In what may be a signal the stimulus and incentive packages have ran their course, Beacon Roofing missed profit expectations this past quarter and blamed lower sales on an overall weak market.
Overall sales for residential roofing products fell 26%, partially offset by above average sales last year after hurricane Ike.
Is this a signal to a further, longer term weakening in the roofing market? With recent tax incentives, many people who could afford to put on a new roof at the discounts rates did. Who is left? Spring storms and summer hurricanes are one ray of hope.
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