Story updated Oct. 31, 2025, at 3:30 p.m. EST to add additional interest rate data. 

QXO, Inc. has completed the refinancing of its Term Loan B, securing a more favorable interest rate following the release of preliminary third-quarter financial results.

The refinancing, initially announced as subject to market and other conditions, has now been finalized. The new terms reduce the loan’s interest rate from SOFR + 300 basis points to SOFR + 200 basis points, lowering borrowing costs by 1 percentage point. Based on the loan’s $850 million size, the refinancing is expected to save QXO approximately $8.5 million annually through the loan’s maturity in 2032.

The loan was originally issued just before QXO’s $10.6 billion acquisition of Beacon in April 2025. Under the terms of that agreement, QXO was required to wait six months before exercising its right to refinance.

When companies refinance their debt before reporting their quarterly earnings, they typically release a few key numbers ahead of time, allowing investors to make informed decisions.

As part of the refinancing announcement, QXO also released preliminary financial results for the third quarter ended Sept. 30, 2025. The company reported net sales of $2.73 billion and a net loss of $139 million. QXO provided preliminary financial information for its third quarter. QXO expects to file its quarterly report on Form 10-Q for the quarter ended Sept. 30, 2025, on Nov. 6, 2025. A QXO spokesperson said this loss is due to the transaction costs related to the $10.6 billion acquisition of Beacon earlier this year.

The company is predicting net sales of $2.73 billion for Q3. Adjusted net income attributable to common stockholders is estimated ot be $121 million, while the adjusted EBITDA is expected to be $302 million.

Other preliminary figures include cash and cash equivalents of $2.3 billion and $3.1 billion in debt, excluding finance lease obligations.Total net debt is expected to remain consistent following the refinancing.

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In a tough macro environment impacted by price increases and tariffs, QXO beat out Bloomberg consensus analyst estimates of its key metrics for revenue and EBITDA. It also saw a modestly higher adjusted earnings per share, which came out at $0.14 instead of the estimated $0.12.

As previously reported, QXO is using the artificial intelligence-driven transformation strategy driven by CEO Brad Jacobs to create operational efficiencies. The company identified about $200 million in pricing leakage caused by outdated systems. Jacobs said this tech-forward approach is delivering "double-digit productivity gains."

"The building products distribution industry is way behind on tech," Jacobs told investors during a Q&A session earlier this year. "We've seen companies running dozens of ERPs with outdated systems, manual processes, and limited inventory visibility."

QXO reiterated that financial results for the third quarter are preliminary, unaudited and subject to completion, and may change as a result of management’s continued review.