{"id":1020709,"date":"2026-11-12T18:57:21","date_gmt":"2026-11-12T23:57:21","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/qxo-reports-third-quarter-2026-results\/"},"modified":"2026-11-12T18:57:21","modified_gmt":"2026-11-12T23:57:21","slug":"qxo-reports-third-quarter-2026-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/qxo-reports-third-quarter-2026-results\/","title":{"rendered":"QXO Reports Third Quarter 2026 Results"},"content":{"rendered":"

<\/p>\n

QXO Reports Third Quarter 2026 Results<\/b><\/p>\n

GREENWICH, Conn.–(BUSINESS WIRE<\/a>)–
\nQXO, Inc. (\u201cQXO\u201d or the \u201cCompany\u201d) (NYSE: QXO) today reported financial results for the third quarter of 2026. For the three months ended September 30, 2026, basic and diluted loss per common share was $(0.17). Adjusted Diluted Earnings per Common Share, a non-GAAP financial measure, was $0.13.<\/p>\n

\nNote: The following summary of financial results for the three and nine months ended September 30, 2026, includes the legacy Kodiak Building Partners, Inc. (\u201cKodiak\u201d) operational results from the date of acquisition on April 1, 2026, through September 30, 2026, and the legacy TopBuild Corp. (\u201cTopBuild\u201d) operational results from the date of the acquisition on July 1, 2026, through September 30, 2026. The summary of financial results for the nine months ended September 30, 2025, includes the legacy Beacon Roofing Supply, Inc. (\u201cBeacon\u201d) operational results from the date of acquisition on April 29, 2025, through September 30, 2025.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

THIRD QUARTER 2026 SUMMARY RESULTS<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

Three Months Ended<\/b><\/p>\n

September 30,<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Nine Months Ended<\/b><\/p>\n

September 30,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(in millions, except for per share data)<\/i><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet sales<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n4,895<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n2,728<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n9,871<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n4,648<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGross profit<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n1,380<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n636<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n2,592<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n1,043<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Gross Profit(1)<\/sup><\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n1,397<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n687<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n2,609<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n1,174<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGross margin<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n28.2<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n23.3<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n26.3<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n22.4<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Gross Margin(1)<\/sup><\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n28.5<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n25.2<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n26.4<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n25.3<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet loss<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n(123<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n(139<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n(405<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n(189<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA(1)<\/sup><\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n557<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n301<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n830<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n497<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Net Income(1)<\/sup><\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n229<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n166<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n302<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n311<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nBasic and diluted loss per common share<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n(0.17<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n(0.24<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n(0.64<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n(0.46<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Diluted Earnings per Common Share(1)<\/sup><\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.13<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n0.14<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n0.15<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n0.32<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

(1)<\/sup> See the \u201cNon-GAAP Financial Measures\u201d section of the press release.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nBrad Jacobs, chairman and chief executive officer of QXO, said, \u201cOur organic daily revenue trends improved for the second consecutive quarter despite a soft construction market. Companywide pricing increased 2.2% year over year. We\u2019re prioritizing higher-margin products; in Roofing and Waterproofing, complementary product sales grew 4.2%, and TRI-BUILT reached a record 10.6% of sales. Mechanical insulation distribution revenue grew 16%, supported by strong data center demand.\u201d<\/p>\n

\nJacobs continued, \u201cWe have significant opportunities to grow by further integrating our businesses. We serve 194,000 customers across the legacy Beacon, Kodiak, and TopBuild businesses, but typically supply only a portion of what they need for a project. Our broader offering helps customers work with fewer suppliers, coordinate installation, and reduce construction costs. We\u2019re also improving our purchasing terms and applying successful operating practices from individual businesses across QXO.<\/p>\n

\n\u201cTechnology will help us serve customers better and operate more efficiently across our network. We\u2019re connecting our sales, inventory, and warehouse systems so employees can access information more easily and spend less time entering data in multiple applications. Our people will be able to provide quotes faster, check inventory in real time, and respond to customers more quickly. AI will help salespeople identify opportunities to sell additional products and win back dormant accounts. Better delivery planning will improve service and reduce transportation costs.<\/p>\n

\n\u201cWe\u2019re on track to reach $4 billion in adjusted EBITDA by 2030 from the businesses we already own and $50 billion in annual revenue within the decade through organic growth and disciplined acquisitions.\u201d<\/p>\n

\nIn addition, the Company\u2019s Board of Directors has authorized a common share repurchase program of $500 million with no expiration date. The authorization to repurchase common shares will be used at management\u2019s discretion, and the amount and timing of common share repurchases under the authorization will be subject to various factors. The program does not obligate the Company to repurchase any shares and may be suspended or discontinued at any time.<\/p>\n

Third Quarter Highlights<\/b><\/p>\n

\nNet sales totaled $4.90 billion for the three months ended September 30, 2026, including $1.64 billion from TopBuild and $589 million from Kodiak.<\/p>\n

\nFor the third quarter of 2026, net loss was $123 million and Adjusted Net Income, a non-GAAP financial measure, was $229 million. Basic and diluted loss per common share was $(0.17) and Adjusted Diluted Earnings per Common Share, a non-GAAP financial measure, was $0.13.<\/p>\n

\nAdjusted EBITDA, a non-GAAP financial measure, was $557 million for the three months ended September 30, 2026.<\/p>\n

About QXO<\/b><\/p>\n

\nQXO is a leading distributor and installer of building products in North America, serving an $800 billion market. The company\u2019s mission is to modernize the building products industry through advanced technology and a best-in-class customer experience. QXO is the largest distributor and installer of insulation, the second-largest distributor of roofing products, the second-largest publicly traded distributor of lumber and building materials, and the largest distributor of waterproofing products. The company is targeting $50 billion in annual revenue within the decade through accretive acquisitions and organic growth. For more information, visit QXO.com<\/a>.<\/p>\n

Non-GAAP Financial Measures<\/b><\/p>\n

\nAs required by the Securities and Exchange Commission (\u201cSEC\u201d) rules, the financial tables attached to this press release reconcile each non-GAAP financial measure to its most directly comparable measure under GAAP.<\/p>\n

\nWe calculate Adjusted Gross Profit as gross profit excluding inventory fair value adjustments, and we calculate Adjusted Gross Margin as Adjusted Gross Profit divided by net sales. We calculate Adjusted Net Income (Loss) as net income (loss) excluding amortization; stock-based compensation; loss on debt extinguishment; restructuring costs; transaction costs; transformation costs; inventory fair value adjustments; and the income tax associated with such adjusting items. We calculate Adjusted Diluted Earnings (Loss) per Common Share as Adjusted Net Income (Loss) attributable to common stockholders divided by the weighted-average number of common shares outstanding during the period plus the effect of dilutive common share equivalents based on the most dilutive result of the if-converted and two-class methods. We calculate Adjusted EBITDA as net income (loss) excluding depreciation; amortization; stock-based compensation; interest (income) expense, net; loss on debt extinguishment; provision for (benefit from) income taxes; restructuring costs; transaction costs; transformation costs; and inventory fair value adjustments that we do not consider representative of our underlying operations. We calculate Adjusted EBITDA Margin as Adjusted EBITDA divided by net sales.<\/p>\n

\nThe following expenses are excluded from Adjusted Net Income (Loss) and Adjusted EBITDA:<\/p>\n