Welcome to our dedicated page for Gxo Logistics Incorporated news (Ticker: GXO), a resource for investors and traders seeking the latest updates and insights on Gxo Logistics Incorporated stock.
GXO Logistics, Inc. (NYSE: GXO) is frequently in the news as it describes itself as the world’s largest pure-play contract logistics provider, serving blue-chip customers with large-scale supply chain and ecommerce solutions. This news page aggregates company announcements, earnings updates and operational developments that GXO releases through channels such as GlobeNewswire and SEC filings.
Investors and industry observers can use this feed to follow GXO’s quarterly earnings results, conference call schedules and financial guidance, which the company often discusses alongside metrics like organic revenue growth, adjusted EBITDA and free cash flow. The news stream also covers financing activities, including the company’s inaugural European bond offering through GXO Logistics Capital B.V., where it issued €500 million of 3.750% senior unsecured notes due 2030 to refinance upcoming maturities.
Beyond financial updates, GXO’s news highlights strategic and operational milestones. Recent releases describe the acquisition and integration of Wincanton, expansion of aerospace and defense logistics capabilities such as EN 9120 certification for its multi-user facility in Dormagen, Germany, and renewals of key customer partnerships like its long-term agreement with Dolce&Gabbana Beauty in Italy. The company also reports on organizational changes, including the appointment of a new chief executive officer, the creation of a chief operating officer role, and new leadership for its commercial and regional operations.
Readers can expect coverage of sector-specific developments in aerospace and defense logistics, fashion and beauty supply chains, and broader contract logistics trends as reflected in GXO’s own communications. For anyone tracking GXO’s strategy, capital structure, leadership and global logistics footprint, this news page offers a centralized view of the company’s publicly released updates over time.
GXO Logistics has announced the extension of its partnership with Groupe SEB, enhancing their logistics capabilities in the U.K. and Ireland. The collaboration, ongoing since 2008, focuses on providing additional warehouse space and technology to support Groupe SEB's growth. With a dedicated space of 220,000 square feet, GXO manages up to 6,500 items daily, improving cost efficiency and stock accuracy. Upcoming automation enhancements, like autonomous mobile robots and wearable scanners, will further optimize operations. Groupe SEB generated €8 billion in sales in 2021 and operates in over 150 countries.
GXO Logistics (NYSE: GXO) held its first Investor Day on January 12, 2023, showcasing its strategic roadmap to achieve financial targets by 2027. The company anticipates an 8-12% organic revenue CAGR, aiming for around $17 billion in revenue and nearly tripling adjusted EBITDA to approximately $1.6 billion. Preliminary results for 2022 suggest total revenue of $9.0 billion and a net income between $189 million to $199 million. For 2023, GXO projects organic revenue growth between 6% to 8% and adjusted EBITDA of $700 million to $730 million.
Summary not available.
GXO Logistics has deployed the BD RowaTM Vmax robots to create a fully automated logistics loop for a major telecommunications provider.
This comes after a successful pilot in 2022, with plans to install 39 robots to enhance reverse logistics capabilities.
GXO aims to reduce costs, improve accuracy, and shorten cycle times through this partnership with BD Rowa, leveraging advanced automation to track and manage mobile phone returns effectively.
GXO, the leading contract logistics provider, is set to deploy over 7,600 pieces of advanced technology by year-end 2022, marking a 50% increase from 2021. This includes collaborative robots and automated guided vehicles to enhance operational efficiency, especially during peak holiday seasons. The company aims to boost safety and reduce costs for clients amidst rising inflation. With more than 30% of revenue from automated sites, GXO is focusing on technological innovations to gain market share and improve customer partnerships.
GXO Logistics announced its Q3 results, reporting a 16% year-over-year revenue increase to $2.3 billion. Net income stood at $63 million, with adjusted EBITDA of $192 million. The company reiterated its 2022 guidance, projecting organic revenue growth of 12-16% and adjusted EBITDA between $715-$750 million. Year-to-date, GXO has secured $977 million in new contracts and anticipates nearly $497 million in incremental revenue for 2023. Regulatory approval for the acquisition of Clipper Logistics has been received, with integration already in progress.
GXO Logistics has expanded its partnership with Floyd, a furniture designer, by increasing warehouse space to 120,000 square feet in Horn Lake, Mississippi. This agreement aims to enhance logistics operations for picking, packing, and managing returns, ultimately improving consumer experience for Floyd. GXO Direct will provide real-time inventory visibility and support efficient operations, which is critical for managing growth in a competitive market. The collaboration reflects GXO's strategic approach to cost-effective logistics solutions, advancing sustainability by reducing transportation impact.
GXO Logistics (NYSE: GXO) announced plans to open a new 646,000-square-foot distribution facility in Heerlen, Netherlands, by 2024, expanding its partnership with JD Sports. This facility will serve as a central logistics hub for JD Sports across Continental Europe, potentially creating over 1,500 jobs. Designed to meet BREEAM “Very Good” standards, it will utilize solar panels for renewable energy, benefiting both the facility and local households.
GXO Logistics plans to hire over 22,000 team members by the end of 2022 to bolster its global warehouse operations amid record customer growth and peak holiday demands. With a focus on the busy return season extending into January 2023, GXO emphasizes its leadership in reverse logistics, processing approximately 170 million returns annually. The company aims to fill various roles across multiple countries, offering competitive compensation and benefits to prospective employees.
GXO Logistics (NYSE: GXO) will host its third quarter conference call on November 9, 2022, at 8:30 a.m. ET, following the results release after market close on November 8, 2022. Investors can access the call via toll-free numbers and a live webcast on the company’s investor relations page. A replay will be available until November 23, 2022. GXO, the largest pure-play contract logistics provider, is capitalizing on the growth in ecommerce and automation with over 130,000 employees across approximately 950 facilities worldwide.
FAQ
What is the current stock price of Gxo Logistics Incorporated (GXO)?
What is the market cap of Gxo Logistics Incorporated (GXO)?
