QXO, Inc. — Form 8-K
Filed August 13, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 68/100
What the filing says
QXO reported Q2 2026 net sales of $3.25B (up 70% YoY; includes $595M from Kodiak acquired April 1, 2026), but posted GAAP net loss of $55M (EPS: -$0.14). Adjusted EBITDA was $272M and Adjusted diluted EPS was $0.08. On July 1, 2026, QXO completed its TopBuild acquisition, funded by $3.0B in senior notes (now in escrow). The company targets $50B revenue and doubled EBITDA by 2030. Six-month YTD net loss was $282M; Adjusted diluted EPS was -$0.02.
Why this rating
TopBuild deal (~$3B debt-financed, transformational scale gain) material to $13.7B market-cap company. But Q2 showed margin compression (8.4% Adj. EBITDA margin vs. 10.7% prior year), integration costs ($36M transformation YTD), and GAAP losses. Near-term execution risk offsets strategic upside.
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