QXO Shares Jump 19% On Preliminary Q3 Results

Brad Jacobs, a billionaire entrepreneur, announced a $1 billion investment in CKX Lands, an oil, gas, and timber company, to launch his ninth firm. The deal, expected to close in 2027, will make CKX a public company. Jacobs will serve as CEO and chairman, while continuing to lead QXO, his fast-growing building-products distributor. CKX reported $839,000 in revenues last year, with Jacobs aiming to grow QXO to $50 billion in annual revenues within a decade.

QXO, Inc. (QXO) filed an SEC Form 8-K — Regulation FD Disclosure. EXHIBIT 99.1 Transcript: Brad Jacobs Conference Call Operator: Before we begin, the comments today will include forward-looking statements . Forward-looking statements are not guaranteed, and actual results may differ materially from those expressed or implied in forward-looking

Brad Jacobs, CEO of QXO, is acquiring CKX Lands, a small public company with natural resources assets, and investing $1B. QXO's stock rose 20.59% on the news. Jacobs plans to use a similar strategy as with QXO, but the target industry is undetermined. QXO reported adjusted EBITDA of $557M, up 85% YoY.

QXO's shares rose 20% after reporting preliminary Q3 revenue of $4.9B, up 79% YoY, exceeding estimates. The growth is attributed to acquisitions and strong performance in building products distribution, according to the company.

QXO (NYSE:QXO) shares rose 16.7% after CEO Brad Jacobs announced a new venture while continuing to lead QXO. The company reported 79% YoY sales growth, reaching nearly $5 billion in Q3, and aims for $50 billion annually. Jacobs' continued leadership and QXO's acquisitive strategy drove investor optimism.

QXO reported preliminary Q3 2026 net sales of $4.90B, up 79% YoY, and adjusted EBITDA of $557M, up 85% YoY. GAAP net loss was $123M, improved from $139M in Q3 2025. Results include contributions from recent acquisitions. Full results are expected November 12.