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QXO Reports Third Quarter 2026 Results

QXO
  • QXO, Inc. reported a net loss of $123 million and a basic and diluted loss per share of $(0.17) for the three months ended September 30, 2026.
  • Adjusted diluted earnings per share for the quarter were $0.13, while adjusted net income was $229 million and adjusted EBITDA was $557 million.
  • Net sales for the third quarter reached $4.895 billion, up from $2.728 billion in the same period of 2025, with contributions of $1.64 billion from TopBuild and $589 million from Kodiak.
  • Companywide pricing increased 2.2% year over year, and organic daily revenue trends improved for the second consecutive quarter despite a soft construction market.
  • Complementary product sales in Roofing and Waterproofing grew 4.2%, TRI-BUILT reached a record 10.6% of sales, and mechanical insulation distribution revenue grew 16%.
  • The company serves 194,000 customers across its legacy Beacon, Kodiak, and TopBuild businesses while integrating operations to expand offerings and reduce customer costs.
  • QXO authorized a $500 million common share repurchase program with no expiration date, subject to management discretion and various factors.
  • The company reiterated its long-term targets to reach $4 billion in adjusted EBITDA by 2030 and $50 billion in annual revenue within the decade.
  • Nine-month net sales totaled $9.871 billion compared to $4.648 billion in the prior year, with a nine-month net loss of $405 million and adjusted EBITDA of $830 million.
  • The balance sheet shows total assets of $34.47 billion as of September 30, 2026, including $14.536 billion in goodwill and $10.767 billion in net intangibles.
  • Net cash used in operating activities for the nine months ended September 30, 2026, was $145 million, while net cash provided by financing activities was $9.373 billion.
  • Acquisition-related costs included $10.933 billion in cash used for business acquisitions, net of cash acquired, during the nine-month period.
  • The company is investing in technology to connect sales, inventory, and warehouse systems, utilizing AI to help salespeople identify opportunities and improve delivery planning.