What drove Beacon Roofing's revenue growth in 2023?

Beacon Roofing's revenue growth in 2023 was driven by several key factors: 1. **Organic Growth**: The company's focus on organic growth initiatives, such as disciplined pricing, labor productivity, and working capital management, contributed to the revenue growth. 2. **Ambition 2025 Growth Initiatives**: Beacon's Ambition 2025 targets, which emphasize operational excellence, above-market growth, and accelerated shareholder value creation, have been a strategic driver. The company has been focusing on this initiative through acquisitions and divestitures. 3. **Acquisitions**: Beacon's strategic move to acquire Silver State Building Materials, Inc. on June 12, 2023, expanded its footprint in the South Lake Tahoe and Reno markets, which likely contributed to the revenue growth. 4. **New Locations and Greenfield Investments**: The company has been expanding its branch footprint through the completion of four acquisitions and the opening of five new locations. 5. **Strong Demand in Non-Discretionary Repair and Re-roofing Market**: The company capitalized on the strong demand from the non-discretionary repair and re-roofing market, which was a key driver of the revenue growth in the third quarter of 2023. In summary, Beacon Roofing's revenue growth in 2023 was driven by a combination of organic growth, strategic initiatives, acquisitions, and new location expansions, which together positioned the company for above-market growth and operational excellence.