NYSE$GXO
GXO Logistics Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
GXO Logistics reported strong Q3 2023 results driven by the resilience of its contractual business model and high-caliber operational and financial execution.
GXO Logistics reported an 8% increase in revenue to $2.5 billion, with organic revenue growing by 3%. Net income attributable to GXO increased to $66 million, and adjusted EBITDA grew to $200 million. The company updated its full-year guidance, upgrading adjusted diluted earnings per share and adjusted EBITDA while revising organic revenue growth.
- Revenue increased by 8% year over year to $2.5 billion, and organic revenue grew by 3%.
- Net income attributable to GXO grew to $66 million, and adjusted EBITDA grew to $200 million.
- Cash flow from operations was $243 million, and free cash flow was $191 million.
- Full-year adjusted diluted earnings per share upgraded from $2.45-$2.65 to $2.55-$2.65.
Headline financials
Revenue & EPS history
GXO Logistics · Revenue · Quarterly
$2.47B
Revenue by segment
GXO Logistics · $2.27B total across 5 segments · Q3 2023
- Omnichannel retail$1.05B+14.4%46.4%
- Food and beverage$362M+8.1%16.0%
- Technology and consumer electronics$360M+6.5%15.9%
- Industrial and manufacturing$263M-4.4%11.6%
- Consumer packaged goods$231M+1.8%10.2%
Forward guidance
GXO updated its full-year 2023 guidance, upgrading adjusted EBITDA and adjusted diluted earnings per share, while revising organic revenue growth.
Tailwinds
- Adjusted EBITDA upgraded from $725-$755 million to $730-$755 million.
- Adjusted diluted earnings per share upgraded from $2.45-$2.65 to $2.55-$2.65.
- Free cash flow conversion of approximately 30% of adjusted EBITDA reiterated.
- Secured incremental 2024 revenue from new business wins of $520 million.
- Sales pipeline remains at approximately $2 billion.
Headwinds
- Organic revenue growth revised from 6-8% to 2-4%.
- Macro environment is uncertain.
- Expectations for a softer peak season.
- Variability and complexity of the reconciling items described above that we exclude from these non-GAAP target measures.
- The variability of these items may have a significant impact on our future GAAP financial results and, as a result, we are unable to prepare the forward-looking statements of income and cash flows prepared in accordance with GAAP, that would be required to produce such a reconciliation.
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 Q3 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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