The 2026 Trends Survey, sponsored by QXO, captures insight into the pressures roofing contractors are navigating and the goals guiding their businesses. 

RoofersCoffeeShop®, the award-winning place where the industry meets for technology, information and everyday business, announces the opening of its latest Roofing Industry Trends Survey, sponsored by QXO. Now in its tenth year, the Trends Survey seeks contractor perspectives on the factors influencing business performance, including workforce training, AI adoption, technology gaps, hiring efforts, immigration challenges and keeping skilled employees. 

“We are committed to understanding the realities contractors face, the changes shaping the market and the resources that can help them succeed,” said Heidi J. Ellsworth, president/CEO of RoofersCoffeeShop. “This survey is one way we can capture the challenges, opportunities and trends shaping the market in real time. When contractors share what they are seeing every day, it gives the entire industry a clearer picture of their challenges, helping us identify where support is needed and how we can better serve the industry moving forward.”  

The 2026 Trends Survey is designed to discover the key business challenges contractors are facing, from operational issues to workforce demands, while also examining the digital tools and platforms they are leveraging to improve efficiency. The survey covers a variety of contractor needs, including training, software and marketing tactics, and offers an in-depth look at how strategies for lead generation, recruitment and retention are influencing business success. 

Since 2016, RCS has been surveying contractors and has created seven Trends Reports, each focusing on the industry's biggest challenges, identifying key business priorities and providing an overview of the sector's overall health. 

Contractors are urged to take the 2026 Trends Survey today!

About RoofersCoffeeShop 

As an award-winning website and online community, RoofersCoffeeShop is committed to being a roofing professional advocate by supplying consistent information, education and communication avenues for all roofing professionals, and especially contractors, while promoting the positive growth, education and success of the roofing industry overall. Visitors to the site continue to find excellent opportunities for sharing information while participating in important ongoing conversations concerning new technologies, safety and the overall roofing trade. From the rooftop to the board room, RoofersCoffeeShop.com is “Where the Industry Meets!” For more information, visit www.rooferscoffeeshop.com. 

About QXO 

QXO is the largest publicly traded distributor of roofing, waterproofing, and complementary building products in the United States. The company plans to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. QXO is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit www.qxo.com for more information. 

Deal expected to be substantially accretive to QXO’s earnings.

QXO, Inc. (NYSE: QXO) today announced it has closed its previously disclosed acquisition of TopBuild Corp. The transaction significantly expands QXO’s scale and capabilities across the building products value chain. QXO now holds leadership positions in key building product categories in North America:

• #1 in insulation
• #2 in roofing
• #1 in waterproofing
• #1 or #2 in the lumber and building materials sector, in key geographies served

The company also announced that Alec Covington, TopBuild’s former chairman, joined QXO’s board of directors, effective immediately. Mr. Covington replaces Jared Kushner, who has resigned from the board of directors to focus on other commitments.

Brad Jacobs, chairman and chief executive officer of QXO, said, “By acquiring TopBuild, we’re broadening our product offering, adding installation capabilities and expanding our exposure to fast-growing end markets like data centers. By 2030, we expect to generate at least $300 million in annual synergies largely from procurement, pricing, and cross-selling, while applying TopBuild’s operational excellence across QXO. The transaction is expected to be highly accretive to earnings and advance our plan to build a world-class company with $50 billion in revenue. I’m grateful to Jared for his significant contributions to the company, and I’m pleased to welcome Alec to the Board.”

Under the terms of the merger agreement, former TopBuild shareholders will receive shares of QXO’s common stock or a combination of both cash and shares of QXO’s common stock based on their elections and subject to proration and the other terms and conditions in the merger agreement.

TopBuild’s shares will stop trading on the New York Stock Exchange.

About QXO

QXO is North America’s largest distributor and installer of insulation; second-largest distributor of roofing products; second-largest publicly traded distributor of lumber and building materials and largest distributor of waterproofing products. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenue within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

By Emma Peterson. 

We had a great time sharing stories and photos over social media with our roofing community!  

National Roofing Week is an annual event hosted by the National Roofing Contractors Association (NRCA) that aims to raise awareness of the roofing professionals who keep our communities safe and secure. The event also acts as a way to build community with other professionals, both near you and across the country.  

Participation in National Roofing Week is primarily conducted online by posting photos and videos through the #NationalRoofingWeek2026 hashtag. And NRCA has created themes for each day of National Roofing Week to guide posts.  

Sunday – Kickoff  

The week kicked off with posts about the importance of roofers. NRCA started everything with a post sharing the schedule for the week and some highlights from last year’s National Roofing Week! Here at The Coffee Shops™ we joined in the fun on all our social media pages, making sure to thank the coating installers, roofing professionals and contractors who make our community amazing. 

Monday – Signature projects 

For the Monday theme, NRCA invited National Roofing Week participants to share photos showcasing their company’s signature residential and commercial projects. There were too many amazing projects posted to put them all here, but some that stood out to us came from QXO, Sika and Eagle Roofing Products!  

QXO’s post was a carousel of some of their customers projects, including one from Toitures Scott, one from Nedlaw Group and one from RUHS in California. Likewise, Eagle Roofing Products’ post showcased signature projects featuring their concrete roof tiles from across the country.  

As for Sika, they took the opportunity to shine the spotlight on their 2025 Sika Project of the Year award winners, which includes stunning projects like the Samuel Oschin Air and Space Center project in Los Angeles, California and the South Station Tower project in Boston.  

Tuesday – Charitable projects 

The next day of National Roofing Week was all about giving back, and the National Women in Roofing (NWIR) Oregon Council stole the show with a free roof!

The replacement went to a community member in need, which is an incredible reminder of the power our industry has to do good.

They put it best in their post:  

Seeing contractors, manufacturers, distributors and industry partners come together with a shared purpose — without competition, without agendas, and focused solely on helping someone else — is truly inspiring. For one day, company names and logos took a back seat to teamwork, generosity and service. 

Projects like this showcase the heart of our industry. The relationships we build, the willingness to lend a hand, and the collective impact we can make when we work together are some of the best parts of being in roofing. 

NWIR extended huge thanks to industry partners, like Malarkey Roofing Products, ABC Supply, SRS Building Products, Owens Corning, Bliss Roofing and Raindrop Roofing NW, for making this incredible charitable project possible. 

Wednesday – Employee appreciation 

The midpoint of the week was all about the people who get things done – the employees that keep our industry moving. For this theme, the #NationalRoofingWeek2026 hashtag was flooded with pictures and appreciations for hardworking workers around the country. 

Drexel Metals posted some behind-the-scenes of their team hard at work, captioning it, “To everyone who continues to show up ready to learn, teach and push the industry forward: thank you. Your commitment is what drives stronger partnerships, better projects and continued progress year after year.” 

IKO Industries and CertainTeed also posted, shouting out the ROOFPROS who get the job done every day and recognizing the “craftsmanship, innovation, and dedication of the teams who help bring CertainTeed products and solutions to life” respectively.  

Thursday – Training and learning 

For Thursday, NRCA chose training as the theme, inviting contractors and companies to share the ways they keep learning and growing on the job. For this theme, GAF joined the party, sharing an incredible milestone from their GAF Roofing Academy – since 2020, the tuition-free program has helped more than 3,000 individuals find employment in the roofing industry!  

And this is just one of the many stories added to the #NationalRoofingWeek2026 hashtag! The Durable Restoration Company posted about the hard work their craftspeople put into their apprenticeship program and QXO shared how they connect their team with everything from stand downs to plant tours. 

Friday – Celebration 

And you can’t have National Roofing Week without taking the time to celebrate the amazing industry we are all a part of! For this theme, the Roofing Contractors Association of Texas (RCAT) took their followers on a trip down memory lane, sharing the “conferences, tournaments, regional events and industry gatherings where Texas roofing professionals connect, learn and celebrate together.”  

Drexel Metals also posted, sharing a common sentiment of thanks related to the power of the industry, “From the shop floor to the jobsite, your dedication, craftsmanship and collaboration are truly what make a lasting impact. We’re proud to be part of an industry built on innovation, resilience and strong partnerships.” 

Saturday – Wrap up 

Overall, this year’s National Roofing Week was a resounding success. From everyone that posted to event sponsors like International Roofing Expo, Georgia-Pacific Building Products, SRS Distribution, Roofing Alliance and SOPREMA, it was all made possible thanks to the incredible roofing community.  

The Coffee Shops crew already can’t wait for next year’s roofing week! As Atlas Roofing put eloquently in their final #NationalRoofingWeek2026 post, “This week gave us the opportunity to celebrate the people, organizations and partnerships that make the roofing industry such a rewarding one to be part of. Here’s to another year of collaboration, innovation and success.” 

CEO of Rejoice and Restore LLC in Naugatuck, Connecticut, voted grand prize winner, earning $10,000.

QXO, Inc. (NYSE: QXO) today announced Vanessa Fusco, CEO of Rejoice and Restore LLC in Naugatuck, Connecticut, as the winner of its 2026 North American Female Roofing Professional of the Year campaign, a national program that recognizes exceptional women working in the roofing industry across the U.S. and Canada. As this year’s honoree, Fusco earns $10,000 and tickets to the 2027 National Women in Roofing Days and the International Roofing Expo.

Now in its sixth year, the program shines a spotlight on female roofing professionals who are making a difference through innovation, mentorship, safety and a commitment to excellence in their field. Fusco won in a nationwide public vote against four other accomplished finalists.

Fusco built Rejoice and Restore from the ground up. Since completing its first project in 2024, the company has quickly scaled to multi-million-dollar revenue. Fusco leads with a mission-driven approach, creating opportunities for individuals in recovery while delivering strong business results. Her leadership blends operational excellence with a deep commitment to community impact.

“The roofing industry is stronger because of women like Vanessa leading it,” said QXO Chief Human Resources Officer Josephine Berisha. “She and this year’s finalists are setting the standard for what leadership in this industry looks like.”

The four other finalists who will each receive funding to support their professional development are:

• Jennifer George, co-founder and CEO, Northern Arizona Roof Services, Flagstaff, Arizona
• Lauren Marsh, president, Ridgeline Construction HSV, Inc., Athens, Alabama
• Kathleen Maxwell, CEO, Maxwell Roofing & Sheet Metal, Inc., Nashville, Tennessee
• Stacey Oakley, chief of staff, ProFormance Builder Solutions, Winter Garden, Florida

“It’s an honor to accept this award on behalf of the incredible women who are changing the roofing industry,” Fusco said. “I’m proud to share this recognition with the women who mentored me, the team that shows up every day and the customers who trust me with their most important investment. I hope our work inspires more women to pursue careers in roofing and other areas of building materials.”

This year’s finalists were selected from over 2,000 nominations across the U.S. and Canada. The finalist committee included QXO executives, prior winners and female industry leaders who reviewed submissions.

To learn more about QXO’s annual Female Roofing Professional of the Year program, the finalists and the program rules, visit: go.qxo.com/femaleroofpro.

About QXO

QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

By Jenny Yu.  

The SkillsUSA 2026 Championship will connect students, educators, contractors and manufacturers through hands-on skilled trades competitions. 

After a year of honing their skills and participating in local competitions, students from across the country are set to compete at the culminating event: the SkillsUSA 2026 Championship. Taking place at the Georgia World Congress Center in Atlanta from June 1-5, 2026, the event brings together more that 6,700 state champions competing across 114 skilled and leadership contests as part of the broader National Leadership & Skills Conference (NLSC). 

On top of providing the platform for students to compete and showcase their talent, the SkillsUSA program builds the next generation of skilled professionals and elevates the value of careers in the trades. Roofing continues to expand its presence at the event as students can explore career opportunities and compete in roofing-related challenges including Commercial Roofing and Teamwork. According to the National Roofing Contractors Association (NRCA), the competitions are designed to connect career and technical education students with real-world industry opportunities while helping address the skilled labor shortage facing roofing contractors nationwide. 

Here at RoofersCoffeeShop®, we are excited to be a sponsor of the NRCA Roofing Pavilion, the event’s central hub for students and CTE teachers to connect with industry professionals on training and career opportunities.  

Additional sponsors supporting the NRCA booth include ABC Supply, Central States Manufacturing, Georgia-Pacific Building Products, Johns Manville, Elevate™, IB Roof Systems™, Leister, National Roofing Partners, National Women in Roofing (NWIR), QXO, Roofing Alliance, Roofing Technology Think Tank (RT3), SRS Distribution and TAMKO®. This robust participation reflects industry-wide collaboration to help SkillsUSA continue to grow as a pipeline for skilled professionals entering the trades. 

The SkillsUSA Championships have become a critical recruiting and education platform for the roofing industry. NRCA notes if even 5% of SkillsUSA students entered roofing careers, the industry could gain more than 5,000 new workers annually. 

To learn more about the 2026 SkillsUSA Championships, the Roofing Pavilion and ways to get involved, visit the SkillsUSA and NRCA websites. We hope to see you there! 

The public can vote for the finalists now through May 29 at go.qxo.com/frpoty-vote-2026.

QXO, Inc. (NYSE: QXO) today announced the five finalists in its sixth annual North American Female Roofing Professional of the Year campaign, which invites the public to vote for exceptional women working in the roofing industry across the U.S. and Canada. The winner will receive $10,000 USD and tickets to 2027 NWIR Days and IRE. Four finalists will receive $1,000 USD.

Now in its sixth year, the program shines a spotlight on female roofing professionals who are making a difference through innovation, mentorship, safety and a commitment to excellence in their field. These finalists represent the future of roofing across North America.

The five 2026 finalists are:

• Vanessa Fusco, CEO, Rejoice & Restore LLC, Naugatuck, Connecticut
• Jennifer George, Co-Founder and CEO of Northern Arizona Roof Services, Flagstaff, Arizona
• Lauren Marsh, President, Ridgeline Construction HSV, Inc., Athens, Alabama
• Kathleen Maxwell, CEO, Maxwell Roofing & Sheet Metal, Nashville, Tennessee
• Stacey Oakley, Chief of Staff, ProFormance Builder Solutions, Winter Garden, Florida

“We’re proud to recognize the outstanding women who are strengthening the roofing industry through leadership, innovation and dedication to their communities,” said QXO chief human resources officer Josephine Berisha. “We received many outstanding nominations of accomplished women throughout the industry, so our five finalists should be very proud of making it to the public voting stage."

This year’s finalists were selected from over 2,000 nominations across the U.S. and Canada. A panel of judges, including QXO executives, prior winners and female industry leaders, reviewed submissions and selected five finalists. Public voting is open from May 20 through May 29, 2026, at go.qxo.com/frpoty-vote-2026.

The grand-prize winner and runners-up will be announced on June 3, 2026, with all receiving funding for professional growth and being highlighted as industry role models.

About QXO

QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO-Canada.com for more information.

NAHICA y QXO trabajarán juntos para crear nuevos caminos hacia el crecimiento, prestigio y éxito de los contratistas hispanos.

QXO, Inc. (NYSE: QXO) anunció el día de hoy que se ha unido a la Asociación Nacional de Contratistas Hispanos (NAHICA, por sus siglas en inglés para National Hispanic Contractors Association) como patrocinador nacional, para reforzar el compromiso conjunto de empoderar a contratistas latinos de todos los Estados Unidos.

Esta colaboración define un paso muy importante en la misión de QXO de impulsar a los profesionales hispanos en las industrias de la construcción. Con el apoyo de QXO, NAHICA ampliará sus esfuerzos de ofrecer capacitación, recursos y oportunidades de negocios creadas específicamente para las necesidades de los contratistas latinos, uno de los segmentos con más rápido crecimiento en la fuerza de trabajo de la construcción en los Estados Unidos.

“Contar con QXO como patrocinador nacional logrará un impacto considerable, ya que creará la posibilidad de que nuestra comunidad de contratistas latinos tenga la facilidad de obtener acceso a capacitación, crecimiento y éxito,” dijo Sergio Terreros, presidente de NAHICA. “Su compromiso está alineado con nuestra misión, que es ofrecer oportunidades y fortalecer las redes entre profesionales hispanos de la industria de la construcción.”

“Este patrocinio demuestra el compromiso que tiene QXO con la comunidad de contratistas latinos por la importante labor que llevan a cabo,” mencionó Bernal Fernández, gerente de mercadotecnia hispana de QXO. “Los contratistas hispanos representan una fuerza vital que sigue creciendo en las industrias del techado y la construcción, y junto con NAHICA, podemos garantizar que ellos tengan acceso a las herramientas, redes y recursos que necesitan para construir un futuro más sólido.”

NAHICA y QXO trabajarán juntos para crear nuevos caminos hacia el crecimiento, prestigio y éxito de los contratistas hispanos, al ayudarles a prosperar en un ambiente cada vez más competitivo, mientras continúan contribuyendo al desarrollo continuo de las comunidades de todo el país.

QXO tiene un extenso historial de apoyo a los contratistas hispanos, y reconoce el papel tan importante que desempeñan en la industria de la construcción.

Acerca de QXO

QXO, Inc. (NYSE:QXO) es el mayor distribuidor de productos para techado, impermeabilidad y productos relacionados y el segundo distribuidor más grande de madera y materiales de construcción que cotiza en la bolsa de valores en Norteamérica. “QXO es la empresa de más rápido crecimiento en la industria de distribución de productos de construcción, valorada en 800 mil millones de dólares, y planea convertirse en el líder impulsado por la tecnología al ofrecer una satisfacción al cliente de primer nivel y rendimientos superiores para sus accionistas. La empresa tiene como objetivo alcanzar 50 mil millones de dólares en ingresos anuales dentro de la próxima década mediante adquisiciones estratégicas y crecimiento orgánico.”

Acerca de NAHICA

La Asociación Nacional de Contratistas Hispanos (NAHICA, por sus siglas en inglés para National Hispanic Contractors Association) está dedicada a empoderar a los contratistas hispanos por medio de la defensas de sus intereses, capacitación y el desarrollo de sus negocios. La organización trabaja para crear oportunidades, fortalecer redes y apoyar el crecimiento de los profesionales latinos de la industria de la construcción.

Together, NAHICA and QXO will work to create new pathways for growth, visibility and success for Hispanic contractors

QXO, Inc. (NYSE: QXO) today announced it has joined the National Hispanic Contractors Association (NAHICA) as a national sponsor, reinforcing a shared commitment to empowering Latino contractors across the United States.

The partnership marks a significant step in QXO’s mission to elevate Hispanic professionals in the building products industry. With QXO’s support, NAHICA will expand its efforts to provide education, resources and business opportunities tailored to the needs of Latino contractors, one of the fastest-growing segments in the U.S. construction workforce.

“Having QXO as a national sponsor will make a significant impact on our community’s ability to create access, growth and long-term success for Latino contractors,” said Sergio Terreros, president of NAHICA. “Their commitment aligns with our mission to provide opportunities and strengthen networks for Hispanic professionals in the construction industry.”

“This sponsorship reflects QXO’s commitment to the Latino contractor community and the important work they do,” said Bernal Fernandez, Hispanic marketing manager at QXO. “Hispanic contractors are a critical and growing force in the roofing and construction industries, and together with NAHICA, we can ensure they have access to the tools, network and resources needed to help build a stronger future.”

Together, NAHICA and QXO will work to create new pathways for growth, visibility and success for Hispanic contractors, helping them thrive in an increasingly competitive landscape while contributing to the continued development of communities nationwide.

QXO has a strong history of supporting Hispanic contractors, recognizing the important role they play in the construction industry.

About QXO

QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth.

About NAHICA

The National Hispanic Contractors Association (NAHICA) is dedicated to empowering Hispanic contractors through advocacy, education and business development. The organization works to create opportunities, strengthen networks and support the growth of Latino professionals in the construction industry.

QXO to become the second largest publicly traded building products distributor in North America, with more than $18 billion of combined company revenue and more than $2 billion of combined company adjusted EBITDA.

QXO, Inc. (NYSE: QXO) today announced that it has entered into a definitive agreement to acquire TopBuild Corp. (NYSE: BLD) (“TopBuild”) for approximately $17 billion, significantly expanding QXO’s scale and capabilities across the building products value chain. The transaction is expected to be immediately and substantially accretive to the company’s earnings.

TopBuild is the largest distributor and installer of insulation and related building products in North America. The combination will bring together QXO’s leading positions in roofing, waterproofing, lumber-related building materials and associated products with TopBuild’s insulation capabilities, creating a higher-margin business with expansive value-added offerings for customers.

The transaction has been unanimously approved by the boards of directors of both companies and is subject to customary closing conditions, including approval by the shareholders of TopBuild and QXO. The acquisition is expected to close in the third quarter of 2026.

On April 1, 2026, QXO completed its previously announced acquisition of Kodiak Building Partners (“Kodiak”), a leading distributor of lumber, trusses and other building materials, for approximately $2.25 billion. Upon completion of the TopBuild transaction, QXO will operate in an addressable market of more than $300 billion and hold leadership positions in key building product verticals in North America:

• #1 in insulation
• #2 in roofing
• #1 in waterproofing
• #1 or #2 in the lumber and building materials sector, in key geographies served

Brad Jacobs, chairman and chief executive officer of QXO, said: “Over the past 11 months, we’ve built QXO into a market leader through more than $13 billion of acquisitions, closing on Beacon in 2025 and Kodiak earlier this month. TopBuild will be our most significant acquisition yet, making QXO the second largest publicly traded building products distributor in North America, with more than $18 billion of combined company revenue and more than $2 billion of combined company adjusted EBITDA.”

Jacobs continued, “The TopBuild transaction will also give us critical mass in the insulation sector and expand our exposure to large, complex projects like data centers, where scale matters. TopBuild has a deep bench of best-in-class operators, reflected in its industry-leading adjusted EBITDA margin of approximately 18%. We plan to replicate their best practices across QXO, including deploying their ‘special OPS’ teams to continuously improve operational excellence and customer service.”

Robert Buck, chief executive officer of TopBuild, said: “We’re excited to join QXO and combine our leadership in insulation installation and specialty distribution with QXO’s scale, technology and procurement capabilities. Together, we’ll enhance customer service, unlock meaningful cross-selling opportunities and drive continued growth and operating efficiency. I’m proud of our team’s track record, including a 10-year sales CAGR of 13% and adjusted EPS CAGR of 31%. Thank you to the entire TopBuild team for delivering these exceptional results.”

Following the acquisition of TopBuild, QXO will have approximately 28,000 employees, 1,150 locations across all 50 U.S. states and seven Canadian provinces, and a fleet size of more than 10,000 vehicles.

Proposed transaction

The transaction values each TopBuild share at $505, representing a premium of 19.8% to TopBuild’s 60-day volume-weighted average price and 23.1% to TopBuild’s closing price on Friday, April 17, 2026. Under the terms of the agreement, TopBuild stockholders will have the right to elect to receive $505 in cash or 20.2 shares of QXO common stock for each TopBuild share held, subject to proration, on the condition that the total transaction consideration is paid as approximately 45% in cash and 55% in shares of QXO common stock. The maximum cash proceeds will be capped in aggregate at 45% of the transaction consideration. QXO may increase the maximum amount of stock consideration in the transaction if TopBuild stockholders elect to receive more than 55% of the consideration in shares of QXO common stock. Under the terms of the agreement, QXO will expand its board of directors to include one nominee from TopBuild.

In 2025, TopBuild generated approximately $6.2 billion of net sales and approximately $1.14 billion of adjusted EBITDA, in each case adjusted to reflect the full year contribution of acquisitions completed throughout the year. QXO expects to realize approximately $300 million of synergies from the integration of TopBuild by 2030, including revenue synergies from cross-selling an expanded range of integrated solutions, as well as cost synergies from scaled procurement, network optimization, logistics efficiencies, inventory management improvements and world-class technology.

The purchase price of approximately $17 billion represents 14.9 times TopBuild’s 2025 adjusted EBITDA before the impact of expected synergies, and 11.8 times TopBuild’s 2025 adjusted EBITDA after the impact of expected synergies—in both cases adjusted EBITDA reflects the full-year contribution of acquisitions completed throughout 2025.

TopBuild’s management has guided to $9 billion to $10 billion in annual revenue and $1.7 billion to $2.0 billion in annual adjusted EBITDA by 2030, driven by a combination of organic growth and accretive M&A across a $90+ billion addressable market. Additionally, TopBuild management has guided to cumulative free cash flow of $4.2 billion to $5.0 billion from 2026 to 2030. TopBuild’s free cash flow conversion (free cash flow divided by adjusted EBITDA) has consistently been in the 60% to 70% range.

Advisors

Morgan Stanley & Co. LLC is acting as lead financial advisor to QXO, and Barclays and Wells Fargo Securities are acting as additional financial advisors to QXO. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal counsel to QXO. Goldman Sachs & Co. LLC and RBC Capital Markets are serving as financial advisors to TopBuild and Jones Day is acting as legal counsel to TopBuild.

View the investor presentation: https://www.netroadshow.com/nrs/home/?show=e496ea07

About QXO

QXO, Inc. (NYSE: QXO) is the largest publicly traded distributor of roofing, waterproofing and related products and the second largest publicly traded distributor of lumber and building materials in North America. QXO is the fastest growing company in the $800 billion building products distribution industry and plans to become the tech-enabled leader by delivering best-in-class customer satisfaction and outsized returns for its shareholders. The company is targeting $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth.

About TopBuild

TopBuild Corp., headquartered in Daytona Beach, Florida, is the largest distributor and installer of insulation and related building products in North America. The company provides installation and distribution services across residential, commercial and industrial end markets, including insulation used in walls, attics, floors and roofing assemblies; complementary products such as gutters, fireproofing and mechanical insulation; and specialized roofing systems for large-scale buildings such as airports, stadiums and warehouses. TopBuild operates more than 450 locations across the United States and Canada.

Non-GAAP Financial Measures

This communication includes references to financial measures that are prepared other than in accordance with generally accepted accounting principles in the United States (“GAAP”). These non-GAAP financial measures include, but are not limited to, combined company revenue, combined company adjusted EBITDA and adjusted EBITDA. We calculate combined company revenue by adding the 2025 revenue of QXO, Kodiak and TopBuild, in each case adjusted to reflect the full year contribution of acquisitions completed throughout the year. We calculate combined company adjusted EBITDA by adding the adjusted EBITDA of QXO, Kodiak and TopBuild, in each case further adjusted to reflect the full year contribution of acquisitions completed throughout the year, where adjusted EBITDA is calculated by each company as net (loss) income excluding depreciation; amortization; interest (income) expense, net; provision for (benefit from) income taxes; and certain other adjustments that are not considered representative of the applicable company’s underlying operations. Any non-GAAP financial measures used in this communication are in addition to, and should not be considered superior to, or a substitute for, financial statements prepared in accordance with GAAP. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures of other companies.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, the expected timing of the closing of the proposed acquisition, the anticipated benefits of the proposed acquisition, including synergies, and expected future financial position, total addressable market, positions in building product verticals and results of operations, are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described herein include, among others: (i) the risk that the proposed acquisition of TopBuild may not be completed on the anticipated terms in a timely manner or at all; (ii) the failure to satisfy any of the conditions to the consummation of the proposed acquisition, including the risk that the required shareholder approvals may not be obtained; (iii) the effect of the pendency of the proposed acquisition on each of QXO’s and TopBuild’s business relationships with employees, customers, or suppliers, or on operating results or the businesses generally; (iv) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the acquisition agreement for TopBuild, including circumstances that require the payment of a termination fee; (v) the possibility that the proposed acquisition may be more expensive to complete than anticipated, including as a result of unexpected factors or events, significant transaction costs or unknown liabilities; (vi) potential litigation and/or regulatory action relating to the proposed acquisition; (vii) the risk that the anticipated benefits of the proposed acquisition may not be fully realized or may take longer to realize than expected; (viii) the impacts of legislative, regulatory, economic, competitive or technological changes; (ix) QXO’s ability to finance the proposed acquisition; (x) unknown liabilities and uncertainties regarding general economic, market sector, competitive, legal, regulatory, tax and geopolitical conditions; and (xi) those risks and uncertainties set forth in QXO’s and TopBuild’s SEC filings, including each company’s Annual Report on Form 10-K for the year ended December 31, 2025 and any subsequent Quarterly Reports on Form 10-Q.

Forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. Neither QXO nor TopBuild undertakes any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Important Information for Investors and Stockholders

In connection with the proposed acquisition, QXO expects to file a registration statement on Form S-4 with the SEC containing a preliminary prospectus of QXO that also constitutes a preliminary joint proxy statement of each of QXO and TopBuild. After the registration statement is declared effective, each of QXO and TopBuild will mail a definitive joint proxy statement/prospectus to stockholders of QXO and TopBuild, respectively. This communication is not a substitute for the joint proxy statement/prospectus or registration statement or for any other document that QXO or TopBuild may file with the SEC in connection with the proposed acquisition. INVESTORS AND SECURITY HOLDERS OF QXO AND TOPBUILD ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the joint proxy statement/prospectus (when available) and other documents filed with the SEC by QXO or TopBuild through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by QXO will be available free of charge on QXO’s website at https://investors.qxo.com and copies of the documents filed with the SEC by TopBuild will be available free of charge on TopBuild’s website at https://www.topbuild.com/investors. Additionally, copies may be obtained by contacting the investor relations department of QXO or TopBuild.

Participants in the Solicitation

QXO and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from QXO’s stockholders in connection with the proposed acquisition. Information regarding QXO’s directors and its executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions “Security Ownership of Certain Beneficial Owners and Management,” “Executive Compensation,” and “Director Compensation” contained in QXO’s definitive proxy statement on Schedule 14A for QXO’s 2026 annual meeting of stockholders, which was filed with the SEC on March 24, 2026. To the extent holdings of QXO’s securities by its directors or executive officers have changed since the applicable “as of” date described in its 2026 proxy statement, such changes will be reflected on Statements of Beneficial Ownership on Form 4 filed with the SEC.

TopBuild and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from TopBuild’s stockholders in connection with the proposed acquisition. Information regarding TopBuild’s directors and its executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions “Common Stock Ownership of Officers, Directors and Significant Shareholders,” “Compensation Committee Report,” and “Director Compensation” contained in TopBuild’s definitive proxy statement on Schedule 14A for TopBuild’s 2026 annual meeting of stockholders, which was filed with the SEC on March 17, 2026. To the extent holdings of TopBuild’s securities by its directors or executive officers have changed since the applicable “as of” date described in its 2026 proxy statement, such changes will be reflected on Statements of Beneficial Ownership on Form 4 filed with the SEC.

The information regarding the interests of such participants in the solicitation of proxies in respect of the potential transaction will be included in the registration statement and joint proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available.

The acquisition of Kodiak triples QXO’s total addressable market to over $200 billion, placing QXO in nearly every major building products category.

QXO, Inc. (NYSE: QXO) today announced it has completed its acquisition of Kodiak Building Partners (“Kodiak”) from Court Square Capital Partners for approximately $2.25 billion, expanding QXO’s addressable market to more than $200 billion.

Brad Jacobs, chairman and chief executive officer of QXO, said, “By acquiring Kodiak, we’re providing our customers with a wider range of product offerings and value-added services. In addition, we expect the deal to be highly accretive to 2026 earnings and we remain on track to achieve our goal of $50 billion in annual revenue.”

Steve Swinney, co-founder of Kodiak and leader of QXO’s new LBM division, added, “Today marks a definitive capstone for Kodiak as we join QXO and become a part of the most exciting company in building products.”

Joe Checkler, senior vice president of communications of QXO, said, "Lumber was always part of QXO’s plan, and this gives us entree into that market. Lumber is crucially important because it’s the first point of entry to most projects."

Advisors 

Morgan Stanley & Co. LLC and Wells Fargo acted as financial advisors to QXO, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel. RBC Capital Markets and KeyBanc Capital Markets acted as financial advisors to Kodiak, and Dechert LLP served as legal counsel. 

About QXO

QXO is the fastest-growing publicly traded distributor of building products in North America. The company is executing its strategy to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for its shareholders. QXO expects to achieve its target of $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

About Court Square Capital Partners

Court Square is a middle market private equity firm with over 40 years’ experience. Since 1979, Court Square has completed over 245 platform investments and is focused on helping Founders, Families and Manager-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the industrial, business services, healthcare, and tech and telecom sectors. As of December 31, 2025, Court Square has $10.1 billion of assets under management and is based in New York, New York. For more information, please visit www.courtsquare.com.

Cautionary statement regarding forward-looking statements

This communication contains forward-looking statements. Statements that are not historical facts, including statements about beliefs, expectations, targets or goals, the anticipated benefits of the acquisition and expected future financial position and results of operations, are forward-looking statements. These statements are based on plans, estimates, expectations and/or goals at the time the statements are made, and readers should not place undue reliance on them. In some cases, readers can identify forward-looking statements by the use of forward-looking terms such as “may,” “will,” “should,” “expect,” “opportunity,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal” or “continue,” or the negative of these terms or other comparable terms. Forward-looking statements involve inherent risks and uncertainties and readers are cautioned that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statements. Factors that could cause actual results to differ materially from those described herein include, among others: (i) the risk that the anticipated benefits of the acquisition may not be fully realized or may take longer to realize than expected; (ii) the effect of the acquisition on QXO’s business relationships with employees, customers or suppliers, operating results and business generally; (iii) unexpected costs, charges or expenses resulting from the acquisition; (iv) potential litigation and/or regulatory action relating to the acquisition; (v) the impact of legislative, regulatory, economic, competitive and technological changes; (vi) unknown liabilities and uncertainties regarding general economic, business, competitive, legal, regulatory, tax and geopolitical conditions; and (vii) the risks and uncertainties set forth in QXO’s filings with the Securities and Exchange Commission, including each company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Forward-looking statements should not be relied on as predictions of future events, and these statements are not guarantees of performance or results. Forward-looking statements herein speak only as of the date each statement is made. QXO does not undertake any obligation to update any of these statements in light of new information or future events, except to the extent required by applicable law.