QXO, Inc. (NYSE:QXO) reported adjusted earnings per share of $0.11 for the second quarter of 2025, comfortably above analysts’ $0.04 estimate. Revenue reached $1.91 billion, beating the consensus projection of $1.88 billion.
Despite the strong results, the company’s shares slipped 0.14% in pre-market trading following the announcement.
The surge in revenue comes after QXO completed its acquisition of Beacon Roofing Supply on April 29. Last year, revenue for the same quarter was just $14.5 million. The current results reflect Beacon’s operations from April 29 through June 30.
“The integration of Beacon is progressing well, and we’ve identified opportunities that exceed our initial expectations,” said Brad Jacobs, chairman and CEO of QXO. “We’re confident we will at least double legacy Beacon EBITDA organically.”
Adjusted EBITDA for the quarter totaled $204.6 million, with an adjusted EBITDA margin of 10.7%. The company reported an adjusted gross margin of 25.3%, while net loss for the period was $58.5 million, equivalent to a basic and diluted loss per share of $0.15.
During the quarter, QXO raised $4.9 billion in debt and an additional $4.8 billion through a mix of common equity and mandatory convertible preferred shares. The company then reduced its Term Loan Facility by $1.4 billion, leaving a net debt position of roughly $1.2 billion as of June 30.
Residential roofing products accounted for 48.7% of total sales, while non-residential roofing products and complementary building products represented 28.1% and 22.4%, respectively.
QXO continues to pursue its long-term target of $50 billion in annual revenue over the next decade, aiming to achieve growth through a combination of acquisitions and organic expansion initiatives.