Latest news with #GXO
Yahoo
4 days ago
- Business
- Yahoo
GXO Sees Growth Opportunity in Reverse Logistics
GXO delivered its highest organic growth in nine quarters with a 6 percent increase as the company ushers in its new CEO. Total revenue when accounting for acquisitions and foreign exchange rates increased to $3.3 billion, up 16 percent year over year from $2.8 million in the year-ago quarter. Net income slowed to $26 million, down 32 percent from $38 million the year prior. More from Sourcing Journal Forward Air Reportedly at Center of Private Equity Bidding War US Warehouse Vacancies Hit Decade High as Tariff Fears Stall New Leasing Watchdog: US Shipbuilding Aid Programs Lack Clear Goals to Power Trump's Maritime Push Adjusted earnings were 57 cents per share, up from 55 cents last year and an improvement from the 55 cents expected by analysts from FactSet. The company also updated its guidance, revising its adjusted EBITDA range upwards by $5 million on the back and front ends. The metric is expected to come in at $865 million to $885 million. In a Tuesday earnings call, outgoing CEO Malcolm Wilson said GXO renewed and expanded contracts with two top customers in the quarter, with one being a multi-year agreement with H&M across multiple geographies. The third-party logistics (3PL) provider is also finalizing a nearly 20-year expansion of its business with a top-15 U.S. retailer, he said. More than half of year-to-date contract wins (51 percent) are coming from new activity, which is a vastly different makeup compared to 2024's 29 percent. Last year, 46 percent of contract wins were won from competitors, compared to just 26 percent this year. Wilson said the shift, particularly in the second quarter, was due to strong momentum in e-commerce. Levi's, Puma and Zalando are among the businesses that have teamed up with GXO on e-commerce automation projects. According to Wilson, more than half of the wins came from e-commerce sellers. Wilson also highlighted what he called 'outsized' growth in reverse logistics, which now represents over 10 percent of GXO's current pipeline. Reverse logistics also accounts for a similar 'high-single-digit, low-double-digit' percentage of revenue, according to Kristine Kubacki, GXO's chief strategy officer. Kubacki said the new e-commerce wins are driving the reverse logistics demand. The company is presently leveraging AI to enhancing reverse logistics capabilities and drive future growth opportunities. 'About a third of e-commerce orders are returned on average, which really reflects the material drag on our customers' margins,' Kubacki said. 'We can help unlock with AI the opportunity to rapidly resell products and help our customers unlock further margins. We're actually using that same tool that we've used on the inbound side around proactive replenishment on the back-end side for reverse logistics.' GXO's growth across its business comes as the Stamford, Conn.-based company is seeing some changes at the top. DHL Supply Chain veteran Patrick Kelleher, the CEO-in-waiting to replace Wilson, will take on the role starting Aug. 19. Wilson won't be the only high-ranking member who is making his exit, with GXO unveiling Tuesday that chief financial officer Baris Oran plans to step down from his role. The company did not give a timeline for Oran's exit, but the company said he would remain in the role until a successor is named to ensure a smooth transition. The company has also seen an influx of seven new board members since May, with five of them newly elected at the firm's annual shareholder meeting. Two more were appointed on July 31. GXO has 10 board members in total, three of whom were reelected at the meeting. Wilson said in the call that it was too soon to think about how the future of the company will play out amid the overhaul. 'We have to give Patrick time to get to know the company, and also our new board members time to acclimatize to GXO,' Wilson said. 'I'm sure that things will start to unfold as we start the planning process for 2026 and beyond.' The logistics company is currently implementing a new ERP system across its three main geographic regions, with 'phase two' of the deployment already going live in the U.K. This software deployment is set to take place in the U.S. next, before it will be extended to continental Europe, Oran said during the call. During the quarter, GXO got the regulatory go-ahead from the U.K. to move forward with its $965 million acquisition of Wincanton. GXO must divest some of Wincanton's grocery contracts in the U.K. as part of the approval. And in June, the contract logistics provider launched GXO IQ, a technology that leverages a suite of proprietary AI algorithms that can orchestrate millions of complex, multi-step actions across inventory distribution and movement, order picking and packing, shipping, and staffing.
Wall Street Journal
6 days ago
- Business
- Wall Street Journal
GXO Logistics Posts Higher Second-Quarter Revenue on New Contracts
GXO Logistics GXO 1.05%increase; green up pointing triangle posted higher second-quarter revenues on new supply-chain contracts ahead of leadership changes this month. The supply-chain company reported $26 million in net income, or 23 cents a share, down from $38 million, or 32 cents a share, a year earlier.
Yahoo
04-08-2025
- Business
- Yahoo
GXO Strengthens Aerospace Business with RTX's Pratt & Whitney Contract Renewal in the U.S.
GXO has managed Pratt & Whitney's warehouse operations in Oklahoma City since 2018 GREENWICH, Conn., Aug. 04, 2025 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world's largest pure-play contract logistics provider, today announced the renewal of its agreement with Pratt & Whitney, an RTX business. GXO will continue to provide warehouse and HMC management out of Pratt & Whitney's operations facility in Oklahoma City, Okla., the business's largest military engines field location. 'For the past seven years, we have worked hand-in-hand with Pratt & Whitney to develop and execute a more efficient logistics operation for the business's engine 'Maintenance, Repair and Overhaul,' or MRO, team,' said Jorge Guanter, President, Americas and Asia Pacific, GXO. 'Together, we have implemented aerospace solutions that increase inventory accuracy, streamline the order receiving process and accelerate kit order packing. We are excited to extend our work with Pratt & Whitney and look forward to unlocking new opportunities for the business's Oklahoma City operation.' GXO provides material handling, kitting and inventory management for aircraft engine parts and related non-products, as well as shuttle transportation services for Pratt & Whitney. The Oklahoma City facility is an ISO 9001 and AS9100: Rev D Certified site. 'Pratt & Whitney's Oklahoma City site plays a critical role in the global sustainment of our military engines business and requires a high degree of sophistication and agility to manage operations efficiently,' said Greg Treacy, vice president of Pratt & Whitney in Oklahoma City, Pratt & Whitney. 'GXO has provided us with onsite logistics operations since 2018, and we will continue to work with GXO to strengthen our aircraft engine MRO services in Oklahoma City.' About GXO GXO Logistics, Inc. (NYSE: GXO) is the world's largest pure-play contract logistics provider and is benefiting from the rapid growth of ecommerce, automation and outsourcing. GXO is committed to providing an inclusive, world-class workplace for more than 150,000 team members across more than 1,000 facilities totalling approximately 200 million square feet. The company partners with the world's leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut, USA. Visit for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube. Media contactsMatthew Schmidt +1 203-307-2809 Kathleen Juviler+1 203-291-9121 Sign in to access your portfolio
Globe and Mail
04-08-2025
- Business
- Globe and Mail
GXO Strengthens Aerospace Business with RTX's Pratt & Whitney Contract Renewal in the U.S.
GXO has managed Pratt & Whitney's warehouse operations in Oklahoma City since 2018 GREENWICH, Conn., Aug. 04, 2025 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world's largest pure-play contract logistics provider, today announced the renewal of its agreement with Pratt & Whitney, an RTX business. GXO will continue to provide warehouse and HMC management out of Pratt & Whitney's operations facility in Oklahoma City, Okla., the business's largest military engines field location. 'For the past seven years, we have worked hand-in-hand with Pratt & Whitney to develop and execute a more efficient logistics operation for the business's engine 'Maintenance, Repair and Overhaul,' or MRO, team,' said Jorge Guanter, President, Americas and Asia Pacific, GXO. 'Together, we have implemented aerospace solutions that increase inventory accuracy, streamline the order receiving process and accelerate kit order packing. We are excited to extend our work with Pratt & Whitney and look forward to unlocking new opportunities for the business's Oklahoma City operation.' GXO provides material handling, kitting and inventory management for aircraft engine parts and related non-products, as well as shuttle transportation services for Pratt & Whitney. The Oklahoma City facility is an ISO 9001 and AS9100: Rev D Certified site. 'Pratt & Whitney's Oklahoma City site plays a critical role in the global sustainment of our military engines business and requires a high degree of sophistication and agility to manage operations efficiently,' said Greg Treacy, vice president of Pratt & Whitney in Oklahoma City, Pratt & Whitney. 'GXO has provided us with onsite logistics operations since 2018, and we will continue to work with GXO to strengthen our aircraft engine MRO services in Oklahoma City.' About GXO GXO Logistics, Inc. (NYSE: GXO) is the world's largest pure-play contract logistics provider and is benefiting from the rapid growth of ecommerce, automation and outsourcing. GXO is committed to providing an inclusive, world-class workplace for more than 150,000 team members across more than 1,000 facilities totalling approximately 200 million square feet. The company partners with the world's leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut, USA. Visit for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.
Business Upturn
17-07-2025
- Business
- Business Upturn
GXO Schedules Second Quarter 2025 Earnings Conference Call for Wednesday, August 6, 2025
By GlobeNewswire Published on July 17, 2025, 16:00 IST GREENWICH, Conn., July 17, 2025 (GLOBE NEWSWIRE) — GXO Logistics, Inc. (NYSE: GXO) will hold its second quarter 2025 earnings conference call and webcast on Wednesday, August 6, 2025, at 8:30 a.m. Eastern Time. The company's results will be released after market close on Tuesday, August 5, 2025, and made available at that time on Access information: Call toll-free from U.S./Canada: 877-407-8029International callers: +1 201-689-8029Conference ID: 13754139 Live webcast: A replay of the conference call will be available for approximately two weeks, until August 20, 2025, by calling toll-free (from U.S./Canada) 877-660-6853; international callers dial +1 201‑612‑7415. Use the passcode 13754139. About GXO Logistics GXO Logistics, Inc. (NYSE: GXO) is the world's largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has more than 150,000 team members across more than 1,000 facilities totaling more than 200 million square feet. The company serves the world's leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube. Investor Contact Kristine Kubacki, CFA+1 203-769-7206 [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
