Gxo Logistics Inc ( (GXO) ) has released its Q3 earnings. Here is a breakdown of the information Gxo Logistics Inc presented to its investors.
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GXO Logistics, Inc. is the world’s largest pure-play contract logistics provider, focusing on automation and ecommerce solutions for supply chain management. In its third quarter of 2024, GXO Logistics reported a record revenue of $3.2 billion, marking a 28% increase year over year. The company also achieved significant new business wins totaling $750 million year to date, with a strong sales pipeline valued at $2.4 billion.
Key financial highlights include a rise in adjusted EBITDA to $223 million, up from $200 million in the previous year, and adjusted diluted earnings per share of $0.79 compared to $0.69. Despite the revenue growth, net income fell to $35 million from $68 million a year prior, and free cash flow decreased to $110 million from $191 million.
GXO’s strategic focus on ecommerce is evident, with over half of its new business wins in the quarter coming from e-fulfillment. The company further expanded its footprint by opening the largest ecommerce warehouse in France. Looking ahead, GXO reaffirmed its full-year guidance for 2024, expecting organic revenue growth between 2% and 5% and adjusted EBITDA ranging from $805 million to $835 million.
As GXO continues to capitalize on trends in supply chain complexity, ecommerce, and automation, the company remains optimistic about its prospects for sustained growth and profitability in the coming years.
