QXO Inc. reported a massive jump in second-quarter sales after completing its $10.6 billion purchase of Beacon Roofing Supply in late April, transforming the company into the largest publicly traded distributor of roofing, waterproofing, and related building products in North America.
Revenue for the three months ending June 30 climbed to $1.91 billion from just $14.5 million a year earlier. The company posted a net loss of $58.5 million, wider than the $600,000 loss in last year’s quarter, but adjusted profit — which strips out one-time and non-cash costs — rose to $109.2 million from $1.2 million.
Gross profit jumped to $401.7 million from $5.8 million, while adjusted gross profit reached $482.0 million, up from $5.8 million.
For the first six months of 2025, revenue totaled $1.92 billion, compared with $27.6 million in the first half of last year. The company reported a net loss of $65.9 million for the period, versus a $1.1 million loss a year earlier.
“The integration of Beacon is progressing well, and we’ve identified opportunities that exceed our initial expectations,” chairman and CEO Brad Jacobs said. “We’re confident we will at least double legacy Beacon EBITDA organically. Looking ahead, we see strong momentum in both our acquisition pipeline and organic initiatives, reinforcing our long-term goal of reaching $50 billion in annual revenue within the next decade.”
To finance the Beacon deal, QXO raised $4.9 billion in debt and $4.8 billion in equity and preferred shares during the quarter, then paid $1.4 billion on its term loan. The company ended June with about $1.2 billion in net debt.
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