QXO (QXO) Q3 2026 earnings summary

Executive summary

• Organic daily revenue trends improved for a second consecutive quarter despite a soft construction market; pricing increased 2.2% YoY.

• Broader product penetration and integration across the acquired businesses are central growth opportunities, with 194,000 customers served across legacy Beacon, Kodiak and TopBuild operations.

Financial highlights

• Q3 net sales were $4.895B vs. $2.728B YoY; 9M sales were $9.871B vs. $4.648B.

• Q3 net loss was $123M vs. $139M; adjusted net income was $229M vs. $166M. 9M net loss was $405M vs. $189M; adjusted net income was $302M vs. $311M.

• Q3 adjusted EBITDA was $557M vs. $301M; 9M adjusted EBITDA was $830M vs. $497M.

• Q3 basic and diluted loss per share was $0.17 vs. $0.24; adjusted diluted EPS was $0.13 vs. $0.14. 9M adjusted diluted EPS was $0.15 vs. $0.32.

Outlook and guidance

• Targets $4B adjusted EBITDA by 2030 from businesses already owned and $50B annual revenue within the decade through organic growth and disciplined acquisitions.

• Technology initiatives aim to connect sales, inventory and warehouse systems, speed quotes and customer responses, improve sales opportunities, and lower delivery costs.