Beacon Roofing Supply, Inc. (BECN) has reported a 15.66 percent rise in profit for the year ended Sep. 30, 2015. The company has earned $62.28 million, or $1.24 a share in the year, compared with $53.85 million, or $1.08 a share for the last year. Revenue during the year grew 8.09 percent to $2,515.17 million from $2,326.90 million in the previous year. Gross margin for the year expanded 99 basis points over the previous year to 23.67 percent. Total expenses were 95.35 percent of annual revenues, down from 95.75 percent for the last year. This has led to an improvement of 41 basis points in operating margin to 4.65 percent.
Operating income for the year was $117.08 million, compared with $98.86 million in the previous year.
Operating cash flow improves significantly
Beacon Roofing Supply, Inc. has generated cash of $109.34 million from operating activities during the year, up 97.02 percent or $53.84 million, when compared with the last year. The company has spent $104.71 million cash to meet investing activities during the year as against cash outgo of $37.32 million in the last year. It has incurred net capital expenditure of $19.41 million on net basis during the year, down 45.78 percent or $16.39 million from year ago.
The company has spent $12.71 million cash to carry out financing activities during the year as against cash outgo of $9.80 million in the last year period.
Cash and cash equivalents stood at $45.66 million as on Sep. 30, 2015, down 16.18 percent or $8.81 million from $54.47 million on Sep. 30, 2014.
Working capital increases marginally
Beacon Roofing Supply, Inc. has recorded an increase in the working capital over the last year. It stood at $469.38 million as at Sep. 30, 2015, up 1.58 percent or $7.28 million from $462.10 million on Sep. 30, 2014. Current ratio was at 2.18 as on Sep. 30, 2015, down from 2.37 on Sep. 30, 2014.
Cash conversion cycle (CCC) has decreased to 77 days for the year from 82 days for the last year. Days sales outstanding went up to 57 days for the year compared with 56 days for the same period last year.
Days inventory outstanding has decreased to 67 days for the year compared with 71 days for the previous year period. At the same time, days payable outstanding went up to 48 days for the year from 45 for the same period last year.
Debt comes down
Beacon Roofing Supply, Inc. has recorded a decline in total debt over the last one year. It stood at $224.30 million as on Sep. 30, 2015, down 10.84 percent or $27.27 million from $251.58 million on Sep. 30, 2014. Total debt was 14.51 percent of total assets as on Sep. 30, 2015, compared with 17.54 percent on Sep. 30, 2014. Debt to equity ratio was at 0.25 as on Sep. 30, 2015, down from 0.31 as on Sep. 30, 2014. Interest coverage ratio improved to 10.61 for the year from 9.79 for the same period last year.
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