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GXO LOGISTICS, INC.

(GXO)
  Report
Delayed Nyse  -  04:00 2022-11-30 pm EST
46.86 USD   +7.92%
11/29Insider Buy: Gxo Logistics
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11/29Deutsche Bank Adjusts GXO Logistics Price Target to $53 From $68, Maintains Buy Rating
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11/15GXO Deploys Most Technology in Its History
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GXO Direct Helps BBQGuys Expand Efficiently, Meet Peak Summer Demand

06/28/2022 | 07:00am EST

GREENWICH, Conn., June 28, 2022 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, has expanded warehouse operations with BBQGuys more than 300% thanks to the ongoing collaboration that started in August 2021. The Baton Rouge-based company, a leading ecommerce company specializing in grills and other outdoor living products, now occupies more than 170,000 square feet of warehouse space at GXO Direct facilites in San Bernardino, Calif, and Mechanicsburg, Penn., helping it provide best-in-class service to more customers coast-to-coast. To watch leaders from BBQGuys discuss the critical role logistics plays in their company’s growth plans, please click here.

“We’ve been working with BBQGuys for nearly a year, providing innovative, flexible warehousing solutions that support its rapid growth as America’s favorite grill e-retailer,” said William Peterson, Division President, Supply Chain (Americas) at GXO. “With GXO Direct, our shared-space distribution network, we can position BBQGuys’ inventories closer to major population centers on the east and west coasts, helping the company reach its consumers efficiently and cost-effectively with the flexibility necessary to adapt quickly to changing demand.”

GXO Direct helps companies grow strategically, providing warehousing space when and where they need it along with access to GXO’s industry-leading technology and expertise. This helps reduce fixed costs and can eliminate the need to invest in a dedicated warehouse. In turn, GXO Direct can reduce transit costs, shorten transit times and lower CO2 emissions by reducing shipping miles and the need for carbon-intensive air transportation. At BBQGuys, the average order weighs around 250 pounds, so being able to efficiently manage such large purchases has been critical to the company’s success.

BBQGuys CEO Russ Wheeler said, “GXO has been an outstanding partner for us, supporting our growth at every step and in every region of the country — from stepping up to help when a hurricane disrupted our operations in Baton Rouge to helping us fulfill record orders leading up to Memorial Day. Now we’re working together to meet our record demand for the Fourth of July, and what’s more American than bringing people together for a backyard barbecue? We’re looking forward to our ongoing collaboration with GXO to enhance our operations and customer experiences.”

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 approximately 120,000 team members across more than 900 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.

About BBQGuys

BBQGuys is a leading e-commerce retailer of higher-end grills, grilling accessories and outdoor living products for both homeowners and professional builders. What began as a humble brick-and-mortar store in 1998 has since evolved into one of America’s fastest-growing businesses—one that has served over a million happy customers nationwide. With an A+ rating from the Better Business Bureau and annual recognition as a leader in the online space, BBQGuys has cemented itself as a trusted voice in the grilling and outdoor living industry. Were you born to grill? Visit us at BBQGuys.com.

Media contacts

Matthew Schmidt 
+1 203-307-2809 
matt.schmidt@gxo.com 

Fallon McLoughlin
+1 203-399-6998
fallon.mcloughlin@gxo.com


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Source: GXO Logistics

2022 GlobeNewswire, Inc., source Press Releases

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Analyst Recommendations on GXO LOGISTICS, INC.
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Financials (USD)
Sales 2022 9 004 M - -
Net income 2022 233 M - -
Net Debt 2022 1 696 M - -
P/E ratio 2022 23,9x
Yield 2022 -
Capitalization 5 559 M 5 559 M -
EV / Sales 2022 0,81x
EV / Sales 2023 0,73x
Nbr of Employees 75 000
Free-Float 99,4%
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Mean consensus BUY
Number of Analysts 16
Last Close Price 46,86 $
Average target price 54,87 $
Spread / Average Target 17,1%
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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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