NYSE$GXO
GXO Logistics Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
GXO Logistics experienced substantial growth in Q2 2023, marked by increased revenue, profitability, and strategic advancements.
GXO Logistics reported strong second-quarter results with an 11% increase in revenue to $2.4 billion and a 3% rise in organic revenue. Net income grew by 27% to $65 million, and adjusted EBITDA reached $190 million. The company also raised its full-year 2023 profit guidance, reflecting confidence in its continued growth and market position.
- Revenue increased by 11% year over year to $2.4 billion, with organic revenue growing by 3%.
- Net income attributable to GXO rose by 27% to $65 million.
- Operating income increased by 68%, and operating margins improved by 140 bps.
- Full-year 2023 profit guidance was raised, with adjusted diluted earnings per share increased by $0.05 to $2.45-$2.65 and adjusted EBITDA raised by $10 million to $725-$755 million.
Headline financials
Revenue & EPS history
GXO Logistics · Revenue · Quarterly
$2.39B
Revenue by segment
GXO Logistics · $2.39B total across 6 segments · Q2 2023
- Omnichannel retail$1.03B-14.1%42.9%
- Technology and consumer electronics$355M—14.8%
- Food and beverage$335M-0.3%14.0%
- Industrial and manufacturing$270M+0.4%11.3%
- Consumer packaged goods$232M+3.6%9.7%
- Other$176M—7.4%
Forward guidance
GXO Logistics provided its 2023 financial outlook, including organic revenue growth of 6% to 8%, adjusted EBITDA of $725 million to $755 million, free cash flow conversion of approximately 30% of adjusted EBITDA, and adjusted diluted earnings per share of $2.45 to $2.65.
Tailwinds
- Organic revenue growth of 6% to 8%.
- Adjusted EBITDA of $725 million to $755 million.
- Free cash flow conversion of approximately 30% of adjusted EBITDA.
- Adjusted diluted earnings per share of $2.45 to $2.65.
- Secured incremental 2023 revenue from new business wins of $844 million through the second quarter.
Headwinds
- Variability and complexity of reconciling items may have a significant impact on future GAAP financial results.
- Economic conditions generally might affect the results.
- Supply chain challenges, including labor shortages, might affect the results.
- The company's ability to align its investments in capital assets, including equipment, and warehouses, to its customers’ demands might affect the results.
- The company's ability to successfully integrate and realize anticipated synergies, cost savings and profit improvement opportunities with respect to acquired companies might affect the results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+1.0%
Avg return
Earnings day
+4.5%
Avg return
5 days after
+2.8%
Avg return
30 days after
63%
15 / 24 earnings
Positive
+9.2%
Q4 2025
Best reaction
-15.1%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.0% | +0.8% | -2.6% | |
| Q4 2025 | +9.2% | +12.9% | -9.5% | |
| Q3 2025 | -5.0% | -7.9% | -5.1% | |
| Q1 2025 | +4.1% | +6.5% | +10.8% | |
| Q4 2024 | -15.1% | -3.7% | -6.1% | |
| Q3 2024 | -1.5% | +2.0% | -13.2% | |
| Q2 2024 | -3.9% | -3.2% | -3.4% | |
| Q1 2024 | -1.0% | +3.5% | -1.1% | |
| Q4 2023 | -4.6% | -3.4% | -12.1% | |
| Q3 2023 | +3.1% | +1.4% | +8.7% | |
| Q2 2023 | -4.0% | -2.2% | -1.5% | |
| Q1 2023 | +2.8% | +5.5% | +16.4% | |
| Q4 2022 | -5.3% | -6.6% | -13.6% | |
| Q3 2022 | +2.2% | +24.1% | +21.2% | |
| Q2 2022 | +4.5% | -3.6% | -12.8% | |
| Q1 2021 | -2.1% | -8.2% | -11.8% | |
| Q1 2022 | +4.1% | -7.8% | -9.1% | |
| Q4 2021 | +4.3% | -1.3% | -8.9% | |
| Q3 2020 | +8.8% | +2.9% | +1.4% | |
| Q3 2021 | +6.8% | +5.3% | +3.6% | |
| Q2 2020 | +3.0% | +22.6% | +29.1% | |
| Q2 2021 | +3.0% | +22.6% | +29.1% | |
| Q4 2020 | +3.0% | +22.6% | +29.1% | |
| Q4 2019 | +3.0% | +22.6% | +29.1% | |
| Q1 2020 | — | — | — |
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