QXO Inc. finalized its cash-and-stock acquisition of TopBuild Corp. for $17 billion on July 1, making it North America's largest distributor and installer of insulation, the largest distributor of waterproofing products, and the second-largest distributor of roofing products. The company expects at least $300 million in annual synergies by 2030, and Chairman and CEO Brad Jacobs said the deal will help QXO explore rapidly expanding end markets such as data centers. This acquisition follows QXO's $2.25 billion purchase of Kodiak Building Partners in April and its $11 billion acquisition of Beacon Roofing Supply in 2025, positioning QXO among the top names in roofing, insulation, waterproofing, and building materials in North America. In its second quarter results announced on August 13, QXO posted $3.25 billion in revenue, up from $1.91 billion in the prior-year period, with adjusted EBITDA of $272 million, up 33% year over year, and adjusted net income of $130 million, up over 19%. However, adjusted diluted EPS fell to $0.08 from $0.11 due to a larger share base and preferred-stock dividends, and the company used $146 million in cash from operations in the first half of 2026. Jacobs reiterated the goal to more than double EBITDA by 2030 and reach $50 billion in revenue within the decade, but integration risks and dilution remain concerns for investors.
QXO, Inc.QXO completed its $17B TopBuild acquisition and reported Q2 revenue up to $3.25B with 33% higher adjusted EBITDA, though EPS fell on dilution.
Topbuild CorpTopBuild is the target of QXO's completed $17B cash-and-stock acquisition, a capital/M&A event whose effect on TopBuild holders is mixed.
