QXO targets $50 bln in annual revenue within the decade
Company aims to more than double EBITDA by 2030
QXO says technology upgrades and recent acquisitions expected to support future growth
Overview
US building products distributor's Q2 revenue rose and beat analyst expectations
Adjusted diluted EPS for Q2 was $0.08, down from $0.11 a year ago
Company reported Q2 net loss of $55 mln, citing market conditions and tech upgrades
Result drivers
Kodiak acquisition - Q2 net sales included $595 mln from Kodiak Building Partners, acquired April 1
Technology upgrades - Co cited ongoing technology upgrades and transformation initiatives as a focus during the quarter
Analyst coverage and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction supplies & fixtures peer group is "buy"
QXO•
