1420 ET - Hurricane Milton's landfall could be a near-term headwind for some building products-focused companies while others could see demand rise in 2025, according to Philip Ng, analyst at Jefferies in a research note. Ng says the impending hurricane could particularly be a 4Q headwind for Vulcan Materials, Martin Marietta Materials and Summit Materials due to downtime, lost shipping days and customer closures, among other factors. Those that could see a potential boost in 2025 following an initial disruption include Beacon Roofing Supply, Owens Corning, Eagle Materials and Builders FirstSource for roofing demand, repair demand from flooding and a possible rise in lumber/oriented strand board prices related to the storm, adds Ng. "Sizing up the magnitude is tough... and the uplift in demand will depend on if it's wind and/or flood related," says the analyst. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
October 09, 2024 14:20 ET (18:20 GMT)
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