QXO, Inc. Reports $1.91 Billion in Net Sales Following Beacon Roofing Acquisition

QXO, Inc. reported significant financial changes in its latest quarterly filing, reflecting the impact of its recent acquisition of Beacon Roofing Supply, Inc. For the three months ended June 30, 2025, QXO recorded net sales of $1.91 billion, a substantial increase from $14.5 million in the same period last year. This surge in revenue is attributed primarily to the inclusion of Beacon's sales following the completion of the acquisition on April 29, 2025. The cost of products sold also rose sharply to $1.50 billion from $8.7 million, driven by the same factors.

The company's operating expenses for the second quarter of 2025 reached $563.8 million, compared to just $10.1 million in the prior year, largely due to increased selling, general, and administrative expenses, which included $65.6 million in acquisition-related costs and $65.0 million in stock-based compensation. As a result, QXO reported a net loss of $58.5 million for the quarter, compared to a loss of $0.6 million in the previous year. The loss per share was $(0.15), a significant change from $(9.93) per share in the same quarter of 2024.

In terms of operational metrics, QXO's acquisition of Beacon has positioned it as the largest publicly traded distributor of roofing and complementary building products in North America. The company aims to leverage this position to target $50 billion in annual revenues within the next decade through both organic growth and further acquisitions. As of June 30, 2025, QXO's total assets surged to $17.11 billion, up from $5.10 billion at the end of 2024, reflecting the assets acquired from Beacon.

The company has also seen a notable increase in its employee headcount, which is expected to support its expanded operations. QXO's cash and cash equivalents decreased to $2.28 billion from $5.07 billion, primarily due to the cash outflows associated with the Beacon acquisition, which totaled approximately $10.56 billion. The company has indicated that it will continue to evaluate its liquidity needs and may pursue additional financing options as necessary.

Looking ahead, QXO's management remains optimistic about the integration of Beacon and the potential for growth in the building products distribution market. The company is focused on executing its strategic plan while managing the challenges associated with the integration process. The outlook includes expectations for improved operational efficiencies and enhanced market share as the company capitalizes on its expanded product offerings and customer base.