GXO Logistics reports Q3 adjusted EPS 79c, consensus 75c

Reports Q3 revenue $3.2B, consensus $3.01B. CEO Malcolm Wilson said, “We have increasing momentum in our business. In the third quarter, we delivered our highest-ever quarterly revenue of $3.2B, reflecting growth of 28% year over year, along with sequential improvement in organic revenue growth and strong free cash flow. We signed $226M of new business wins, bringing year-to-date wins to about $750M. Our sales pipeline stands at its highest level in more than two years, and we are on track to deliver a record year for new business wins in 2024. We’re seeing increasing demand for ecommerce capacity. This is a long-term structural tailwind that has been a key growth driver for us over the past five years. More than half of our new wins in the third quarter originated from e-fulfillment, and we also opened the largest ecommerce warehouse in France, in partnership with one of our long-term customers. Our performance gives us confidence in the acceleration of our organic growth in 2025 and beyond. GXO is well positioned to capitalize on the secular supply chain trends of complexity, ecommerce, automation and outsourcing, and to deliver long-term profitable growth.”