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GXO reports second quarter 2023 results

Greenwich, USA  |  agosto 02, 2023

Lo más destacado

  • Second quarter revenue grew 11% year over year to $2.4 billion, and organic revenue1 grew 3%
  • Net income attributable to GXO grew 27% to $65 million; operating income increased by 68%; operating margins improved by 140 bps; adjusted EBITDA1 grew to $190 million; diluted EPS increased to $0.54, and adjusted diluted EPS1 to $0.70
  • Raised full-year 2023 profit guidance:
    • Adjusted diluted earnings per share1 raised $0.05 to $2.45-$2.65
    • Adjusted EBITDA1 raised $10 million to $725-$755 million
  • Reiterated 2023 guidance for organic revenue growth1 and free cash flow conversion1

Business Highlights

  • Signed record new business wins of nearly $500 million
  • Secured incremental 2023 revenue from new business wins of $844 million through the second quarter; won a further $457 million in 2024 revenue
  • Grew sales pipeline year over year to $2.1 billion
  • Released 2022 ESG Report; reduced Scope 1 and 2 emissions 17% since 2019; on track to achieve environmental targets
  • Created Chief Automation Officer role to accelerate technology deployment

GXO Logistics, Inc. (NYSE: GXO) today announced results for the second quarter 2023.

Malcolm Wilson, Chief Executive Officer of GXO, said, “We’re pleased to have delivered an exceptional performance in the second quarter, including double-digit top- and bottom-line growth. We increased our market share in the quarter, and we raised our 2023 profit guidance. We’re one of the few companies in our industry expecting to grow this year.

“Demand for GXO’s transformative solutions continues to accelerate: our record sales wins this quarter, together with our robust sales pipeline, position us for a strong 2024 and underpin our confidence in our long-term growth targets.

”We’re extremely proud that, in the two years since becoming a publicly traded company, we’ve delivered eight consecutive quarters of stellar operating results, signed hundreds of new partnerships with blue-chip customers, accelerated tech deployment, and established ourselves as the global brand for logistics excellence.”

Second Quarter 2023 Results

Revenue increased to $2.4 billion, up 11% year over year, compared with $2.2 billion for the second quarter 2022. Organic revenue grew by 3%.

Operating income increased to $99 million, up 68% year over year, compared with $59 million for the second quarter 2022.

Net income attributable to GXO was $65 million, up 27% year over year, compared with $51 million for the second quarter 2022. Diluted earnings per share was $0.54, up 23% year over year, compared with $0.44 for the second quarter 2022.

Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA1”) increased to $190 million from $176 million in the second quarter 2022.

Adjusted net income attributable to GXO1 was $84 million, compared with $79 million for the second quarter 2022. Adjusted diluted earnings per share1 was $0.70, compared with $0.68 for the second quarter 2022.

GXO generated $61 million of cash flow from operations, compared with $154 million for the second quarter 2022. In the second quarter of 2023, GXO generated $3 million of free cash flow1 compared to $68 million of free cash flow1 for the second quarter 2022.

Cash Balances and Outstanding Debt

As of June 30, 2023, cash and cash equivalents and debt outstanding were $305 million and $1.7 billion, respectively, as part of GXO’s investment grade balance sheet.

2023 Guidance

GXO’s current 2023 financial outlook is as follows:

  • Organic revenue growth1 of 6% to 8%;
  • Adjusted EBITDA1 of $725 million to $755 million (raised from $715 million to $745 million);
  • Free cash flow1 conversion of approximately 30% of adjusted EBITDA1; and
  • Adjusted diluted earnings per share1 of $2.45 to $2.65 (raised from $2.40 to $2.60).

Conference Call

GXO will hold a conference call on Thursday, August 3, 2023, at 8:30 a.m. Eastern Time. Participants can call toll-free (from US/Canada) 877-407-8029; international callers dial +1 201-689-8029. Conference ID: 13739294. A live webcast of the conference will be available on the Investor Relations area of the company’s website, investors.gxo.com. The conference will be archived until August 17, 2023. To access the replay by phone, call toll-free (from US/Canada) 877-660-6853; international callers dial +1 201-612-7415. Use participant passcode 13739294.

Sobre GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) es el mayor proveedor del mundo dedicado en exclusiva a contratos logísticos y se está beneficiando del rápido crecimiento del e-commerce, la automatización y la subcontratación. GXO se compromete a ofrecer un entorno de trabajo diverso y de primer nivel para sus cerca de 130.000 empleados en más de 970 centros logísticos, que suman cerca de 18.5 millones de metros cuadrados. La compañía trabaja con las empresas más importantes del mundo para resolver retos logísticos complejos mediante soluciones de cadena de suministro tecnológicamente avanzadas a escala y con rapidez. La sede social de GXO se encuentra en Greenwich, Connecticut (EEUU). VisitaGXO.com para más información y conecta con GXO en LinkedIn, Twitter, Facebook, Instagram y YouTube.

Contactos de comunicación

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