QXO (QXO) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 rose to $3.25B from $1.91B in Q2 2025, reflecting major acquisitions including Kodiak Building Partners ($2.22B, April 2026) and TopBuild Corp. ($15B, July 2026), expanding scale and product offerings.

• Gross profit for Q2 2026 increased to $803M from $401M in Q2 2025; gross margin improved to 24.7%.

• Net loss for Q2 2026 was $55M, compared to $59M in Q2 2025.

• Adjusted Net Income for Q2 2026 was $130M, up from $109M in Q2 2025.

• Adjusted EBITDA for Q2 2026 was $272M, compared to $204M in Q2 2025.

Financial highlights

• Q2 2026 net sales: $3.25B (up from $1.91B in Q2 2025); H1 2026 net sales: $4.98B (up from $1.92B in H1 2025).

• Q2 2026 gross profit: $803M; gross margin: 24.7%.

• Q2 2026 net loss: $55M; H1 2026 net loss: $282M.

• Adjusted EBITDA for Q2 2026: $272M (8.4% margin); H1 2026: $273M (5.5% margin).

• Adjusted diluted EPS for Q2 2026: $0.08; adjusted net income: $73M.

Outlook and guidance

• Targeting $50B in annual revenues within the next decade and more than doubling EBITDA by 2030 through acquisitions and organic growth.

• Plans to report new segment structure following integration of recent acquisitions.

• Focus on technology upgrades and integration to drive growth.

• Management expects continued growth from expanded product offerings and geographic reach.