QXO Q2 2026: Revenue Triples to $3.25B on Acquisitions, Net Loss Narrows to $55M
QXO sits 15% above its 52-week low of $13.18.
Summary
QXO's Q2 2026 results show revenue tripling to $3.25B after the Kodiak and Beacon acquisitions, with a narrower net loss of $55M and Adjusted EBITDA of $272M. The company holds $4.70B in liquidity but carries $6.03B in long-term debt.
Key Events · Earnings and Guidance · QXO
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Revenue Triples on Acquisitions
Net sales reached $3.25 billion in Q2 2026, up from $1.91 billion a year earlier, driven by the Kodiak and Beacon acquisitions. Kodiak alone contributed $595 million in net sales during the quarter.
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Net Loss Narrows but Cash Burn Continues
Net loss was $55 million for Q2 2026, compared to $59 million in Q2 2025. Operating cash flow was negative $146 million for the first half of 2026, reflecting working capital needs and integration costs.
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Adjusted EBITDA Shows Underlying Profitability
Adjusted EBITDA was $272 million in Q2 2026, up from $204 million a year ago, though Adjusted EBITDA margin declined to 8.4% from 10.7% due to higher amortization and integration expenses.
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Massive Financing to Fund Acquisitions
Long-term debt nearly doubled to $6.03 billion as of June 30, 2026, including $3.0 billion in new senior notes issued in June 2026. The company also issued $2.0 billion of Series C Preferred Stock in April 2026.
Analysis · QXO · Trade & Services
The first quarterly report after closing the Kodiak and Beacon acquisitions shows revenue more than tripling year-over-year to $3.25 billion, driven by the acquired businesses. Net loss narrowed to $55 million from $59 million a year ago, but the company still burned $146 million in operating cash flow during the first half. Adjusted EBITDA of $272 million demonstrates the underlying profitability of the combined entity, though margins compressed as integration costs and amortization weigh on results. The balance sheet reflects the massive financing undertaken to fund the acquisitions, with long-term debt nearly doubling to $6.03 billion and total liquidity of $4.70 billion providing runway for further integration and potential additional M&A.
At the time of this filing, QXO was trading at $15.20 on NYSE in the Trade & Services sector, with a market capitalization of approximately $15.4B. The 52-week trading range was $13.18 to $27.61. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.