GXO Logistics Q1 2023 Earnings Report
Key Takeaways
GXO Logistics reported a strong start to the year with record first-quarter revenue of $2.3 billion, up 12% year over year, and an adjusted EBITDA of $158 million. The company raised its full-year 2023 profit guidance, with adjusted diluted EPS now expected to be $2.40-$2.60 and adjusted EBITDA expected to be $715-$745 million.
Record first quarter revenue of $2.3 billion, up 12% year over year; organic revenue growth of 7%.
Net income attributable to GXO of $25 million; adjusted EBITDA of $158 million; diluted EPS of $0.21 and adjusted diluted EPS of $0.49.
Full-year 2023 profit guidance raised: Adjusted diluted EPS raised $0.10, now expected to be $2.40-$2.60; Adjusted EBITDA raised $15 million, now expected to be $715-$745 million.
Sales pipeline grows to approximately $2.3 billion, up from fourth quarter 2022.
GXO Logistics
GXO Logistics
GXO Logistics Revenue by Segment
GXO Logistics Revenue by Geographic Location
Forward Guidance
GXO's current 2023 financial outlook includes organic revenue growth of 6% to 8%, adjusted EBITDA of $715 million to $745 million, free cash flow conversion of approximately 30% of adjusted EBITDA, and adjusted diluted earnings per share of $2.40 to $2.60.
Positive Outlook
- Organic revenue growth of 6% to 8%
- Adjusted EBITDA of $715 million to $745 million (raised from $700 million to $730 million)
- Free cash flow conversion of approximately 30% of adjusted EBITDA
- Adjusted diluted earnings per share of $2.40 to $2.60 (raised from $2.30 to $2.50)
Revenue & Expenses
Visualization of income flow from segment revenue to net income