GXO Reports Third Quarter 2024 Results

Group 1 - The company reported third quarter revenue of $3.2 billion, representing a 28% year-over-year increase, with organic revenue growth of 3% [1][5][6] - Year-to-date, the company signed approximately $750 million in new business, indicating strong momentum and a record level of new business wins expected in 2024 [3][4] - The sales pipeline increased by 30% year-over-year to $2.4 billion, marking a two-year high [1][3] Group 2 - The company reaffirmed its full-year 2024 guidance, projecting organic revenue growth of 2% to 5%, adjusted EBITDA of $805 million to $835 million, and adjusted diluted EPS of $2.73 to $2.93 [9] - The company generated $198 million in cash flow from operations and $110 million in free cash flow during the third quarter [7][45] - As of September 30, 2024, the company had cash and cash equivalents of $548 million and total debt outstanding of $2.8 billion [8][32] Group 3 - The company is experiencing increasing demand for e-commerce capacity, with over half of new business wins in the third quarter coming from e-fulfillment [4] - The company opened the largest e-commerce warehouse in France in partnership with a long-term customer, highlighting its commitment to expanding logistics capabilities [4] - The company is well-positioned to capitalize on long-term supply chain trends, including complexity, e-commerce, automation, and outsourcing [5]