# EDGAR Filing Document

**Accession Number:** 0001124941
**File Stem:** 0001124941-23-000009
**Filing Date:** 2023-2
**Character Count:** 67661
**Document Hash:** 79d9a30b17b5ac850986e0969d253b23
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001124941-23-000009.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001124941-23-000009

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 35

**CONFORMED PERIOD OF REPORT**: 20230223

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BEACON ROOFING SUPPLY INC
- **CENTRAL INDEX KEY:** 0001124941
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030]
- **IRS NUMBER:** 364173371
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-50924
- **FILM NUMBER:** 23660445

**BUSINESS ADDRESS:**
- **STREET 1:** 505 HUNTMAR PARK DRIVE
- **STREET 2:** SUITE 300
- **CITY:** HERNDON
- **STATE:** VA
- **ZIP:** 20170
- **BUSINESS PHONE:** 571-323-3939

**MAIL ADDRESS:**
- **STREET 1:** 505 HUNTMAR PARK DRIVE
- **STREET 2:** SUITE 300
- **CITY:** HERNDON
- **STATE:** VA
- **ZIP:** 20170

?xml version="1.0" ? becn-20230223

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549** 

**FORM 8-K** 

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported): February 23, 2023**

**BEACON ROOFING SUPPLY, INC.** 

(Exact name of Registrant as Specified in Its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **000-50924** | **36-4173371** |
| (State or Other Jurisdiction<br>of Incorporation) | (Commission File Number) | (IRS Employer<br>Identification No.) |

---

**505 Huntmar Park Drive, Suite 300, Herndon, VA 20170** 

(Address of Principal Executive Offices) (Zip Code)

**(571) 323-3939** 

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| <u>Title of each class</u> | <u>Trading Symbol</u> | <u>Name of each exchange on which registered</u> |
| **Common Stock, $0.01 par value** | **BECN** | **NASDAQ Global Select Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition**

On February 23, 2023, Beacon Roofing Supply, Inc. (the "Company") issued a press release providing information regarding earnings for the fourth quarter and full year ended December 31, 2022. A copy of the press release is attached hereto as Exhibit 99.1.

On February 23, 2023, the Company delivered a presentation as part of the webcast for the earnings conference call for the fourth quarter and full year ended December 31, 2022. A copy of the presentation is attached hereto as Exhibit 99.2.

The information including Exhibit 99.1 and Exhibit 99.2 in Item 2.02 of this Form 8-K is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in this Form 8-K shall not be incorporated by reference into any filing under the Securities Act of 1933, except as shall otherwise be expressly set forth by specific reference in such filing.

**Item 8.01 Other Events.**

On February 24, 2022, the Company announced that its Board of Directors (the "Board") authorized and approved a $500 million share repurchase program (the "Repurchase Program"), pursuant to which the Company may, from time to time, purchase shares of its common stock, par value $0.01 ("Common Stock"). The Repurchase Program was previously disclosed on a Current Report on Form 8-K filed on February 24, 2022 (the "Prior 8-K"). As of the date hereof, the Company had approximately $112.1 million of the original authorization remaining to repurchase shares.

On February 23, 2023, as part of its earnings conference call for the fourth quarter and full year ended December 31, 2022, the Company is announcing that its Board has authorized and approved an increase of the Repurchase Program by approximately $387.9 million, permitting future share repurchases of $500 million.

For important information about the operation of the Repurchase Program, refer to the Prior 8-K. The timing and amount of repurchase transactions will depend on a variety of factors, including the Company's stock price, market and business conditions, constraints specified in any Rule 10b5-1 trading plans, alternative investment opportunities and other considerations. Accordingly, the Company cannot predict when or if it will repurchase any shares of Common Stock.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits**

*(d)Exhibits*

---

| | |
|:---|:---|
| **<u>Exhibit Index</u>** | **<u>Exhibit Index</u>** |
| **Exhibit**<br>**Number** | **Description** |
| 99.1 | <u>[Beacon Roofing Supply, Inc. press release dated](becnq4-22earningsrelease.htm)February 23, 2023.</u> |
| 99.2 | <u>[Beacon Roofing Supply, Inc. earnings presentation dated](ex-992123122.htm)February 23, 2023.</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | BEACON ROOFING SUPPLY, INC. | BEACON ROOFING SUPPLY, INC. |
| Date: February 23, 2023 | By: | /s/ FRANK A. LONEGRO |
|  |  | Frank A. Lonegro |
|  |  | *Executive Vice President & Chief Financial Officer* |

---

## Exhibit 99.1

**Exhibit 99.1**

![beaconlogo.jpg](beaconlogo.jpg)

**BEACON REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS**

**• Record fourth quarter and full year net sales, net income and Adjusted EBITDA**

**• Achieved strong net income margin and double-digit Adjusted EBITDA margin for the second consecutive calendar year**

**• Ambition 2025 initiatives provided significant contribution to results, with improvements from the bottom quintile branch initiative, accelerated greenfield investments, and M&A**

**• Methodical and targeted inventory reduction efforts since the second quarter yielded strong fourth quarter cash generation and provided capacity to invest**

**• Coastal acquisition substantially enhances Beacon value proposition to roofing, waterproofing and restoration contractors with nationwide specialty waterproofing footprint**

HERNDON, VA.—(BUSINESS WIRE)— February 23, 2023 — <u>Beacon</u> (Nasdaq: BECN) (the "Company", "we", "our") announced results today for the fourth quarter and full year ended December 31, 2022 ("2022").

"We finished the year with strong results including the highest fourth quarter and full year sales, net income and Adjusted EBITDA in Beacon's history," said Julian Francis, Beacon's President & CEO. "In 2022, our 7,000+ team members set financial records by executing against our plan, delivering high caliber service to our customers and progressing on our Ambition 2025 strategy to fully unlock Beacon's potential. We ramped up growth investments, with 22 acquired branches during the year including our fourth quarter acquisition of Coastal, which substantially expanded our waterproofing and restoration offerings to our customers. We also accelerated greenfield investments, adding 16 locations during the year in key markets creating capacity and expanding our branch footprint. I am pleased to report that we finished the year with strong cash generation and enter 2023 with ample capacity to deploy capital to both growth initiatives and shareholder returns. Looking forward, I am confident that we have the right leadership and values-driven culture to deliver on our multi-year strategic roadmap to help our customers build more."

**Fourth Quarter and Full Year Financial Highlights**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **2021** | **2022** | **2021** |
| *(Unaudited; $ in millions, except per share amounts)* |  |  |  |  |
| Net sales | $1969.4 | $1754.9 | $8429.7 | $6820.4 |
| Gross profit | $515.6 | $461.6 | $2235.5 | $1819.6 |
| Gross margin % | 26.2% | 26.3% | 26.5% | 26.7% |
| Operating expense | $389.3 | $355.2 | $1532.1 | $1351.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;% of net sales | 19.8% | 20.2% | 18.2% | 19.8% |
| Adjusted Operating Expense<sup>1</sup> | $364.3 | $306.4 | $1430.8 | $1213.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;% of net sales<sup>1</sup> | 18.5% | 17.5% | 17.0% | 17.8% |
| Net income (loss) from continuing operations | $73.3 | $68.1 | $458.4 | $241.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;% of net sales | 3.7% | 3.9% | 5.4% | 3.5% |
| Adjusted Net Income (Loss)<sup>1</sup> | $93.2 | $105.3 | $537.9 | $394.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;% of net sales<sup>1</sup> | 4.7% | 6.0% | 6.4% | 5.8% |
| Adjusted EBITDA<sup>1</sup> | $178.5 | $174.1 | $910.0 | $685.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;% of net sales<sup>1</sup> | 9.1% | 9.9% | 10.8% | 10.1% |
| Net income (loss) from continuing operations per share — diluted ("EPS") | $0.88 | $0.76 | $5.55 | $2.69 |

---

1. Please see the included financial tables for a reconciliation of "Adjusted" non-GAAP financial measures to the most directly comparable GAAP financial measure, as well as further detail on the components driving the net changes over the comparative periods.

------

*References below to "prior year" and "2021" refer to the three or twelve months ended December 31, 2021, as applicable.*

**Fourth Quarter**

Net sales increased 12.2% (14.1% on a per-day basis) compared to the prior year to $1.97 billion, a Company record for fourth quarter net sales. Fourth quarter sales increased compared to the prior year period driven by the successful implementation of price increases. Weighted-average selling price increased approximately 17-18% and estimated volumes decreased approximately 6-7% (4-5% on a per-day basis).

Residential roofing product sales increased 5.1% (6.9% on a per-day basis), non-residential roofing product sales increased 25.2% (27.1% on a per-day basis), and complementary product sales increased 14.0% (15.9% on a per-day basis) compared to the prior year. The three-month periods ended December 31, 2022 and 2021 had 61 and 62 business days, respectively.

Gross margin decreased to 26.2%, from 26.3% in the prior year, as higher average selling prices for our products were largely offset by higher product cost, combined with increased non-residential product sales mix. The increase in operating expense and Adjusted Operating Expense in 2022 was due to increases in payroll and benefit costs and stock-based compensation, primarily due to increased headcount to support new and acquired branches, as well as inflation and higher incentive compensation. Operating expense as a percent of sales was lower in the fourth quarter of 2022, driven by the positive impact from net sales growth combined with the loss on sale of Solar Products in the prior year period. Adjusted Operating expense as a percent of sales was higher as the positive impacts from net sales were more than offset by higher payroll and benefit costs and selling costs.

Net income (loss) from continuing operations was $73.3 million, compared to $68.1 million in the prior year. Adjusted EBITDA was $178.5 million, compared to $174.1 million in the prior year. EPS was $0.88, compared to $0.76 in the prior year. Improvements in fourth quarter results compared to the prior year period were driven primarily by higher net sales and a reduction in the number of shares outstanding.

**Year ended December 31, 2022**

Net sales increased 23.6% compared to the prior year to $8.43 billion, a Company record. 2022 net sales increased across all three lines of business versus the prior year period, driven largely by the successful implementation of price increases and higher demand for our products. Weighted-average selling price increased approximately 20-21% and estimated volumes increased approximately 1-2%.

Residential roofing product sales increased 17.5%, non-residential roofing product sales increased 41.6%, and complementary product sales increased 17.3% compared to the prior year. The years ended December 31, 2022 and 2021 had 252 and 253 business days, respectively.

Gross margin decreased to 26.5%, from 26.7% in the prior year as price-cost improvement was more than offset by a higher non-residential product sales mix. The increase in operating expense and Adjusted Operating Expense in 2022 was primarily due to increases in payroll and benefit costs, selling costs and general and administrative expenses combined with the effect of acquired branches. Both operating expense as a percent of sales and Adjusted Operating Expense as a percent of sales were lower in 2022, driven by the positive impact from net sales growth.

Net income (loss) from continuing operations was $458.4 million, compared to $241.9 million in the prior year. 2021 results include a loss on debt extinguishment of $60.2 million. Adjusted EBITDA was $910.0 million, compared to $685.9 million in the prior year. EPS was $5.55, compared to $2.69 in the prior year. The improvement compared to the prior year period was largely driven by higher net sales and a reduction in the number of shares outstanding.

In February 2022, Beacon announced the authorization of a share repurchase program, pursuant to which the Company may purchase up to $500 million of its common stock. In 2022, the Company repurchased and retired $388 million of its common stock through a combination of open market repurchases and two previously announced accelerated share repurchase ("ASR") agreements, both of which concluded during 2022. As a result, shares of common stock outstanding decreased to 64.2 million as of December 31, 2022, from 70.4 million as of December 31, 2021.

*To calculate approximate weighted average selling price and product cost changes, we review organic U.S. warehouse sales of the same items sold regionally period over period and normalize the data for non-representative outliers. To calculate estimated volumes, we subtract the change in weighted average selling price, as described above, from the total changes in sales, excluding acquisitions and dispositions. As a result, and especially in high inflationary periods, the weighted average selling price and estimated volume changes may not be directly comparable to changes reported in prior periods.*

*Please see the included financial tables for a reconciliation of "Adjusted" non-GAAP financial measures to the most directly comparable GAAP financial measure, as well as further detail on the components driving the net changes over the comparative periods.*

------

**Earnings Call**

The Company will host a conference call and webcast today at 5:00 p.m. ET to discuss these results. Details for the earnings release event are as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;What: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beacon Fourth Quarter and Full Year 2022 Earnings Call |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thursday, February 23, 2023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5:00 p.m. ET |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Access: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Register for the conference call or webcast by visiting: |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Beacon Investor Relations – Events & Presentations</u> |

---

Upon registration, participants will receive an email containing event details and unique access codes. To ensure timely access, participants should register for the earnings call at least 10 minutes before the 5:00 p.m. ET start time. An archived copy of the webcast will be available on the Events & Presentations page shortly after the call.

**Forward-Looking Statements**

This release contains information about management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate," "estimate," "expect," "believe," "will likely result," "outlook," "project" and other words and expressions of similar meaning. Investors are cautioned not to place undue reliance on forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended September 30, 2021 and subsequent filings with the U.S. Securities and Exchange Commission. The Company may not succeed in addressing these and other risks. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.

**About Beacon**

Founded in 1928, Beacon is a Fortune 500, publicly traded distributor of building products, including roofing materials and complementary products, such as siding and waterproofing. The Company operates over 480 branches throughout all 50 states in the U.S. and 6 provinces in Canada. Beacon serves an extensive base of nearly 100,000 customers, utilizing its vast branch network and diverse service offerings to provide high-quality products and support throughout the entire business lifecycle. Beacon offers its own private label brand, TRI-BUILT®, and has a proprietary digital account management suite, Beacon PRO+, which allows customers to manage their businesses online. Beacon's stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit <u>www.becn.com</u>.

---

| | |
|:---|:---|
| &nbsp;&nbsp;<u>INVESTOR CONTACT</u> | &nbsp;&nbsp;<u>MEDIA CONTACT</u> |
| &nbsp;&nbsp;Binit Sanghvi | &nbsp;&nbsp;Jennifer Lewis |
| &nbsp;&nbsp;VP, Capital Markets and Treasurer | &nbsp;&nbsp;VP, Communications and Corporate Social Responsibility |
| &nbsp;&nbsp;<u>Binit.Sanghvi@becn.com</u> | &nbsp;&nbsp;<u>Jennifer.Lewis@becn.com</u> |
| &nbsp;&nbsp;972-369-8005 | &nbsp;&nbsp;571-752-1048 |

---

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**BEACON ROOFING SUPPLY, INC.**

**Consolidated Statements of Operations**

(In millions, except per share amounts)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **% of <br>Net Sales** | **2021** | **% of <br>Net Sales** | **2022** | **% of <br>Net Sales** | **2021** | **% of <br>Net Sales** |
| | **(Unaudited)** | **(Unaudited)** | | | | | **(Unaudited)** | **(Unaudited)** |
| Net sales | $1969.4 | 100.0% | $1754.9 | 100.0% | $8429.7 | 100.0% | $6820.4 | 100.0% |
| &nbsp;&nbsp;&nbsp;Cost of products sold | 1453.8 | 73.8% | 1293.3 | 73.7% | 6194.2 | 73.5% | 5000.8 | 73.3% |
| Gross profit | 515.6 | 26.2% | 461.6 | 26.3% | 2235.5 | 26.5% | 1819.6 | 26.7% |
| &nbsp;&nbsp;&nbsp;Operating expense: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general and administrative | 350.3 | 17.8% | 294.2 | 16.7% | 1372.9 | 16.3% | 1167.7 | 17.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 19.7 | 1.0% | 16.5 | 0.9% | 75.1 | 0.9% | 61.5 | 0.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | 19.3 | 1.0% | 22.2 | 1.3% | 84.1 | 1.0% | 100.0 | 1.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on sale of business |  | 0.0% | 22.3 | 1.3% |  | 0.0% | 22.3 | 0.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expense | 389.3 | 19.8% | 355.2 | 20.2% | 1532.1 | 18.2% | 1351.5 | 19.8% |
| Income (loss) from operations | 126.3 | 6.4% | 106.4 | 6.1% | 703.4 | 8.3% | 468.1 | 6.9% |
| &nbsp;&nbsp;&nbsp;Interest expense, financing costs and other | 25.4 | 1.3% | 17.4 | 1.0% | 83.7 | 1.0% | 85.5 | 1.3% |
| &nbsp;&nbsp;&nbsp;Loss on debt extinguishment |  | 0.0% |  | 0.0% |  | 0.0% | 60.2 | 0.9% |
| Income (loss) from continuing operations before income taxes | 100.9 | 5.1% | 89.0 | 5.1% | 619.7 | 7.3% | 322.4 | 4.7% |
| &nbsp;&nbsp;&nbsp;Provision for (benefit from) income taxes | 27.6 | 1.4% | 20.9 | 1.2% | 161.3 | 1.9% | 80.5 | 1.2% |
| Net income (loss) from continuing operations | 73.3 | 3.7% | 68.1 | 3.9% | 458.4 | 5.4% | 241.9 | 3.5% |
| &nbsp;&nbsp;Net income (loss) from discontinued operations<sup>1</sup> |  | 0.0% | (0.1) | 0.0% |  | 0.0% | 1.1 | 0.0% |
| Net income (loss) | 73.3 | 3.7% | 68.0 | 3.9% | 458.4 | 5.4% | 243.0 | 3.5% |
| &nbsp;&nbsp;&nbsp;Dividends on Preferred Stock | 6.0 | 0.3% | 6.0 | 0.4% | 24.0 | 0.2% | 24.0 | 0.3% |
| Net income (loss) attributable to common stockholders | $67.3 | 3.4% | $62 | 3.5% | $434.4 | 5.2% | $219 | 3.2% |
| Weighted-average common stock outstanding: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 65.1 |  | 70.3 |  | 67.1 |  | 70.0 |  |
| &nbsp;&nbsp;&nbsp;Diluted | 66.4 |  | 71.5 |  | 68.4 |  | 71.2 |  |
| Net income (loss) per share: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic – Continuing operations | $0.90 |  | $0.78 |  | $5.66 |  | $2.74 |  |
| &nbsp;&nbsp;&nbsp;Basic – Discontinued operations |  |  |  |  |  |  | 0.01 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic net income (loss) per share | $0.90 |  | $0.78 |  | $5.66 |  | $2.75 |  |
| &nbsp;&nbsp;&nbsp;Diluted – Continuing operations | $0.88 |  | $0.76 |  | $5.55 |  | $2.69 |  |
| &nbsp;&nbsp;&nbsp;Diluted – Discontinued operations |  |  |  |  |  |  | 0.01 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted net income (loss) per share | $0.88 |  | $0.76 |  | $5.55 |  | $2.70 |  |

---

1. On February 10, 2021, the Company completed the sale of its interior products and insulation businesses ("Interior Products") to Foundation Building Materials Holding Company LLC. Unless otherwise noted, the Company has reflected Interior Products as discontinued operations for all periods presented. The results of operations from the Company's solar products business ("Solar Products"), which was divested in the fourth calendar quarter of 2021, were included in continuing operations for the three months and year ended December 31, 2021 and were not material to the Company's overall results.

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**BEACON ROOFING SUPPLY, INC.**

**Consolidated Balance Sheets** 

(In millions)

---

| | | |
|:---|:---|:---|
| | **December 31,** | **December 31,** |
| | **2022** | **2021** |
| | | **(Unaudited)** |
| **Assets** |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $67.7 | $225.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 1009.1 | 855.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 1322.9 | 1161.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 417.8 | 367.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 2817.5 | 2609.9 |
| Property and equipment, net | 337.0 | 256.3 |
| Goodwill | 1916.3 | 1777.4 |
| Intangibles, net | 447.7 | 421.0 |
| Operating lease assets | 467.6 | 413.9 |
| Deferred income taxes, net | 9.9 | 61.9 |
| Other assets, net | 7.5 | 8.9 |
| Total assets | $6003.5 | $5549.3 |
| **Liabilities and Stockholders' Equity** |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $821.0 | $794.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses | 448.0 | 472.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current operating lease liabilities | 94.5 | 89.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current finance lease liabilities | 16.1 | 6.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt/obligations | 10.0 | 10.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 1389.6 | 1371.7 |
| Borrowings under revolving lines of credit, net | 254.9 |  |
| Long-term debt, net | 1606.4 | 1612.9 |
| Deferred income taxes, net | 0.2 | 0.8 |
| Non-current operating lease liabilities | 382.1 | 326.3 |
| Non-current finance lease liabilities | 67.0 | 26.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 3700.2 | 3337.7 |
| Convertible Preferred Stock | 399.2 | 399.2 |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock | 0.6 | 0.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Undesignated preferred stock |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 1187.2 | 1148.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 728.8 | 682.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss) | (12.5) | (19.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1904.1 | 1812.4 |
| Total liabilities and stockholders' equity | $6003.5 | $5549.3 |

---

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**BEACON ROOFING SUPPLY, INC.**

**Consolidated Statements of Cash Flows**<sup>1</sup>

(In millions)

---

| | | |
|:---|:---|:---|
| | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **2021** |
| | | **(Unaudited)** |
| **Operating Activities** |  |  |
| Net income (loss) | $458.4 | $243.0 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 159.2 | 161.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 27.6 | 20.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Certain interest expense and other financing costs | 5.2 | 7.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on debt extinguishment |  | 60.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of fixed assets and other | (4.1) | (4.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 30.1 | (51.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on sale of business |  | 27.5 |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable | (111.4) | (93.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | (117.7) | (224.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | (36.3) | (34.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | (15.2) | 68.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets and liabilities | 5.3 | (12.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 401.1 | 166.7 |
| **Investing Activities** |  |  |
| Purchases of property and equipment | (90.1) | (71.8) |
| Acquisition of business, net | (309.2) | (89.0) |
| Proceeds from sale of business |  | 871.8 |
| Proceeds from sale of assets | 5.2 | 5.4 |
| Investment in available for sale securities | (1.5) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) investing activities | (395.6) | 716.4 |
| **Financing Activities** |  |  |
| Borrowings under revolving lines of credit | 2781.3 | 250.0 |
| Payments under revolving lines of credit | (2520.6) | (407.0) |
| Borrowings under term loan |  | 1000.0 |
| Payments under term loan | (10.0) | (948.4) |
| Borrowings under senior notes |  | 350.0 |
| Payment under senior notes |  | (1300.0) |
| Payment of debt issuance costs |  | (20.3) |
| Payment of call premium |  | (31.7) |
| Payments under equipment financing facilities and finance leases | (12.1) | (6.2) |
| Repurchase and retirement of common stock, net | (388.1) |  |
| Payment of dividends on Preferred Stock | (24.0) | (24.0) |
| Proceeds from issuance of common stock related to equity awards | 16.7 | 24.4 |
| Payment of taxes related to net share settlement of equity awards | (5.7) | (6.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | (162.5) | (1119.3) |
| Effect of exchange rate changes on cash and cash equivalents | (1.1) | 0.6 |
| Net increase (decrease) in cash and cash equivalents | (158.1) | (235.6) |
| Cash and cash equivalents, beginning of period | 225.8 | 461.4 |
| Cash and cash equivalents, end of period | $67.7 | $225.8 |
| **Supplemental Cash Flow Information** |  |  |
| Operating cash flows provided by (used in) discontinued operations | $— | $(21.8) |
| Cash paid during the period for: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest | $83.4 | $95.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes, net of refunds<sup>2</sup> | $157.1 | $123.8 |

---

1. Unless otherwise noted, amounts include both continuing and discontinued operations.

2. Taxes paid in the year ended December 31, 2022 includes $18.6 million related to the transition period from October 1, 2021 to December 31, 2021. Taxes paid in the year ended December 31, 2021 includes $73.2 million related to the Interior Products divestiture.

------

**BEACON ROOFING SUPPLY, INC.**

**Consolidated Sales by Line of Business**

(Unaudited; in millions)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sales by Line of Business** | **Sales by Line of Business** | **Sales by Line of Business** | **Sales by Line of Business** | **Sales by Line of Business** | **Sales by Line of Business** |
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year-over-Year Change** |
|  | **2022** | **2022** | **2021** | **2021** | **Year-over-Year Change** |
|  | **Net Sales** | **Mix %** | **Net Sales** | **Mix %** | $**%** |
| Residential roofing products | $967.1 | 49.1% | $919.8 | 52.4% | 5.1% |
| Non-residential roofing products | 562.6 | 28.6% | 449.4 | 25.6% | 25.2% |
| Complementary building products | 439.7 | 22.3% | 385.7 | 22.0% | 14.0% |
|  | $1969.4 | 100.0% | $1754.9 | 100.0% | 12.2% |
| **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> |
|  | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year-over-Year Change** |
|  | **2022** | **2022** | **2021** | **2021** | **Year-over-Year Change** |
|  | **Net Sales** | **Mix %** | **Net Sales** | **Mix %** | $**%** |
| Residential roofing products | $15.9 | 49.1% | $14.8 | 52.4% | 6.9% |
| Non-residential roofing products | 9.2 | 28.6% | 7.3 | 25.6% | 27.1% |
| Complementary building products | 7.2 | 22.3% | 6.2 | 22.0% | 15.9% |
|  | $32.3 | 100.0% | $28.3 | 100.0% | 14.1% |

---

1. The three-month periods ended December 31, 2022 and 2021 had 61 and 62 business days, respectively.

2. Dollar and percentage changes may not recalculate due to rounding.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sales by Line of Business** | **Sales by Line of Business** | **Sales by Line of Business** | **Sales by Line of Business** | **Sales by Line of Business** | **Sales by Line of Business** |
| | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year-over-Year Change** |
|  | **2022** | **2022** | **2021** | **2021** | **Year-over-Year Change** |
|  | **Net Sales** | **Mix %** | **Net Sales** | **Mix %** | $**%** |
| Residential roofing products | $4217.9 | 50.0% | $3591.2 | 52.7% | 17.5% |
| Non-residential roofing products | 2464.3 | 29.2% | 1739.9 | 25.5% | 41.6% |
| Complementary building products | 1747.5 | 20.8% | 1489.3 | 21.8% | 17.3% |
|  | $8429.7 | 100.0% | $6820.4 | 100.0% | 23.6% |
| **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> | **Sales by Business Day**<sup>1,2</sup> |
|  | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** | **Year-over-Year Change** |
|  | **2022** | **2022** | **2021** | **2021** | **Year-over-Year Change** |
|  | **Net Sales** | **Mix %** | **Net Sales** | **Mix %** | $**%** |
| Residential roofing products | $16.8 | 50.0% | $14.2 | 52.7% | 17.9% |
| Non-residential roofing products | 9.8 | 29.2% | 6.9 | 25.5% | 42.1% |
| Complementary building products | 6.9 | 20.8% | 5.9 | 21.8% | 17.9% |
|  | $33.5 | 100.0% | $27.0 | 100.0% | 24.1% |

---

1. The years ended December 31, 2022 and 2021 had 252 and 253 business days, respectively.

2. Dollar and percentage changes may not recalculate due to rounding.

------

**BEACON ROOFING SUPPLY, INC.**

**Non-GAAP Financial Measures**

(Unaudited; in millions)

**Non-GAAP Financial Measures**

To provide investors with additional information regarding our financial results, we prepare certain financial measures that are not calculated in accordance with GAAP, specifically:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Adjusted Operating Expense*. We define Adjusted Operating Expense as operating expense, excluding the impact of the adjusting items (as described below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Adjusted Net Income (Loss)*. We define Adjusted Net Income (Loss) as net income (loss) from continuing operations, excluding the impact of the adjusting items (as described below).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Adjusted EBITDA*. We define Adjusted EBITDA as net income (loss) from continuing operations, excluding the impact of interest expense (net of interest income), income taxes, depreciation and amortization, stock-based compensation, and the adjusting items (as described below).

We use these supplemental non-GAAP measures to evaluate financial performance, analyze the underlying trends in our business and establish operational goals and forecasts that are used when allocating resources. We expect to compute our non-GAAP financial measures consistently using the same methods each period.

We believe these non-GAAP measures are useful measures because they permit investors to better understand changes over comparative periods by providing financial results that are unaffected by certain items that are not indicative of ongoing operating performance.

While we believe that these non-GAAP measures are useful to investors when evaluating our business, they are not prepared and presented in accordance with GAAP, and therefore should be considered supplemental in nature. These non-GAAP measures should not be considered in isolation or as a substitute for other financial performance measures presented in accordance with GAAP. These non-GAAP financial measures may have material limitations including, but not limited to, the exclusion of certain costs without a corresponding reduction of net income for the income generated by the assets to which the excluded costs relate. In addition, these non-GAAP financial measures may differ from similarly titled measures presented by other companies.

------

**BEACON ROOFING SUPPLY, INC.**

**Non-GAAP Financial Measures (continued)**

(Unaudited; in millions)

**Adjusting Items to Non-GAAP Financial Measures**

The impact of the following expense (income) items is excluded from each of our non-GAAP measures (the "adjusting items"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Acquisition costs*. Represent certain costs related to historical acquisitions, including: amortization of intangible assets; professional fees, branch integration expenses, travel expenses, employee severance and retention costs, and other personnel expenses classified as selling, general and administrative; gains/losses related to changes in fair value of contingent consideration or holdback liabilities; and amortization of debt issuance costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Restructuring costs*. Represent costs stemming from headcount rationalization efforts and certain rebranding costs; impact of the Interior Products and Solar Products divestitures; costs related to changing our fiscal year end; amortization of debt issuance costs; debt refinancing and extinguishment costs; and abandoned lease costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *COVID-19 impacts*. Represent costs directly related to the COVID-19 pandemic.

The following table presents the impact and respective location of the adjusting items on our consolidated statements of operations for each of the periods indicated:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Operating Expense** | **Operating Expense** | **Operating Expense** | **Non-Operating Expense** | **Non-Operating Expense** | | |
| | **SG&A**<sup>1</sup> | **Amorti-zation** | **Loss on Sale of Business** | **Interest Expense** | **Other (Income) Expense** | **Income Taxes**<sup>2</sup> | **Total** |
| **Three Months Ended December 31, 2022** | | | | | | | |
| Acquisition costs | $2.6 | $19.3 | $— | $1.1 | $— | $— | $23 |
| Restructuring costs | 2.8 |  |  | 0.3 |  |  | 3.1 |
| COVID-19 impacts | 0.3 |  |  |  |  |  | 0.3 |
| Total adjusting items | $5.7 | $19.3 | $— | $1.4 | $— | $— | $26.4 |
| **Three Months Ended December 31, 2021** |  |  |  |  |  |  |  |
| Acquisition costs | $0.4 | $22.2 | $— | $1 | $— | $— | $23.6 |
| Restructuring costs | 2.9 |  | 22.3 | 0.3 |  |  | 25.5 |
| COVID-19 impacts | 1.0 |  |  |  |  |  | 1.0 |
| Total adjusting items | $4.3 | $22.2 | $22.3 | $1.3 | $— | $— | $50.1 |
| **Year Ended December 31, 2022** |  |  |  |  |  |  |  |
| Acquisition costs | $6.3 | $84.1 | $— | $4 | $— | $— | $94.4 |
| Restructuring costs | 8.9 |  |  | 1.2 |  |  | 10.1 |
| COVID-19 impacts | 2.0 |  |  |  |  |  | 2.0 |
| Total adjusting items | $17.2 | $84.1 | $— | $5.2 | $— | $— | $106.5 |
| **Year Ended December 31, 2021** |  |  |  |  |  |  |  |
| Acquisition costs | $2.6 | $97.8 | $— | $5.1 | $— | $— | $105.5 |
| Restructuring costs<sup>3</sup> | 10.4 | 2.2 | 22.3 | 2.1 | 60.3 |  | 97.3 |
| COVID-19 impacts | 2.3 |  |  |  |  |  | 2.3 |
| Total adjusting items | $15.3 | $100.0 | $22.3 | $7.2 | $60.3 | $— | $205.1 |

---

1. Selling, general and administrative expense ("SG&A").

2. For tax impact of adjusting items, see Adjusted Net Income (Loss) table below.

3. Other (income) expense for the year ended December 31, 2021 includes a loss on debt extinguishment of $60.2 million in connection with the write-off of debt issuance costs and payment of redemption premiums stemming from our refinancing transactions.

------

**BEACON ROOFING SUPPLY, INC.**

**Non-GAAP Financial Measures (continued)**

(Unaudited; in millions)

**Adjusted Operating Expense**

The following table presents a reconciliation of operating expense, the most directly comparable financial measure as measured in accordance with GAAP, to Adjusted Operating Expense for each of the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **2021** | **2022** | **2021** |
| Operating expense | $389.3 | $355.2 | $1532.1 | $1351.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition costs | (21.9) | (22.6) | (90.4) | (100.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring costs | (2.8) | (25.2) | (8.9) | (34.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;COVID-19 impacts | (0.3) | (1.0) | (2.0) | (2.3) |
| Adjusted Operating Expense | $364.3 | $306.4 | $1430.8 | $1213.9 |
| Net sales | $1969.4 | $1754.9 | $8429.7 | $6820.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating expense as % of sales | 19.8% | 20.2% | 18.2% | 19.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted Operating Expense as % of sales | 18.5% | 17.5% | 17.0% | 17.8% |

---

**Adjusted Net Income (Loss)**

The following table presents a reconciliation of net income (loss) from continuing operations, the most directly comparable financial measure as measured in accordance with GAAP, to Adjusted Net Income (Loss) for each of the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **2021** | **2022** | **2021** |
| Net income (loss) from continuing operations | $73.3 | $68.1 | $458.4 | $241.9 |
| Adjusting items: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition costs | 23.0 | 23.6 | 94.4 | 105.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring costs | 3.1 | 25.5 | 10.1 | 97.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;COVID-19 impacts | 0.3 | 1.0 | 2.0 | 2.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total adjusting items | 26.4 | 50.1 | 106.5 | 205.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: tax impact of adjusting items<sup>1</sup> | (6.5) | (12.9) | (27.0) | (52.6) |
| Total adjustments, net of tax | 19.9 | 37.2 | 79.5 | 152.5 |
| Adjusted Net Income (Loss) | $93.2 | $105.3 | $537.9 | $394.4 |
| Net sales | $1969.4 | $1754.9 | $8429.7 | $6820.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) as % of sales | 3.7% | 3.9% | 5.4% | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted Net Income (Loss) as % of sales | 4.7% | 6.0% | 6.4% | 5.8% |

---

1. Amounts represent tax impact on adjustments that are not included in our income tax provision (benefit) for the periods presented. The tax impact of adjustments for the three months ended December 31, 2022 and 2021 were calculated using a blended effective tax rate of 24.6% and 25.7%, respectively. The tax impact of adjustments for the year ended December 31, 2022 and 2021 were calculated using a blended effective tax rate of 25.4% and 25.6%, respectively.

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**BEACON ROOFING SUPPLY, INC.**

**Non-GAAP Financial Measures (continued)**

(Unaudited; in millions)

**Adjusted EBITDA**

The following table presents a reconciliation of net income (loss) from continuing operations, the most directly comparable financial measure as measured in accordance with GAAP, to Adjusted EBITDA for each of the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended December 31,** | **Three Months Ended December 31,** | **Year Ended December 31,** | **Year Ended December 31,** |
| | **2022** | **2021** | **2022** | **2021** |
| Net income (loss) from continuing operations | $73.3 | $68.1 | $458.4 | $241.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | 26.3 | 17.0 | 86.3 | 86.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes | 27.6 | 20.9 | 161.3 | 80.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 39.0 | 38.7 | 159.2 | 161.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 6.6 | 2.8 | 27.6 | 17.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition costs<sup>1</sup> | 2.6 | 0.4 | 6.3 | 2.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring costs<sup>1</sup> | 2.8 | 25.2 | 8.9 | 93.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;COVID-19 impacts | 0.3 | 1.0 | 2.0 | 2.3 |
| Adjusted EBITDA | $178.5 | $174.1 | $910 | $685.9 |
| Net sales | $1969.4 | $1754.9 | $8429.7 | $6820.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) as % of sales | 3.7% | 3.9% | 5.4% | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted EBITDA as % of sales | 9.1% | 9.9% | 10.8% | 10.1% |

---

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

## Exhibit 99.2

![](ex-992123122001.jpg)

FEBRUARY 23, 2023 2022 Q4 & FULL YEAR 2022 EARNINGS PRESENTATION Exhibit 99.2

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![](ex-992123122002.jpg)

becn.com2 Disclosure Notice This presentation contains information about management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and often use words such as "anticipate," "estimate," "expect," "believe," "will likely result," "outlook," "project" and other words and expressions of similar meaning. Investors are cautioned not to place undue reliance on forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended September 30, 2021 and subsequent filings with the U.S. Securities and Exchange Commission. The Company may not succeed in addressing these and other risks. Consequently, all forward-looking statements in this presentation are qualified by the factors, risks and uncertainties contained therein. In addition, the forward-looking statements included in this presentation represent the Company's views as of the date of this presentation and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this presentation. This presentation contains references to certain financial measures that are not presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"). The Company uses non-GAAP financial measures to evaluate financial performance, analyze underlying business trends and establish operational goals and forecasts that are used when allocating resources. The Company believes these non-GAAP financial measures permit investors to better understand changes over comparative periods by providing financial results that are unaffected by certain items that are not indicative of ongoing operating performance. While the Company believes these measures are useful to investors when evaluating performance, they are not prepared and presented in accordance with GAAP, and therefore should be considered supplemental in nature. The Company's non-GAAP financial measures should not be considered in isolation or as a substitute for other financial performance measures presented in accordance with GAAP. These non-GAAP financial measures may have material limitations including, but not limited to, the exclusion of certain costs without a corresponding reduction of net income for the income generated by the assets to which the excluded costs relate. In addition, these non-GAAP financial measures may differ from similarly titled measures presented by other companies. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure can be found in the Appendix as well as the Company's latest Form 8-K, filed with the SEC on February 23, 2023.

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![](ex-992123122003.jpg)

becn.com3 PRESIDENT & CHIEF EXECUTIVE OFFICER JULIAN FRANCIS

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![](ex-992123122004.jpg)

becn.com CEO Perspective $68 $105 $73 $93 GAAP Adj. NI\* Net Income ($M) Q4'21 Q4'22 $174 $179 Adj. EBITDA\* ($M) Q4'21 Q4'22 9.1% 9.9% \*Non-GAAP measure; see Appendix for definition and reconciliation \*\*Percentages adjusted for one less selling day in Q4'22 as compared to Q4'21 Notes: All quarterly information and comparisons reflect Continuing Operations which includes the Solar Products business divested on 12/1/21. Percentages within the bar charts represent each metric as a % of net sales. 4.7% 6.0% 3.7%3.9% Highest fourth quarter net sales in history, up 14.1% per day YoY\*\* • Higher selling prices YoY drove growth; Pricing stable sequentially • Total volumes per day down MSD YoY, weakness in new single-family • Strong prior year shingle comparable Record fourth quarter net income and Adjusted EBITDA\* • 12th straight quarter of YoY Adjusted EBITDA\* increases • Full year net income margin of 5.4%, Adjusted EBITDA margin\* of 10.8% Capital allocation balancing growth and shareholder returns • Acquired Coastal Construction Products; Active acquisition pipeline • Repurchased 6.8M shares ($388M) in 2022 • Maintained balance sheet flexibility, ample capacity to invest 4

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![](ex-992123122005.jpg)

becn.com5 Ambition 2025 Strategy – Resilient Through the Cycle Accelerating value creation for our customers, employees and shareholders RELENTLESS CUSTOMER FOCUS DRIVING OPERATIONAL EXCELLENCE • Branch Optimization • Beacon OTC® Network Expansion • Continuous Improvement BUILDING A WINNING CULTURE • Winning the Best Talent • Building More in Our Communities • Doing the Right Thing • Values-Based ESG DRIVE ABOVE MARKET GROWTH • Enhanced Customer Experience • Go to Market Strategy • Footprint Expansion • Margin Initiatives • Reset Business Focus • Strong Growth & Margin Trajectory • Cash Flow & Liquidity Support Share Buybacks CREATING SHAREHOLDER VALUE

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![](ex-992123122006.jpg)

becn.com6 • Increasing Board of Directors diversity with the addition of two new members • Continued active partnership with Rebuilding Together through Beacon volunteer efforts • Launched trials of EV express vans, forklifts, and delivery cranes Executing on Ambition 2025 Initiatives Significant progress toward achieving the targets set out in our Ambition 2025 strategy DRIVING OPERATIONAL EXCELLENCE BUILDING A WINNING CULTURE DRIVING ABOVE MARKET GROWTH CREATING SHAREHOLDER VALUE • Bottom Quintile Branch initiative added $4M bottom-line contribution in Q4 YoY • Branch revitalization pilots optimizing pick path & load sequence reducing fulfillment times per order • Beacon OTC® model results in network efficiency & enhanced service level supporting sales growth • Acquired 19 branches and opened 12 Greenfield locations in Q4 adding capacity in growth markets • Digital sales +26% in Q4 YoY, launched mobile app • Customer Experience pilots seeing improved operating performance and sales growth • Record Q4 net sales, net income & Adj. EBITDA\* • Completed June Accelerated Share Repurchase agreement retiring additional 1.1M shares in Q4 • Retained financial flexibility, ample capacity to invest with net debt leverage\* of 2.0x as of 12/31 \*Non-GAAP measure; see Appendix for definition and reconciliation

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![](ex-992123122007.jpg)

becn.com7 EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER FRANK LONEGRO

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becn.com8 Q4 2022 Sales and Mix Sales growth of 14.1% per day\* • Disciplined price execution drove growth across all three LOBs • Backlog converting sequentially, remains above pre-pandemic levels Residential sales per day up 6.9%\* • Pricing drove growth YoY, stable QoQ • Volumes outpaced market, down HSD per day YoY vs. strong PY • Single-family new construction activity slowed during the quarter Non-residential sales per day up 27.1%\* • Pricing execution nearly offset significant product cost inflation • Volume down MSD per day YoY, higher single-ply demand • Supply chain improving while project cycle times remain elevated Complementary sales per day up 15.9%\* • Above market growth in siding products, waterproofing benefited from the acquisition of Coastal Construction Products • Higher prices across nearly all product lines $920 $449 $386 $967 $563 $440 Residential Non-residential Complementary Net Sales by Line of Business (LOB) ($M)\* Q4'21 Q4'22 +6.9% +27.1% +15.9% 49% 29% 22% Net Sales Mix Residential Non-residential Complementary $1,755 $1,969 Net Sales ($M)\* Q4'21 Q4'22 +14.1% \*Percentages adjusted for one less selling day in Q4'22 as compared to Q4'21

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becn.com9 100 145 137 139 121 148 146 152 144 171 173 156 Sales Per Hour Worked\*\*\* (Indexed to Q1'20) \*Non-GAAP measure; see Appendix for definition and reconciliation \*\*Headcount does not include acquisitions \*\*\*Hours worked reflect all company-wide hourly employees, but excludes salaried/commission-based personnel Notes: All quarterly information and comparisons reflect Continuing Operations. Percentages within the bar charts represent each metric as a % of net sales. Q4 2022 Margin and Expense 25.4% 26.3% 26.2% Q4'20 Q4'21 Q4'22 Gross Margin Gross margin -10 bps YoY • Price-cost positive YoY, better than expected • Higher non-residential sales mix YoY Adjusted OpEx\* +$58M YoY, 18.5% of sales • Inflation in wages, insurance & benefits and T&E • Higher commissions and incentive comp • OpEx associated with Ambition 2025 investments to drive growth & margin • Newly opened and acquired branches • M&A and Greenfield project teams • Sales organization, customer experience, pricing tools and e-commerce technologies $355 $306 $389 $364 GAAP Adj. OpEx\* Operating Expense ($M) Q4'21 Q4'22 17.5% 18.5% 19.8%20.2% 6,667 6,543 6,715 7,116 7,098 7,060 Headcount\*\*

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becn.com10 2022 2025 2026 2027 2028 2029 Q4'22 Proforma Debt Maturity by Year ($M)\*\*\*\* ABL Term Loan Secured Notes Unsecured Notes $561 $350 $985 $0 $300 $261 Strong Balance Sheet, Capacity to Invest in Growth Strong cash generation in Q4'22 • Inventory reduction plan resulted in ~$230M decrease from Q2'22 levels • Highest Op. Cash Flow since Q2'20 Ample balance sheet capacity • Net debt leverage\* 2.0x at 12/31 • >$1.0B liquidity as of 12/31 quarter end Balanced capital allocation remains priority • Increased reinvestment in existing operations • Reduced net shares outstanding to 64.2M as of 12/31 compared to 70.4M at prior year end • Acquisition pipeline remains active $1,087 $1,171 $1,085 $1,162 $1,462 $1,549 $1,389 $1,323 Net Inventory ($M)\*\* Investing in value-creating opportunities to achieve Ambition 2025 goals 6.1 5.3 4.7 4.8 2.9 2.4 2.1 2.1 2.3 2.5 2.0 2.0 Net Debt Leverage\* \*Non-GAAP measure; see Appendix for definition and reconciliation \*\*All periods presented are balances from continuing operations only \*\*\*Calculation for these periods include amounts derived from combined operations – see Appendix for further detail \*\*\*\*Maturities shown as of Q4'22; excl impact of debt issuance cost amortization & required $10M annual paydown of 2028 Term Loan ($84) $103 $98 $50 ($162) ($25) $268 $320 ($86) $125 $167 $60 ($162) ($24) $269 $320 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Operating Cash Flow ($M) GAAP Adj. OCF\*

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PRESIDENT & CHIEF EXECUTIVE OFFICER JULIAN FRANCIS

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becn.com12 Reflections on a Record 2022 \*Non-GAAP measure; see Appendix for definition and reconciliation Note: All full year information and comparisons reflect Continuing Operations Beacon delivered tangible progress in 2022 towards our Ambition 2025 targets • Net sales growth of 24% to $8.4B • Record full year net income and Adj. EBITDA\* • Record digital & private label sales, adoption rates • Record National Accounts sales, up 36% YoY • Bottom quintile branches added $36M to bottom line • 5 acquisitions adding footprint & capabilities • 16 Greenfields in 12 states • Key leadership positions filled, advancing DE&I • Repurchased and retired 6.8M shares ($388M) Highlights Ambition 2025 Targets (as presented on February 24, 2022)

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becn.com13 2023 market outlook • Market fundamentals to remain stable, non-discretionary repair, restoration & re-roofing represents significant portion of demand • Single-family new construction activity expected to be subdued in H1'23 • While the recent ABI reading is slightly below 50, booking activity remains healthy & backlog provides continued support Q1'23 expectations • January 2023 sales per day up ~5.5% YoY\*; Q1'23 net sales to be up ~5% YoY (up ~3.5% on a per day basis YoY\*) • Gross margins expected to be in the ~25.5% range with OpEx dollars similar to the fourth quarter of '22 Full Year 2023 indications • Expect net sales growth of 2 – 4% YoY, including contributions from previously announced acquisitions • Gross margin YoY to be impacted from inventory profit roll-off, partially offset by structural gains from margin enhancing initiatives • Focused on Ambition 2025 initiatives, execution on customer experience, operational excellence and pricing • Adjusted EBITDA\*\* of $810 – $870M; Continued normalization of inventory levels, higher free cash flow conversion Continue to strategically invest in initiatives to drive toward Ambition 2025 targets • Expect to remain acquisitive consistent with the enhanced M&A pipeline • Continued acceleration in greenfield investment to yield at least 15 new locations in 2023 • New share repurchase program of $500M inclusive of $112M remaining authorization under current program Closing Thoughts \*Percentages adjusted for one more selling day in Q1'23 as compared to Q1'22 \*\*Non-GAAP measure; see Appendix for definition and reconciliation Beacon is well-positioned for 2023 and to deliver on Ambition 2025 targets

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APPENDIX

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becn.com16 Reconciliations: Non-GAAP Financial Measures RESULTS BY QUARTER (CONTINUING OPERATIONS) We define Adjusted Operating Expense as operating expense (as reported on a GAAP basis) excluding the impact of amortization, acquisition costs, restructuring costs, and costs directly related to the COVID-19 pandemic. We define Adjusted EBITDA as net income (loss) from continuing operations excluding the impact of interest expense (net of interest income), income taxes, depreciation and amortization, stock-based compensation, acquisition costs, restructuring costs, and costs directly related to the COVID-19 pandemic. Adjusted EBITDA for the fiscal year ended 12/31/22 can be derived by adding Adjusted EBITDA for each of the constituent four quarters. Dividing Adjusted EBITDA for the fiscal year ended 12/31/22 of $910.0 by net sales for that period of $8,429.7 results in an Adjusted EBITDA margin of 10.8%. \* Three months ended 3/31/2020 amount includes the impact of non- cash accelerated intangible asset amortization of $142.6 million related to the write-off of certain trade names in connection with the Company's rebranding efforts. For additional information see our latest Form 8-K, filed with the SEC on February 23, 2023. ($M) 3/31/2020 6/30/2020 9/30/2020 12/31/2020 3/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 Net sales 1,197.1$1,549.3$1,755.0$1,576.5$1,318.0$1,872.1$1,875.4$1,754.9$1,686.9$2,358.2$2,415.2$1,969.4$ Gross profit 270.4$368.7$441.3$399.7$332.8$517.4$507.8$461.6$439.5$650.2$630.2$515.6$ Gross margin % 22.6% 23.8% 25.1% 25.4% 25.3% 27.6% 27.1% 26.3% 26.1% 27.6% 26.1% 26.2% Adjusted Operating Expense Operating expense 446.0$293.5$324.9$304.6$310.0$336.6$349.7$355.2$348.2$395.8$398.8$389.3$ Acquisition costs (28.4) (32.6) (31.9) (26.6) (25.9) (26.0) (25.9) (22.6) (21.9) (23.2) (23.5) (21.9) Restructuring costs\* (143.5) (1.0) (0.4) (1.9) (5.3) (1.6) (2.8) (25.2) (1.7) (2.9) (1.4) (2.8) COVID-19 impacts — (3.4) (0.8) (0.3) (0.5) (0.4) (0.4) (1.0) (1.4) (0.1) (0.2) (0.3) Adjusted Operating Expense 274.1$256.5$291.8$275.8$278.3$308.6$320.6$306.4$323.2$369.6$373.7$364.3$ Operating expense % of sales 37.3% 18.9% 18.5% 19.3% 23.5% 18.0% 18.6% 20.2% 20.7% 16.8% 16.5% 19.8% Adjusted Operating Expense % of sales 22.9% 16.6% 16.6% 17.5% 21.1% 16.5% 17.1% 17.5% 19.2% 15.7% 15.5% 18.5% Adjusted EBITDA Net income (loss) from continuing operations (121.4)$(4.1)$68.2$47.4$(10.5)$79.8$104.5$68.1$55.8$174.5$154.8$73.3$ Interest expense, net 35.6 35.4 32.7 31.3 29.5 23.1 17.1 17.0 17.2 19.1 23.6 26.3 Income taxes (77.9) 44.1 16.9 17.7 (4.8) 27.1 37.3 20.9 18.9 61.0 53.8 27.6 Depreciation and amortization\* 183.2 45.0 43.9 39.4 42.2 40.3 40.3 38.7 38.9 40.4 40.9 39.0 Stock-based compensation 4.4 3.3 3.5 3.8 4.2 5.5 4.9 2.8 5.1 8.0 7.9 6.6 Acquisition costs (2.8) 1.6 1.8 1.1 0.6 0.7 0.9 0.4 0.5 1.7 1.6 2.6 Restructuring costs 1.0 1.9 1.2 1.9 12.6 52.5 2.7 25.2 1.7 2.9 1.4 2.8 COVID-19 impacts — 3.4 0.8 0.3 0.5 0.4 0.4 1.0 1.4 0.1 0.2 0.3 Adjusted EBITDA 22.1$130.6$169.0$142.9$74.3$229.4$208.1$174.1$139.5$307.7$284.2$178.5$ Net income (loss) % of sales (10.1%) (0.3%) 3.9% 3.0% (0.8%) 4.3% 5.6% 3.9% 3.3% 7.4% 6.4% 3.7% Adjusted EBITDA % of sales 1.8% 8.4% 9.6% 9.1% 5.6% 12.3% 11.1% 9.9% 8.3% 13.0% 11.8% 9.1% Three Months Ended

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becn.com17 ADJUSTED OPERATING CASH FLOW We define Adjusted Operating Cash Flow as net cash provided by (used in) operating activities (as calculated on a GAAP basis) excluding the impact of discontinued operations and other non-recurring cash activity related to the Company's divestiture of its Interior Products business to Foundation Building Materials ("FBM"). \* Net cash collected on behalf of, and repaid to, FBM as part of the ongoing transaction services agreement. Reconciliations: Non-GAAP Financial Measures ($M) 3/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 Net cash provided by (used in) operating activities (84.0)$102.7$98.4$49.6$(162.0)$(25.0)$268.2$319.9$ Operating cash flows used in discontinued operations 21.8 — — — — — — — Income taxes paid related to Interior Products divestiture 3.3 43.3 16.7 9.9 — — — — Cash (collected) repaid on behalf of FBM\* (27.3) (20.8) 52.0 0.1 (0.4) 1.5 0.9 0.3 Adjusted Operating Cash Flows (86.2)$125.2$167.1$59.6$(162.4)$(23.5)$269.1$320.2$ Three Months Ended

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becn.com18 NET DEBT LEVERAGE We define Net Debt Leverage as gross total debt less cash, divided by Adjusted EBITDA for the trailing four quarters. \* Historical quarterly Adjusted EBITDA totals used in the calculation of Net Debt Leverage are presented on an as-reported basis, therefore the calculations for the periods ended March 31, June 30, and September 30, 2020 are based on Adjusted EBITDA from combined operations (see slide 19 for reconciliations). Beginning with the period ended December 31, 2020, the Company began presenting its Interior Products business as discontinued operations, therefore the calculations of Net Debt Leverage for the periods ended December 31, 2020 and forward are based on Adjusted EBITDA from continuing operations (see slide 16 for reconciliations). Reconciliations: Non-GAAP Financial Measures ($M) 3/31/2020 6/30/2020 9/30/2020 12/31/2020 3/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 Gross total debt 3,576.8$3,419.8$2,818.3$2,714.7$2,135.5$1,663.2$1,660.0$1,657.8$1,807.8$2,123.5$1,905.3$1,911.2$ Less: cash and cash equivalents (781.2) (1,018.4) (624.6) (461.4) (619.3) (188.9) (260.0) (225.8) (52.4) (54.6) (84.9) (67.7) Net debt 2,795.6$2,401.4$2,193.7$2,253.3$1,516.2$1,474.3$1,400.0$1,432.0$1,755.4$2,068.9$1,820.4$1,843.5$ Adjusted EBITDA\* for the quarter ended: 6/30/2019 157.8$—$—$—$—$—$—$—$—$—$—$—$9/30/2019 169.1 169.1 — — — — — — — — — — 12/31/2019 94.3 94.3 94.3 — — — — — — — — — 3/31/2020 38.9 38.9 38.9 22.1 — — — — — — — — 6/30/2020 — 147.5 147.5 130.6 130.6 — — — — — — — 9/30/2020 — — 190.9 169.0 169.0 169.0 — — — — — — 12/31/2020 — — — 142.9 142.9 142.9 142.9 — — — — — 3/31/2021 — — — — 74.3 74.3 74.3 74.3 — — — — 6/30/2021 — — — — — 229.4 229.4 229.4 229.4 — — — 9/30/2021 — — — — — — 208.1 208.1 208.1 208.1 — — 12/31/2021 — — — — — — — 174.1 174.1 174.1 174.1 — 3/31/2022 — — — — — — — — 139.5 139.5 139.5 139.5 6/30/2022 — — — — — — — — — 307.7 307.7 307.7 9/30/2022 — — — — — — — — — — 284.2 284.2 12/31/2022 — — — — — — — — — — — 178.5 TTM Adjusted EBITDA 460.1$449.8$471.6$464.6$516.8$615.6$654.7$685.9$751.1$829.4$905.5$909.9$ Net Debt Leverage 6.1x 5.3x 4.7x 4.8x 2.9x 2.4x 2.1x 2.1x 2.3x 2.5x 2.0x 2.0x

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becn.com19 CERTAIN 2019-2020 RESULTS BY FISCAL QUARTER (COMBINED OPERATIONS) This table is presented for purposes of reconciling Adjusted EBITDA amounts utilized in the calculation of Net Debt Leverage for historical periods presented on slide 18. We define Adjusted EBITDA as net income (loss) excluding the impact of interest expense (net of interest income), income taxes, depreciation and amortization, stock-based compensation, acquisition costs, restructuring costs, and costs directly related to the COVID-19 pandemic. \* Three months ended 3/31/2020 amount includes the impact of non-cash accelerated intangible asset amortization of $142.6 million related to the write-off of certain trade names in connection with the Company's rebranding efforts. Reconciliations: Non-GAAP Financial Measures ($M) 6/30/2019 9/30/2019 12/31/2019 3/31/2020 6/30/2020 9/30/2020 Net income (loss) 31.0$27.4$(23.4)$(122.6)$(6.7)$71.9$ Interest expense, net 40.2 38.4 34.7 35.6 35.3 32.7 Income taxes 5.2 20.8 (9.6) (81.8) 46.6 18.1 Depreciation and amortization\* 69.4 69.5 63.9 204.9 61.8 60.6 Stock-based compensation 4.6 3.5 5.2 4.7 3.5 3.8 Acquisition costs 5.7 3.8 3.8 (2.8) 1.6 1.8 Restructuring costs 1.7 5.7 19.7 0.9 2.0 1.2 COVID-19 impacts — — — — 3.4 0.8 Adjusted EBITDA (Combined) 157.8$169.1$94.3$38.9$147.5$190.9$ Three Months Ended

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becn.com20 \*Composed of Acquisition and Restructuring costs 2023 GUIDANCE: ADJUSTED EBITDA Reconciliations: Non-GAAP Financial Measures

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