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QXO Inc. Completes $17 Billion Acquisition of TopBuild; Q2 Revenue Reaches $3.25 Billion, but Diluted EPS Declines; Hedge Funds Increase Holdings
QXO Inc. (QXO) became North America's largest distributor and installer of insulation materials after acquiring TopBuild Corp. for $17 billion in cash and stock on July 1. The company reported second-quarter revenue of $3.25 billion and adjusted EBITDA of $272 million, but diluted earnings per share fell to $0.08 from $0.11 in the same period last year. Hedge funds increased their holdings in QXO in the second quarter, with the number of funds holding positions rising from 65 to 83.
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