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Delayed Nyse  -  04:00:02 2023-01-27 pm EST
51.02 USD   -0.04%
01/25GXO Schedules Fourth Quarter, Full-Year 2022 Earnings Conference Call for Wednesday, February 15, 2023
01/25GXO Schedules Fourth Quarter, Full-Year 2022 Earnings Conference Call for Wednesday, February 15, 2023
01/24Gxo Logistics : Investor Day Transcript
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GXO Deploys Most Technology in Its History

11/15/2022 | 07:01am EST

Following record year of customer sales wins, technology deployments in North America and Europe to be over 50% higher in 2022 than in 2021

Robotics and collaborative robots help optimize operations, reduce costs, improve safety during busiest time of year for logistics industry

GREENWICH, Conn., Nov. 15, 2022 (GLOBE NEWSWIRE) -- (NYSE: GXO), the world’s largest pure-play contract logistics provider, announced today that it’s deploying more robotics innovation and technology to support customer start-ups and the holiday peak season than in any other quarter in its history. By the end of the year, GXO will have approximately 7,600 pieces of technology operational in customer sites around the globe, including cobots and robots, vision scanners, automated guided vehicles (AGVs) and goods-to-person robots — up more than 50% over the previous year.  

“GXO is deploying more automation and robotics than ever because the benefits they deliver are game-changing for our customers and our team members,” said Sandeep Sakharkar, Chief Information Officer, GXO. “The technology we’re deploying makes warehouse operations safer, more productive, more efficient and, in a time of high inflation, more cost-effective while upskilling the workforce.”

GXO’s focus on continuous improvement through the application of new technologies is helping the company gain market share and strengthen its partnerships with many of the world’s leading brands.

Technology plays a significant role in making the work experience more rewarding for team members, enabling professional advancement, higher satisfaction and improved talent retention. Collaborative robots (“cobots”), goods-to-person robots and wearable scanners also ease the physical demands of work while reducing training time, in some cases by 80 percent.

GXO is also using technology — from machines that reduce waste by tailoring cardboard packaging to sophisticated software that optimizes inventory — to help customers achieve environmental goals.

“As growth in the working-age population declines and the capabilities and cost-effectiveness of automation rapidly improve, the ‘roboconomy’ will continue to accelerate,” added Sakharkar. “Across our business, we’re working with more and more customers to apply technology that enables greater precision in inventory management and improves speed and accuracy in order fulfilment because we see the potential to realize substantial cost-savings through automation and gain a competitive edge through the customization GXO provides.”

With more than 30 percent of its revenue from automated sites, versus 5 percent for the industry, GXO is a leader in providing customized, innovative automated warehouse solutions. As part of its commitment to leading the logistics industry in the innovative use of technology and automation, GXO recently partnered with Sente Foundry, a Chicago-based venture capital and innovation connector, to search worldwide for innovative technology startups and signed an exclusive multi-year agreement with 6 River Systems to expand its supply of collaborative robots.

Forward-looking statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including statements regarding expected employment opportunities at GXO.

About GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is benefiting from the rapid growth of ecommerce, automation and outsourcing. GXO is committed to providing a diverse, world-class workplace for more than 130,000 team members across more than 950 facilities totaling approximately 200 million square feet. The company partners with the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut, USA. Visit GXO.com for more information and connect with GXO on LinkedIn, Twitter, Facebook, Instagram and YouTube

Media contacts

Matthew Schmidt 
+1 203-307-2809 

Anne Lafourcade 
+33 (0)6 75 22 52 90 

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Analyst Recommendations on GXO LOGISTICS, INC.
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Financials (USD)
Sales 2022 8 969 M - -
Net income 2022 231 M - -
Net Debt 2022 1 359 M - -
P/E ratio 2022 26,1x
Yield 2022 -
Capitalization 6 053 M 6 053 M -
EV / Sales 2022 0,83x
EV / Sales 2023 0,75x
Nbr of Employees 75 000
Free-Float 99,4%
Duration : Period :
GXO Logistics, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends GXO LOGISTICS, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 16
Last Close Price 51,02 $
Average target price 58,33 $
Spread / Average Target 14,3%
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
Sector and Competitors