QXO reports Q1 EPS (12c), consensus (10c)

Reports Q1 revenue $1.73B, consensus $1.73B. Brad Jacobs, CEO, said, “Our first quarter results reflect the softness we’re seeing in the building products industry, and our investments in the business, including people and technology. Operationally, we continue to execute our integration plan across the legacy Beacon business, supported by disciplined investments in technology, sales capacity, and other long-term initiatives. On M&A, we recently closed the $2.25 billion acquisition of Kodiak Building Partners, and announced the landmark $17 billion acquisition of TopBuild. Once we close the TopBuild deal, which is expected in the third quarter, QXO (QXO) will be the second largest publicly traded building products distributor in North America. We remain firmly on track to achieve $50 billion in annual revenue within a decade.”