Rui Marques returns to Spain as GXO's new Iberia managing director
Contract logistics operator GXO Logistics has announced that Rui Marques (above) will return to Spain ...
AMZN: APPEAL UPDATEDSV: PRESSURE BUILDS AAPL: OPENAI FUNDING INTERESTCHRW: ANOTHER INSIDER CASHES INHLAG: GRI DISCLOSUREMAERSK: HOVERING AROUND FOUR-MONTH LOWSTSLA: CHINA COMPETITIONDHL: BOLT-ON DEAL TALKAMZN: NEW ZEALAND PROJECTDHL: SURCHARGE RISKKNIN: LEGAL RISKF: 'DEI' HURDLESPLD: RATING UPDATEXOM: DISPOSALS
AMZN: APPEAL UPDATEDSV: PRESSURE BUILDS AAPL: OPENAI FUNDING INTERESTCHRW: ANOTHER INSIDER CASHES INHLAG: GRI DISCLOSUREMAERSK: HOVERING AROUND FOUR-MONTH LOWSTSLA: CHINA COMPETITIONDHL: BOLT-ON DEAL TALKAMZN: NEW ZEALAND PROJECTDHL: SURCHARGE RISKKNIN: LEGAL RISKF: 'DEI' HURDLESPLD: RATING UPDATEXOM: DISPOSALS
GXO Logistics today released Q3 22 numbers after the markets closed in the US.
The shares rose to $38.2 (+4.6%) in after-hours trade.
It reiterated full-year 2022 guidance for its key financial metrics:
– Organic revenue growth: 12%-16%;
– Adjusted diluted earnings per share: $2.70-$2.90;
– Adjusted Ebitda: $715 million to $750 million;
– Return on invested capital > 30%;
– Free cash flow @ about 30% of adjusted Ebitda.
Q3 adjusted diluted EPS were $0.05 higher than expected at $0.75 for the quarter to the end of September.
Other highlights:
– Year to date wins: “$977 million, with a robust sales pipeline of about $2 billion”;
– Revenue retention rate stable in the mid/high 90s;
– Reduced net leverage to 2.1x, investment-grade rating confirmed.
In his prepared remarks, CEO Malcolm Wilson said that in Q3 22, the company once again “posted strong operating and financial results and were pleased to deliver our highest-ever quarterly revenue, together with net income of $63 million and 19% year-over-year growth in our adjusted Ebitda”; he added GXO “continued to gain market share across verticals and geographies, with particular strength in consumer packaged goods, technology, and industrials, as demand continues to grow from both existing and new customers looking to improve productivity and reduce costs.”
The full release is here.
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