- QXO completed the TopBuild acquisition on July 1, making it North America's largest distributor and installer of insulation and the second-largest distributor of roofing products.
- Management expects at least $300 million in annual synergies from the TopBuild deal by 2030, supported by pricing, procurement, and cross-selling opportunities.
- Q2 revenue rose to $3.25 billion from $1.91 billion, while adjusted EBITDA increased 33% year over year to $272 million; acquisition timing affects the comparison.
- Adjusted diluted EPS fell to $0.08 from $0.11 as the diluted share count increased and preferred-stock dividends reduced income attributable to common shareholders.
- QXO used $146 million in operating cash during H1 2026, leaving execution, integration spending, and financing discipline as key investor concerns.
Quotes
“We are focused on our plan to more than double EBITDA by 2030 and reach $50 billion in revenue within the decade.”