AcquisitionsMay 12, 2026, 04:24 PM
QXO Completes Kodiak Acquisition, Announces TopBuild Deal; Q1 Net Loss $227.1M
AI Summary
QXO, Inc. reported a net loss of $227.1 million on net sales of $1,730.2 million for the three months ended March 31, 2026, reflecting the impact of the Beacon Acquisition completed in April 2025. The company also announced the completion of its acquisition of Kodiak Building Partners for $2.25 billion on April 1, 2026, and entered into an agreement to acquire TopBuild Corp. for approximately $17.0 billion on April 18, 2026. These strategic moves are part of QXO's plan to become a tech-enabled leader in the building products distribution industry.
Key Highlights
- Kodiak Building Partners acquisition completed April 1, 2026, for $2.25 billion.
- Agreement to acquire TopBuild Corp. for approximately $17.0 billion announced April 18, 2026.
- Q1 2026 net sales reached $1,730.2 million, significantly up from $13.5 million in Q1 2025.
- Q1 2026 net loss was $227.1 million, compared to net income of $8.8 million in Q1 2025.
- Basic and diluted loss per common share was $0.35 for Q1 2026.
- Cash and cash equivalents increased to $3,046.3 million as of March 31, 2026.
- Total assets grew to $16,660.2 million as of March 31, 2026.
- Total liabilities increased to $6,495.3 million as of March 31, 2026.