QXO Says Preliminary Third-Quarter Net Sales Rose 79.4% to an Estimated $4.90 Billion
QXO said Monday that preliminary third-quarter net sales were an estimated $4.90 billion, up 79.4% from $2.73 billion a year earlier, according to an 8-K. The latest quarter includes results from its acquisitions of Kodiak Building Partners and TopBuild.
The company released the preliminary figures ahead of its full third-quarter report, which it expects to publish Nov. 12, 2026. QXO said the numbers represent management estimates, are unaudited, subject to completion and may change as management finishes its review and quarter-end accounting procedures, and that they should not be viewed as a substitute for its full third-quarter financial statements.
QXO estimated its GAAP net loss for the quarter ended Sept. 30, 2026 at $123 million, compared with a net loss of $139 million a year earlier. Net margin improved to negative 2.5% from negative 5.1%.
Adjusted EBITDA, the company's non-GAAP profit measure, was an estimated $557 million, up 85.0% from $301 million. The adjusted EBITDA margin edged up to 11.4% from 11.1%.
The third quarter includes Kodiak's results from April 1, 2026 and TopBuild's from July 1, 2026, the dates QXO acquired them. Neither business is included in the year-earlier results, the company said.
The preliminary reconciliation shows amortization of $288 million, up from $118 million, and net interest expense of $163 million, up from $37 million. Depreciation rose to $83 million from $40 million, and stock-based compensation increased to $79 million from $31 million.
QXO recorded preliminary transaction costs of $40 million, transformation costs of $28 million and restructuring costs of $9 million in the quarter, all excluded from adjusted EBITDA. Inventory fair value adjustments tied to acquired businesses fell to $17 million from $51 million. QXO also booked a $27 million preliminary income tax benefit, compared with a $128 million tax provision a year earlier.
QXO describes itself as North America's largest distributor and installer of insulation, the second-largest distributor of roofing products and the largest distributor of waterproofing products, serving an $800 billion market. It is targeting $50 billion in annual revenue within the decade through acquisitions and organic growth.
By the numbers
- Preliminary net sales: an estimated $4.90 billion, up from $2.73 billion
- Preliminary GAAP net loss: an estimated $123 million, versus $139 million
- Preliminary adjusted EBITDA: an estimated $557 million, up from $301 million
- Adjusted EBITDA margin: 11.4%, versus 11.1%
- Full results expected: Nov. 12, 2026
Sources
- QXO Form 8-K with preliminary third-quarter 2026 financial information (Exhibit 99.1), filed Nov. 9, 2026 (accession 0001628280-26-071846)
This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.
Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence. SI may make mistakes.