QXO Sets Goal of $50B in Annual Revenue
Originally Published by: HBS Dealer — August 13, 2026
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TopBuild acquisition is complete. Technology transformation has begun. And the ambitious goal of $50 billion in annual revenue within the decade remains intact.
Those are the big picture developments at Greenwich, Connecticut-based QXO. The building products distributor reported second-quarter net sales of $3.25 billion, up from $1.91 billion in the same quarter last year.
“Our second-quarter results reflect current market conditions and the progress we are making across the company,” said Brad Jacobs, chairman and CEO. “We have begun upgrading technology across the company to deliver best-in-class customer service and meaningful financial growth.”
Sales in the quarter broke down like this:
Residential roofing products: 39.0%
Non-residential roofing products: 22.7%
Complementary building products: 37.9%
Software products and services: 0.4%
Revenues in the quarter beat analyst estimates by some $68 million. Adjusted EBITDA of $272 million beat estimates by some $19 million.
Jacobs added: “We are focused on our plan to more than double EBITDA by 2030 and reach $50 billion in revenue within the decade.”
The results include the legacy Kodiak Building Partners operational results from the date of acquisition on April 1, 2026 through June 30, 2026. Similarly, they include the operational results from Beacon Roofing Supply from the date of acquisition on April 29, 2025 through June 30, 2025.
QXO also completed the acquisition of TopBuild on July 1, beyond the reporting period for the second quarter. With TopBuild, QXO describes itself as the second-largest publicly traded building products distributor in North America. The largest of the publicly traded building products distributors would be Newport News, Va.-based Ferguson, with 2025 annual sales of $31.3 billion.
Click here for the company's full earnings release.