QXO Transforms into Top Distributor of Building Products

By Chris Stiles • Friday, February 27 11:57 • Permanent Link

QXO, Inc. has recently released its 10-K report, revealing a significant shift in its business operations. Formerly a technology solutions and professional services company, QXO, Inc. transitioned to become the largest publicly-traded distributor of roofing, waterproofing, and complementary building products in North America following its acquisition of Beacon Roofing Supply, Inc.

The 10-K report for the year ended December 31, 2025, shows that QXO's net sales skyrocketed to $6.84 billion, a substantial increase from $56.9 million in 2024. This surge in net sales was primarily driven by the Beacon Acquisition, which contributed to the company's transformation into a building products distribution powerhouse.

Furthermore, the report details the breakdown of net sales by line of business, revealing that residential roofing products accounted for $3.31 billion, non-residential roofing products for $1.88 billion, and complementary building products for $1.59 billion. Additionally, software products and services contributed $58.5 million to the total net sales.

The 10-K report also provides a comprehensive analysis of the company's financial performance. It indicates that the cost of products sold increased to $5.27 billion, primarily due to higher costs associated with increased net sales as a result of the Beacon Acquisition. Selling, general and administrative (SG&A) expenses also surged to $1.39 billion, attributed to costs incurred to support the ongoing operations of the business subsequent to the acquisition.

The report further outlines non-GAAP financial measures, including Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income, Adjusted Diluted EPS, Adjusted EBITDA, and Adjusted EBITDA Margin. These measures offer additional insights into QXO's financial results and facilitate analysis of its ongoing business operations.

As a result of these announcements, the company's shares have moved -4.84% on the market, and are now trading at a price of $23.81. Check out the company's full 10-K submission here.

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