QXO (QXO) Q4 2025 earnings summary

Executive summary

• Reported Q4 2025 results in line with prior guidance, reflecting Beacon Roofing Supply acquisition integration.

• GAAP net loss per share of $(0.17) for Q4 and $(0.63) for the year, mainly due to acquisition-related costs.

• Adjusted Diluted EPS was $0.02 for Q4 and $0.34 for the full year 2025.

• Announced $2.25 billion agreement to acquire Kodiak Building Partners, expected to close early Q2 2026.

Financial highlights

• Q4 2025 net sales were $2.19 billion; full year net sales reached $6.84 billion, up sharply from $56.9 million in 2024 due to acquisitions.

• Q4 gross profit was $529.9 million (24.2% margin); full year gross profit $1.57 billion (23.0% margin).

• Adjusted EBITDA for Q4 was $150.3 million (6.9% margin); full year Adjusted EBITDA $647.8 million (9.5% margin).

• Adjusted Net Income for Q4 was $52.1 million; full year $362.7 million.

• Significant increase in total assets to $15.89 billion at year-end 2025, up from $5.10 billion in 2024.

Outlook and guidance

• Kodiak Building Partners acquisition expected to be highly accretive to 2026 earnings.

• Targeting $50 billion in annual revenue within the next decade through acquisitions and organic growth.

• EBITDA run rate projected to exceed $1 billion post-Kodiak acquisition.