Company: QXO-PB
Filing Date: 2025-04-18
Form Type: 424B5
Source: 0001140361-25-014566
Chunk: 57

Company: QXO, Inc.
Filing Date: 2025-04-18
Form: 424B5
Chunk 57
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31.0 |     |     28.0 |
| Acquisition costs(1)                |     |                    12.0 |     |      6.9 |
| Restructuring costs(1)              |     |                    17.0 |     |      0.5 |
| Adjusted EBITDA                     |     |                  $930.2 |     |   $929.6 |
| Net sales                           |     |                $9,763.2 |     | $9,119.8 |
| Net income (loss) as % of net sales |     |                    3.7% |     |     4.8% |
| Adjusted EBITDA as % of net sales   |     |                    9.5% |     |    10.2% |

| (1) | Amounts represent adjusting items included in SG&A expense and other (income) expense; remaining adjusting item balances are embedded within the other line item balances reported in this table. |

Seasonality and Quarterly Fluctuations The demand for exterior building materials is closely correlated to both seasonal changes and unpredictable weather patterns, therefore demand fluctuations are expected. In general, the net sales and net income are highest in quarters ending June 30, September 30, and December 31, which represent the peak months of construction and re-roofing. Conversely, Beacon has historically experienced low net income levels or net losses in quarters ending March 31, when winter construction cycles and cold weather patterns have an adverse impact on its customers’ ability to conduct their business. The balance sheet fluctuates throughout the year, driven by similar seasonal trends. Beacon generally experiences an increase in inventory and peak cash usage in the quarters ending March 31 and June 30, driven primarily by increased purchasing that is necessary to meet the rise in demand for its products during the warmer months. Accounts receivable, accounts payable, and cash collections are generally at their highest during the quarters ending June 30 and September 30, when sales are typically at their peak. At times, Beacon experiences fluctuations in its financial performance that are driven by factors outside of its control, including the impact that severe weather events and unusual weather patterns may have on the timing and magnitude of demand and material availability. Liquidity and Capital Resources The following table summarizes the cash flows for the periods indicated (in millions):

|                                                              |     | Year Ended December 31, 
                    2024 |     |   2023 |
|:-------------------------------------------------------------|