Roofing was big business for replacement contractors in 2017. In fact, more than half of all replacement contractors comprising the 2018 Remodeling 550 list — 81 out of 150 — indicated that roofing work fueled some of their business last year, Remodeling magazine revealed today.
On average, roofing work comprised 31.1% or $1.21 billion of the overall revenue Remodeling 550 replacement contractors took in last year. That was an increase from 2017 figures when roofing work averaged 27% of overall revenues. The median percentage — meaning half the numbers were above and half below — of roofing from this year’s list was 25%, or $97 million.
On the whole, replacement contractors comprising the 2018 Remodeling 550 reported a blistering 2017 sales growth of 41% over 2016. Collectively, replacement contractors took in $3.88 billion last year. That figure far surpasses any other sales in the past 10 years.
The Remodeling 550 membership varies a bit each year as companies enter and exit the list for a variety of reasons, such as if they were bought or began to be publicly traded.
Remodeling magazine will be revealing more data in future Remodeling 550 previews. The list and full report will go online May 23.