked for bi-weekly reports and said the firm must come back to authorize additional expenses.

A school board member concerned about the total cost of the audit introduced the spending cap.

Each 60 [thousand dollars] is one teacher, said board member Joanne Schaeffer.

People in the audience many of whom were parents seeking air conditioners for their childrens schools grumbled about the cost as well.

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Lyons hires auditor to review school roofing project tied to hardware store

On Sep 19, we downgraded our recommendation on Beacon Roofing Supply, Inc. (BECN), one of the three largest roofing material distributors in the U.S. and Canada, to Underperform following weak third-quarter fiscal 2013 (ended Jun 30) results and its downwardly revised earnings guidance.

Why the Downgrade?

On Aug 9, Beacon Roofing reported adjusted earnings of 55 cents per share for the third quarter, down 11.3% year over year, impacted by tough weather conditions and increase in product cost. The results also missed the Zacks Consensus Estimate of 71 cents. Net sales rose 12% year over year to $627.2 million, but missed the Zacks Consensus Estimate of $663 million.

The inability of Beacon Roofing to successfully pass on higher raw material costs to customers will also have a negative impact on its results. Since Dec 2012, two major price increases on shingles have been announced by manufacturers. Some of these increases were passed along with the product cost. In the third quarter, gross margin contracted 150 basis points (bps) year over year to 23.5%, largely owing to pricing pressure.

For 2013, Beacon Roofing lowered its earnings per share forecast to $1.50$1.60 from $1.75$1.85 due to subdued demand and increase in competition. Additionally, higher construction costs, labor shortage, lack of funds for real estate projects, and adverse effects of sequestration are likely to remain headwinds for the non-residential construction sector and may affect the company.

Following the last earnings release, the Zacks Consensus Estimate for 2013 and 2014 have gone down 13.9% and 8.6%, respectively, to $1.55 and $1.92 per share, respectively. With earnings estimates moving down, Beacon Roofing retains a Zacks Rank #5 (Strong Sell).

Other Stocks to Consider

Among the other stocks in the same industry with favorable Zacks rank, Lumber Liquidators Holdings, Inc. (LL), Builders FirstSource, Inc. (BLDR) and The Home Depot, Inc. (HD) are worth a look. While Lumber Liquidators holds a Zacks Rank #1 (Strong Buy), both Builders FirstSource and The Home Depot carry a Zacks Rank #2 (Buy).

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Beacon Roofing to Underperform

Kitchen Remodeling Trends in Newburyport
The latest in kitchen remodeling trends are depicted in this kitchen remodeling project by Greene Construction of Newburyport MA. http://www.RemodelingNewburyport.c...

By: Greg Greene

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Kitchen Remodeling Trends in Newburyport - Video

Innovative #39;s $25,000 Home Improvement Sweepstakes
Enter to Win Our $25000 Sweepstakes! $10000 in cash and $15000 in home improvement projects. Enter here... http://InnovativeSweeps.com Innovative Home Concepts is Chicagoland #39;s Premiere,...

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Innovative's $25,000 Home Improvement Sweepstakes - Video

User Testimonial - A+ Window Cleaning
GlassRenu User Testimonial - A+ Window Cleaning - Reno, NV.

By: GlassRenu

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User Testimonial - A+ Window Cleaning - Video

tree removal cost Call For Free Quotes 07 3394 8218 tree removal cost
tree removal cost Best Value tree removal cost http://chipmunkstreeservices.com.au 767 Mt Gravatt-Capalaba Rd Wishart QLD 4122 Ph 07 3394 8218 Best Price Tre...

By: Justin Storey

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tree removal cost Call For Free Quotes 07 3394 8218 tree removal cost - Video