QXO, Inc. (QXO) reported a sharp rise in quarterly revenue in the third quarter of 2026, with sales climbing to $4.9 billion, up 79.4% from a year earlier. Gross profit also improved significantly, reaching $1.4 billion, reflecting stronger scale and higher absolute profitability despite heavy cost growth.
The company remained near breakeven at the operating level, posting operating profit of just $2 million, while net income attributable to common shareholders came in at a loss of $123 million. Diluted earnings per share were -$0.17, showing that profitability continues to lag revenue growth.
Cash generation was weak during the quarter, with cash from operating activities falling to $1 million. QXO also spent $57 million on property and equipment, while cash and cash equivalents declined to $528 million. Total liabilities rose to $15.8 billion, underscoring a larger balance sheet as the company scaled up.
- Revenue rose 79.4% year over year to $4.9 billion.
- Gross profit increased 117.1% to $1.4 billion.
- Net income was a loss of $123 million.
- Operating cash flow slowed to $1 million.
- Total liabilities increased to $15.8 billion.
Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.
QXO, Inc. Hedge Fund Activity
We have seen 564 institutional investors add shares of QXO, Inc. stock to their portfolio, and 227 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 21,252,280 shares (+84.1%) to their portfolio in Q2 2026, for an estimated $367,239,398
- INVESCO LTD. added 13,674,429 shares (+28.4%) to their portfolio in Q3 2026, for an estimated $159,854,075
- CAPITAL WORLD INVESTORS added 12,511,092 shares (+inf%) to their portfolio in Q3 2026, for an estimated $146,254,665
- MORGAN STANLEY added 11,860,833 shares (+15.9%) to their portfolio in Q2 2026, for an estimated $204,955,194
- BALYASNY ASSET MANAGEMENT L.P. added 7,594,439 shares (+4521.2%) to their portfolio in Q2 2026, for an estimated $131,231,905
- MILLENNIUM MANAGEMENT LLC added 7,214,662 shares (+9621.9%) to their portfolio in Q2 2026, for an estimated $124,669,359
- GEODE CAPITAL MANAGEMENT, LLC added 7,159,383 shares (+77.0%) to their portfolio in Q3 2026, for an estimated $83,693,187
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
