Beacon Roofing in $250M Accelerated Share Repurchase Deal


By Stephen Nakrosis

Building products company Beacon Roofing Supply Inc. on Monday said it entered an accelerated share repurchase agreement with Citibank N.A to buy back $250 million of Beacon common stock.

Beacon said the latest deal is in addition to a $125 million accelerated stock repurchase that had been announced in March.

Julian Francis, Beacon’s president and chief executive, said, “We now expect to complete at least three-quarters of the previously announced $500 million share repurchase authorization in 2022.”

The company said the $125 million repurchase is expected to be settled no later than the end of June, while the $250 million deal is expected to be completed in the fourth quarter of this year.

Beacon has a market cap of $4.24 billion, 68.74 million shares outstanding and a public float of 53.63 million shares.

Write to Stephen Nakrosis at

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