GXO hails “exceptional” second quarter performance

GXO Logistics said demand for its services continued to accelerate after it posted second quarter results that showed double-digit top- and bottom-line growth.

Revenue during the period grew 11% year over year to £1.9bn and net income grew 27% to £52.2m.

Adjusted EBITDA was £149.6m, up from £138.6m in Q2 2022.

Malcolm Wilson, CEO at GXO, said it was “an exceptional performance”.

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He said: “We increased our market share in the quarter, and we raised our 2023 profit guidance. We’re one of the few companies in our industry expecting to grow this year.

“Demand for GXO’s transformative solutions continues to accelerate: our record sales wins this quarter, together with our robust sales pipeline, position us for a strong 2024 and underpin our confidence in our long-term growth targets.

“We’re extremely proud that, in the two years since becoming a publicly traded company, we’ve delivered eight consecutive quarters of stellar operating results, signed hundreds of new partnerships with blue-chip customers, accelerated tech deployment, and established ourselves as the global brand for logistics excellence.”

The post GXO hails “exceptional” second quarter performance appeared first on Motor Transport.

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