Pre-earnings brief
Reports
Thu, Nov 5, 2026
Est. EPS
—
Est. revenue
—
Implied move
±14.3%
EPS beat rate
43%
QXO, Inc. operates in the industrials sector, focusing on trading and distribution. With a market cap of $12 billion, the company plays a crucial role in supply chain management, which is vital as global trade and consumer spending continue to evolve.
Last quarter
In Q2 2026, QXO reported an EPS of $0.08, slightly below the expected $0.09, resulting in a minor stock decline. The company continues to face challenges in meeting analyst expectations, as seen in previous quarters.
EPS beat streak
0Q
EPS beat rate
43%
Avg EPS surprise
+49.66%
Avg 1-day reaction
-0.42%
Overall, investors are cautious ahead of QXO's earnings report, given the company's recent performance and lack of analyst estimates. The market is watching closely for any signs of improvement.
Bull case
If QXO can exceed EPS expectations and show strong revenue growth, it may signal a turnaround and boost investor confidence.
Bear case
Conversely, if QXO continues to miss expectations, it could lead to further declines in stock price and investor sentiment.
The print will turn on these.
Q1
Will QXO's EPS exceed $0.09 this quarter?
A positive EPS surprise could indicate improved operational efficiency and boost investor confidence.
Q2
What is the outlook for revenue growth in the upcoming quarters?
Revenue growth is critical for the company’s long-term viability, and any guidance will be closely scrutinized.
Est. EPS
$1.98
Est. Rev
$113.6B
Impl. Move
±4.0%
Why consensus could be wrong
The market may be underestimating QXO's potential for operational improvements and cost management, which could lead to better-than-expected results.
Supporting evidence
Despite recent misses, QXO has shown a capacity for significant positive surprises in the past.
The current options pricing suggests heightened volatility, indicating that traders are anticipating a significant shift.
The company's historical performance shows a pattern of recovery following disappointing quarters.
Key risk
If QXO's EPS exceeds $0.09, it could challenge the current bearish sentiment.
Pre-commit to what would confirm each case.
This quarter's performance is pivotal as it follows a trend of missed expectations, and any deviation could shift market sentiment significantly.
Bull confirmed if
An EPS of $0.10 or higher would confirm the bull case and indicate a positive trend in profitability.
Bear confirmed if
An EPS below $0.08 would reinforce the bear case, suggesting ongoing challenges in the business.
What the market is pricing for the move.
Implied Move
±14.27%
Historical Avg
±2.7%
The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings announcement.
Options are pricing ±14.3% while QXO has averaged ±2.7% over the last 7 prints — setup is pricing rich.
ATM IV
0.6%
30d HV
48.6%
Smart-money positioning from the most recent 13F filings.
Institutional
89.56%
of float
Insider
0.22%
of float
Holders
812
institutions
Top Holders· as of Jun 2026
Morgan Stanley
86,495,549 sh · $978.3M
8.34%
15.9%
Likely market behavior by outcome. Not investment advice.
Beat & raise
If QXO beats expectations, history suggests a potential stock increase of around 1.38%, confirming a positive turnaround.
In line / cautious
If results are in line but cautious, the stock may experience muted movement as investors await clearer guidance.
Miss
A miss could lead to a decline of about 2.82%, further eroding investor confidence in the company's recovery.
The lines on the call that would change the story.
Orbis Allan Gray Ltd
73,951,325 sh · $836.4M
7.13%
Flat
Invesco Ltd.
48,108,252 sh · $544.1M
4.64%
26.2%
BAILLIE GIFFORD & CO
47,867,886 sh · $541.4M
4.61%
251.3%
Blackrock Inc.
46,536,649 sh · $526.3M
4.49%
84.1%
13F filings updated quarterly. Position deltas show change in shares vs. the prior quarter.