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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 27, 2025
BEACON ROOFING SUPPLY, INC.
(Exact name of Registrant as Specified in Its Charter)
Delaware001-4249236-4173371
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
505 Huntmar Park Drive, Suite 300, Herndon, VA 20170
(Address of Principal Executive Offices) (Zip Code)
(571) 323-3939
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, $0.01 par valueBECNNASDAQ Global Select Market
Preferred Stock Purchase RightsN/ANASDAQ Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02    Results of Operations and Financial Condition
On February 27, 2025, Beacon Roofing Supply, Inc. (the “Company”) issued a press release providing information regarding financial results for the fourth quarter and full year ended December 31, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
On February 27, 2025, the Company delivered a presentation as part of the webcast for the earnings conference call for the fourth quarter and full year ended December 31, 2024. A copy of the presentation is attached hereto as Exhibit 99.2.
The information in Item 2.02 of this Form 8-K, including Exhibit 99.1 and Exhibit 99.2, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. The information in Item 2.02 of this Form 8-K, including Exhibit 99.1 and Exhibit 99.2, shall not be incorporated by reference into any filing under the Securities Act of 1933, except as shall otherwise be expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits
(d)Exhibits
Exhibit Index
Exhibit
Number

Description
99.1

99.2
104

Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  

BEACON ROOFING SUPPLY, INC.
  

  
  
Date: February 27, 2025

By:/s/ PRITHVI S. GANDHI
 

  
Prithvi S. Gandhi
  

  
Executive Vice President and Chief Financial Officer


Exhibit 99.1
beaconlogoa.jpg
BEACON REPORTS RECORD FOURTH QUARTER AND FULL YEAR NET SALES, STRONG NET INCOME AND HIGHEST ADJUSTED EBITDA IN HISTORY
•Ambition 2025 initiatives delivered growth in a challenging environment with higher sales across all business lines
•Strong execution drove fourth quarter results, with contributions from operational excellence initiatives and newly opened greenfield and acquired branches
•Margin enhancing private label and digital channel achieved record fourth quarter and full year sales and penetration
•Strong fourth quarter cash flow, prudent balance sheet management, and ample liquidity
•Management to provide strategic review, growth drivers and financial targets at Investor Day on March 13th
HERNDON, VA. — (BUSINESS WIRE) — February 27, 2025 — Beacon (Nasdaq: BECN) (the “Company”, “we”, “our”), the leading publicly-traded wholesale distributor specializing in roofing, waterproofing, and related exterior products, announced results today for the fourth quarter and full year ended December 31, 2024 (“2024”).
“Despite the challenging economic environment in 2024, we delivered record fourth quarter and full year sales and our highest fourth quarter Adjusted EBITDA in history,” said Julian Francis, Beacon’s President & CEO. “Since the announcement of our Ambition 2025 plan, we have faced the effects of a global pandemic, near-record levels of inflation, escalating interest rates, and an increasingly challenging housing market. Notwithstanding these headwinds, our Ambition 2025 plan has delivered multiple paths of growth every year and across all of our business lines. We have also continued to meet our targets, including reporting year-over-year net sales growth for the last 16 quarters, highlighting the resilience of our business model. Moreover, our strong balance sheet capacity provided the flexibility to invest in our future growth including continued high levels of growth-oriented capital expenditures and enhancements to our operational capabilities, including sales productivity, working capital management, and our pricing model. This investment supported the opening of 19 greenfield locations and the acquisition of 42 branches, enhancing our customer reach and service. Our achievements to date wouldn’t have been possible without the unwavering focus of the entire Beacon team, and I’m incredibly proud of our team members for delivering high caliber customer service, while expanding sales through our digital platform and private label program.
“In addition, during 2024, we returned $225 million in capital to shareholders through common share repurchases while subsequently reducing debt leverage to our target range as of December 31, 2024. We ended the year with strong fourth quarter cash generation, providing ample ability to deploy capital to both profitable growth and shareholder returns. Looking ahead, our markets are large and attractive, and we are poised to accelerate our successful strategy in 2025 and beyond. Our 8,000 team members stand ready to help our customers build more, and we look forward to leveraging opportunities and enhancing value for all stakeholders.”
Fourth Quarter Financial Highlights
Three Months Ended December 31,Year Ended December 31,
2024202320242023
(Unaudited; $ in millions)
Net sales$2,403.6 $2,299.5 $9,763.2 $9,119.8 
Gross profit$617.5 $592.0 $2,504.8 $2,342.7 
Gross margin %25.7 %25.7 %25.7 %25.7 %
Operating expense$459.7 $428.5 $1,839.4 $1,630.5 
% of net sales19.1 %18.6 %18.9 %17.9 %
Adjusted Operating Expense1
$433.6 $408.5 $1,720.9 $1,538.1 
% of net sales1
18.0 %17.8 %17.6 %16.9 %
Net income (loss)$83.6 $95.1 $361.7 $435.0 
% of net sales3.5 %4.1 %3.7 %4.8 %
Adjusted Net Income (Loss)1
$104.2 $111.2 $456.1 $507.9 
% of net sales1
4.3 %4.8 %4.7 %5.6 %
Adjusted EBITDA1
$222.5 $216.7 $930.2 $929.6 
% of net sales1
9.3 %9.4 %9.5 %10.2 %
1.Please see the included financial tables for a reconciliation of “Adjusted” non-GAAP financial measures to the most directly comparable GAAP financial measure, as well as further detail on the components driving the net changes over the comparative periods.
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Fourth Quarter
Net sales increased to $2.40 billion, 4.5% (2.8% on a per-day basis) growth compared to the prior year, and a Company record for fourth quarter net sales. Weighted-average selling price increased approximately 1-2%, while estimated organic volumes, including greenfields, decreased approximately 1-2% (3-4% on a per-day basis). Additionally, acquired branches contributed approximately 5.0% to the increase in fourth quarter net sales.
Residential roofing product sales increased 0.8% (decreased 0.8% on a per-day basis), non-residential roofing product sales increased 5.5% (3.8% on a per-day basis), and complementary product sales increased 11.7% (9.9% on a per-day basis) compared to the prior year. The increase in residential roofing product sales was primarily due to price execution. The increase in non-residential roofing product sales was primarily due to higher volumes driven by solid market execution driving above market growth. The increase in complementary product sales was largely due to two waterproofing acquisitions totaling 15 branches since December 31, 2023. The three-month periods ended December 31, 2024 and 2023 had 62 and 61 business days, respectively.
Gross margin of 25.7% remained unchanged from the prior year as higher average selling prices for our products were offset by higher product costs and a modestly higher non-residential product mix. The increases in operating expense and Adjusted Operating Expense were attributable to acquired branches, as well as higher organic selling, general, and administrative (“SG&A”) expense, including for greenfields. Acquired branches and greenfields contributed $22.8 million and $7.4 million, respectively, to the increase in SG&A expense. Organic SG&A expense, including greenfields, increased $1.6 million primarily due to an increase in warehouse operating costs, partially offset by a decrease in payroll and employee benefit costs. The increase in warehouse operating costs was primarily due to an increase in rent expense across our existing locations coupled with greenfields opened during the year, which contributed $2.5 million to the increase. The decrease in payroll and employee benefit costs was due to a reduction in headcount in response to market conditions at the end of the third quarter of 2024 resulting in a lower average number of employees during the fourth quarter of 2024. Organic SG&A expense also includes an increase in one-time acquisition and restructuring costs of $2.8 million. Excluding the increase in one-time acquisition and restructuring costs, organic SG&A expense decreased $1.2 million. Both operating expense as a percent of net sales and Adjusted Operating Expense as a percent of net sales were higher in 2024, primarily driven by the same factors.
Net income (loss) was $83.6 million, compared to $95.1 million in the prior year. Adjusted EBITDA was $222.5 million, compared to $216.7 million in the prior year. Net income (loss) per common share (“EPS”) on a diluted basis was $1.32, compared to $1.47 in the prior year. Fourth quarter results compared to the prior year period were largely driven by higher operating expense, partially offset by higher net sales discussed above.
Year ended December 31, 2024
Net sales increased to $9.76 billion, 7.1% (6.2% on a per-day basis) growth compared to the prior year, a Company record. Estimated organic volumes, including greenfields, increased approximately 1-2% (0-1% on a per-day basis) and weighted-average selling price increased approximately 1-2%. Additionally, acquired branches contributed approximately 4.6% to the increase in net sales.
Residential roofing product sales increased 3.9% (3.1% on per-day basis), non-residential roofing product sales increased 11.6% (10.7% on a per-day basis), and complementary product sales increased 8.9% (8.0% on per-day basis) compared to the prior year. The increase in residential roofing product sales was primarily due to price execution. The increase in non-residential roofing product sales was primarily due to higher volumes driven by the impact of customer destocking in the prior year period and, to a lesser extent, solid market execution driving above market growth. The increase in complementary product sales was largely due to two waterproofing acquisitions totaling 15 branches since December 31, 2023. The years ended December 31, 2024 and 2023 had 254 and 252 business days, respectively.
Gross margin of 25.7% remained unchanged from the prior year as higher average selling prices for our products were offset by higher product costs and a modestly higher non-residential product mix. The increases in operating expense and Adjusted Operating Expense were attributable to acquired branches, as well as higher organic SG&A expense. Acquired branches and greenfields contributed $75.8 million and $34.0 million, respectively, to the increase in SG&A expense. Organic SG&A expense increased $107.5 million primarily due to higher payroll and employee benefit costs, warehouse operating costs, and general and administrative expenses. The increase in payroll and employee benefit costs was due to higher average headcount during the year and, to a lesser extent, one-time severance payments and employee benefit costs for employees impacted by our operating cost reduction initiative executed at the end of the third quarter 2024. While our cost reduction initiative resulted in a one-time increase to SG&A expense in 2024, these actions are expected to yield annualized cost savings of $45 million, approximately $30 million of which will be realized in 2025. The increase in warehouse operating costs was primarily due to an increase in rent expense across our existing locations coupled with greenfields opened during the year, which contributed $10.2 million to the increase. The increase in general and administrative expenses was primarily due to an increase in acquisition-related costs of $5.1 million, costs attributable to greenfields of $2.7 million, and higher professional fees. Organic SG&A expense also includes an increase in one-time
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acquisition and restructuring costs of $19.2 million. Excluding the increase in one-time acquisition and restructuring costs, organic SG&A expense increased $88.3 million. Both operating expense as a percent of net sales and Adjusted Operating Expense as a percent of net sales were higher in 2024, primarily driven by the same factors.
Net income (loss) was $361.7 million, compared to $435.0 million in the prior year. Adjusted EBITDA was $930.2 million, compared to $929.6 million in the prior year. Diluted EPS was $5.68, compared to $(0.43) in the prior year. The negative diluted EPS in the prior year was attributable to the $414.6 million Repurchase Premium recognized in connection with the Preferred Stock repurchase, which is included as a component of net income (loss) attributable to common stockholders in calculating EPS. Full year results compared to the prior year were largely driven by higher operating expense, partially offset by higher net sales discussed above.
On May 9, 2024, the Company entered into an accelerated share repurchase (“ASR”) agreement to repurchase $225.0 million of its common stock. During the second quarter of 2024, the Company repurchased and retired 1,927,608 shares of its common stock representing 80% of the total expected share repurchases under the ASR. On December 27, 2024, the Company completed the ASR and received an additional 497,654 shares of its common stock. In total, 2,425,262 shares of the Company’s common stock were delivered under the ASR. As a result, shares of common stock outstanding decreased to 61.5 million as of December 31, 2024, from 63.3 million as of December 31, 2023.
To calculate approximate weighted average selling price and product cost changes, we review organic U.S. warehouse sales of the same items sold regionally period over period and normalize the data for non-representative outliers. To calculate estimated volumes, we subtract the change in weighted average selling price, as described above, from the total changes in sales, excluding acquisitions and dispositions. As a result, and especially in high inflationary periods, the weighted average selling price and estimated volume changes may not be directly comparable to changes reported in prior periods.
Please see the included financial tables for a reconciliation of “Adjusted” non-GAAP financial measures to the most directly comparable GAAP financial measure, as well as further detail on the components driving the net changes over the comparative periods.
Earnings Call
The Company will host a conference call and webcast today at 8:30 a.m. ET to discuss these results. Details for the earnings release event are as follows:
What:
Beacon Fourth Quarter and Full Year 2024 Earnings Call
When:
Thursday, February 27, 2025
Time:
8:30 a.m. ET
Access:Register for the conference call or webcast by visiting:
 Beacon Investor Relations – Events & Presentations
Upon registration, participants will receive an email containing event details and unique access codes. To ensure timely access, participants should register for the earnings call at least 10 minutes before the 8:30 a.m. ET start time. An archived copy of the webcast will be available on the Events & Presentations page shortly after the call.
Investor Day
As previously disclosed, the Company will host an Investor Day in New York City on Thursday, March 13, 2025. Beacon’s President and CEO Julian Francis, CFO Prithvi Gandhi, and other members of the senior leadership team will provide an in-depth review of Beacon’s strategy, growth drivers, and financial objectives. The event will include formal presentations, along with multiple Q&A sessions with senior leadership. Due to space limitations, the number of in-person participants is limited, and registration is required.
Forward-Looking Statements
This release contains information about management’s view of the Company’s future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. These statements include, but are not limited to: statements related to the views of the Company and expectations regarding the unsolicited tender offer (the “Offer”) from QXO, Inc. (“QXO”); any statements relating to the plans, strategies and objectives of management or the Company’s board of directors for future operations and activities; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on the Company and its financial performance; and any statements of assumptions underlying any of the foregoing. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and often use words such as “anticipate,” “estimate,” “expect,” “believe,” “will likely result,” “outlook,” “project” and
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other words and expressions of similar meaning. Investors are cautioned not to place undue reliance on forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the “Risk Factors” section of the Company’s Form 10-K for the fiscal year ended December 31, 2023 and subsequent filings with the U.S. Securities and Exchange Commission. In addition, actual results may differ materially from those indicated in any forward-looking statements as the result of: factors relating to the Offer, including actions taken by QXO in connection with the Offer, actions taken by the Company or its stockholders in respect of the Offer, and the effects of the Offer, or the completion or failure to complete the Offer, on the Company’s businesses, or other developments involving QXO; product shortages; changes in supplier pricing and rebates; inability to identify acquisition targets or close acquisitions; difficulty integrating acquired businesses; inability to identify new markets or successfully open new locations; catastrophic safety incidents; cyclicality, seasonality and weather; IT failures or interruptions, including as a result of cybersecurity incidents; goodwill or intangible asset impairments; disruptions in the capital and credit markets; debt leverage; loss of key talent; labor disputes; and regulatory risks. The Company may not succeed in addressing these and other risks. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties referenced above and readers are cautioned not to place undue reliance on forward-looking statements. In addition, the forward-looking statements included in this release represent the Company’s views as of the date of this release and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this release.
About Beacon
Founded in 1928, Beacon is a publicly-traded Fortune 500 company that distributes specialty building products, including roofing materials and complementary products, such as siding and waterproofing. The Company operates over 580 branches throughout all 50 states in the U.S. and seven provinces in Canada. Beacon serves an extensive base of approximately 110,000 customers, utilizing its vast branch network and service capabilities to provide high-quality products and support throughout the entire project lifecycle. Beacon offers its own private label brand, TRI-BUILT®, and has a proprietary digital account management suite, Beacon PRO+®, which allows customers to manage their businesses online. Beacon’s stock is traded on the Nasdaq Global Select Market under the ticker symbol BECN. To learn more about Beacon, please visit www.becn.com.
INVESTOR CONTACTMEDIA CONTACT
Binit SanghviJennifer Lewis
VP, Capital Markets and TreasurerVP, Communications and Corporate Social Responsibility
Binit.Sanghvi@becn.comJennifer.Lewis@becn.com
972-369-8005571-752-1048
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BEACON ROOFING SUPPLY, INC.
Consolidated Statements of Operations
(In millions, except per share amounts)
Three Months Ended December 31,Year Ended December 31,
2024% of
Net Sales		2023% of
Net Sales		2024% of
Net Sales		2023% of
Net Sales
(Unaudited)
Net sales$2,403.6 100.0 %$2,299.5 100.0 %$9,763.2 100.0 %$9,119.8 100.0 %
Cost of products sold1,786.1 74.3 %1,707.5 74.3 %7,258.4 74.3 %6,777.1 74.3 %
Gross profit617.5 25.7 %592.0 25.7 %2,504.8 25.7 %2,342.7 25.7 %
Operating expense:
Selling, general and administrative407.4 16.9 %383.0 16.7 %1,637.6 16.8 %1,454.3 15.9 %
Depreciation29.1 1.2 %25.6 1.0 %109.9 1.1 %91.2 1.1 %
Amortization23.2 1.0 %19.9 0.9 %91.9 1.0 %85.0 0.9 %
Total operating expense459.7 19.1 %428.5 18.6 %1,839.4 18.9 %1,630.5 17.9 %
Income (loss) from operations157.8 6.6 %163.5 7.1 %665.4 6.8 %712.2 7.8 %
Interest expense, financing costs and other, net44.6 1.9 %37.1 1.6 %177.3 1.8 %126.1 1.4 %
Loss on debt extinguishment— — %— — %2.4 0.0 %— — %
Income (loss) before provision for income taxes113.2 4.7 %126.4 5.5 %485.7 5.0 %586.1 6.4 %
Provision for (benefit from) income taxes29.6 1.2 %31.3 1.4 %124.0 1.3 %151.1 1.6 %
Net income (loss)$83.6 3.5 %$95.1 4.1 %$361.7 3.7 %$435.0 4.8 %
Reconciliation of net income (loss) to net income (loss) attributable to common stockholders:
Net income (loss)$83.6 3.5 %$95.1 4.1 %$361.7 3.7 %$435.0 4.8 %
Dividends on Preferred Stock— — %— — %— — %(13.9)(0.2)%
Undistributed income allocated to participating securities— — %— — %— — %(34.1)(0.4)%
Repurchase Premium— — %— — %— — %(414.6)(4.5)%
Net income (loss) attributable to common stockholders$83.6 3.5 %$95.1 4.1 %$361.7 3.7 %$(27.6)(0.3)%
Weighted-average common shares outstanding:
Basic62.0 63.4 62.5 63.7 
Diluted63.2 64.8 63.7 63.7 
Net income (loss) per common share:
Basic$1.35 $1.50 $5.78 $(0.43)
Diluted$1.32 $1.47 $5.68 $(0.43)

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BEACON ROOFING SUPPLY, INC.
Consolidated Balance Sheets
(In millions)
December 31,December 31,
20242023
Assets
Current assets:
Cash and cash equivalents$74.3 $84.0 
Accounts receivable, net1,196.1 1,140.2 
Inventories, net1,407.7 1,227.9 
Prepaid expenses and other current assets501.7 444.6 
Total current assets3,179.8 2,896.7 
Property and equipment, net545.7 436.4 
Goodwill2,094.7 1,952.6 
Intangibles, net489.1 403.5 
Operating lease right-of-use assets, net626.8 503.6 
Deferred income taxes, net— 2.1 
Other assets, net17.5 12.8 
Total assets$6,953.6 $6,207.7 
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable$938.0 $942.8 
Accrued expenses522.4 498.6 
Current portion of operating lease liabilities101.2 89.7 
Current portion of finance lease liabilities38.9 26.2 
Current portion of long-term debt12.8 10.0 
Total current liabilities1,613.3 1,567.3 
Borrowings under revolving lines of credit, net148.1 80.0 
Long-term debt, net2,481.2 2,192.3 
Deferred income taxes, net37.0 20.1 
Other long-term liabilities1.9 0.5 
Operating lease liabilities544.7 423.7 
Finance lease liabilities134.9 100.3 
Total liabilities4,961.1 4,384.2 
Convertible Preferred Stock— — 
Stockholders' equity:
Common stock0.6 0.6 
Undesignated preferred stock— — 
Additional paid-in capital1,264.4 1,218.4 
Retained earnings753.7 618.8 
Accumulated other comprehensive income (loss)(26.2)(14.3)
Total stockholders' equity1,992.5 1,823.5 
Total liabilities and stockholders' equity$6,953.6 $6,207.7 
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BEACON ROOFING SUPPLY, INC.
Consolidated Statements of Cash Flows
(In millions)
Year Ended December 31,
20242023
Operating Activities
Net income (loss)$361.7 $435.0 
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization201.8 176.2 
Stock-based compensation31.0 28.0 
Certain interest expense and other financing costs3.9 2.2 
Loss on debt extinguishment2.4 — 
Gain on sale of fixed assets and other(7.5)(15.6)
Deferred income taxes17.2 27.3 
Changes in operating assets and liabilities:
Accounts receivable15.4 (104.7)
Inventories(114.5)129.1 
Prepaid expenses and other current assets(56.0)(27.5)
Accounts payable and accrued expenses(43.2)141.6 
Other assets and liabilities7.2 (3.8)
Net cash provided by (used in) operating activities419.4 787.8 
Investing Activities
Capital expenditures(126.6)(122.9)
Acquisition of business, net(420.5)(119.0)
Proceeds from sale of assets7.9 17.5 
Purchases of investments(1.3)(1.2)
Net cash provided by (used in) investing activities(540.5)(225.6)
Financing Activities
Borrowings under revolving lines of credit2,881.7 2,374.2 
Payments under revolving lines of credit(2,815.1)(2,550.7)
Borrowings under term loan300.0 — 
Payments under term loan(12.8)(10.0)
Borrowings under senior notes— 600.0 
Payment of debt issuance costs(0.2)(8.0)
Payments under equipment financing facilities and finance leases(30.7)(21.2)
Repurchase of convertible Preferred Stock— (805.7)
Payment of fees for the repurchase of convertible Preferred Stock(0.1)— 
Repurchase and retirement of common stock, net(225.0)(110.9)
Payment of dividends on Preferred Stock— (18.9)
Proceeds from disgorgement of short-swing profits1
— 5.9 
Proceeds from employee stock purchase plan13.2 — 
Proceeds from issuance of common stock related to equity awards9.4 12.7 
Payment of taxes related to net share settlement of equity awards(7.6)(13.8)
Net cash provided by (used in) financing activities112.8 (546.4)
Effect of exchange rate changes on cash and cash equivalents(1.4)0.5 
Net increase (decrease) in cash and cash equivalents(9.7)16.3 
Cash and cash equivalents, beginning of period84.0 67.7 
Cash and cash equivalents, end of period$74.3 $84.0 
Supplemental Cash Flow Information
Cash paid during the period for:
Interest$177.8 $111.3 
Income taxes, net of refunds$110.6 $120.6 
1.During the year ended December 31, 2023, the Company received payments of $5.9 million from a shareholder related to short-swing trading profits disgorged pursuant to Section 16(b) of the Securities Exchange Act of 1934. The payments were recorded to additional paid-in capital on the consolidated balance sheets.
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BEACON ROOFING SUPPLY, INC.
Consolidated Sales by Line of Business
(Unaudited; in millions)
Sales by Line of Business
Three Months Ended December 31,Year-over-Year Change
20242023
Net SalesMix %Net SalesMix %$%
Residential roofing products$1,172.3 48.8 %$1,162.8 50.6 %$9.5 0.8 %
Non-residential roofing products661.4 27.5 %626.7 27.2 %34.7 5.5 %
Complementary building products569.9 23.7 %510.0 22.2 %59.9 11.7 %
$2,403.6 100.0 %$2,299.5 100.0 %$104.1 4.5 %
Sales by Business Day1,2
Three Months Ended December 31,Year-over-Year Change
20242023
Net SalesMix %Net SalesMix %$%
Residential roofing products$18.9 48.8 %$19.1 50.6 %$(0.2)(0.8)%
Non-residential roofing products10.7 27.5 %10.3 27.2 %0.4 3.8 %
Complementary building products9.2 23.7 %8.3 22.2 %0.9 9.9 %
$38.8 100.0 %$37.7 100.0 %$1.1 2.8 %
1.The three-month periods ended December 31, 2024 and 2023 had 62 and 61 business days, respectively.
2.Dollar and percentage changes may not recalculate due to rounding.

Sales by Line of Business
Year Ended December 31,Year-over-Year Change
20242023
Net SalesMix %Net SalesMix %$%
Residential roofing products$4,833.5 49.5 %$4,652.0 51.0 %$181.5 3.9 %
Non-residential roofing products2,674.1 27.4 %2,395.7 26.3 %278.4 11.6 %
Complementary building products2,255.6 23.1 %2,072.1 22.7 %183.5 8.9 %
$9,763.2 100.0 %$9,119.8 100.0 %$643.4 7.1 %
Sales by Business Day1,2
Year Ended December 31,Year-over-Year Change
20242023
Net SalesMix %Net SalesMix %$%
Residential roofing products$19.0 49.5 %$18.5 51.0 %$0.5 3.1 %
Non-residential roofing products10.5 27.4 %9.5 26.3 %1.0 10.7 %
Complementary building products8.9 23.1 %8.2 22.7 %0.7 8.0 %
$38.4 100.0 %$36.2 100.0 %$2.2 6.2 %
1.The years ended December 31, 2024 and 2023 had 254 and 252 business days, respectively.
2.Dollar and percentage changes may not recalculate due to rounding.
-8-

BEACON ROOFING SUPPLY, INC.
Non-GAAP Financial Measures
(Unaudited; in millions)
Non-GAAP Financial Measures
To provide investors with additional information regarding our financial results, we prepare certain financial measures that are not calculated in accordance with GAAP, specifically:
•Adjusted Operating Expense. We define Adjusted Operating Expense as operating expense, excluding the impact of the adjusting items (as described below).
•Adjusted Net Income (Loss). We define Adjusted Net Income (Loss) as net income (loss), excluding the impact of the adjusting items (as described below).
•Adjusted EBITDA. We define Adjusted EBITDA as net income (loss), excluding the impact of interest expense (net of interest income), income taxes, depreciation and amortization, stock-based compensation, and the adjusting items (as described below).
We use these supplemental non-GAAP measures to evaluate financial performance, analyze the underlying trends in our business and establish operational goals and forecasts that are used when allocating resources. We expect to compute our non-GAAP financial measures consistently using the same methods each period.
We believe these non-GAAP measures are useful measures because they permit investors to better understand changes over comparative periods by providing financial results that are unaffected by certain items that are not indicative of ongoing operating performance.
While we believe that these non-GAAP measures are useful to investors when evaluating our business, they are not prepared and presented in accordance with GAAP, and therefore should be considered supplemental in nature. These non-GAAP measures should not be considered in isolation or as a substitute for other financial performance measures presented in accordance with GAAP. These non-GAAP financial measures may have material limitations including, but not limited to, the exclusion of certain costs without a corresponding reduction of net income for the income generated by the assets to which the excluded costs relate. In addition, these non-GAAP financial measures may differ from similarly titled measures presented by other companies.
-9-

BEACON ROOFING SUPPLY, INC.
Non-GAAP Financial Measures (continued)
(Unaudited; in millions)
Adjusting Items to Non-GAAP Financial Measures
The impact of the following expense (income) items is excluded from each of our non-GAAP measures (the “adjusting items”):
•Acquisition costs. Represent certain direct and incremental costs related to acquisitions, including: amortization of intangible assets; professional fees, branch integration expenses, travel expenses, employee severance and retention costs, and other personnel expenses classified as selling, general and administrative; gains/losses related to changes in fair value of contingent consideration or holdback liabilities; and amortization of debt issuance costs. Acquisition costs are impacted by the timing and size of the acquisitions. We exclude acquisition costs from our non-GAAP financial measures to provide a useful comparison of our operating results to prior periods and to our peer companies because such amounts vary significantly based on the magnitude of the acquisition and do not reflect our core operations.
•Restructuring costs. Represent costs stemming from headcount rationalization efforts and certain rebranding costs; impact of divestitures; costs related to changing our fiscal year end; amortization of debt issuance costs; debt refinancing and extinguishment costs; abandoned lease costs; and costs associated with responding to unsolicited acquisition proposals and attempts to acquire control of the Company. We exclude restructuring costs from our non-GAAP financial measures, as such items vary significantly based on the magnitude of the restructuring activity and also do not reflect expected future operating expenses. Additionally, these costs do not necessarily provide meaningful insight into the current or past core operations of our business.
The following table presents the pre-tax impact of the adjusting items on our consolidated statements of operations for each of the periods indicated:
Operating ExpenseNon-Operating Expense
SG&A
AmortizationInterest ExpenseOther (Income) ExpenseTotal
Three Months Ended December 31, 2024
Acquisition costs$1.2 $23.2 $1.0 $— $25.4 
Restructuring costs1.7 — 0.6 — 2.3 
Total adjusting items$2.9 $23.2 $1.6 $— $27.7 
Three Months Ended December 31, 2023
Acquisition costs$1.6 $19.9 $1.1 $— $22.6 
Restructuring costs(1.5)— 0.5 — (1.0)
Total adjusting items$0.1 $19.9 $1.6 $— $21.6 
Year Ended December 31, 2024
Acquisition costs$12.0 $91.9 $3.9 $— $107.8 
Restructuring costs1
14.6 — 2.2 2.4 19.2 
Total adjusting items$26.6 $91.9 $6.1 $2.4 $127.0 
Year Ended December 31, 2023
Acquisition costs$6.9 $85.0 $4.1 $— $96.0 
Restructuring costs0.5 — 1.5 — 2.0 
Total adjusting items$7.4 $85.0 $5.6 $— $98.0 
1.Other (income) expense for the year ended December 31, 2024 consists of a loss on debt extinguishment of $2.4 million as a result of the refinancing of our 2028 Term Loan.
-10-

BEACON ROOFING SUPPLY, INC.
Non-GAAP Financial Measures (continued)
(Unaudited; in millions)
Adjusted Operating Expense
The following table presents a reconciliation of operating expense, the most directly comparable financial measure as measured in accordance with GAAP, to Adjusted Operating Expense for each of the periods indicated:
Three Months Ended December 31,Year Ended December 31,
2024202320242023
Operating expense$459.7 $428.5 $1,839.4 $1,630.5 
Acquisition costs(24.4)(21.5)(103.9)(91.9)
Restructuring costs(1.7)1.5 (14.6)(0.5)
Adjusted Operating Expense$433.6 $408.5 $1,720.9 $1,538.1 
Net sales$2,403.6 $2,299.5 $9,763.2 $9,119.8 
Operating expense as % of net sales19.1 %18.6 %18.9 %17.9 %
Adjusted Operating Expense as % of net sales18.0 %17.8 %17.6 %16.9 %


Adjusted Net Income (Loss)
The following table presents a reconciliation of net income (loss), the most directly comparable financial measure as measured in accordance with GAAP, to Adjusted Net Income (Loss) for each of the periods indicated:
Three Months Ended December 31,Year Ended December 31,
2024202320242023
Net income (loss)$83.6 $95.1 $361.7 $435.0 
Adjusting items:
Acquisition costs25.4 22.6 107.8 96.0 
Restructuring costs2.3 (1.0)19.2 2.0 
Total adjusting items27.7 21.6 127.0 98.0 
Less: tax impact of adjusting items1
(7.1)(5.5)(32.6)(25.1)
Total adjustments, net of tax20.6 16.1 94.4 72.9 
Adjusted Net Income (Loss)$104.2 $111.2 $456.1 $507.9 
Net sales$2,403.6 $2,299.5 $9,763.2 $9,119.8 
Net income (loss) as % net of sales3.5 %4.1 %3.7 %4.8 %
Adjusted Net Income (Loss) as % net of sales4.3 %4.8 %4.7 %5.6 %
1.Amounts represent the tax impact of adjustments that are not included in our income tax provision (benefit) for the periods presented. The tax impact of adjustments for the three months ended December 31, 2024 and 2023 were calculated using a blended effective tax rate of 25.6% and 25.5%, respectively. The tax impact of adjustments for the year ended December 31, 2024 and 2023 were calculated using a blended effective tax rate of 25.7% and 25.6%, respectively.

-11-

BEACON ROOFING SUPPLY, INC.
Non-GAAP Financial Measures (continued)
(Unaudited; in millions)
Adjusted EBITDA
The following table presents a reconciliation of net income (loss), the most directly comparable financial measure as measured in accordance with GAAP, to Adjusted EBITDA for each of the periods indicated:
Three Months Ended December 31,Year Ended December 31,
2024202320242023
Net income (loss)$83.6 $95.1 $361.7 $435.0 
Interest expense, net46.4 38.9 182.7 131.9 
Income taxes29.6 31.3 124.0 151.1 
Depreciation and amortization52.3 45.5 201.8 176.2 
Stock-based compensation7.7 5.8 31.0 28.0 
Acquisition costs1
1.2 1.6 12.0 6.9 
Restructuring costs1
1.7 (1.5)17.0 0.5 
Adjusted EBITDA$222.5 $216.7 $930.2 $929.6 
Net sales$2,403.6 $2,299.5 $9,763.2 $9,119.8 
Net income (loss) as % of net sales3.5 %4.1 %3.7 %4.8 %
Adjusted EBITDA as % of net sales9.3 %9.4 %9.5 %10.2 %
1.Amounts represent adjusting items included in SG&A expense and other (income) expense; remaining adjusting item balances are embedded within the other line item balances reported in this table.
-12-
February 27, 2025 2024 Q4 & FULL YEAR 2024 EARNINGS PRESENTATION Exhibit 99.2

 
becn.com2 Disclosure Notice This presentation contains information about management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. In addition, oral statements made by our directors, officers and employees to the investor and analyst communities, media representatives and others, depending upon their nature, may also constitute forward-looking statements. These statements include, but are not limited to: statements related to the views of the Company and expectations regarding the unsolicited tender offer (the “Offer”) from QXO, Inc. (“QXO”); any statements relating to the plans, strategies and objectives of management or the Company’s board of directors for future operations and activities; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on the Company and its financial performance; and any statements of assumptions underlying any of the foregoing. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and often use words such as “anticipate,” “estimate,” “expect,” “believe,” “will likely result,” “outlook,” “project” and other words and expressions of similar meaning. Investors are cautioned not to place undue reliance on forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, those set forth in the "Risk Factors" section of the Company's Form 10-K for the fiscal year ended December 31, 2023 and subsequent filings with the U.S. Securities and Exchange Commission. In addition, actual results may differ materially from those indicated in any forward-looking statements as the result of: factors relating to the Offer, including actions taken by QXO in connection with the Offer, actions taken by the Company or its stockholders in respect of the Offer, and the effects of the Offer, or the completion or failure to complete the Offer, on the Company’s businesses, or other developments involving QXO; product shortages; changes in supplier pricing and rebates; inability to identify acquisition targets or close acquisitions; difficulty integrating acquired businesses; inability to identify new markets or successfully open new locations; catastrophic safety incidents; cyclicality, seasonality and weather; IT failures or interruptions, including as a result of cybersecurity incidents; goodwill or intangible asset impairments; disruptions in the capital and credit markets; debt leverage; loss of key talent; labor disputes; and regulatory risks. The Company may not succeed in addressing these and other risks. Consequently, all forward-looking statements in this presentation are qualified by the factors, risks and uncertainties referenced above. In addition, the forward-looking statements included in this presentation represent the Company's views as of the date of this presentation and these views could change. However, while the Company may elect to update these forward-looking statements at some point, the Company specifically disclaims any obligation to do so, other than as required by federal securities laws. These forward- looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this presentation. This presentation contains references to certain financial measures that are not presented in accordance with United States Generally Accepted Accounting Principles (“GAAP"). The Company uses non-GAAP financial measures to evaluate financial performance, analyze underlying business trends and establish operational goals and forecasts that are used when allocating resources. The Company believes these non-GAAP financial measures permit investors to better understand changes over comparative periods by providing financial results that are unaffected by certain items that are not indicative of ongoing operating performance. While the Company believes these measures are useful to investors when evaluating performance, they are not prepared and presented in accordance with GAAP, and therefore should be considered supplemental in nature. The Company’s non-GAAP financial measures should not be considered in isolation or as a substitute for other financial performance measures presented in accordance with GAAP. These non-GAAP financial measures may have material limitations including, but not limited to, the exclusion of certain costs without a corresponding reduction of net income for the income generated by the assets to which the excluded costs relate. In addition, these non-GAAP financial measures may differ from similarly titled measures presented by other companies. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure can be found in the Appendix as well as the Company’s latest Form 8-K, filed with the SEC on February 27, 2025.

 
becn.com3 PRESIDENT & CHIEF EXECUTIVE OFFICER JULIAN FRANCIS

 
becn.com CEO Perspective *Year over year growth percentages adjusted for differences in selling days **Non-GAAP measure; see Appendix for definition and reconciliation Notes: Percentages within the Net Income ($M) and Adjusted EBITDA** ($M) bar charts represent each metric as a % of net sales. All quarterly information and comparisons reflect Continuing Operations 2.5%1.4% 4 8.3%5.6%1.8% +1.1%+28.0%+11.8%+2.0% 20 26.0 +6.2% 6.1% 6.9% 8.4 12.3 13.0 7.4% 8.3% 13.0% 11.6%13.0% 11.6% +6.9% +28.8% +7.0% +6.9% +28.8% +7.0% +11.3% +14.1 16.8 6.4% 6.2% 7.2 7.0% 9.1% 9.4% 9.1% 9.4% 3.7% 4.1 4.7% 4.8 +28.0 +1.1% +10.4 1.4% 0.3% .5% 1.4% 6.5 5.4%1.6% 10.4% +26.0% +6.2% +6.8% 6.1% 6.9%4.8% 5.5 Record fourth quarter sales • Ambition 2025 initiatives drove growth • Steep seasonal slowdown in back half of the fourth quarter • Repair & reroofing activity remained healthy • Storm related demand in the SE • Positive average selling prices YoY Solid net income, record Adjusted EBITDA** & cash flow • Gross margin at high end of guidance • Prior cost actions contributed to strong productivity improvements • Continued focus on bottom quintile branch initiative Capital allocation balancing growth & returns • Investing in both organic growth and acquisitions • Completed accelerated share repurchase during the quarter • Returned to target leverage range, ample capacity to invest +28.8% +8.7% +5.6% .3 5.2% 7.0% 6.4% $1,755 $1,969 $2,300 $2,404 Q4'21 Q4'22 Q4'23 Q4'24 Net Sales ($M) / YoY (%)* +14.1% +16.8% +2.8% $95 $111 $84 $104 GAAP Adj. NI** Net Income ($M) Q4'23 Q4'24 4.1 3 5 .8 .3 $217 $223 Q4'23 Q4'24 Adjusted EBITDA** ($M) 9.4% 9.3%

 
becn.com5 • Reduced sprains and strains incurred by first year employees by 60% YoY • In 2024, achieved lowest ever OSHA total case rate in company history • Employee pulse survey shows nearly 80% would recommend Beacon as a place to work Executing on Ambition 2025 Initiatives Delivering the goals of Ambition 2025 DRIVING OPERATIONAL EXCELLENCE BUILDING A WINNING CULTURE DRIVING ABOVE MARKET GROWTH CREATING SHAREHOLDER VALUE • Bottom quintile branch initiative contributed more than $7M to bottom-line in Q4 YoY • Recent cost actions & productivity initiatives led to highest Q4 sales / hour since tracking began • Acquisitions from the class of ‘22 delivered accretive margins in 2024 • Greenfields class of ‘22 contributed ~$22M to the bottom-line in 2024 • Digital sales grew 20% YoY, total adoption of ~16% led by residential customers & value-added integrations • Record private label sales driven by recent launch of our TRI-BUILT® commercial insulation product • Solid net income and record Q4 net sales and Adjusted EBITDA* • Completed accelerated share repurchase in the amount of $225M retiring 2.4M shares in 2024 • Reduced “as converted” share count** by more than 23% since launch of Ambition 2025 *Non-GAAP measure; see Appendix for definition and reconciliation **Inclusive of preferred stock repurchase and net of equity plan issuances

 
becn.com6 EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER PRITH GANDHI

 
becn.com7 Q4 2024 Sales and Mix Net sales per day up 2.8%* YoY • Sharpest seasonal slowdown in several years • Average selling prices higher LSD% YoY • Acquisitions added ~5% to the top line Residential sales per day down 0.8%* YoY • Prices up LSD% YoY, good execution on August price • Shingle volumes decreased vs. strong Q4’23 comparable • Single family new construction demand remains subdued Non-residential sales per day up 3.8%* YoY • Acquired branches drove growth • Price down LSD% YoY • Executing on above market growth initiatives Complementary sales per day up 9.9%* YoY • Acquisitions drove growth vs. strong prior year quarter • Prices stable YoY +1.1% *Percentages adjusted for additional selling day in Q4’24 as compared to Q4’23 $2,300 $2,404 Q4'23 Q4'24 Net Sales ($M) / YoY (%)* +2.8% 49% 27% 24% Net Sales Mix Residential Non-residential Complementary $1,163 $627 $510 $1,172 $661 $570 Residential Non-residential Complementary Net Sales by Line of Business ($M)* Q4'23 Q4'24 -0.8% +3.8% +9.9%

 
becn.com8 *Non-GAAP measure; see Appendix for definition and reconciliation Note: Percentages within the bar charts represent each metric as a % of net sales. Q4 2024 Margin and Expense Gross margin in-line with prior year period • Price cost ~10 bps favorable YoY, better than expected • Higher digital sales and record private label sales YoY • Offset by higher non-res sales mix & acquired branches yet to be synergized Adj. OpEx* increased $25M YoY • Newly opened and acquired branches added ~$31M, existing branches decreased by ~$6M • Inflation in warehouse rent also contributed to the increase • Q3 cost actions showing results Investments in strategic initiatives continued • Investing to drive growth & enhance margins • Sales organization, private label, pricing tools and e-commerce 26.3% 26.2% 25.7% 25.7% Q4'21 Q4'22 Q4'23 Q4'24 Gross Margin $429 $409 $460 $434 GAAP Adj. OpEx* Operating Expense ($M) Q4'23 Q4'24 17.8% 18.0%19.1%18.6%

 
becn.com9 Strong Balance Sheet, Continued Capacity to Invest Record Q4 cash generation • Inventory decreased $87M from Q3’24 level • Optimized seasonal conversion of inventory with product availability in storm hit areas Prudent balance sheet management • Net debt leverage* 2.8x end of Q4 • Liquidity of >$1.1B as of 12/31 Balanced capital allocation remains priority • Invested in organic growth, full year capex of $127M • Settled accelerated share repurchase agreement in Q4 resulting in the retirement of 498k shares • Reduced net shares outstanding to 61.5M as of 12/31 compared to 63.3M at prior year end *Non-GAAP measure; see Appendix for definition and reconciliation; excluding buybacks proforma for cumulative share repurchases 2022 – 2024 **Maturities shown as of Q4’24; excl impact of debt issuance cost amortization & required $12.75M annual paydown of 2028 Term Loan $50 $320 $262 $360 Q4'21 Q4'22 Q4'23 Q4'24 Operating Cash Flow ($M) $1,162 $1,323 $1,228 $1,408 Q4'21 Q4'22 Q4'23 Q4'24 Net Inventory ($M) 2.1 1.6 1.0 1.2 Q4'21 Q4'22 Q4'23 Q4'24 Net Debt Leverage* Ex buybacks Buybacks 2.8 2.4 2.02.1 2025 2026 2027 2028 2029 2030 Debt Maturity ($M)** ABL Term Loan Secured Notes Unsecured Notes $350 $1,262 $0 $300 $223 $450 $441$0 $600 $300

 
PRESIDENT & CHIEF EXECUTIVE OFFICER JULIAN FRANCIS

 
becn.com11 Reflections on 2024 *Non-GAAP measure; see Appendix for definition and reconciliation Ambition 2025 has driven Beacon’s transformation Net sales growth of 7.1% to a record $9.8B Achieved growth across all 3 lines of business in a challenging environment Strong net income and record Adj. EBITDA* Net income of $362M Adj. EBITDA* of $930M Building a Winning Culture Invested in sales force leadership & training including launch of Commercial Academy and Roofing Industry Center at Clemson Returned $225 million to shareholders Over $1.5 billion in shareholder returns through common and preferred stock redemptions since ‘22 Accelerated greenfield investment Added 19 greenfield locations bringing A25 total to 64 new locations Executed on M&A pipeline Closed on 12 acquisitions adding 42 branches bringing A25 total to 26 acquisitions adding 85 branches Record digital and private label sales Achieved highest residential digital adoption though value-added integrations Bottom Quintile Branch initiative contributed Improved BQB branches added $20M to the bottom-line, total A25 contribution of $78M Operating expense & Adj OpEx % increased YoY Cost actions in September recalibrated and resulted in improved operating leverage in the existing business Operating cash flow of nearly $420M Lower inventory turnover resulted in lower full year cash flow x x

 
becn.com12 2025 market outlook • Residential shipments to be down YoY on lower storm demand partially offset by higher non-storm R&R • Single-family starts and existing home sales demand expected to remain sluggish • Non-residential repair and reroofing demand expected to improve offsetting soft new construction Q1’25 expectations • Quarter-to-date sales per day down low double-digits% YoY; Q1’25 sales per day expected to be down 3-5%* • Gross margins expected to be in-line with the prior year quarter • Adj. OpEx up YoY due to greenfields & acquired branches yet to be synergized partially offset by lower expenses in our existing business • Focused on controllable areas including customer experience, operational excellence and pricing model roll-out Full Year 2025 indications • Expect net sales growth of MSD% YoY, including LSD% contributions from previously announced acquisitions • Gross margin expected to be in-line with prior year • Adjusted EBITDA** of $950 – $1,030M Focused on accomplishing Ambition 2025 goals • Continued greenfield investment to yield 15 - 20 new locations in 2025 • Expect to execute on “tuck-in” M&A pipeline with disciplined criteria and rigorous integration • Committed to significant returns for our shareholders and prudent balance sheet management Closing Thoughts *Percentages adjusted for one less selling day in Q1‘25 as compared to Q1’24 **Non-GAAP measure; see Appendix for definition and reconciliation Note: 2025 has 1 less selling day as compared to 2024 Ambition 2025 has demonstrated multiple paths to growth and profitability

 

 
becn.com14 Reconciliations: Non-GAAP Financial Measures RESULTS BY QUARTER (CONTINUING OPERATIONS) We define Adjusted Operating Expense as operating expense (as reported on a GAAP basis) excluding the impact of amortization, acquisition costs, restructuring costs, and costs directly related to the COVID-19 pandemic. We define Adjusted EBITDA as net income (loss) from continuing operations excluding the impact of interest expense (net of interest income), income taxes, depreciation and amortization, stock- based compensation, acquisition costs, restructuring costs, and costs directly related to the COVID-19 pandemic. Beginning January 1, 2023, the Company determined that COVID-19 impacts should no longer be considered an adjusting item and the change was applied prospectively. For additional information see our latest Form 8-K, filed with the SEC on February 27, 2025.

 
becn.com15 Reconciliations: Non-GAAP Financial Measures ADJUSTED NET INCOME (LOSS) We define Adjusted Net Income (Loss) as net income (loss) (as reported on a GAAP basis) excluding the impact of acquisition costs and restructuring costs.

 
becn.com16 NET DEBT LEVERAGE We define Net Debt Leverage as gross total debt less cash, divided by Adjusted EBITDA for the trailing four quarters. Reconciliations: Non-GAAP Financial Measures

 
becn.com17 NET DEBT LEVERAGE (CONTINUED) We define Net Debt Leverage as gross total debt less cash, divided by Adjusted EBITDA for the trailing four quarters. We define Net Debt Leverage excluding share repurchases as gross total debt less cash and less capital deployed for the repurchases of common stock and preferred stock since the beginning of Ambition 2025 or 1/1/2022, divided by Adjusted EBITDA for the trailing four quarters. We define Net Debt Leverage attributable to share repurchases as Net Debt Leverage less Net Debt Leverage excluding share repurchases. Reconciliations: Non-GAAP Financial Measures

 
becn.com18 *Composed of Acquisition and Restructuring costs 2025 GUIDANCE: ADJUSTED EBITDA Reconciliations: Non-GAAP Financial Measures

 
v3.25.0.1
Cover
Feb. 27, 2025
Document Information [Line Items]  
Document Type 8-K
Document Period End Date Feb. 27, 2025
Entity Registrant Name BEACON ROOFING SUPPLY, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 001-42492
Entity Tax Identification Number 36-4173371
Entity Address, Address Line One 505 Huntmar Park Drive
Entity Address, Address Line Two Suite 300
Entity Address, City or Town Herndon
Entity Address, State or Province VA
Entity Address, Postal Zip Code 20170
City Area Code 571
Local Phone Number 323-3939
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001124941
Common Stock  
Document Information [Line Items]  
Title of 12(b) Security Common Stock, $0.01 par value
Trading Symbol BECN
Security Exchange Name NASDAQ
Preferred Stock  
Document Information [Line Items]  
Title of 12(b) Security Preferred Stock Purchase Rights
Trading Symbol N/A
Security Exchange Name NASDAQ
Beacon Roofing Supply (NASDAQ:BECN)
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