Qxo, Inc. · NYSE:QXO
Qxo — Investor Presentation (June 2025)
20 slides from Qxo's investor presentation, Jun 26, 2025
Slide 1: Investor presentation June 2025
Investor presentation June 2025
Slide 2: Disclaimer
2 This presentation has been prepared by QXO, Inc . (the "Company" or "QXO") solely for informational purposes and does not constitute or form part of, and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company, nor shall the
Slide 3: Cautionary statement regarding forward-looking statements
3 This presentation contains forward - looking statements. Statements that are not historical facts, including statements about beli efs, expectations, targets or goals, such as statements regarding net sales and EBITDA goals and expected benefits of the proposed acquisition of GMS, Inc. (“GMS”), ar
Slide 4: Cautionary statement regarding forward-looking statements (continued)
4 ▪ Unexpected costs, charges or expenses resulting from the Beacon Acquisition or any future acquisition or difficulties in inte gra ting and operating acquired companies; ▪ The risk that the Company is or becomes highly dependent on the continued leadership of Brad Jacobs as chairman and chief exe
Slide 5: QXO is the largest publicly traded distributor of roofing, waterproofing, and complementary building products
5 QXO is the largest publicly traded distributor of roofing, waterproofing, and complementary building products in the United States. The company plans to become the tech - enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. QXO is
Slide 6: Investment highlights
6 Investment highlights Building products distribution — immense TAM supported by attractive long - term demand drivers 2 Beacon: a smart first move 4 Well - defined plan to at least double legacy Beacon EBITDA organically 5 Extensive opportunity for additional M&A 6 Exemplary track record of creati
Slide 7: Building a $50 billion company — a compelling path to value creation
7 ▪ Address large, highly fragmented industry ▪ Acquire businesses at attractive valuations ‒ Regional targets in roofing, waterproofing, and complementary categories ‒ Transformational opportunities in adjacent verticals ▪ Deploy proven approach to substantially grow earnings of acquired businesses
Slide 8: Building products distribution — large TAM supported by attractive long-term demand drivers
8 ▪ ~$800 billion building products distribution industry 1 ▪ Highly fragmented; ~7,000 distributors across North America ▪ Strong demand drivers ‒ Shortage of ~4 million homes in the U.S. ‒ Significantly aged housing stock (>40 years) requiring R&R (repair & remodeling) ‒ >$2 trillion infrastructur
Slide 9: Highly-experienced management team with strong track record in driving transformations
9 Highly - experienced management team with strong track record in driving transformations Brad Jacobs Chairman and Chief Executive Officer ▪ Founder of five multibillion - dollar public companies, including United Waste, United Rentals, XPO, and XPO spin - offs GXO and RXO ▪ Serves as Executive Cha
Slide 10: Highly-experienced management team (cont'd)
10 Highly - experienced management team with strong track record in driving transformations (cont’d) Sean Smith Chief Accounting and Deputy Chief Financial Officer ▪ Most recently served as corporate controller for Chewy ▪ Previously held key finance positions with XPO Chris Signorello Chief Legal O
Slide 11: We've done this before: track record of successful transformations
11 ▪ Brad Jacobs founded and led three highly successful consolidators ‒ United Waste: Created fifth largest solid waste business in North America ‒ United Rentals: Built world’s largest equipment rental company ‒ XPO: Grew XPO into one of the world’s largest logistics companies ▪ Jacobs has raised
Slide 12: Beacon: Leader in attractive verticals, primed for transformation
12 Complementary ~20% Commercial roofing ~30% Residential roofing ~50% Beacon: Leader in attractive verticals, primed for transformation Diversified net sales mix 1 8,000+ Employees ~600 Branches $9.8 billion FY24 net sales 135,000 SKUs ~1.4 million Annual customer deliveries ~110,000 Customers 7 Ca
Slide 13: Beacon: a smart first move
13 Beacon: a smart first move ▪ Attractive demand drivers for the roofing sector: ~80% driven by non - discretionary repair & remodel activity ▪ Resilient performance through cycles: Beacon generated organic revenue growth in 17 of the 21 years since its 2004 IPO ▪ Limited tariff exposure: Vast majo
Slide 14: We've hit the ground running on the Beacon transformation
14 We’ve hit the ground running on the Beacon transformation Immediate integration and operational uplift ▪ Rebranded to QXO on Day 1, including e - commerce site and mobile app; customer communications executed seamlessly ▪ Redesigned org chart, reducing layers and increasing spans of control, opti
Slide 15: GMS offers an accretive opportunity in a near adjacency
15 GMS offers an accretive opportunity in a near adjacency ▪ On June 18, 2025, we made an offer to acquire 100% of GMS in an all - cash $95.20 per share transaction that values GMS at approximately $5 billion ▪ GMS transaction would enhance scale and accelerate QXO’s position as a market - leading d
Slide 16: Strong alignment between management and shareholders
16 Strong alignment between management and shareholders ▪ The senior management team, including CEO Brad Jacobs, and the board own approximately 36% 1 of QXO’s equity ▪ Meaningful portion of each senior leader’s net worth is tied to QXO ▪ QXO’s executive officer compensation is built on a strict pay
Slide 17: Appendix
17 Appendix
Slide 18: Plan to double EBITDA at legacy Beacon organically: driving above-market growth
18 Pricing ▪ Align salesforce incentive compensation with optimized price parameters ▪ Increase capture rate of indicated price ▪ Leverage data analysis to determine price elasticity by SKU Sales excellence ▪ Recruit additional growth - oriented salespeople, including for national accounts ▪ Strengt
Slide 19: Plan to double EBITDA at legacy Beacon organically: >500 bps margin expansion
19 Procurement ▪ Improve buying power through centralized procurement and inventory management; drive collaborative programs with key vendors to leverage QXO’s scale and market reach Org chart ▪ Optimize organizational chart to increase spans of control and drive agility; fine - tune branch operatin
Slide 20: QXO's adjusted capitalization table
20 As Reported Adjustments 1 As Adjusted 31-Mar-25 (+) (-) 31-Mar-25 Cash and Cash Equivalents 5,082 2,189 (4,682) 2,589 ABL Facility -- 400 (84) 316 Term Loan Facility -- 2,250 (1,400) 850 Notes -- 2,250 -- 2,250 Total Debt -- 3,416 Net Debt (5,082) 827 Fully Diluted Market Capitalization 2,3,4 24,