QXO, Inc. reports 70% sales growth driven by acquisitions

QXO, Inc. reported significant sales growth in its fiscal second quarter of 2026, ending June 30. Net sales reached approximately $3.25 billion, representing a 70.3% year-over-year increase from $1.91 billion. This growth was driven primarily by several major acquisitions, including Kodiak Building Partners, which contributed $595 million to the quarter's total. CEO Brad Jacobs stated that the company has become the second-largest publicly traded building products distributor in North America.

In the first half of fiscal 2026, QXO reported net sales of approximately $4.98 billion, a 159% increase compared to the previous year. Despite the revenue surge, the company reported a net loss of $55 million for the fiscal second quarter.

Regarding future outlook, a FactSet survey of 17 analysts recently revised the median 2026 earnings per share (EPS) estimate for QXO from $0.26 to $0.25. The survey set a target price of $27.00 for the company.