Industrial Distributors Stocks Q3 Results: Benchmarking Beacon Roofing Supply (NASDAQ:BECN)

As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the industrial distributors industry, including Beacon Roofing Supply (NASDAQ:BECN) and its peers.

Supply chain and inventory management are themes that grew in focus after COVID wreaked havoc on the global movement of raw materials and components. Distributors that boast a reliable selection of products–everything from hardhats and fasteners for jet engines to ceiling systems–and quickly deliver goods to customers can benefit from this theme. While e-commerce hasn’t disrupted industrial distribution as much as consumer retail, it is still a real threat, forcing investment in omnichannel capabilities to better interact with customers. Additionally, distributors are at the whim of economic cycles that impact the capital spending and construction projects that can juice demand.

The 29 industrial distributors stocks we track reported a slower Q3. As a group, revenues beat analysts’ consensus estimates by 0.6%.

While some industrial distributors stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.3% since the latest earnings results.

Beacon Roofing Supply (NASDAQ:BECN)

Beacon Roofing Supply reported revenues of $2.77 billion, up 7.3% year on year. This print was in line with analysts’ expectations, but overall, it was a softer quarter for the company with a miss of analysts’ organic revenue and adjusted operating income estimates.

“Beacon’s third quarter results demonstrated the resilience of our business model and the team’s strong execution on our Ambition 2025 initiatives,” said Julian Francis, Beacon’s President & CEO.

Interestingly, the stock is up 8.5% since reporting and currently trades at $103.49.

Is now the time to buy Beacon Roofing Supply? Find out by reading the original article on StockStory, it’s free.

Best Q3: DXP (NASDAQ:DXPE)

DXP reported revenues of $472.9 million, up 12.8% year on year, outperforming analysts’ expectations by 6.8%. The business had an incredible quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 62.3% since reporting. It currently trades at $82.62.

Weakest Q3: Alta (NYSE:ALTG)

Alta reported revenues of $448.8 million, down 3.7% year on year, falling short of analysts’ expectations by 6.5%. It was a disappointing quarter as it posted and a significant miss of analysts’ adjusted operating income estimates.

Alta delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 18.9% since the results and currently trades at $6.51.

DistributionNOW (NYSE:DNOW)

DistributionNOW reported revenues of $606 million, up 3.1% year on year. This result came in 1.5% below analysts' expectations. Overall, it was a slower quarter as it also produced a miss of analysts’ EBITDA and EPS estimates.

The stock is down 5.4% since reporting and currently trades at $13.01.

GATX (NYSE:GATX)

GATX reported revenues of $405.4 million, up 12.6% year on year. This number topped analysts’ expectations by 3.5%. Overall, it was a stunning quarter as it also put up a solid beat of analysts’ EPS estimates and full-year EPS guidance beating analysts’ expectations.

The stock is up 18.3% since reporting and currently trades at $154.96.

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This content was originally published on Stock Story