Earnings Releases·Nov 12, 2026, 4:15 PM ET

QXO — Third Quarter 2026 Earnings Summary

Net sales surged 79% year-over-year to $4.895 billion for the quarter and 112% to $9.871 billion for the nine months, driven by the consolidation of legacy TopBuild and Kodiak results, while Adjusted EBITDA more than doubled to $557 million for the quarter and $830 million for the nine months.
The company executed significant capital deployment with $11.040 billion in net cash used for investing activities, primarily acquisitions, resulting in a debt increase to $9.278 billion and a cash balance decline to $528 million, alongside a $500 million share repurchase authorization.
Management reaffirmed a confident long-term outlook targeting $4 billion in adjusted EBITDA and $50 billion in annual revenue by 2030, citing improved organic daily revenue trends and a 2.2% year-over-year price increase despite a soft construction market.
Strategic initiatives focus on integrating sales and inventory systems and deploying AI to enhance efficiency, while the company maintains its position as the largest distributor of insulation and waterproofing products within an $800 billion market.