GXO Logistics reports Q3 adjusted EPS 69c, consensus 66c

Reports Q3 revenue $2.5B, consensus $2.48B. As of September 30, cash and cash equivalents and debt outstanding were $473M and $1.6B, respectively. Malcolm Wilson, CEO, said, “Our third quarter results reflect the resilience of our contractual business model as well as our high-caliber operational and financial execution. We delivered record revenue, year-over-year growth in net income attributable to GXO and adjusted EBITDA, consistent margins, robust cash flow from operations, and outstanding wins. We continue to take market share: through the third quarter, we have secured more than half a billion dollars of new business for 2024. While the macro environment is uncertain, we’re driving strong performance in new business wins, profits and cash flow.”