3. QXO Inc. (NYSE:QXO)
Preliminary Sales Jump 79% as Acquisitions Expand the Business
QXO, Inc. (NYSE: QXO) surged 19.20% on Monday to close at $13.78 after preliminary third-quarter figures showed substantially higher sales and a narrower net loss. Investors welcomed the larger revenue base, although the company’s acquisition activity is essential to understanding the comparison.
Preliminary net sales reached approximately $4.90 billion, up 79% from $2.73 billion a year earlier. The company also estimated a GAAP net loss of $123 million, compared with $139 million in the corresponding period of 2025. That represents an improvement of approximately 11.5%, but the business remained loss-making under standard accounting measures.
The results included Kodiak Building Partners from April 1 and TopBuild from July 1, their respective acquisition dates. Neither business was included in the prior-year quarter. Consequently, the headline sales increase should not be presented as organic growth across an unchanged group of operations.
Preliminary adjusted EBITDA increased approximately 85% to $557 million from $301 million. This measure offers another view of operating performance, but it excludes expenses included in the GAAP net loss. The two figures answer different questions and deserve to be read together.
Brad Jacobs’ Separate Venture Adds Another Headline
QXO, Inc. (NYSE: QXO) also attracted attention as Chairman and Chief Executive Officer Brad Jacobs announced plans to lead a separate $1 billion equity investment in CKX Lands, Inc. (NYSE American: CKX).
Under that agreement, Jacobs Private Equity II and minority co-investors would fund the investment, with Jacobs becoming chairman and CEO of the separate platform while retaining his existing leadership roles. The new platform’s industry had yet to be determined.
That announcement adds another chapter to Jacobs’ acquisition strategy, but the $1 billion investment is not funding being injected into QXO, Inc. (NYSE: QXO). For shareholders assessing its earnings prospects, the more direct issues remain integration, operating performance, and the final third-quarter results scheduled for November 12. Building a larger business is one task; making the combined operations more profitable is the next.
Ranking rationale: The 19.20% advance places the company at No. 3. Preliminary sales growth and a narrower net loss provide identifiable catalysts, with acquisitions materially affecting the year-over-year comparison.
