Gxo Logistics Incorporated Stock Price, News & Analysis

GXO Logistics (NYSE: GXO) has announced a groundbreaking deployment of collaborative robots, or cobots, in its Milton Keynes distribution center. This first-of-its-kind multi-tiered installation aims to enhance productivity and safety while optimizing space. The collaboration with 6 River Systems has resulted in a 40% increase in picking accuracy and an 80% reduction in new employee training time. GXO's investment in automation has led to a tripling of its cobot count year-on-year, positioning the company to meet increasing consumer demands in a rapidly growing market.

GXO Logistics (NYSE: GXO) has opened its fourth U.S. logistics hub in Atlanta to accommodate the increasing demand for at-home exercise equipment, in partnership with MYXfitness. This new distribution center is part of the GXO Direct network, enhancing operational efficiencies and reducing delivery times. GXO has significantly scaled its support for MYXfitness, increasing volumes by 300% in existing facilities. The Atlanta facility expands MYX’s operational footprint to over 86,000 square feet, aligning with GXO's commitment to sustainability and effective inventory management.

GXO Logistics (NYSE: GXO) has welcomed its 22^nd Down Syndrome hire through its partnership with the Down Syndrome Association's WorkFit programme. The initiative underscores GXO's commitment to diversity and inclusion. Cathy Earnshaw-Balding, GXO’s Diversity and Inclusion Champion, is set to speak at the World Down Syndrome Congress from November 18-21, 2021. The WorkFit programme aims to create tailored job opportunities for individuals with Down Syndrome, enriching the workplace experience for all employees. GXO's efforts are creating positive outcomes and fulfilling employment opportunities.

GXO Logistics reported third quarter revenue of $2.0 billion, a 24.6% increase from 2020, with net income of $72 million and adjusted EBITDA of $163 million.

The company generated $105 million in cash flow from operations and expects a $700 million revenue impact from new customer contracts in 2022. GXO's ESG rating was upgraded to 'AA' by MSCI. Furthermore, the company raised its FY21 revenue guidance to $7.6 billion - $7.8 billion and aims for 8%-12% organic growth in 2022.

GXO Logistics and Saks have launched a new e-fulfillment center in Middletown, Pennsylvania, aimed at enhancing luxury fashion shipping during the holiday season. This collaboration marks their first joint venture, enabling Saks to leverage GXO's advanced logistics solutions. The facility is designed to optimize efficiency with collaborative robots and features 400,000 square feet of space, employing over 350 people. The GXO Direct network aims to reduce shipping emissions and costs, crucial for accommodating increased e-commerce demand.

GXO Logistics announced plans to hire over 20,000 employees globally, including 9,000 in the U.S. and Canada, to prepare for the holiday season. This initiative comes as the company boosts its warehouse automation by 40% year-over-year, enhancing productivity and employee experience. With an aggressive recruitment drive, GXO aims to deploy 3,100 robots in North America by year-end 2021 and open nine new automated sites in the U.S. and three in Europe, responding to the e-commerce surge.

XPO Logistics (NYSE: XPO) will host its third quarter conference call on November 3, 2021, at 8:30 a.m. ET, following the release of its results after market close on November 2.

Call-in information includes a toll-free line for the US/Canada at 1-877-269-7756, with international callers using +1-201-689-7817. A live webcast will be available at www.xpo.com/investors. The replay will be accessible until December 3, 2021, via the same toll-free numbers.

GXO Logistics and Abercrombie & Fitch Co. announced a partnership to open a new 715,000-square-foot distribution center in Goodyear, Arizona, expected to be operational by late 2021. This facility will create over 300 jobs in the Phoenix area and enhance GXO's logistics capabilities for the West Coast. The center will be highly automated, incorporating AI and machine learning for efficient product distribution. This project reflects GXO's ongoing commitment to growth and innovation in logistics.