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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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