QXO Inc

Latest Results (13.05.2026):

QXO Inc.'s fourth quarter 2025 results (Q4 2025) were in line with its prior pre-announcement. For Q4 2025 the company reported GAAP basic and diluted loss per common share of $(0.17) and Adjusted Diluted EPS of $0.02; net sales were $2.19 billion. For the full year 2025 QXO reported a GAAP loss per share of $(0.63) and Adjusted Diluted EPS of $0.34. Results reflect the inclusion of legacy Beacon Roofing Supply from the April 29, 2025 acquisition.

Revenue and mix — Q4 2025

QXO Inc. reported Q4 2025 net sales of $2.194 billion. Sales mix for the quarter: residential roofing ~46.8%, non-residential roofing ~28.0%, complementary building products ~24.5%, and software/services ~0.7%. Full‑year 2025 net sales were $6.842 billion.

Profitability and non-GAAP metrics — Q4 2025

GAAP net loss for Q4 2025 was $90.2 million (loss per share $(0.17)). Q4 Adjusted EBITDA was $150.3 million (6.9% Adjusted EBITDA margin) and Adjusted Net Income was $52.1 million, yielding Adjusted Diluted EPS of $0.02. For FY 2025 Adjusted EBITDA and Adjusted Net Income were $647.8 million and $362.7 million, respectively.

Drivers of GAAP vs. adjusted results

Significant acquisition-related items drove the GAAP loss: acquisition‑related amortization (Q4 amortization $116.9M; FY $314.7M), transaction and transformation costs, restructuring, and inventory fair value adjustments (inventory step-up recognized in FY 2025). Management excludes these items in the company’s non‑GAAP measures.

Balance sheet and cash flow highlights

As of December 31, 2025 QXO Inc. reported total assets of $15.887 billion and total stockholders’ equity of $9.707 billion. Cash and cash equivalents were roughly $2.36 billion. Net cash provided by operating activities for 2025 was $261.4 million; investing activity included $10.56 billion used for the Beacon acquisition, and financing proceeds included equity and debt financings that funded the transaction.

M&A activity and outlook

QXO reiterated that Beacon’s results are included from the April 29, 2025 acquisition and announced a $2.25 billion agreement to acquire Kodiak Building Partners, expected to close early Q2 2026 and described as highly accretive to 2026 earnings. Management says the Kodiak deal will triple the company’s TAM to >$200 billion and has pushed the EBITDA run rate to over $1 billion in under 10 months, supporting a long‑term $50 billion revenue target.

Forward-looking / risk context

The press release includes forward‑looking statements and lists customary risks (integration, supply, pricing, leverage, liabilities from acquisitions, market cyclicality, and other operational and financial risks) that could affect future results for QXO Inc. beyond Q4 2025.