Company: QXO-PB
Filing Date: 2025-04-18
Form Type: 424B5
Source: 0001140361-25-014598
Chunk: 55

Company: QXO, Inc.
Filing Date: 2025-04-18
Form: 424B5
Chunk 55
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 to $151.1 million in 2023. The comparative decrease in income tax provision was primarily due to lower pre-tax income. The effective tax rate was 25.5% in 2024, compared to 25.8% in 2023. The decrease in the effective tax rate was primarily a result of comparable year-over-year excess tax benefits from stock-based compensation relative to a lower 2024 pre-tax income base. Beacon also experienced a decrease in non-deductible compensation under Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), which further contributed to the decrease in its effective tax rate. Net Income (Loss)/Net Income (Loss) Per Common Share Beacon calculates basic net income (loss) per common share by dividing net income (loss), less dividends on Preferred Stock and adjustments for participating securities for periods in which they are outstanding and Repurchase Premium in the period in which such Preferred Stock was redeemed, by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per common share is calculated based upon the weighted-average common shares plus the effect of all potentially dilutive common share equivalents, except when the effect would be anti-dilutive. For periods in which Preferred Stock is outstanding, diluted net income (loss) per common share is calculated by utilizing the most dilutive result after applying and comparing the two-class method and if-converted method. The following table presents all the components utilized to calculate basic and diluted net income (loss) per common share (in millions, except per share amounts; certain amounts may not recalculate due to rounding):

|                                                                           |     | Year Ended December 31, 
                    2024 |     |    2023 |
|:--------------------------------------------------------------------------|:----|------------------------:|:----|--------:|
| Numerator:                                                                |     |                         |     |         |
| Net income (loss)                                                         |     |                  $361.7 |     |  $435.0 |
| Dividends on Preferred Stock                                              |     |                       — |     |   -13.9 |
| Undistributed income allocated to participating securities                |     |                       — |     |   -34.1 |
| Repurchase Premium                                                        |     |                       — |     |  -414.6 |
| Net income (loss) attributable to common stockholders - Basic and Diluted |     |                  $361.7 |     | $(27.6) |
|