Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Top 10 Roofing Companies in the United States

In this piece, we will take a look at the top ten roofing companies in the United States. For more companies, head on over to the Top 5 Roofing Companies in the United States.

Owning a home is a central part of the American dream – or at least when home prices hadn’t skyrocketed and priced most people out. However, what most people find out after buying a home is that home ownership is a life-long process that requires constant vigilance and repairs to ensure that the property remains in a living condition. This of course leads to the creation of an entire industry that is made of up both public and private firms related to home repair products and services.

In terms of demand for houses and other properties, the sector has faced several shocks over the past twelve months, due to the high costs of borrowing. These have resulted from the Federal Reserve’s rapid interest rate hikes to combat inflation and the high rates have led to high costs of borrowing and put people off from buying home due to high mortgage rates. At the same time, it has also led to a difficult business environment for construction companies, as their working capital costs go up, they find it difficult to raise funds to invest in projects, and cash flow dries up due to a slowing market.

Starting off by analyzing the housing market by cold, hard stats, the real estate brokerage firm Zillow reports that the average U.S. home is worth $334,269 as of April 2023 – marking a 5% annual growth and broadly keeping up with the rate of inflation. This marks quite a stunning growth in just nine years, with data from Zillow showing that the average price was $173,938 in December 2014, marking a near doubling during the time frame. Additionally, the bulk of this price growth has come after the peak of the coronavirus pandemic, as the data shows that while the average home price stood at $245,472 in August 2020 – for a ‘mere’ ~$81,000 growth in six years, since then the prices have jumped by almost a hundred thousand dollars to sit at the current levels. Remember how we mentioned people being priced out of the home market above? Zillow adds that most of the sales in the market took place under the listed market price and that prices are expected to grow further by 1.9% over the next twelve months.

Research from Redfin shows that the home price growth is not even across different American cities. It outlines that the fastest growing home prices were in Savannah, Georgia where prices have grown by a whopping 21.2% in the past twelve months. Other steep price jumps were seen in Fayetteville, North Carolina, Tallahassee, Florida, and Myrtle Beach, South Carolina. Looking at the housing supply, the market continues to be tight as 1.4 million homes were available for sale in March 2023 for a 7.1% growth but the average months of supply was at two months low and remained flat annually. Additionally, the bulk of this growth is from used homes going up for sale, as Redfin outlines that 529,145 newly built homes were put up for sale in March 2023 which marked a 22.5% annual drop. Additionally, looking at the supply of homes for the past five years, the 1.4 million houses are still significantly lower than historic highs, as the market had peaked in July 2019 when almost 3.5 million homes were up for sale. Finally, most homes are being sold below their list price, indicating that the market simply isn’t ready to pay for high prices. Compare this to May 2022 when almost 60% of the houses had sold above the list price.

Now that we’ve analyzed the housing industry, let’s take a look at how the home improvement market is performing and is expected to perform. On this front, a research report from Blue Weave Consulting provides some details. It reveals that the global home improvement market was worth $337 billion in 2021 and the market will grow at a compounded annual growth rate (CAGR) of 6.40% to sit at $515 billion by the end of 2028. The research firm shares that Europe is the largest market for home improvement as its citizens have higher purchasing powers lending them higher disposable incomes. Another report from The Business Research Company analyzes the home improvement services market to outline that this particular market was worth $324 billion in 2022 and will grow through a CAGR that is faster than 5% to be worth $344 billion by the end of 2023. It adds that from then until 2027, the market will maintain this growth rate and be worth $424 billion.

Looking at the current state of the real estate improvement market, executives of FirstService Corporation (NASDAQ:FSV) shared some insights during the firm’s Q4 2022 earnings call where they shared:

Suffice to say, we’re off to a strong start in restoration and we will provide more visibility at each quarter end. Moving that to our home improvement brands including California Closets, CertaPro Painters, Floor Coverings International and period of post home inspection. As a group, these brands were up about 10% against a strong Q4 from 2021 that was up 30% over the year prior. December weather impacted our ability to complete as much work as we expected, and our revenues reflected as much. We fell a bit short of our internal estimates. All that work now flows into January, and we will make it up. Looking forward, we expect continued growth in 2023, at this point, we estimate growth at a high single digit level against a very strong 2022.

The macro environment is mixed. Home sales are down significantly, while home prices and home equity levels are holding. In general, we’re facing modest headwinds in home improvement, but our teams feel strongly, we will battle through and continue to grow. The markets are very large. The work is there and we have the teams and brand strength to secure it. During the quarter, we’ve further expanded our company owned operations at California Closets with the acquisition of our franchise territory in Portland, Oregon, adding a market with significant future growth potential. We now own 21 of the 80 California Closet locations, which account for about 50% of system-wide sales. Now under Century Fire, which had a very impressive fourth quarter, up almost 30% from the prior year with over 20% organic growth.

With these details in mind, let’s take a look at some of the biggest roofing companies in America. Out of these, some of the largest players are CentiMark Corporation, Tecta America, and Flynn Group of Companies.

Our Methodology

To compile our list of the biggest roofing companies in the U.S., we first used Roofing Contractor Magazine’s list of top roofing companies in America. We first ranked all the roofing companies based on revenue and picked the top ten for this list.

Top 10 Roofing Companies in the United States

10. Greenwood Industries, Inc.

Latest Twelve Month Revenue Estimate: $166 million

Greenwood Industries, Inc. is one of the largest roofing companies in America as it has offices in Massachusetts, Connecticut, New Hampshire, New York, and Rhode Island. The firm is headquartered in Worcester, Massachusetts. The company was set up in 1992 and it has more than 750 employees. The firm provides a variety of services, such as re-roofing through which it replaces the roofs of a variety of buildings such as manufacturing plants and hospitals, including those that have to run for 24 hours a day, seven days a week. Greenwood Industries, Inc. also provides roof restoration services in a short time period, and it provides a variety of roof systems such as metal roofs, solar roofs, green roofs, and commercial roofs. Along with Tecta America, CentiMark Corporation, and Flynn Group of Companies, it is one of the biggest roofing companies in the U.S.

9. CMR Construction & Roofing

Latest Twelve Month Revenue Estimate: $176.9 million

CMR Construction & Roofing is another large roofing company in the U.S. The firm claims to offer rapid response services through which it can mobilize resources as fast as within 24 hours. It has installed 133 million square feet of roof over two decades and in 32 states. CMR Construction & Roofing offers both residential and commercial services, and its commercial division offers several services such as asphalt roofs, metal roofs, tiling, and coating.

8. Feazel Roofing

Latest Twelve Month Revenue Estimate: $185 million

Feazel Roofing is another American roofing company and one that has been operating for 25 years. It has operations in Cincinnati, Cleveland, Columbus, Dayton, Indianapolis, and Raleigh. The firm offers roof repair, roof replacement, and roof installation. Additionally, Feazel Roofing’s commercial roofing services include inspecting, repairing, and replacing roofs for multi family homes.

7. Mr. Roof/Able Roofing

Latest Twelve Month Revenue Estimate: $197 million

Mr. Roof/Able Roofing are two companies that are part of the Crane Renovation group. Out of these, Mr. Roof claims to be the biggest roofing contractor in America. The firm has been in business for six decades and offers replacement and repairs.

6. Corey Construction

Latest Twelve Month Revenue Estimate: $202 million

Corey Construction is a relatively young company that was set up in 1999. The firm has operations in Atlanta, Dallas, Fort Worth, Austin, Nashville, and San Antonio.

Click to continue reading and see Top 5 Roofing Companies in the United States.

Suggested Articles:

Disclosure: None. Top 10 Roofing Companies in the United States is originally published on Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…