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GXO LOGISTICS, INC.

(GXO)
  Report
Delayed Nyse  -  04:00 2022-12-01 pm EST
46.35 USD   -1.09%
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 Expands Warehouse Services for Bayer

09/27/2022 | 07:02am EST

Warehouse leader launches 350,000-square-foot GXO Direct facility in Nebraska to support Bayer Crop Science

GXO has been helping Bayer grow for more than two decades

GREENWICH, Conn., Sept. 27, 2022 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, today celebrated the opening of a new warehouse facility with Bayer, a global leader in the life science fields of health care and nutrition, expanding the companies’ 25-year partnership. The opening event will be attended by Kearney Mayor Stanley Clouse, leaders from the Chamber of Commerce and other representatives from the local business community. Through its shared-space distribution network GXO Direct, GXO will manage warehouse support, including all shipping and receiving activities, for Bayer’s Crop Science division at the new 350,000-square-foot facility in Kearney, Nebraska.

“Today we’re proud to celebrate the opening of this new facility and our ongoing partnership with Bayer,” said Billy Peterson, Division President (Americas) at GXO. “Our innovative, flexible warehousing solution for Bayer will help increase safety, productivity and efficiency and reduce waste. Through GXO Direct, we can manage Bayer’s inventories cost-effectively while maintaining the scalability to adapt quickly to changing needs.”

The new facility features GXO’s warehouse management system (WMx) and cold storage space. With the addition of the facility in Kearney, GXO now manages more than 1 million square feet of warehouse space for Bayer’s Crop Science division and a total of nearly 2.3 million square feet across seven sites that support the company’s agriculture business.

At the open house marking the launch of the new facility, Brian Flack, Supply Chain Leader at Bayer said, “We’re excited to expand our partnership with GXO to support the strong growth in our seed operations. The new facility is positioned to help Bayer better service customers and reduce our carbon footprint.”

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 addition, 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. 

About Bayer

Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2021, the Group employed around 100,000 people and had sales of 44.1 billion euros. R&D expenses before special items amounted to 5.3 billion euros. For more information, go to www.bayer.com.

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.

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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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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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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