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Mar 31, 2024
GXO Logistics Q1 2024 Earnings Report
GXO Logistics reported a revenue increase and strategic acquisition, but experienced a net loss due to litigation expenses.
Key Takeaways
GXO Logistics reported a 6% increase in revenue to $2.5 billion in Q1 2024. However, the company experienced a net loss of $36 million due to a $63 million expense associated with legacy litigation. Despite the net loss, the company reiterated its full-year guidance and completed the acquisition of Wincanton.
Revenue increased by 6% year over year to $2.5 billion.
Organic revenue growth was 1%.
New business wins totaled approximately $250 million in annualized revenue, up 55% year over year.
Net loss was $36 million, impacted by a $63 million litigation expense.
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
The company reiterated its guidance for the full year 2024 and its 2027 financial targets.
Positive Outlook
- Organic revenue growth of 2% to 5%.
- Adjusted EBITDA of $760 million to $790 million on a standalone basis.
- Adjusted EBITDA of $805 million to $835 million including the expected impact of Wincanton acquisition.
- Adjusted diluted EPS of $2.70 to $2.90 on a standalone basis.
- Free cash flow conversion of 30% to 40% of adjusted EBITDA.
Revenue & Expenses
Visualization of income flow from segment revenue to net income