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QXO-News
QXO-Events
QXO Appoints Ken West as President and COO
QXO (QXO) announced the appointment of Ken West as President and COO, effective September 1. West will report to CEO 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 (HON), where he most recently served as President and CEO of Honeywell Process Technology, which holds the leading global position in process technology.
QXO Reports Q2 Revenue of $3.25B, Exceeds Expectations
Reports Q2 revenue $3.25B, consensus $3.18B. Brad Jacobs, chairman and chief executive officer of QXO, said, "Our second-quarter results reflect current market conditions and the progress we are making across the company. We have begun upgrading technology across the company to deliver best-in-class customer service and meaningful financial growth. Following the completion of the TopBuild acquisition on July 1, QXO is the second-largest publicly traded building products distributor in North America, with greater scale and a broader presence at customers' job sites. We are focused on our plan to more than double EBITDA by 2030 and reach $50 billion in revenue within the decade."
QXO Completes Acquisition of TopBuild
QXO (QXO) tannounced it has closed its previously disclosed acquisition of TopBuild (BLD). The transaction significantly expands QXO's scale and capabilities across the building products value chain. The company also announced that Alec Covington, TopBuild's former Chairman, joined QXO's Board of Directors, effective immediately. Covington replaces Jared Kushner, who has resigned from the Board of Directors to focus on other commitments. TopBuild's shares will stop trading on the New York Stock Exchange.
QXO Acquires TopBuild, Expects $300 Million Annual Synergies
Brad Jacobs, Chairman and Chief Executive Officer of QXO (QXO), said, "By acquiring TopBuild (BLD), 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."
QXO Acquires TopBuild in Deal Expected to Close Soon
QXO (QXO) is acquiring TopBuild (BLD) in a deal expected to close soon, pending final closing conditions.
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