Company: QXO-PB
Filing Date: 2025-04-16
Form Type: 424B5
Source: 0001140361-25-014221
Chunk: 49

Company: QXO, Inc.
Filing Date: 2025-04-16
Form: 424B5
Chunk 49
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 $26.0 million. |

| (6) | As Adjusted and Pro Forma As Adjusted amounts include Acquisition related transaction expenses expected to be incurred by the Company, estimated to be $62.4 million. |

S-28

#### TABLE OF CONTENTS

### MANAGEMENT’S DISCUSSION AND ANALYSIS

### OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF BEACON
The following discussion and analysis of our financial condition and results of operations covers periods prior to the consummation of the Transactions. Accordingly, the discussion and analysis of historical periods does not reflect the impact that the Transactions will have on Beacon. You should read the following discussion of our financial condition and results of operations in conjunction with the financial statements and related notes included or incorporated by reference into this prospectus supplement. This discussion contains forward-looking statements and involves numerous risks and uncertainties, including, but not limited to, those described in the “Risk Factors” section of this prospectus supplement. Actual results may differ materially from those contained in any forward-looking statements. Unless otherwise indicated or the context otherwise requires, references in this management’s discussion and analysis of financial condition and results of operations to “we,” “our” and “us” refer to Beacon and its consolidated subsidiaries before giving effect to the Acquisition.

### Overview
Beacon is the leading publicly-traded specialty wholesale distributor of roofing and complementary building products, including waterproofing products, in North America. Beacon has served the building industry for over 95 years and as of December 31, 2024, Beacon operated 586 branches throughout all 50 states in the U.S. and seven provinces in Canada. Beacon offers one of the most extensive ranges of high-quality professional grade exterior products comprising over 135,000 SKUs, and Beacon serves approximately 110,000 residential and non-residential customers who trust Beacon to help them save time, improve efficiency, and enhance productivity.

Beacon is strategically focused on two core markets, residential and non-residential roofing. Beacon also distributes complementary building products like siding and waterproofing that are often utilized by the roofing and other specialty contractors it serves. As a distributor, Beacon’s national scale, networked model, and specialized capabilities are competitive advantages, providing strong value for both customers and suppliers. The Company intends to grow faster than the market by enhancing its customers’ experience, capturing value from its comprehensive go-to-market strategy, and expanding its footprint organically and through acquisitions while also driving margin-enhancing initiatives.

Beacon’s differentiated service model is designed to solve