GXO

Greenwich, Conn.-based global contract logistics services provider GXO Logistics Inc. reported a company record for quarterly revenue, in its third quarter earnings announcement earlier this week. Revenue, at $3.4 billion, saw an 8% annual gain, with organic revenue up 4%, and net income, at $60 million, rose 42% annually. Adjusted earnings per share, at $0.79, was flat, topping Wall Street expectations, at $0.77.

Bonn, Germany-based DHL said that Mark Kunar, Chief Financial Officer & Chief Strategy Officer, for DHL Supply Chain North America, has been promoted to CEO, effective June 20. Greenwich, Conn.-based global contract logistics services provider GXO Logistics Inc. recently announced that former DHL Supply Chain CEO Patrick Kelleher will become its CEO later this summer.

The companies said that through this agreement Blue Yonder will become one of GXO’s preferred off-the-shelf software solution providers for warehouse management systems (WMS).

During Wilson’s tenure as CEO, the company increased revenue from $7.9 billion in 2021 to $11 billion in the twelve months ended September 30, 2024;

Second quarter revenue rose 19% annually to $2.8 billion, for a new company record. And the company reported a 12% gain in organic growth.

A GXO spokesman told LM that this new partnership between GXO and Apptronik is about advancing humanoid automation to meet the demands of today’s supply chain, adding that advanced automation makes distribution center operations faster and more efficient for customers and creates new opportunities for people while enhancing safety.

The acquisition of Chippenham, UK-based Wincanton, a supply chain solutions services provider across myriad vertical markets, by Greenwich, Conn.-based global contract logistics services provider GXO Logistics, has gone from pending to completed, GXO announced today.

The pending acquisition of Chippenham, UK-based Wincanton, a supply chain solutions services provider across myriad vertical markets, by Greenwich, Conn.-based global contract logistics services provider GXO Logistics appears to remain on track, according to a “scheme of arrangement” recently issued by Wincanton.

Following a previous announcement that Greenwich, Conn.-based global contract logistics services provider GXO Logistics made a $965 million cash offer to acquire Chippenham, UK-based Wincanton, a supply chain solutions services provider across myriad vertical markets, it appears that Wincanton is receptive to the offer.

Greenwich, Conn.-based global contract logistics services provider GXO Logistics said earlier today it has made an offer to acquire Chippenham, UK-based Wincanton, a supply chain solutions services provider across myriad vertical markets. GXO said it has made a $965 million cash offer for Wincanton.

GXO officials said that with PFSweb in the fold it will expand GXO’s offering in high-growth verticals, including cosmetics and luxury goods, across North America and Europe by leveraging PFSweb’s relationships with more than 100 brands.

Under the terms of the agreement outlined by GXO, GXO and PFS entered into a definitive agreement in which GXO will acquire PFS for $7.50 per share which it said represents an equity value of around $181 million.

GXO will operate Heineken UK’s warehouse, distribution and secondary transport network to retail and wholesale outlets across the U.K., as well as exclusively to Heineken’s entire U.K. pub estate—Star Pubs & Bars. GXO said this network manages more than 500,000 deliveries per year to more than 8,000 customers from point of production to retail and wholesale delivery.

Second quarter revenue rose 12% annually to $2.3 billion, for a new company record. And the company reported $25 million of net income attributable to GXO, down from $37 million a year ago, and $158 million of adjusted EBITDA. Adjusted earnings per share came in at $0.49, topping Wall Street expectations of $0.44. Operating income came in at $42 million, up 14% year over year compared with $37 million for the first quarter 2022.

London-based retailer Sainsbury’s said this week it has tabbed Greenwich, Conn.-based global contract logistics services provider GXO Logistics to operate all of the company’s outsourced food warehouses, for fresh and frozen food products, throughout England.