Global contract logistics giant GXO Logistics Inc. delivered a record second quarter revenue of $3.3bn (£2.43bn), up 16% year-on-year, with organic revenue growth of 6%, the highest result in nine quarters, the company has revealed.
Announcing its results for Q2, GXO added that its recently approved acquisition of Wincanton is set to boost growth in both the UK and Europe, with the GXO and Wincanton teams already working together on a number of bidding opportunities.
The results revealed that net income was $28m, compared with $39m for the second quarter 2024.
Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) was $212m, compared with $187m for the second quarter 2024.
Malcolm Wilson, GXO chief executive, said, “In the second quarter, we generated revenue of $3.3bn, up 16% year over year, produced our highest organic revenue growth in nine quarters, and delivered $212 million in adjusted EBITDA, up 13% year over year.
“We signed $307m of new business wins, bringing new business wins in the first half of the year to over half a billion dollars.
He added: “We received final regulatory approval of the Wincanton acquisition, which will unlock growth opportunities in the UK as well as in aerospace and industrial across Europe. We’re kicking off the integration in the coming weeks and the GXO and Wincanton teams are already collaborating on a range of strategic tenders.
“Given our better-than-expected performance in the first half of the year, we are again raising our full-year adjusted EBITDA guidance, following our guidance raise in June for organic revenue growth, adjusted EBITDA and adjusted diluted earnings per share.
“Lastly, we announced in June that seasoned supply chain leader Patrick Kelleher will take the helm of GXO as CEO later this month.
“Serving as CEO of GXO has been the honor of a lifetime. I’m proud of all that we’ve achieved in establishing GXO as a true industry leader and am confident that Patrick will lead GXO into its next chapter of growth.”
