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Beacon Roofing Supply (BECN) investor relations material
Beacon Roofing Supply Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Entered into a definitive merger agreement with QXO, Inc.; transaction expected to close by end of April 2025, with shareholders to receive $124.35 per share in cash.
QXO completed $11 billion acquisition of Beacon, positioning itself as a leading tech-enabled distributor in the $800 billion building products industry.
Beacon reported Q1 2025 net sales of $1.91 billion, a 0.2% decrease year-over-year, and a net loss of $43.1 million, impacted by $37.7 million in one-time merger costs.
QXO's Q1 2025 revenue was $13.5 million, down 6.4% year-over-year, but net income rose to $8.8 million due to $56.6 million in interest income.
Adjusted EBITDA for Beacon fell to $82.2 million, while QXO's adjusted EBITDA turned negative at $(8.9) million due to higher costs and integration expenses.
Financial highlights
Beacon's net sales: $1,907.8 million in Q1 2025 vs. $1,912.4 million in Q1 2024.
Beacon's adjusted net income: $4.3 million in Q1 2025 vs. $26.6 million in Q1 2024; QXO's net income per share was a loss of $0.03.
Beacon's operating cash flow: $(135.2) million in Q1 2025 vs. $(140.8) million in Q1 2024.
QXO's software product revenue was $3.5 million (flat), service and other revenue $10.0 million (down 8.8%).
QXO ended the quarter with $5.1 billion in cash and equivalents.
Outlook and guidance
Merger with QXO expected to close by end of April 2025; if not completed, company may face significant disruptions and costs.
QXO targets $50 billion in annual revenues within the next decade through acquisitions and organic growth.
No share repurchases anticipated while merger is pending.
- Record Q3 sales and margin gains, with EBITDA at low end of guidance amid robust expansion.BECN
Q3 2024 - Record Q2 sales of $2.67B and 10.4% EBITDA margin, with 6–8% full-year growth projected.BECN
Q2 2024 - Record sales and adjusted EBITDA achieved in 2024, with growth and margin stability expected in 2025.BECN
Q4 2024
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