GXO Logistics

GXO Logistics CEO Malcom Wilson to retire

GXO Logistics CEO Malcolm Wilson will retire next year after leading the company since 2021, GXO announced Tuesday.

Wilson informed GXO’s board of directors that he plans to retire in 2025 but will continue to lead the company during the search for his successor, according to a news release.

“My time at GXO has been the highlight of my three decades in logistics,” Wilson said in a statement. “We have an outstanding organization that embraces new technologies, keeping us at the forefront of the...

https://www.freightwaves.com/news/gxo-logistics-ceo-malcom-wilson-to-retire

GXO Logistics sees ‘more normal’ freight market returning

GXO Logistics Inc. sees an upward trend in the global freight market in 2025, encouraged by its growing customer base and organic sales growth in the third quarter.

“We definitely are feeling that we’re out of the trough that we’ve been in for the last 12 months, and we’re getting back to a more normal kind of growth type of metric,” CEO Malcolm Wilson said during a call with analysts Tuesday. “We’re definitely building for a much stronger 2025.”

Greenwich, Connecticut-based GXO Logistics (NYSE:...

https://www.freightwaves.com/news/gxo-logistics-sees-more-normal-freight-market-returning

GXO Logistics posts record quarterly revenue of $3.16B

GXO Logistics Inc. reported record quarterly performance Monday, with revenue surging 28% year over year to $3.16 billion.

Adjusted third-quarter earnings per share was 79 cents, compared with 69 cents for the third quarter in 2023.

The results exceeded Wall Street expectations for the quarter, which had estimated revenue of $3.03 billion and adjusted EPS at 78 cents per share.

For full-year 2024, GXO’s guidance expects organic revenue growth of 2% to 5%; adjusted EPS of $2.73 to $2.93; and...

https://www.freightwaves.com/news/gxo-logistics-posts-record-quarterly-revenue-of-3-16b

GXO Logistics sees upward trend in global freight market

GXO Logistics Inc. reported a strong performance in the second quarter, with revenue surging 19% year over year to $2.8 billion.

Adjusted quarterly earnings per share was 55 cents, compared with 70 cents for the first quarter in 2023.

Wall Street expectations had called for second-quarter earnings of 57 cents per share and revenue of $2.72 billion.

Company officials said they are on track to sign a record amount of new business this year and believe the freight market is on an upward trend...

https://www.freightwaves.com/news/gxo-logistics-sees-upward-trend-in-global-freight-market

GXO Logistics’ Q1 revenue increases 6% to $2.46B

GXO Logistics came out with first-quarter revenue and earnings in line with Wall Street estimates, delivering a solid start to the year amid a “sluggish environment,” CEO Malcolm Wilson said.

“Companies are starting to restock; we can see that from the dialogue we have with our customers,” Wilson said during a call with analysts Wednesday before the market opened. “I think we’ve seen the bottom of the destocking environment. What we’re clearly evidencing is that customers, in order to meet their...

https://www.freightwaves.com/news/gxo-q1-logistics-earnings

Wincanton board approves GXO’s competing buyout proposal

The board of U.K. logistics firm Wincanton said Friday it unanimously recommended that shareholders approve GXO Logistics Inc.’s (NYSE: GXO) $965 million all-cash offer to acquire the company.

The Wincanton board withdrew its recommendation of Ceva Logistics S.A.’s lower-priced offer for the company. Based on current foreign exchange rates, the GXO offer is priced at $7.75 a share, while the CEVA offer is priced at $6.07 per share, or approximately $764 million.

“The Wincanton directors are...

https://www.freightwaves.com/news/wincanton-board-approves-gxos-competing-buyout-proposal

GXO slightly beats fourth-quarter EPS guidance

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Contract logistics provider GXO Logistics Inc. reported adjusted fourth-quarter earnings of 70 cents...

https://www.freightwaves.com/news/gxo-slightly-beats-fourth-quarter-eps-guidance

GXO to shut down Memphis facility, lay off 211 workers

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Contract logistics provider GXO Logistics announced Wednesday it plans to close a distribution...

https://www.freightwaves.com/news/gxo-to-shut-down-memphis-facility-lay-off-211-workers

GXO to shutter Ohio facility in January

Contract logistics provider GXO Logistics Inc. (NYSE: GXO) said it plans to close a facility in Groveport, Ohio, a suburb of Columbus, and lay off 192 employees.

In a notice sent to the state last week, Greenwich, Connecticut-based GXO said the facility will close on Jan. 15. Layoffs will begin on that date and will be completed within 14 days, GXO said.

Under the 1988 Worker Adjustment and Retraining Notification (WARN) Act, employers with more than 100 employees at a location must give...

https://www.freightwaves.com/news/gxo-to-shutter-ohio-facility-in-january

GXO, VTech expand collaboration

GXO Logistics, the world’s largest pure-play contract logistics provider, announced that it has expanded its partnership with VTech, a company in electronic learning products for infants, toddlers, and preschoolers, as well as the largest manufacturer of residential phones in the United States.

VTech operations are housed in 10,683 square meters of warehouse space at GXO’s West Hallam location, which includes e-commerce, picking and packaging, recycling, returns management, and value-added...

https://container-news.com/gxo-vtech-expand-collaboration/

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