Beacon Roofing Supply(US:BECN)2024-08-02 07:28Financial Performance - Q2 2024 net sales reached a record of $2674.6 million, an increase of 6.8% year-over-year[9, 15] - Adjusted EBITDA for Q2 2024 was $279 million[10] - Gross margin increased by approximately 20 bps year-over-year from 25.4% to 25.6%[10, 17] Sales and Growth - Residential sales increased by 2.4% year-over-year in Q2 2024[16] - Non-residential sales increased by 11.1% year-over-year in Q2 2024[16] - Complementary sales increased by 12.3% year-over-year in Q2 2024[16] - Acquisitions contributed approximately 4% to the top-line growth[16] - Digital sales grew by 22% year-over-year in Q2, representing approximately 26% of residential sales[12] Capital Allocation and Balance Sheet - An additional $225 million accelerated share repurchase program was announced[11, 13] - Over $1.5 billion has been returned to shareholders since the launch of the Ambition 2025 plan[13] - Net debt leverage was 3.2x as of June 30[19] Outlook - Full year 2024 net sales are expected to grow by 6-8% year-over-year[22] - Adjusted EBITDA for full year 2024 is projected to be between $930 million and $970 million[22]