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GXO LOGISTICS, INC.

(GXO)
  Report
Real-time Estimate Cboe BZX  -  11:41:33 2023-03-28 am EDT
48.15 USD   +1.86%
11:41aGXO Logistics Introduces GXO Direct in UK
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07:09aGxo Logistics : expands shared warehousing solution Direct
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07:01aGXO Announces Global Expansion of GXO Direct, the Industry's Leading Shared Warehousing Solution
GL
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GXO CEO sees large M&A opportunities in Canada

01/20/2023 | 02:07pm EDT
GXO CEO Malcolm Wilson walks on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City

LONDON (Reuters) - GXO Logistics, the world's largest contract logistics provider, is open to sizeable takeover deals of more than $1 billion in Canada, Chief Executive Malcolm Wilson said earlier this week. 

New York-listed GXO, with a value of $6.19 billion, bought Britain's Clipper Logistics, which distributes goods for Marks & Spencer and Morrisons, for around $1.3 billion last February.

The CEO said GXO mainly targets "very large" companies in line with the size of Clipper or more, adding that nothing smaller is worth its while. It could consider a sizeable acquisition in Canada to fill geographical gaps, or verticals such as omnichannel retail and aerospace where GXO is not present in a specific country, he added. 

GXO, which manages outsourced supply chains in addition to warehousing, went public in 2021 after it was spun off from U.S. logistics company XPO. GXO expects to generate a total of $2 billion of free cash through to 2027, which it can use for share buybacks, mergers and acquisitions, and organic growth, Wilson said in an interview in London on Monday. GXO had $1.9 billion of total debt as of the end of September.

Revenue grew 16% organically to $2.3 billion in the third quarter, as adjusted earnings before interest, taxes, depreciation and amortization increased to $192 million from $162 million.

The company expects single-digit revenue growth of 6%-8%, as some customers face higher costs amid soaring inflation and interest rates after the Ukraine war, Wilson said. 

He also said GXO is in "hiring mode" as opposed to firing, despite the economic backdrop, driven by its "resilient" business model based on five- to 10-year contracts with customers.

Shares in GXO are down more than 40% in the last year.

(Reporting by Amy-Jo Crowley; Editing by Leslie Adler)

By Amy-Jo Crowley


ę Reuters 2023
All news about GXO LOGISTICS, INC.
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Analyst Recommendations on GXO LOGISTICS, INC.
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Financials (USD)
Sales 2023 9 725 M - -
Net income 2023 239 M - -
Net Debt 2023 1 077 M - -
P/E ratio 2023 23,5x
Yield 2023 -
Capitalization 5 615 M 5 615 M -
EV / Sales 2023 0,69x
EV / Sales 2024 0,61x
Nbr of Employees 89 000
Free-Float 99,3%
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Technical analysis trends GXO LOGISTICS, INC.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 15
Last Close Price 47,27 $
Average target price 60,27 $
Spread / Average Target 27,5%
EPS Revisions
Managers and Directors
Malcolm Wilson Chief Executive Officer & Director
Vaughn Mandy CEO & Founder
Baris Oran Chief Financial Officer
Bradley S. Jacobs Chairman
Sandeep Sakharkar Chief Information Officer
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