{
  "url": "https://struct.news/briefs/qxo-doubled-gross-profit-on-32b-of-sales-as-six-month-cash-flow-stayed-negative",
  "title": "QXO doubled gross profit on $3.2B of sales as six-month cash flow stayed negative",
  "summary": "QXO used $146M in operating cash during six months ended June 30, even as gross margin climbed to 24.7%.",
  "published_at": "2026-08-14T11:05:15.236530+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "QXO, Inc.",
    "ticker": "QXO",
    "cik": "1628280",
    "sector": "Industrials",
    "industry": "Industrial Distribution"
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-08-14",
    "accession": "0001628280-26-056919",
    "url": "https://www.sec.gov/Archives/edgar/data/1236275/000162828026056919/qxo-20260630.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-14",
    "url": "https://www.sec.gov/Archives/edgar/data/1236275/000162828025040367/qxo-20250630.htm"
  },
  "reported_figures": [
    {
      "group": "QXO at a glance",
      "label": "Market cap",
      "value": 9121440000,
      "display": "$9.1B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "market_data",
        "label": "Observed market close",
        "as_of": "2026-08-13"
      }
    },
    {
      "group": "QXO at a glance",
      "label": "Enterprise value",
      "value": 9817140000,
      "display": "$9.8B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-056919",
        "filing_date": "2026-08-14"
      }
    },
    {
      "group": "QXO at a glance",
      "label": "Net debt",
      "value": 695700000,
      "display": "$695.7M",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-056919",
        "filing_date": "2026-08-14"
      }
    },
    {
      "group": "QXO at a glance",
      "label": "EV / sales",
      "value": 1.4347929028674988,
      "display": "1.4x",
      "unit": "multiple",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001628280-26-056919",
        "filing_date": "2026-08-14"
      }
    }
  ],
  "watch_next": [
    {
      "type": "interest_rates",
      "statement": "Higher average debt balances tied to the Beacon and TopBuild acquisitions increased interest expense.",
      "importance": "medium",
      "evidence": "The increases in interest expense in both comparative periods were primarily due to a higher average debt balance during the three and six months ended June 30, 2026 as QXO Building Products issued additional debt in connection with the Beacon Acquisition and, to a lesser extent, the TopBuild Acquisition, resulting in higher interest expense.",
      "source_date": "2026-08-14"
    },
    {
      "type": "m_and_a",
      "statement": "QXO says post-acquisition payroll, warehouse, and administrative costs increased SG&A after the Beacon and Kodiak acquisitions.",
      "importance": "medium",
      "evidence": "The increase in SG&A expense was primarily driven by costs incurred to support the ongoing operations of our business subsequent to the Beacon Acquisition and Kodiak Acquisition, including payroll and employee benefit costs, warehouse operating costs, and general and administrative costs.",
      "source_date": "2026-08-14"
    }
  ],
  "related_tickers": [
    "QXO"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}