QXO, Inc.

QXO Appoints Ken West as President and Chief Operating Officer

QXO appointed Ken West as President and Chief Operating Officer, effective September 1, 2026, reporting to CEO Brad Jacobs. West joins from Honeywell Technologies where he was CEO of Honeywell Process Technology, bringing over 20 years of experience in industrial operations, finance, and M&A integration. The hire supports QXO's strategy to scale its building products distribution platform, which targets $50 billion in annual revenue within an $800 billion addressable market.

•2mo ago

QXO Reports Second Quarter 2026 Results

QXO reported Q2 net sales of $3.25 billion, a significant increase from the prior year, driven primarily by the inclusion of Kodiak Building Partners results which contributed $595 million. The company posted a GAAP net loss of $55 million but achieved Adjusted Net Income of $130 million and Adjusted EBITDA of $272 million, highlighting underlying operational profitability amid acquisition-related costs. Management confirmed the completion of the TopBuild acquisition on July 1, positioning QXO as the second-largest publicly traded building products distributor in North America with a goal to reach $50 billion in annual revenue.

•2mo ago

QXO: 8-K · other

QXO, Inc. released an investor Q&A on July 9, 2026, outlining its value creation plan following the acquisitions of Beacon, Kodiak, and TopBuild. The company reported combined 2025 revenue of approximately $18.1 billion and Adjusted EBITDA of $2.1 billion, establishing a scaled platform in the building products distribution sector. Management provided a detailed organic EBITDA bridge to 2030, targeting growth from ~$2 billion to ~$4 billion through self-help levers such as pricing, procurement, and technology integration, independent of macro recovery. They also noted a path to $5.5 billion in EBITDA by 2030 when including tuck-in acquisitions. The filing explicitly stated that no near-term equity issuance is planned, with capital allocation focused on deleveraging and integration. QXO emphasized its strategy of becoming a tech-enabled leader in the $800 billion building products market, targeting $50 billion in annual revenue within a decade.

SEC 8-K•3mo ago

QXO Completes Acquisition of TopBuild

QXO has closed its acquisition of TopBuild Corp., significantly expanding its scale to claim #1 positions in insulation and waterproofing and #2 in roofing. The company expects to realize at least $300 million in annual synergies by 2030 driven by procurement and cross-selling, marking the transaction as highly accretive to earnings. Alec Covington, TopBuild’s former Chairman, has joined QXO’s Board effective immediately, replacing Jared Kushner who resigned to focus on other commitments.

•3mo ago

QXO Announces the Expiration and Final Results of Cash Tender Offers and Consent Solicitations for Any and All of TopBuild Corp.’s 4.125% Senior Notes due 2032 and 5.625% Senior Notes due 2034

QXO’s subsidiary successfully tendered 99.54% of TopBuild’s 2032 Notes and 99.75% of its 2034 Notes, effectively clearing the debt hurdles for the proposed acquisition. The tender offers were priced at $1,011.25 per $1,000 principal for early tenders and $961.25 for late tenders, with settlement expected on July 1, contingent on the merger closing. Consents were secured to amend the indentures, eliminating restrictive covenants and change-of-control offers to facilitate the transaction.

•3mo ago

QXO and TopBuild Stockholders Overwhelmingly Approve QXO’s Acquisition of TopBuild

Stockholders of QXO and TopBuild overwhelmingly approved the acquisition, with approximately 78% of TopBuild votes cast in favor representing 65% of outstanding shares. The transaction is expected to close on or about July 1, 2026, subject to the satisfaction of customary closing conditions. The merger will combine QXO, a distributor of building products, with TopBuild, a leader in insulation distribution and installation.

•3mo ago

QXO Announces Early Tender Results of Cash Tender Offers and Consent Solicitations for Any and All of TopBuild Corp.’s 4.125% Senior Notes due 2032 and 5.625% Senior Notes due 2034 and Receipt of Requisite Consents

QXO announced that it received requisite consents for TopBuild Corp.’s outstanding senior notes, a key step toward closing its pending acquisition of the building materials distributor. Early tender results showed 99.54% of the $500 million 2032 notes and 99.72% of the $750 million 2034 notes were validly tendered, allowing QXO to execute supplemental indentures that eliminate restrictive covenants and change-of-control offers. The tender offers remain open until June 29, 2026, with settlement expected to coincide with the consummation of the TopBuild Acquisition, removing a major regulatory and financial hurdle for the deal.

•4mo ago

QXO Announces Pricing of Senior Notes

QXO has priced a $3 billion dual-tranche senior notes offering to finance its pending acquisition of TopBuild Corp. The deal consists of $1.5 billion in 6.500% notes due 2031 and $1.5 billion in 6.875% notes due 2034, both priced at par. Proceeds will be held in escrow until the TopBuild acquisition closes, after which the notes will become unsecured obligations guaranteed by QXO subsidiaries.

•4mo ago

QXO: 424B3 · acquisition merger

QXO, Inc. (QXO) and TopBuild Corp. (BLD) have entered into a definitive merger agreement under which QXO will acquire TopBuild. The transaction is structured as a two-step merger, with TopBuild stockholders entitled to elect either $505.00 in cash or 20.200 shares of QXO common stock for each TopBuild share held. The merger agreement includes proration mechanisms capping cash elections at 45% and stock elections at 55% of outstanding TopBuild shares. Following the transaction, existing QXO shareholders are expected to retain approximately 70% of the combined company's equity, while former TopBuild shareholders will hold approximately 30%. Both boards unanimously recommend the transaction. QXO stockholders will vote on the issuance of shares and a charter amendment to increase authorized shares from 2 billion to 4 billion. TopBuild stockholders will vote to adopt the merger agreement. The deal is subject to customary closing conditions, including stockholder approval and regulatory clearances, with completion expected in the third quarter of 2026.

SEC 424B3•4mo ago

QXO Announces Cash Tender Offers and Consent Solicitations for Any and All of TopBuild Corp.’s 4.125% Senior Notes due 2032 and 5.625% Senior Notes due 2034

QXO has commenced cash tender offers and consent solicitations for TopBuild’s outstanding senior notes due 2032 and 2034, a key step in its pending acquisition of the building materials distributor. The company is offering $1,011.25 per $1,000 of principal (including a $50 early tender bonus) to purchase the debt and solicit consents to amend the indentures. The proposed amendments aim to eliminate change-of-control offers and substantially all restrictive covenants, facilitating the integration of TopBuild’s debt structure post-merger.

•4mo ago

QXO: S-4 · acquisition merger

QXO, Inc. has filed an S-4 registration statement for its proposed acquisition of TopBuild Corp. through a two-step merger structure. TopBuild shareholders will receive either $505.00 in cash or 20.200 shares of QXO common stock for each TopBuild share held, subject to proration caps of 45% for cash and 55% for stock. Existing QXO shareholders will retain approximately 69.9% of the combined company's voting power post-transaction, while former TopBuild shareholders will hold approximately 30.1%. The deal requires approval from both sets of shareholders, with QXO also seeking authorization to increase its authorized shares from 2 billion to 4 billion. Jacobs Private Equity II, LLC, a supporting stockholder, has agreed to vote its convertible preferred shares in favor of the transaction. The mergers are expected to close in the third quarter of 2026, contingent on regulatory approvals and shareholder votes.

SEC S-4•5mo ago

QXO: 8-K · acquisition merger

QXO, Inc. filed an 8-K on May 15, 2026, providing audited and unaudited financial statements for Kodiak Building Partners and TopBuild Corp., along with unaudited pro forma combined financial information for the proposed acquisition of TopBuild. This filing supports the upcoming S-4 registration statement and joint proxy statement/prospectus for the TopBuild Acquisition, which was agreed upon on April 20, 2026. The pro forma data gives effect to the TopBuild Acquisition, the recently completed Kodiak Acquisition (closed April 1, 2026), and the earlier Beacon Acquisition (closed April 29, 2025), as if they had occurred on January 1, 2025. The TopBuild deal involves QXO offering TopBuild shareholders a choice of $505.00 in cash or 20.200 shares of QXO common stock per share. QXO is funding the TopBuild acquisition through a combination of cash on hand, proceeds from a $1.0 billion issuance of Series C Convertible Preferred Stock (part of a $3.0 billion commitment from Apollo Global Management), and new debt financings. The filing includes consents from KPMG LLP (Kodiak’s auditor) and PricewaterhouseCoopers LLP (TopBuild’s auditor) to incorporate their reports into the registration statement.

SEC 8-K•5mo ago

NAHICA Announces QXO as National Sponsor, Expanding Support for Latino Contractors Nationwide

QXO was named a National Sponsor of the National Hispanic Contractors Association (NAHICA), reinforcing its commitment to empowering Latino contractors in the construction and roofing industries. Through this partnership, QXO will support NAHICA's efforts to provide education, training, and business resources to help Hispanic-owned businesses scale. The move targets one of the fastest-growing segments of the U.S. construction workforce, aligning with QXO's strategy as a leading building products distributor.

•6mo ago

QXO Partners With NAHICA to Advance Opportunities for Latino Contractors Nationwide

QXO partnered with the National Hispanic Contractors Association (NAHICA) as a national sponsor to support Latino contractors across the United States. The collaboration aims to provide education, resources, and business opportunities to the fastest-growing segment within the U.S. construction workforce. QXO highlighted that Hispanic contractors are a critical force in the roofing and construction industries as it seeks to strengthen its market position.

•6mo ago