GXO Logistics, Inc. - GXO STOCK NEWS

GXO Logistics has announced a new strategic partnership with Forum Sport, a leading sports equipment distributor in Spain. GXO will manage two logistics centers in Vitoria, spanning nearly 20,000 square meters, strengthening its presence in Northern Spain. The partnership involves handling B2B and B2C order preparation, distribution, returns, and other value-added activities.

Key aspects of the partnership include:

• GXO's use of advanced technology, including the Automated Storage and Retrieval System (ASRS), to optimize warehouse operations
• Improved productivity and customer satisfaction through efficient and accurate warehouse management
• Focus on sustainability and environmentally friendly practices
• Strengthening GXO's position in the sports equipment sector

This collaboration aims to enhance Forum Sport's supply chain efficiency while allowing the company to focus on delivering high-quality sporting goods to customers.

GXO Logistics, the world's largest pure-play contract logistics provider, has announced a new partnership with Reflex Robotics to pilot their cutting-edge humanoid robot solution in live operations. This marks GXO's second Robots-as-a-Service (RaaS) agreement. The Reflex Robot is designed for rapid deployment and autonomous learning, capable of handling various warehouse tasks.

GXO is utilizing its 'operational incubator' program to test the Reflex Robot in a real-world setting, currently piloting it in an omni-channel fulfillment operation for a Fortune 100 retailer. The long-term goal is widespread deployment across GXO's operations to address capacity constraints and enable employees to focus on more fulfilling roles. This partnership aligns with GXO's strategy to implement innovative automation solutions that benefit both the company and its customers.

GXO Logistics, the world's largest pure-play contract logistics provider, has appointed Emmanuel Bonnet as Vice President of Business Development in France. Bonnet, with over 25 years of experience in the logistics industry, will lead the sales strategy and join the Executive Committee of GXO France. He will be responsible for defining and leading business development and key account management strategies.

GXO's Managing Director in France, Vincent Ricci, expressed confidence that Bonnet's commercial expertise will be instrumental in furthering the company's growth ambitions. GXO operates over 70 warehouses in France, employs nearly 10,000 team members, and is currently ranked as the #2 logistics provider in the country by Supply Chain Magazine.

GXO Logistics, Inc. (NYSE: GXO) has announced that its CEO, Malcolm Wilson, will participate in a fireside chat at the Morgan Stanley 12th Annual Laguna Conference. The event is scheduled for Thursday, September 12th, starting at 8:10 a.m. PDT. This participation in a major financial conference provides an opportunity for GXO to engage with investors and analysts, potentially discussing the company's strategy, performance, and outlook.

GXO Logistics has renewed its long-term contract with Affinity Petcare, extending their 20-year partnership in France. GXO operates a 24,000 square meter facility near Blois, managing over 500,000 pallets annually for Affinity Petcare. The logistics provider plans to implement innovations to increase productivity and flexibility. GXO handles raw materials logistics, product preparation, and delivery, ensuring strict traceability to meet Affinity's quality standards. This renewal supports the development of Affinity's Brekkies and Ultima brands in France. GXO, ranked #2 logistics provider in France, operates over 70 warehouses nationwide, employing nearly 10,000 team members and hiring an additional 1,000 in 2023.

GXO Logistics reported record Q2 2024 revenue of $2.8 billion, up 19% year-over-year, with organic revenue growth of 2%. The company signed new business wins of $270 million in annualized revenue and saw its sales pipeline increase to $2.3 billion, a twelve-month high. GXO completed the Wincanton acquisition, expanding its presence in aerospace, defense, and industrials across Europe. Despite the revenue growth, net income decreased to $39 million from $66 million in Q2 2023, with diluted EPS falling to $0.32 from $0.54. The company generated $115 million in cash flows from operations and $31 million in free cash flow. GXO reaffirmed its full-year 2024 guidance, projecting organic revenue growth of 2% to 5% and adjusted EBITDA of $805-$835 million.

GXO Logistics has appointed Rui Marques as Managing Director of GXO Iberia, overseeing operations in Spain and Portugal. Marques, who previously held this position for over a decade, returns after leading GXO's operations in France. He will lead a team of 8,500+ employees and manage the largest logistics footprint in Spain, spanning 1.5 million square meters.

Marques will focus on developing high-performing teams, driving sales growth, investing in technology, and ensuring operational excellence. His objectives include expanding GXO's portfolio of value-added services and strengthening the company's leadership in e-commerce. The appointment is part of GXO's strategy to consolidate its management team in the region and drive expansion.

GXO Logistics (NYSE: GXO) will host its second quarter 2024 earnings conference call and webcast on Tuesday, August 6, 2024, at 8:30 a.m. ET. The results will be released earlier that day at 6:30 a.m. ET and can be accessed at www.investors.gxo.com. Interested parties can join the call toll-free from the U.S./Canada at 877-407-8029 or internationally at +1 201-689-8029 using the Conference ID 13747664. A live webcast will also be available on the GXO investors' website. A replay of the conference call will be accessible until August 20, 2024, by calling toll-free 877-660-6853 (U.S./Canada) or +1 201-612-7415 (international), using the same passcode.

GXO Logistics has signed a multi-year agreement with Agility Robotics to deploy humanoid robots, Digit, in its logistics operations following a successful pilot in 2023. This agreement marks the industry's first formal commercial deployment and Robots-as-a-Service (RaaS) deployment of humanoid robots.

Digit robots will operate at GXO's SPANX facility, performing repetitive tasks such as moving totes from cobots to conveyors, coordinated through Agility's cloud platform, Agility Arc. The deployment aims to optimize operations and improve working conditions for employees.

GXO continues to explore additional use cases and scale Digit utilization based on demand. This milestone showcases Agility's commitment to generating revenue and solving real-world business problems with humanoid robots.