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Mar 31, 2023
GXO Logistics Q1 2023 Earnings Report
Reported record revenue and raised full-year profit guidance.
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
Revenue by Segment
Omnichannel retail Revenue
CapyFin.comTechnology and consumer electronics Revenue
CapyFin.comIndustrial and manufacturing Revenue
CapyFin.comFood and beverage Revenue
CapyFin.comConsumer packaged goods Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
United Kingdom Revenue
CapyFin.comUnited States Revenue
CapyFin.comNetherlands Revenue
CapyFin.comFrance Revenue
CapyFin.comSpain Revenue
CapyFin.comItaly Revenue
CapyFin.comOther Revenue
CapyFin.com 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