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GREENWICH, Conn.--(BUSINESS WIRE)-- QXO, Inc. (NYSE: QXO), today announced the appointment of Ken West as President and Chief Operating Officer, effective September 1, 2026. West will report to Chief Executive Officer Brad Jacobs and be responsible for QXO’s day-to-day operations. West brings an extensive track record of high-impact operational leadership and driving major business transformations. He joins QXO from Honeywell Technologies, where he most recently served as President and Chief Executive Officer of Honeywell Process Technology, which holds the leading global position in process technology. West has more than 20 years of experience leading large, complex industrial businesses across operations, strategy, finance, and integration. He was responsible for the acquisition of Johnson Matthey’s Catalyst Technologies business and spearheaded its integration. Brad Jacobs, Chairman and Chief Executive Officer of QXO, said, “Ken is an exceptional operator with the executional rigor to lead QXO’s operations. He has demonstrated an ability to achieve outstanding results across a number of industrial businesses. His leadership will be instrumental as we look to scale our platform and deliver outsized shareholder value.” “I’m excited to join QXO at this pivotal moment in its growth,” West said. “We have an extraordinary opportunity to build the preeminent company in the building products industry, and I’m eager to help transform the QXO team's bold vision into reality.” West joined Honeywell in 2018 and rose to lead three major business segments within six years. Prior to leading Honeywell Process Technology, he served as President and Chief Executive Officer of the company’s Energy and Sustainability Solutions segment, President and Chief Executive Officer of Honeywell UOP, and President of Honeywell Advanced Materials. In his most recent role, West helped shape Process Technology into a more growth-oriented business, including the spin-off of the independent company now known as Solstice Advanced Materials. He also led the acquisition of Sundyne and oversaw its integration with Honeywell’s automation and digital platforms. Before Honeywell, West spent 13 years at PPG Industries, where he served as Global Vice President of Packaging Coatings and held leadership roles in operations, integration, corporate planning, and finance. During his tenure, West led the integration of AkzoNobel Architectural Coatings North America, establishing PPG as the world’s largest coatings company. West earned an MBA from Carnegie Mellon University’s Tepper School of Business and a bachelor’s degree in mechanical engineering from Purdue University. About QXO QXO is a leading distributor and installer of building products serving an $800 billion market. The Company’s mission is to modernize the building products industry through advanced technology and a best-in-class customer experience. QXO is North America’s largest distributor and installer of insulation, the second-largest distributor of roofing products, the second-largest publicly traded distributor of lumber and building materials, and the largest distributor of waterproofing products. The Company is targeting $50 billion in annual revenue within the decade through accretive acquisitions and organic growth. For more information, visit QXO.com. Cautionary Statement Regarding Forward-Looking Statements This release includes forward-looking statements
GREENWICH, Conn.--(BUSINESS WIRE)-- QXO, Inc. (“QXO” or the “Company”) (NYSE: QXO) today reported financial results for the second quarter of 2026. For the three months ended June 30, 2026, basic and diluted loss per common share was $(0.14). Adjusted Diluted Earnings per Common Share, a non-GAAP financial measure, was $0.08. Note: The following summary of financial results for the three and six months ended June 30, 2026 include the legacy Kodiak Building Partners, Inc. (“Kodiak”) operational results from the date of acquisition on April 1, 2026 through June 30, 2026. The summary of financial results for the three and six months ended June 30, 2025 include the legacy Beacon Roofing Supply, Inc. (“Beacon”) operational results from the date of acquisition on April 29, 2025 through June 30, 2025. SECOND QUARTER 2026 SUMMARY RESULTS Three Months Ended June 30, Six Months Ended June 30, (in millions, except for per share data) 2026 2025 2026 <td class="bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignr bwwidth1" colspan="1" rowsp
GREENWICH, Conn. — July 9, 2026 — QXO, Inc. (NYSE: QXO), today posted a new investor Q&A document to its website. The document was also filed by QXO as an exhibit to a Form 8-K with the U.S. Securities and Exchange Commission. The Q&A is directly accessible at this link. About QXO QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is North America’s largest distributor and installer of insulation; second-largest distributor of roofing products; second-largest publicly traded distributor of lumber and building materials; and largest distributor of waterproofing products. The company is targeting $50 billion in annual revenue within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information. Media Contact Joe Checkler joe.checkler@qxo.com 203-609-9650 Investor ContactMark Manducamark.manduca@qxo.com203-321-3889
Deal Expected to Be Substantially Accretive to QXO’s Earnings GREENWICH, Conn.--(BUSINESS WIRE)-- QXO, Inc. (NYSE: QXO) today announced it has closed its previously disclosed acquisition of TopBuild Corp. The transaction significantly expands QXO’s scale and capabilities across the building products value chain. QXO now holds leadership positions in key building product categories in North America: #1 in insulation #2 in roofing #1 in waterproofing #1 or #2 in the lumber and building materials sector, in key geographies served The company also announced that Alec Covington, TopBuild’s former Chairman, joined QXO’s Board of Directors, effective immediately. Mr. Covington replaces Jared Kushner, who has resigned from the Board of Directors to focus on other commitments. Brad Jacobs, Chairman and Chief Executive Officer of QXO, said, “By acquiring TopBuild, we’re broadening our product offering, adding installation capabilities, and expanding our exposure to fast-growing end markets like data centers. By 2030, we expect to generate at least $300 million in annual synergies largely from procurement, pricing, and cross-selling, while applying TopBuild’s operational excellence across QXO. The transaction is expected to be highly accretive to earnings and advance our plan to build a world-class company with $50 billion in revenue. I’m grateful to Jared for his significant contributions to the company, and I’m pleased to welcome Alec to the Board.” Under the terms of the merger agreement, former TopBuild shareholders will receive shares of QXO’s common stock or a combination of both cash and shares of QXO's common stock based on their elections and subject to proration and the other terms and conditions in the merger agreement. TopBuild's shares will stop trading on the New York Stock Exchange. Advisors Morgan Stanley & Co. LLC acted as lead financial advisor to QXO, and Barclays and Wells Fargo Securities acted as additional financial advisors to QXO. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to QXO. About QXO QXO is North America’s largest distributor and installer of insulation; second-largest distributor of roofing products; second-largest publicly traded distributor of lumber and building materials; and largest distributor of waterproofing products. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenue within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information. Cautionary Statement Regarding Forward-Looking Information This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, the anticipated benefits of the acquisition and expected future financial position and results of operations, are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forw
GREENWICH, Conn. & DAYTONA BEACH, Fla.--(BUSINESS WIRE)-- QXO, Inc. (NYSE: QXO) (“QXO”) and TopBuild Corp. (NYSE: BLD) (“TopBuild”) today announced the results of TopBuild stockholders’ elections regarding the form of merger consideration (the “Merger Consideration”) to be received in connection with QXO’s acquisition of TopBuild (the “Transaction”). As previously disclosed, the deadline for making an election was 5:00 p.m. Eastern Time on June 29, 2026 (the “Election Deadline”). The parties expect the Transaction to close on or about July 1, 2026, subject to the satisfaction or waiver of customary closing conditions. Before the Election Deadline, and as described in the election materials and in the parties’ joint proxy statement/prospectus dated May 29, 2026, each eligible TopBuild stockholder could elect to receive, for each share of TopBuild common stock held before the closing of the Transaction, either (i) $505.00 in cash (the “Cash Consideration”) or (ii) 20.200 shares of QXO common stock (the “Stock Consideration”), in each case subject to the election and proration procedures set forth in the merger agreement and the joint proxy statement/prospectus. TopBuild stockholders who did not make a valid election by the Election Deadline are deemed to have elected to receive the Stock Consideration. TopBuild stockholders who otherwise would have received a fractional share of QXO common stock will receive cash in lieu of that fractional share. Based on available information as of the Election Deadline, the results of the Merger Consideration election are as follows: TopBuild stockholders of record representing approximately 91.0% of the outstanding shares of TopBuild common stock elected to receive the Cash Consideration. In accordance with the proration procedures in the merger agreement, those shares were converted into the right to receive approximately $249.71 in cash and 10.211 shares of QXO common stock for each share of TopBuild common stock, subject to final calculations by the exchange agent; TopBuild stockholders of record representing approximately 1.4% of the outstanding shares of TopBuild common stock elected to receive the Stock Consideration; TopBuild stockholders of record representing approximately 7.6% of the outstanding shares of TopBuild common stock did not make a valid election or did not deliver a valid election by the Election Deadline and are therefore deemed to have elected to receive the Stock Consideration in accordance with the terms of the merger agreement. A more detailed description of the Merger Consideration and the allocation and proration procedures applicable to elections is contained in the joint proxy statement/prospectus. About QXO QXO, Inc. is the largest publicly traded distributor of roofing, waterproofing, and related products and the second-largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenue within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information. About TopBuild TopBuild Corp. is North America’s largest distributor and installer of insulation and related bui
GREENWICH, Conn.--(BUSINESS WIRE)-- QXO, Inc. (“QXO”) (NYSE: QXO) announced today the expiration and final results of the previously announced tender offers and consent solicitations (collectively, the “Tender Offers and Consent Solicitations”) by QXO’s wholly-owned subsidiary, Titanium MergerCo, Inc., a Delaware corporation (the “Company”), for the (i) $500.0 million aggregate principal amount of outstanding 4.125% Senior Notes due 2032 (the “2032 Notes”) and (ii) $750.0 million aggregate principal amount of outstanding 5.625% Senior Notes due 2034 (the “2034 Notes” and, together with the 2032 Notes, the “Notes”) of TopBuild Corp. (“TopBuild”). The Tender Offers and Consent Solicitations expired at 5:00 p.m., New York City time, on June 29, 2026 (the “Expiration Date”). No tenders submitted after the Expiration Date are valid. According to information provided to the Company by D.F. King & Co., Inc., the information and tender agent (the “Information and Tender Agent”) for the Tender Offers and Consent Solicitations, as of the Expiration Date, Notes were validly tendered and not validly withdrawn with respect to (i) $497,723,000 aggregate principal amount of the 2032 Notes, representing approximately 99.54% of the outstanding 2032 Notes, and (ii) $748,093,000 aggregate principal amount of the 2034 Notes, representing approximately 99.75% of the outstanding 2034 Notes. The Company has accepted for purchase all Notes that were validly tendered (and not validly withdrawn) in the Tender Offers and Consent Solicitations. The “Settlement Date” for the Tender Offers and Consent Solicitations is expected to be July 1, 2026, substantially coinciding with, and contingent upon, the expected closing of QXO’s acquisition of TopBuild (the “TopBuild Acquisition”). Any eligible holder that validly tendered their Notes at or prior to 5:00 p.m., New York City time, on June 11, 2026 (the “Early Tender Deadline”) (and did not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on June 11, 2026) were accepted for purchase at a price of $1,011.25 per $1,000 of principal amount of such Notes, plus accrued and unpaid interest from the last interest payment date on such purchased Notes up to, but not including, the Settlement Date. Notes validly tendered (and not validly withdrawn) after the Early Tender Deadline but at or prior to the Expiration Date were accepted for purchase at a price of $961.25 per $1,000 of principal amount of such Notes, plus accrued and unpaid interest from the last interest payment date on such purchased Notes up to, but not including, the Settlement Date. On the Early Tender Deadline, the Company received consents sufficient to amend the applicable Indentures governing the Notes to (i) eliminate the requirement to make a “Change of Control Offer” for the related Notes in connection with the TopBuild Acquisition and future transactions, (ii) eliminate substantially all of the restrictive covenants in the applicable Indenture and the Notes, (iii) eliminate certain conditions to legal defeasance and covenant defeasance in the applicable Indenture and the Notes and (iv) eliminate all events of default other than events of default relating to the failure to pay principal of and interest on the Notes (collectively, the “Proposed Amendments”). On the Early Tender Deadline, TopBuild and the trustee of each series of Notes entered into a supplemental indenture to each Indenture to effect the Proposed Amendm
GREENWICH, Conn. & DAYTONA BEACH, Fla.--(BUSINESS WIRE)-- QXO, Inc. (NYSE: QXO) (“QXO”) and TopBuild Corp. (NYSE: BLD) (“TopBuild”) today announced that stockholders of both companies overwhelmingly approved all proposals required for QXO to complete its acquisition of TopBuild at the companies’ respective Special Meetings held today. Approximately 99% of the votes cast at QXO’s Special Meeting were in favor of approving the issuance of shares of QXO common stock in connection with the transaction. Approximately 78% of the votes cast at TopBuild’s Special Meeting were cast in favor of adopting the merger agreement, representing approximately 65% of all outstanding shares. The transaction is expected to close on or about July 1, 2026, provided that customary closing conditions are satisfied. About QXO QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing, and related products and the second-largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenue within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information. About TopBuild TopBuild Corp. is North America’s largest distributor and installer of insulation and related building products. The company provides installation and distribution services across residential, commercial, and industrial end markets, including insulation used in walls, attics, floors, and roofing assemblies; complementary products such as gutters, fireproofing, and mechanical insulation; and specialized roofing systems for large-scale buildings such as airports, stadiums, and warehouses. TopBuild operates more than 450 locations across the United States and Canada. Visit TopBuild.com for more information. Cautionary Statement Regarding Forward-Looking Information This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, the expected timing of the closing of the proposed acquisition, the anticipated benefits of the proposed acquisition, including synergies, and expected future financial position, total addressable market, positions in building product verticals and results of operations, are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cau
GREENWICH, Conn.--(BUSINESS WIRE)-- QXO, Inc. (“QXO”) (NYSE: QXO) announced the early tender results of the previously announced tender offers and consent solicitations (collectively, the “Tender Offers and Consent Solicitations”) by QXO’s wholly-owned subsidiary, Titanium MergerCo, Inc., a Delaware corporation (the “Company”), for the (i) $500.0 million aggregate principal amount of outstanding 4.125% Senior Notes due 2032 and (ii) $750.0 million aggregate principal amount of outstanding 5.625% Senior Notes due 2034 (together, the “Notes”) of TopBuild Corp. (“TopBuild”). The Tender Offers and Consent Solicitations are being conducted in connection with QXO’s pending acquisition of TopBuild (the “TopBuild Acquisition”). The below table presents, according to information provided to the Company by D.F. King & Co., Inc., the information and tender agent (the “Information and Tender Agent”) for the Tender Offers and Consent Solicitations, the aggregate principal amount of Notes validly tendered at or prior to 5:00 p.m., New York City time, on June 11, 2026 (the “Early Tender Deadline”) and not validly withdrawn at or prior to 5:00 p.m., New York City time, on June 11, 2026 (the “Withdrawal Deadline”) (the “Early Tender Notes”), and the percent of the aggregate principal amount of Notes outstanding constituting Early Tender Notes. CUSIP/ISIN* Title of Notes Aggregate Principal Amount Outstanding Aggregate Principal Amount of Early Tender Notes Percent of Outstanding Principal Amount Tendered <td class="bwtopsingle bwsinglebottom bwrightsingle bwpadl0 bwalignc bwvertalignm bwwidth13" colspan="1" rowsp
GREENWICH, Conn. & DAYTONA BEACH, Fla.--(BUSINESS WIRE)-- QXO, Inc. (NYSE: QXO) (“QXO”) and TopBuild Corp. (NYSE: BLD) (“TopBuild”) today announced that the deadline for TopBuild stockholders of record to elect the form of consideration that they wish to receive in connection with the acquisition of TopBuild by QXO (the “Mergers”) is 5:00 p.m., Eastern Time on June 29, 2026 (such deadline, as it may be extended, the “Election Deadline”). As further described in the election materials and in the parties’ joint proxy statement/prospectus, dated May 29, 2026, each TopBuild stockholder may elect to receive, for each share of TopBuild common stock held prior to the closing of the Mergers, either (i) $505.00 in cash (the “cash consideration”) or (ii) 20.200 shares of QXO common stock (the “stock consideration”), in each case, subject to the election and proration procedures set forth in the merger agreement and the joint proxy statement/prospectus. TopBuild stockholders who fail to make a proper election by the Election Deadline will receive stock consideration for their shares of TopBuild common stock. TopBuild stockholders who otherwise would have received a fractional share of QXO common stock will receive cash in lieu of such fractional share. TopBuild stockholders of record wishing to make an election must deliver properly completed election materials to Equiniti Trust Company, LLC by the Election Deadline. Additional information about the election, deadlines and contacts can be found in materials sent to TopBuild stockholders beginning on June 4, 2026. TopBuild stockholders with questions regarding the election materials or the election process should contact Innisfree M&A Incorporated, the information agent for the election, at (877) 750-8129 or their bank, broker or other nominee, as applicable, as soon as possible. A more detailed description of the Mergers, the election process and the merger consideration is contained in the joint proxy statement/prospectus. TopBuild stockholders are urged to read the joint proxy statement/prospectus carefully and in its entirety. Copies of the joint proxy statement/prospectus may be obtained free of charge by following the instructions below under the section entitled “Important Information for Investors and Stockholders.” About QXO QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing, and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information. About TopBuild TopBuild Corp., headquartered in Daytona Beach, Florida, is the largest distributor and installer of insulation and related building products in North America. The company provides installation and distribution services across residential, commercial, and industrial end markets, including insulation used in walls, attics, floors, and roofing assemblies; complementary products such as gutters, fireproofing, and mechanical insulation; and specialized roofing systems for large-scale buildings such as airports, stadiums, and warehouses. TopBuild operates more than 450 locations across the United States and Canada. Visit TopBuild.com for more information. Cautionary Statement Regarding Forward-Looking Information This communication contai
GREENWICH, Conn.--(BUSINESS WIRE)-- QXO, Inc. (NYSE: QXO) (“QXO” or the “Company”) announced today that its wholly owned subsidiary, QXO Building Products, Inc. (the “Issuer”), has priced its offering (the “Offering”) of $1.5 billion of 6.500% Senior Notes due 2031 (the “2031 Notes”) and $1.5 billion of 6.875% Senior Notes due 2034 (the “2034 Notes” and, together with the 2031 Notes, the “notes”) at par. The Offering is expected to close on June 17, 2026, subject to market and other conditions. If the issuance of the notes closes prior to the consummation of previously announced acquisition (the “TopBuild Acquisition”) of TopBuild Corp. (“TopBuild”), the gross proceeds of the offering will be deposited into a segregated escrow account and the notes will be secured on a first-priority basis by the escrow account and the funds held in the escrow account until the consummation of the TopBuild Acquisition (the “Release Date”). The consummation of the TopBuild Acquisition is subject to customary closing conditions, including approval by the shareholders of TopBuild and QXO. Upon consummation of the TopBuild Acquisition, the notes will be fully and unconditionally guaranteed by each of the Issuer’s wholly-owned domestic restricted subsidiaries that guarantees the Issuer’s senior secured first lien term loan facility and senior secured notes. From and after the Release Date, the notes and related guarantees will be unsecured obligations of the Issuer and subsidiary guarantors. The Issuer intends to use the proceeds from the offering of the notes, along with borrowings under new term loan facilities, proceeds from Series C Convertible Perpetual Preferred Stock of QXO and available balance sheet cash from QXO and TopBuild, to fund the TopBuild Acquisition and the other transactions contemplated by the related merger agreement, including the repayment or repurchase of TopBuild’s debt and payment of related fees and expenses. The issuance and sale of the notes and the related guarantees have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any other jurisdiction, and the notes and the related guarantees are being offered and sold only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions outside the United States in reliance on Regulation S under the Securities Act. This press release is issued pursuant to Rule 135c under the Securities Act and does not constitute an offer to sell or a solicitation of an offer to buy any securities described herein, nor will these securities be sold in any state or other jurisdiction where such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About QXO QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing, and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.qxo.com%2F&esheet=54547273&newsitemid=20260603158632&lan=en-US&anchor=QXO.com&