QXO's second quarter revenue of $3.25B beat estimates as platform scaling via acquisitions began

QXO reported second quarter 2026 net sales of $3.25 billion, surpassing analyst expectations driven by the integration of Kodiak Building Partners. The company reported a GAAP net loss of $55 million, or $(0.14) per share, while adjusted diluted EPS of $0.08 fell slightly short of the $0.09 consensus estimate. Results primarily reflect the first full quarter of Kodiak's operations and preparatory costs for the TopBuild merger completed on July 1.

Key Highlights

• Net sales surged to $3.25 billion, including a $595 million contribution from Kodiak Building Partners following its acquisition on April 1, 2026.
• Residential Roofing and Complementary Building Products segments now drive the bulk of the portfolio, accounting for 39% and 38% of total revenue, respectively.
• Liquidity remained robust with $2.77 billion in cash on hand, plus $3.0 billion in restricted cash dedicated to the TopBuild transaction finalized immediately after quarter-end.
• Management reaffirmed aggressive long-term targets to reach $50 billion in annual revenue and more than double EBITDA by 2030 through ongoing consolidation.