QXO sales growth in its fiscal Q2 2026, which ended June 30, benefited from its multiple acquisitions so far this year.

Brad Jacobs, QXO’s CEO, said the company’s Q2 results reflect market conditions. In a statement announcing Q2 earnings, he said QXO has become the second-largest publicly traded building products distributor in North America.

QXO described itself as a distributor and installer for building products. It said it seeks to modernize that industry through advanced technology and customer experience.

He attributed that to QXO’s July 1 acquisition of TopBuild, a distributor for insulation and related building products, for $17 billion. QXO initially announced its plan to acquire TopBuild in mid-April, the same month it completed its acquisition of Kodiak Building Partners for about $2.25 billion.

The Kodiak Building Partners acquisition followed QXO expanding its financing to $3 billion in January. QXO shared at the time that it planned to use the financing to support its digital acquisition strategy. About a week prior to that expanded financing, QXO had secured the first $1.2 billion, Digital Commerce 360 reported.

Acquisitions boost QXO sales in Q2 2026

In its fiscal Q2 2026, QXO reported about $3.25 billion in net sales. That marked 70.3% year-over-year growth from about $1.91 billion.

Kodiak Building Partners contributed $595 million to the quarter’s total sales. QXO’s Q2 sales total also includes results from Beacon Roofing Supply. QXO acquired Beacon Roofing Supply for $11 billion on April 29, 2025.

Months later, QXO sought to acquire GMS for $5 billion. Ultimately, The Home Depot acquired GMS for $5.5 billion. Home Depot made the purchase through its subsidiary, SRS Distribution, which it acquired in 2025 for about $18.25 billion.

In its fiscal first half of 2026, QXO reported about $4.98 billion in net sales. That marked 159% year-over-year growth from $1.92 billion.

Still, QXO reported a $55 million net loss in its fiscal Q2. Its adjusted net income was $130 million for the quarter.

The company is now operating with greater scale and a broader presence at its customers’ job sites, Jacobs said in QXO’s Q2 earnings announcement. He said QXO is focused on more than doubling its earnings before taxes, depreciation and amortization (EBITDA) by 2030.

“We have begun upgrading technology across the company to deliver best-in-class customer service and meaningful financial growth,” he said.

Jacobs and QXO have publicly targeted $50 billion in annual revenue within the decade. To reach that, the company said, it plans on continuing to make acquisitions while achieving organic growth.

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