AcquisitionsMay 12, 2026, 04:23 PM
QXO to Acquire TopBuild for $17B; Reports Q1 Loss of $(0.35) EPS
AI Summary
QXO, Inc. announced a definitive agreement to acquire TopBuild Corp. for approximately $17.0 billion in cash and stock, with the transaction expected to close in the third quarter of 2026. This follows the completion of the $2.25 billion acquisition of Kodiak Building Partners on April 1, 2026. For the first quarter of 2026, QXO reported net sales of $1.73 billion, a net loss of $(227.1) million, and an Adjusted Diluted Loss per Common Share of $(0.12). The company reiterated its long-term goal of achieving $50 billion in annual revenue within a decade.
Key Highlights
- QXO to acquire TopBuild for approximately $17.0 billion, expected to close in Q3 2026.
- Completed $2.25 billion acquisition of Kodiak Building Partners on April 1, 2026.
- Reported Q1 2026 net sales of $1.73 billion.
- Recorded Q1 2026 net loss of $(227.1) million.
- Adjusted Diluted Loss per Common Share was $(0.12) for Q1 2026.
- Adjusted EBITDA for Q1 2026 was $1.2 million.
- Raised $749 million net proceeds from common stock offering in January 2026.
- Residential roofing products accounted for $799.1 million (46.2%) of Q1 net sales.