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GXO Logistics (GXO - Free Report) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 4. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis contract logistics provider is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +1.8%.

Revenues are expected to be $3.45 billion, up 4.6% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.07% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for GXO Logistics?For GXO Logistics, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +3.40%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that GXO Logistics will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that GXO Logistics would post earnings of $0.37 per share when it actually produced earnings of $0.50, delivering a surprise of +35.14%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

GXO Logistics appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? GXO Logistics (GXO - Free Report) , which belongs to the Zacks Transportation - Air Freight and Cargo industry, could be a great candidate to consider.

This contract logistics provider has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 19.98%.

For the last reported quarter, GXO Logistics came out with earnings of $0.5 per share versus the Zacks Consensus Estimate of $0.37 per share, representing a surprise of 35.14%. For the previous quarter, the company was expected to post earnings of $0.83 per share and it actually produced earnings of $0.87 per share, delivering a surprise of 4.82%.

Price and EPS Surprise

With this earnings history in mind, recent estimates have been moving higher for GXO Logistics. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

GXO Logistics currently has an Earnings ESP of +3.40%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on August 4, 2026.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

GREENWICH, Conn., July 15, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, today announced it will host its 2026 Investor Day on Monday, November 16, at the New York Stock Exchange. The in-person event will begin at 9:00 a.m. Eastern Time and will also be webcast live.

The event will feature presentations from GXO CEO Patrick Kelleher, CFO Mark Suchinski and members of the executive leadership team on the company’s long-term strategy, financial framework and value creation opportunities.

The webcast and presentation materials will be available on the Company’s Investor Relations website at investors.gxo.com. A replay will be available following the event.

About GXO

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has over 150,000 team members across more than 1,000 facilities, totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Investor Contact
Kristine Kubacki, CFA
+1 203-769-7206
[email protected]

Media Contact
Matthew Schmidt 
+1 203-307-2809 
[email protected]

Shares of GXO Logistics (GXO - Free Report) have gained 3.2% over the past four weeks to close the last trading session at $51.84, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $70.57 indicates a potential upside of 36.1%.

The average comprises 14 short-term price targets ranging from a low of $63.00 to a high of $90.00, with a standard deviation of $7.11. While the lowest estimate indicates an increase of 21.5% from the current price level, the most optimistic estimate points to a 73.6% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts.

While the consensus price target is highly sought after by investors, the ability and unbiasedness of analysts in setting price targets have long been questionable. And investors making investment decisions solely based on this tool would arguably do themselves a disservice.

But, for GXO, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company's ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn't gauge how much a stock could gain, it has proven to be powerful in predicting an upside.

Price, Consensus and EPS Surprise

Here's What You May Not Know About Analysts' Price TargetsAccording to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading.

While Wall Street analysts have deep knowledge of a company's fundamentals and the sensitivity of its business to economic and industry issues, many of them tend to set overly optimistic price targets. Are you wondering why?

They usually do that to drum up interest in shares of companies that their firms either have existing business relationships with or are looking to be associated with. In other words, business incentives of firms covering a stock often result in inflated price targets set by analysts.

However, a tight clustering of price targets, which is represented by a low standard deviation, indicates that analysts have a high degree of agreement about the direction and magnitude of a stock's price movement. While that doesn't necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.

That said, while investors should not entirely ignore price targets, making an investment decision solely based on them could lead to disappointing ROI. So, price targets should always be treated with a high degree of skepticism.

Why GXO Could Witness a Solid UpsideAnalysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason to expect an upside in the stock. That's because empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For the current year, one estimate has moved higher over the last 30 days compared to no negative revision. As a result, the Zacks Consensus Estimate has increased 0.2%.

Moreover, GXO currently has a Zacks Rank #2 (Buy), which means it is in the top 20% of more than 4,000 stocks that we rank based on four factors related to earnings estimates. Given an impressive externally-audited track record, this is a more conclusive indication of the stock's potential upside in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Therefore, while the consensus price target may not be a reliable indicator of how much GXO could gain, the direction of price movement it implies does appear to be a good guide.

New agreement extends GXO and Co‑op’s transport operations partnership to over 20 yearsSupporting deliveries to more than 1,000 stores with shared values to create lasting social value in communities nationwide LONDON, June 30, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, has announced a five-year transport contract expansion with Co‑op, one of the world’s largest consumer co-operatives, advancing the supply chain partnership into its second decade.  

The agreement spans GXO’s transport operations at Avonmouth, Andover and Lea Green, supporting deliveries to over 1,000 Co‑op UK stores.

“This renewal reflects the brilliant service and operational leadership that our teams deliver every day for one of our longest-standing partners,” said Chris Hyde, Managing Director Food and Beverage, GXO UK&I. “Our scale and depth of expertise across the UK&I means that we can bring continuous improvements to Co-op’s supply chain. We’re proud of what we’ve built together, and of the positive impact our colleagues continue to make in the communities around the network.”

GXO will continue working closely with Co‑op to enhance efficiency, service and resilience across its transport network, incorporating best practices and innovative solutions from the company’s strong expertise in FMCG operations.

Beyond operational delivery, the partnership also has significant community ties. GXO colleagues across the Co‑op transport network have contributed more than 1,500 hours of volunteering and engagement over the past year. GXO teams also raised money for local and national charities, including Barnardo’s and the British Heart Foundation, raising thousands of pounds through colleague-led initiatives across the transport network.

Additionally, GXO participates in ongoing collaboration with three Co‑op academies through mentoring, employability workshops and site engagement, as well as significant reinvestment through the apprenticeship levy, supporting skills, training and community initiatives across Co‑op supported opportunities.

Stuart Rendall, Co-op’s Head of Logistics Operations, said: “Extending and deepening our partnership with GXO is an exciting development, ensuring we can continue our shared history of collaboration and innovation into the future. As a convenience retailer, we are focused on running a world class resilient supply and logistics operation to provide our customers with the products they want to buy from our 2,300 stores across the UK. We have successfully worked with GXO over many years to this end, and we are looking forward to the next chapter in our partnership.”

The contract extension reflects the partnership’s proven success — combining operational excellence with a shared commitment to people, communities and long‑term value.

About GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has more than 150,000 team members across more than 1,000 facilities totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

About Co-op:

Co-op Group is one of the world’s largest consumer co-operatives, operating across food retail, funerals, insurance and legal services. Owned by around 7.2 million active member-owners, Co-op exists to meet their needs and champion the causes they care about. With more than 2,300 food stores, 800 funeral homes and a wholesale business supplying around 8,000 additional outlets, Co-op employs 53,000 colleagues and generates annual revenues of over £11 billion. It is a recognised leader in ethical business and community-led programmes, creating long-term value for members and communities across the UK.

Media contacts

GXO
Jack Woodhead
+44 (0)7929104482
[email protected]

Chris Walton
+44 (0)7971 840874
[email protected]

For Co-op  journalist/press enquiries, please contact:

Andrew Torr
Lead Press Officer | Co-op Group
M – 07702505551
E - [email protected]

GXO and Co-op Extend Transport Partnership with New Five year Agreement GXO and Co-op Extend Transport Partnership with New Five year Agreement

GXO and Co-op Extend Transport Partnership with New Five year Agreement Supporting deliveries to more than 1,000 stores with shared values to create lasting social value in... GXO and Co-op Extend Transport Partnership with New Five year Agreement New agreement extends GXO and Co op’s transport operations partnership to over 20 years

New facility will be powered by GXO’s retail logistics expertise with a commitment to sustainable, efficient operations

MILAN, Italy, June 22, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, today announced it will manage operations at a new distribution center in Ferentino for Action, the fastest growing non-food discounter in Europe. The site, which opened last week in the province of Frosinone, is Action’s second distribution center in Italy.

GXO was selected to support the expansion of Action’s retail network in Central and Southern Italy based on its strong operational capabilities and presence in the Lazio region, which is considered strategic for ensuring operational flexibility, access to qualified talent, and robust warehouse management capacity. In addition, GXO operates a direct labor model and brings deep knowledge of the retail sector.

The Ferentino distribution center is expected to grow steadily in volumes and workforce. Today, GXO manages operations with a workforce of over 200 people, with growth expected to reach 300 at full capacity, peaking at 350 during the high season.

“GXO is extremely proud to support Action in this new phase of growth in Italy,” said Alessandro Renzo, Managing Director, GXO in Italy and Switzerland. “The Ferentino project strengthens GXO’s longstanding European partnership with the client, extending a successful collaboration from France into Italy. Our goal is to support Action with an operational model based on listening, customer proximity, and direct management that prioritizes people, skills, and workplace safety. We believe these elements are essential to ensuring continuity, service quality, and sustainable growth over time.”

The new distribution center also stands out for its strong environmental profile. The site has achieved BREEAM Outstanding certification, the highest recognition under this standard, reflecting its commitment to sustainability, energy efficiency, and environmental performance. Designed, built, and operated to high sustainability standards, the facility incorporates solutions that reduce environmental impact and support efficient operations. A gas-free facility, it is equipped with energy-efficient technologies, including photovoltaic panels, smart consumption monitoring systems, LED lighting, and electric vehicle charging stations.

“Ferentino offers us a great central location for the distribution of Action’s growing store network in the center and the south of Italy,” said Jens Burgers, Director of Supply Chain, Action. “I am also very proud this distribution center continues to set an example in terms of sustainability. Every aspect of the facility, from construction materials to installed equipment, has been sustainably designed for ecological and environmentally friendly operations.”

About Action
Action, the non-food discounter, welcomes more than 22 million customers every week in more than 3,300 stores in 15 European countries. Customers love Action for its surprising range of 6,000 products in 14 categories, offering everyday necessities and products that make daily life easier or more enjoyable – always at the lowest price. Every week, we introduce 150 new products to keep our range relevant. Through our Action Sustainability Programme (ASP), we constantly invest in further improving our quality and sustainability organised in four areas: People, Product, Planet and Partnership. Our promise: small prices, big smiles.

Website: https://company.action.com

About GXO  
GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has over 150,000 team members across more than 1,000 facilities, totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube. 

Media contacts
Janine Fiorani
+39 3407182290
[email protected]

Matthew Schmidt
+1 203-307-2809
[email protected]

GREENWICH, Conn., April 13, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO) will hold its first quarter 2026 earnings conference call and webcast on Wednesday, May 6, 2026, at 8:30 a.m. Eastern Time. The company’s results will be released after market close on Tuesday, May 5, 2026, and made available at that time on investors.gxo.com.

Access information:
Call toll-free from U.S./Canada: 877-407-8029
International callers: +1 201-689-8029
Conference ID: 13759863
Live webcast: investors.gxo.com

A replay of the conference call will be available for approximately two weeks, until May 20, 2026, by calling toll-free (from U.S./Canada) 877-660-6853; international callers dial +1 201‑612‑7415. Use the passcode 13759863.

About GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has more than 150,000 team members across more than 1,000 facilities totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Investor Contact

Kristine Kubacki, CFA
 +1 203-769-7206
[email protected]

The Zacks Transportation sector is widely diversified in nature, including airlines, railroads, package delivery companies and truckers, to name a few. Per the latest Earnings Outlook, first-quarter 2026 earnings of the S&P 500 members of the sector are expected to increase 6.6% year over year. Revenues are estimated to be up 3.7%.

With a vast majority of players from this diversified sector yet to report their financial numbers, we expect the likes of Union Pacific Corporation (UNP - Free Report) , Expeditors International of Washington (EXPD - Free Report) and GXO Logistics (GXO - Free Report) to report better-than-expected earnings despite headwinds like high fuel costs induced by the Iran war, tariff-induced uncertainty, inflation-related woes and supply-chain disruptions.

The ongoing conflict in the Middle East has resulted in a sharp jump in oil prices, which were up more than 50% in March itself, sending shockwaves worldwide. Traffic in the critical shipping route, the Strait of Hormuz (significant percentages of the world's total oil and liquefied natural gas pass through it daily), has been highly affected ever since the war began. High fuel costs are naturally hurting the bottom line of transportation stocks. This is because fuel expenses represent a key input cost for a transportation company. 

Despite the oil price-led headwind, there are factors that are likely to have boosted the sector participants’ first-quarter performance. Let's delve deep.

The recovery in the freight scenario is a huge positive and should boost first-quarter 2026 results of railroads, freight forwarders and other sectoral players dependent on freight. Highlighting improving freight demand, the Cass Freight Shipments Index gained 3% month-to-month in March 2026.

The ongoing cost-control efforts are expected to have contributed to improved profitability. The continued strength of e-commerce remains a key tailwind for the sector. For airline stocks in the sector, bookings have remained strong, leading to the expectation that air-travel demand strength would, in all likelihood, offset the negative effects of high fuel costs, in turn aiding results. The increasing ticket prices are likely to cover the double-digit increase in this key input cost for transportation players.

Shipping companies are also showing resilience in the face of inflation, trade tensions and supply-chain disruptions, particularly those focused on operational efficiency and strategic growth initiatives.

Given this backdrop, we have zeroed in on three transportation companies likely to beat the Zacks Consensus Estimate for earnings in their upcoming releases. However, the task of selecting potential outperformers is not easy, given that the sector is densely populated.

How to Identify Potential Outperformers?With several transportation firms thronging the investment space, it is by no means an easy task for investors to arrive at stocks that have the potential to deliver better-than-expected earnings. While it is impossible to be sure about such outperformers, our proprietary methodology makes the task fairly simple.

Our research shows that for stocks with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), the chance of a positive earnings surprise is as high as 70%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP is our proprietary methodology for determining stocks that have the best chances to surprise with their next earnings announcement. It is the percentage difference between the Most Accurate Estimate and the Zacks Consensus Estimate.

Our ChoicesHeadquartered in Omaha, NE, Union Pacific operates a rail network spanning 23 states across the western two-thirds of the United States, serving as a vital component of the global supply chain. The railroad operator currently has an Earnings ESP of +0.24% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company is scheduled to report its first-quarter 2026 results on April 23. Union Pacific’s efforts to reward its shareholders through dividends and share buybacks are commendable. With the freight scene on the mend, the company’s performance is likely to have been aided. The company’s earnings surpassed the Zacks Consensus Estimate in two of the last four quarters (missing the mark on the other two occasions), with the average miss being 1.34%.

Expeditors, a leading third-party logistics provider, is based in Seattle, WA. EXPD currently has an Earnings ESP of +1.25% and a Zacks Rank of 3. The company is scheduled to report first-quarter 2026 results on May 5. 

The improvement in the freight scene and cost-cutting efforts are likely to boost Expeditors’ first-quarter results. EXPD’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.08%.

GXO Logistics, a pure-play contract logistics provider, is headquartered in Greenwich, CT. The company currently has an Earnings ESP of +2.81% and a Zacks Rank of 3. GXO is slated to report first-quarter 2026 results on May 5.

Increased e-commerce, automation and outsourcing are likely to aid the company’s results. Cost-cutting efforts are also likely to have boosted the bottom-line performance of GXO. The company’s earnings surpassed the Zacks Consensus Estimate in each of the last four quarters, with the average beat being 4.86%.

The Zacks Transportation-Air Freight and Cargo industry is still dealing with persistent supply-chain challenges. The macroeconomic environment remains strained, with volatility stemming from the Iran conflict further dampening market sentiment.

Nevertheless, we believe the industry retains growth prospects, especially for companies emphasizing expansion initiatives and operational efficiencies. Despite the reopening of economies, consumer appetite for online shopping continues to be robust. Cost-control measures aimed at enhancing profitability are also encouraging. Companies such as United Parcel Service (UPS - Free Report) , FedEx (FDX - Free Report) and GXO Logistics (GXO - Free Report) are successfully leveraging these favorable dynamics.

Industry Overview The companies belonging to the Zacks Transportation-Air Freight and Cargo industry provide air delivery and freight services. Most players in the space are involved in offering specialized transportation and logistics services. Some participants offer a range of supply-chain solutions, such as freight forwarding, customs brokerage, fulfillment, returns, financial transactions and repairs. The well-being of the companies in this industrial cohort is directly proportional to the health of the economy. Leading industry players, including FedEx, transport millions of packages each day across the globe. Apart from operating a ground fleet of multiple vehicles, some of these companies maintain an air fleet. While some players focus on providing air transportation services for passengers and cargo, others deliver services to entities that outsource air-cargo lifting requirements.

4 Key Trends to Watch in the Transportation-Air Freight & Cargo Industry Emphasis on Shareholder Returns: As economic activity rebounds from pandemic-era lows, companies are increasingly using their growing cash reserves to reward shareholders through dividends and share buybacks. This reflects both financial resilience and confidence in future prospects. Within the Transportation-Air Freight and Cargo space, FedEx raised its quarterly dividend by 5.1% in 2025.

Cost-Control Measures to Support Profitability: Although inflation has shown some signs of easing, it remains elevated. The industry continues to face cost pressures, including higher expenses for labor, freight and fuel. To counter softer demand conditions, companies are prioritizing cost reductions while enhancing productivity and operational efficiency. These efforts have paid off, as evidenced by FedEx’s stronger-than-expected performance in the third quarter of fiscal 2026.

Demand Weakness Remains a Key Challenge: A slowdown in shipping demand, especially across Asia and Europe, is weighing on volumes. Subdued shipment levels are impacting the performance of major players in the industry. Ongoing geopolitical tensions and persistently high inflation are dampening consumer sentiment and growth outlooks. Additionally, weak freight rates are further constraining industry prospects.

E-commerce Continues to Be a Key Driver: While e-commerce growth has moderated from the surge seen during the pandemic due to economic reopening, it remains solid. The convenience of online shopping continues to support demand, alongside ongoing digitalization trends. Strength in e-commerce is expected to remain a crucial growth driver for companies in the industry. 

Zacks Industry Rank Indicates Bullish Trends The Zacks Air Freight and Cargo industry, housed within the broader Zacks Transportation sector, currently carries a Zacks Industry Rank #93. This rank places it in the top 38% of 243 Zacks industries.

The group’s Zacks Industry Rank, the average of the Zacks Rank of all member stocks, indicates sunny near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

The industry’s position in the top 50% of the Zacks-ranked industries is a result of a positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are gradually gaining in confidence in this group’s earnings growth potential. The industry's earnings estimate for 2026 has increased 2% since February 2026.

Before we present a few stocks from the industry that investors can retain in their portfolios, let’s take a look at the industry’s recent stock market performance and the valuation picture.

Industry Surpasses the S&P 500 and the Sector The Zacks Air Freight and Cargo industry has outperformed the Zacks S&P 500 composite as well as the broader Transportation sector over the past year.

The industry has gained 41.6% over this period compared with the S&P 500’s rise of 38.9% and the broader sector’s 33% uptick.

One-Year Price Performance

Industry's Current Valuation On the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), a commonly used multiple for valuing Transportation-Air Freight and Cargo stocks, the industry is currently trading at 11.22X compared with the S&P 500’s 18.58X. It is also lower than the sector’s trailing 12-month EV/EBITDA of 11.75X.

Over the past five years, the industry has traded as high as 13.42X, as low as 7.4X and at the median of 10.08X.

Enterprise Value-to-EBITDA Ratio (TTM)

3 Transportation-Air Freight and Cargo Stocks to Keep a Tab On The aforementioned stocks presently carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 

UPS: The company is based in Atlanta. We are appreciative of the company's efforts to reward its shareholders through dividends and buybacks. Robust free cash flow generation by UPS is a major positive and leads to an uptick in shareholder-friendly activities.

Cost-cutting efforts are supporting its bottom line. Impressive e-commerce demand and expansion efforts should serve UPS well in the coming year. Its earnings outshone the Zacks Consensus Estimate in three of the past four quarters and missed once, the average beat being 10.72%.

Price and Consensus: UPS

FedEx: The company’s efforts to reward its shareholders even in these uncertain times are praiseworthy. Apart from paying dividends, FDX is active on the buyback front. FedEx's liquidity position is also solid. FDX’s efforts to cut costs are driving its bottom line.

The company’s earnings surpassed the Zacks Consensus Estimate in each of the past four quarters. The average beat is 13.13%.

Price and Consensus: FDX

GXO Logistics: We are impressed by GXO’s efforts to strengthen its logistics capabilities. Increased e-commerce, automation and outsourcing are serving the company well.

GXO’s earnings surpassed the Zacks Consensus Estimate in each of the past four quarters, the average beat being 5.25%. Its shares have surged 79% over the past year.

Price and Consensus: GXO

Innovative automated solution speeds loading operations to two minutes while reducing material consumption, standardizing processes and enhancing safety

WARSAW, Poland, April 28, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure‑play contract logistics provider, announced today that it has implemented the first Autoload system in Europe for Grupa Żywiec in Elbląg, one of the leading beer producers. The new technology significantly increases throughput, enhances workplace safety and elevates operational standards within the companies’ longstanding partnership.

“We are proud to introduce another joint innovation with Grupa Żywiec, our trusted partner for over seven years,” said Jean‑Luc Bessade, GXO’s Managing Director for Central Europe. “As a technology leader and early adopter of advanced automation, GXO continues to set new benchmarks for operational performance. With nearly 50% of our Central Europe revenue generated from automated operations, our continuous improvement mindset enables us to deliver measurable efficiency gains and support our customers’ long-term growth.”

Automation that transforms processes: faster, safer and more efficient

The Autoload system (Automated Truck Loader System), launched earlier this year, automates trailer loading and unloading, replacing traditional forklift operations. While standard processes require loading each pallet individually, Autoload completes the full trailer movement in a one‑shot cycle, reducing operation time to around two minutes. Its precise mechanical action eliminates human error risk, increases safety by reducing Material Handling Equipment activity in loading docks, ensures stable and repeatable process quality, and is scalable, with the ability to integrate with existing warehouse automation. The system also enables a higher number of transport movements using the same infrastructure, improving efficiency and reducing operational costs.

“In an increasingly complex food and beverage supply chain, GXO stands out as a trusted partner who understands our specific needs,” Michał Kalinowski, Contract Logistics Manager
Grupa Żywiec. “By leveraging advanced technology, GXO helps us boost productivity, safety and sustainability, allowing us to focus our resources on what matters most – growing our core business.”

To see the Autoload in action at GXO, click here.

Partnership rooted in sustainability and operational excellence

The Autoload installation is the latest innovation in a partnership that spans more than a decade. Over the course of the partnership, GXO and Grupa Żywiec have implemented several ESG initiatives which have delivered a significant reduction in energy consumption and a significant decrease in glass usage thanks to returns process improvements.

GXO remains a pioneer of advanced logistics solutions, with the rollout of Autoload supporting its Operational Excellence and continuous improvement approach. The launch builds on prior implementations which include AMR robots, ProGlove and Cognex scanners, automated packing solutions and integrated warehouse management systems to ensure seamless processes from production lines through to final delivery.

About GXO
GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has over 150,000 team members across more than 1,000 facilities, totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Media contacts

Barbara Tokarz
+48 538 626 625
[email protected]

Matthew Schmidt
+1 203-307-2809
[email protected]

GXO implements Autoload system for Grupa Żywiec

GXO implements Autoload system for Grupa Żywiec GXO has implemented the first Autoload system in Europe for Grupa Żywiec.

Wall Street expects a year-over-year increase in earnings on higher revenues when GXO Logistics (GXO - Free Report) reports results for the quarter ended March 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report, which is expected to be released on May 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis contract logistics provider is expected to post quarterly earnings of $0.37 per share in its upcoming report, which represents a year-over-year change of +27.6%.

Revenues are expected to be $3.22 billion, up 8.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.78% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for GXO Logistics?For GXO Logistics, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +2.81%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that GXO Logistics will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that GXO Logistics would post earnings of $0.83 per share when it actually produced earnings of $0.87, delivering a surprise of +4.82%.

Over the last four quarters, the company has beaten consensus EPS estimates four times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

GXO Logistics appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Revenue of $3.3 billion, up 10.8% year over year, with organic revenue growth of 4.1%$227 million of new business wins across key verticals, with approximately 40% in strategic growth sectors — aerospace & defense, technology, industrial and life sciences Record sales pipeline of $2.7 billionRaises full-year 2026 guidance for adjusted EBITDA and adjusted diluted EPS GREENWICH, Conn., May 05, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO) today announced results for the first quarter 2026.

Patrick Kelleher, chief executive officer of GXO, said, “2026 is off to a strong start. In the first quarter, we delivered strong revenue growth and profitability, underscoring the strength and predictability of our business model. Our commercial efforts are driving wins in higher margin growth verticals, including aerospace & defense, technology, industrial and life sciences, and we’re seeing demand accelerating, with our pipeline growing to an all-time high of $2.7 billion.

“Three priorities are powering our path forward – sharpening our commercial strategy, strengthening execution, and leading in AI and next-generation automation, and we made good progress in each this quarter. Our commercial momentum is building, especially in North America where our pipeline grew 35% sequentially. We’re implementing a global framework for standardizing and scaling excellence and our deployment of AI, automation and robotics is accelerating.

“Given our better-than-expected performance in the first quarter, we are raising our full-year adjusted EBITDA and adjusted EPS guidance. We look forward to sharing additional detail on our long‑term strategy and financial framework at our Investor Day following our third quarter earnings later this year.”

First Quarter 2026 Results

Revenue increased to $3.3 billion, up 10.8% year over year, compared with $3.0 billion for the first quarter 2025. Organic revenue1 grew by 4.1%.

Net income was $5 million, compared with a net loss of $95 million for the first quarter 2025. Diluted earnings per share was $0.03, compared with a diluted loss per share of $0.81 for the first quarter 2025.

Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA1”) was $200 million, compared with $163 million for the first quarter 2025. Adjusted EBITDA1 for the quarter included a $12.5 million net year-over-year benefit, primarily from an early site exit and the timing of contract termination costs.

Adjusted diluted earnings per share (“adjusted diluted EPS1”) was $0.50, compared with $0.29 for the first quarter 2025.

GXO generated $31 million of cash flow from operations, compared with $29 million for the first quarter 2025. In the first quarter of 2026, free cash flow1 was a use of $31 million, compared with $48 million used for the first quarter 2025.

Cash Balances and Outstanding Debt

As of March 31, 2026, cash and cash equivalents (excluding restricted cash), total debt outstanding and net debt1 were $794 million, $3.1 billion and $2.3 billion, respectively.

Updated 2026 Guidance2

The Company updated its guidance for the full year 2026 as follows:

Organic revenue growth1 of 4% to 5%;Adjusted EBITDA1 of $935 million to $975 million up from $930 million to $970 million;Adjusted diluted EPS1 of $2.90 to $3.20 up from $2.85 to $3.15; andFree cash flow conversion1 of 30% to 40%. Conference Call

GXO will hold a conference call on Wednesday, May 6, 2026, at 8:30 a.m. Eastern Time. Participants can call toll free (from US/Canada) 877-407-8029; international callers dial +1 201-689-8029. Conference ID: 13759863. A live webcast of the conference will be available on the Investor Relations area of the company’s website, investors.gxo.com. The conference will be archived until May 20, 2026. To access the replay by phone, call toll-free (from US/Canada) 877-660-6853; international callers dial +1 201-612-7415. Use participant passcode 13759863.

About GXO Logistics

GXO Logistics, Inc. (NYSE: GXO) is the world’s largest pure-play contract logistics provider and is positioned to capitalize on the rapid growth of ecommerce, automation and outsourcing. GXO has over 150,000 team members across more than 1,000 facilities totaling more than 200 million square feet. The company serves the world’s leading blue-chip companies to solve complex logistics challenges with technologically advanced supply chain and ecommerce solutions, at scale and with speed. GXO corporate headquarters is in Greenwich, Connecticut. Visit GXO.com for more information and connect with GXO on LinkedIn, X, Facebook, Instagram and YouTube.

Non-GAAP Financial Measures

As required by the rules of the Securities and Exchange Commission (“SEC”), we provide reconciliations of the non-GAAP financial measures contained in this press release to the most directly comparable measure under GAAP, which are set forth in the attached financial tables.

GXO’s non-GAAP financial measures in this press release include: adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), adjusted EBITDA margin, adjusted earnings before interest, taxes and amortization (“adjusted EBITA”), adjusted EBITA, net of income taxes paid/received, adjusted EBITA margin, adjusted net income attributable to GXO, adjusted earnings per share (basic and diluted) (“adjusted EPS”), free cash flow, free cash flow conversion, organic revenue, organic revenue growth, net leverage ratio, net debt, and operating return on invested capital (“ROIC”).

We believe that the above adjusted financial measures facilitate analysis of our ongoing business operations because they exclude items that may not be reflective of, or are unrelated to, GXO’s core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures used by other companies. GXO’s non-GAAP financial measures should only be used as supplemental measures of our operating performance.

Adjusted EBITDA, adjusted EBITA, adjusted net income attributable to GXO and adjusted EPS include adjustments for transaction and integration costs, restructuring costs and unrealized gain/loss on FX contracts, a regulatory matter as well as net loss on divestiture of business, as set forth in the attached financial tables. Transaction and integration adjustments are generally incremental costs that result from an actual or planned acquisition and may include consulting fees, retention awards, internal salaries and wages (to the extent the individuals are assigned full-time to integration and transformation activities), and certain costs related to integrating and separating IT systems. Restructuring costs and other primarily consisted of severance paid to exiting members of the Company’s leadership team and to individuals as part of an initiative to optimize corporate expenses. The regulatory matter relates to a regulatory settlement. And net loss on divestiture of business primarily relates to the write-down loss resulting from the held-for-sale classification.

We believe that adjusted EBITDA, adjusted EBITDA margin, adjusted EBITA, adjusted EBITA, net of income taxes paid/received, and adjusted EBITA margin, improve comparability from period to period by removing the impact of our capital structure (interest expense), asset base (depreciation and amortization), tax impacts and other adjustments as set forth in the attached financial tables, which management has determined are not reflective of core operating activities and thereby assist investors with assessing trends in our underlying businesses.

We believe that organic revenue and organic revenue growth are important measures because they exclude the impact of foreign currency exchange rate fluctuations.

We believe that adjusted net income attributable to GXO and adjusted EPS improve the comparability of our operating results from period to period by removing the impact of certain costs and gains as set forth in the attached financial tables, which management has determined are not reflective of our core operating activities, including amortization of intangible assets acquired.

We believe that free cash flow and free cash flow conversion are important measures of our ability to repay maturing debt or fund other uses of capital that we believe will enhance stockholder value. We calculate free cash flow as cash flows from operations less capital expenditures plus proceeds from sale of property and equipment. We calculate free cash flow conversion as free cash flow divided by adjusted EBITDA, expressed as a percentage.

We believe that net debt and net leverage ratio are important measures of our overall liquidity position and are calculated by removing cash and cash equivalents (excluding restricted cash) from our total debt and net debt as a ratio of our trailing twelve months adjusted EBITDA. We calculate ROIC as our trailing twelve months adjusted EBITA, net of income taxes paid/received, divided by the average invested capital. We believe ROIC provides investors with an important perspective on how effectively GXO deploys capital and use this metric internally as a high-level target to assess overall performance throughout the business cycle.

Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating GXO’s ongoing performance.

With respect to our financial targets for full-year 2026 organic revenue growth, adjusted EBITDA, adjusted diluted EPS, and free cash flow conversion, a reconciliation of these non-GAAP measures to the corresponding GAAP measures is not available without unreasonable effort due to the variability and complexity of the reconciling items described above that we exclude from these non-GAAP target measures. The variability of these items may have a significant impact on our future GAAP financial results and, as a result, we are unable to prepare forward-looking statements of income and cash flows in accordance with GAAP, that would be required to produce such a reconciliation.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements, including our full-year 2026 financial guidance of organic revenue growth, adjusted EBITDA, adjusted diluted EPS and free cash flow conversion. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors the company believes are appropriate in the circumstances.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include, but are not limited to, the risks discussed in our filings with the SEC and the following: economic conditions generally; supply chain challenges, including labor shortages; competition and pricing pressures; our ability to align our investments in capital assets, including equipment, service centers and warehouses, to our respective customers’ demands; our ability to successfully integrate and realize anticipated benefits, synergies, cost savings and profit improvement opportunities with respect to acquired companies, including the acquisition of Wincanton; acquisitions may be unsuccessful or result in other risks or developments that adversely affect our financial condition and results; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; our indebtedness; our ability to raise debt and equity capital; litigation; labor matters, including our ability to manage our subcontractors, and risks associated with labor disputes at our customers’ facilities and efforts by labor organizations to organize our employees; risks associated with defined benefit plans for our current and former employees; our ability to attract or retain necessary talent; the increased costs associated with labor; fluctuations in currency exchange rates; fluctuations in fixed and floating interest rates; fluctuations in customer confidence and spending; issues related to our intellectual property rights; governmental regulation, including environmental laws, trade compliance laws, as well as changes in international trade policies and tax regimes; governmental or political actions, including the United Kingdom’s exit from the European Union; natural disasters, terrorist attacks or similar incidents; damage to our reputation; a material disruption of our operations; the inability to achieve the level of revenue growth, cash generation, cost savings, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated or targeted; failure in properly handling the inventory of our customers; failure to successfully incorporate artificial intelligence and humanoids in
connection with our growth strategy; the impact of potential cyber-attacks and information technology or data security breaches; and the inability to implement technology initiatives or business systems successfully; our ability to achieve Environmental, Social and Governance goals; and a determination by the IRS that the distribution or certain related spin-off transactions should be treated as taxable transactions. Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements. Such forward-looking statements should therefore be construed in the light of such factors.

All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law.

Investor Contact

Kristine Kubacki, CFA
+1 (203) 769-7206
[email protected]

Media Contact

Matthew Schmidt
+1 (203) 307-2809
[email protected]

GXO Logistics, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)  Three Months Ended March 31,(Dollars in millions, shares in thousands, except per share amounts)  2026   2025 Revenue $3,298  $2,977 Direct operating expense  2,808   2,558 Selling, general and administrative expense  296   261 Depreciation and amortization expense  115   109 Transaction and integration costs  16   22 Restructuring costs and other  3   17 Regulatory matter  —   66 Net loss on divestiture of business  21   — Operating income (loss)  39   (56)Other income (expense), net  10   (5)Interest expense, net  (32)  (32)Income (loss) before income taxes  17   (93)Income tax expense  (12)  (2)Net income (loss)  5   (95)Net income attributable to noncontrolling interests (“NCI”)  (1)  (1)Net income (loss) attributable to GXO $4  $(96)     Earnings (loss) per share    Basic $0.03  $(0.81)Diluted $0.03  $(0.81)     Weighted-average shares outstanding used in computation of earnings (loss) per share    Basic  114,710   118,991 Diluted  115,840   118,991  GXO Logistics, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)  March 31, December 31,(Dollars in millions, shares in thousands, except per share amounts)  2026   2025 ASSETS    Current assets    Cash and cash equivalents $794  $854 Accounts receivable, net of allowance of $15 and $15  2,020   2,028 Other current assets  397   406 Total current assets  3,211   3,288 Long-term assets    Property and equipment, net of accumulated depreciation of $2,179 and $2,126  1,181   1,151 Operating lease assets  2,630   2,563 Goodwill  3,730   3,781 Intangible assets, net of accumulated amortization of $780 and $781  865   909 Other long-term assets  577   570 Total long-term assets  8,983   8,974 Total assets $12,194  $12,262 LIABILITIES AND EQUITY    Current liabilities    Accounts payable $713  $758 Accrued expenses  1,437   1,492 Current debt  463   446 Current operating lease liabilities  749   745 Other current liabilities  413   434 Total current liabilities  3,775   3,875 Long-term liabilities    Long-term debt  2,646   2,619 Long-term operating lease liabilities  2,102   2,044 Other long-term liabilities  668   709 Total long-term liabilities  5,416   5,372 Commitments and Contingencies    Stockholders’ Equity    Common Stock, $0.01 par value per share; 300,000 shares authorized, 120,380 and 119,868 shares issued and 115,024 and 114,512 shares outstanding, respectively  1   1 Treasury stock, at cost; 5,356 and 5,356 shares, respectively  (202)  (202)Preferred Stock, $0.01 par value per share; 10,000 shares authorized, 0 issued and outstanding  —   — Additional Paid-In Capital (“APIC”)  2,669   2,667 Retained earnings  722   718 Accumulated Other Comprehensive Income (Loss) (“AOCIL”)  (222)  (201)Total stockholders’ equity before NCI  2,968   2,983 NCI  35   32 Total equity  3,003   3,015 Total liabilities and equity $12,194  $12,262  GXO Logistics, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)  Three Months Ended March 31,(In millions)  2026   2025 Cash flows from operating activities:    Net income (loss) $5  $(95)Adjustments to reconcile net income (loss) to net cash provided by operating activities    Depreciation and amortization expense  115   109 Stock-based compensation expense  10   12 Deferred tax benefit  (3)  (10)Other  2   5 Changes in operating assets and liabilities    Accounts receivable  (26)  (49)Other assets  (2)  91 Accounts payable  (39)  (88)Accrued expenses and other liabilities  (31)  54 Net cash provided by operating activities  31   29 Cash flows from investing activities:    Capital expenditures  (65)  (78)Proceeds from sale of property and equipment  3   1 Net cash used in investing activities  (62)  (77)Cash flows from financing activities:    Common stock repurchased  —   (106)Net borrowings under revolving credit facilities  —   56 Repayments of finance lease obligations  (14)  (11)Proceeds from exercise of stock options  7   — Taxes paid related to net share settlement of equity awards  (15)  (6)Other  (4)  1 Net cash used in financing activities  (26)  (66)Effect of exchange rates on cash and cash equivalents  (3)  11 Net decrease in cash, restricted cash and cash equivalents  (60)  (103)Cash, restricted cash and cash equivalents, beginning of period  857   485 Cash, restricted cash and cash equivalents, end of period $797  $382      Non-cash financing activities:    Unsettled stock repurchases for which trades occurred $—  $4 Excise tax liability related to stock repurchases  —   1      Reconciliation of cash, restricted cash and cash equivalents March 31, 2026 December 31, 2025Cash and cash equivalents $794  $854 Restricted Cash (included in Other current assets)  2   2 Restricted Cash (included in Other long-term assets)  1   1 Total cash, restricted cash and cash equivalents $797  $857  GXO Logistics, Inc.
Key Data
Disaggregation of Revenue
(Unaudited)Revenue disaggregated by geographical area was as follows:

  Three Months Ended March 31,
(In millions)  2026   2025 United Kingdom $1,595  $1,391 United States  751   752 Netherlands  270   232 France  208   186 Spain  162   143 Italy  109   95 Other  203   178 Total $3,298  $2,977  The Company’s revenue can also be disaggregated by various verticals, reflecting the customers’ principal industry. Revenue disaggregated by industry was as follows:

  Three Months Ended March 31,
(In millions)  2026   2025 Omnichannel retail $1,561  $1,422 Technology and consumer electronics  433   393 Industrial and manufacturing  394   362 Consumer packaged goods  334   284 Food and beverage  317   314 Other  259   202 Total $3,298  $2,977  GXO Logistics, Inc.
Reconciliation of Net Income (Loss) to Adjusted EBITDA
and Adjusted EBITDA Margins
(Unaudited)  Three Months Ended March 31, Year Ended
December 31, 2025
 Trailing Twelve
Months Ended
March 31, 2026
(In millions)  2026   2025   Net income (loss) attributable to GXO $4  $(96) $32  $132 Net income attributable to NCI  1   1   4   4 Net income (loss) $5  $(95) $36  $136 Interest expense, net  32   32   133   133 Income tax expense  12   2   68   78 Depreciation and amortization expense  115   109   457   463 Transaction and integration costs  16   22   54   48 Restructuring costs and other  3   17   27   13 Regulatory matter  —   66   65   (1)Net loss on divestiture of business  21   —   34   55 Unrealized (gain) loss on foreign currency contracts  (4)  10   7   (7)Adjusted EBITDA(1) $200  $163  $881  $918           Revenue $3,298  $2,977      Operating income (loss) $39  $(56)     Operating income (loss) margin(2)  1.2%  (1.9)%     Adjusted EBITDA margin(1)(3)  6.1%  5.5%     (1) See the “Non-GAAP Financial Measures” section of this press release.
(2) Operating income (loss) margin is calculated as operating income (loss) divided by revenue for the period.
(3) Adjusted EBITDA margin is calculated as adjusted EBITDA divided by revenue for the period.
GXO Logistics, Inc.
Reconciliation of Net Income (Loss) to Adjusted EBITA
and Adjusted EBITA Margins
(Unaudited)  Three Months Ended March 31, Year Ended
December 31, 2025
 Trailing Twelve
Months Ended
March 31, 2026
(In millions)  2026   2025   Net income (loss) attributable to GXO $4  $(96) $32  $132 Net income attributable to NCI  1   1   4   4 Net income (loss) $5  $(95) $36  $136 Interest expense, net  32   32   133   133 Income tax expense  12   2   68   78 Amortization of intangible assets acquired  29   29   119   119 Transaction and integration costs  16   22   54   48 Restructuring costs and other  3   17   27   13 Regulatory matter  —   66   65   (1)Net loss on divestiture of business  21   —   34   55 Unrealized (gain) loss on foreign currency contracts  (4)  10   7   (7)Adjusted EBITA(1) $114  $83  $543  $574           Revenue $3,298  $2,977      Adjusted EBITA margin(1)(2)  3.5%  2.8%     (1) See the “Non-GAAP Financial Measures” section of this press release.
(2) Adjusted EBITA margin is calculated as adjusted EBITA divided by revenue for the period.
GXO Logistics, Inc.
Reconciliation of Net Income (Loss) to Adjusted Net Income
and Adjusted Earnings Per Share
(Unaudited)(Dollars in millions, shares in thousands, except per share amounts)
 Three Months Ended March 31,  2026   2025 Net income (loss) $5  $(95)Net income attributable to NCI  (1)  (1)Net income (loss) attributable to GXO $4  $(96)Amortization of intangible assets acquired  29   29 Transaction and integration costs  16   22 Restructuring costs and other  3   17 Regulatory matter  —   66 Net loss on divestiture of business  21   — Unrealized (gain) loss on foreign currency contracts  (4)  10 Income tax associated with the adjustments above(1)  (11)  (14)Adjusted net income attributable to GXO(2) $58  $34      Adjusted basic EPS(2) $0.51  $0.29 Adjusted diluted EPS(2) $0.50  $0.29      Weighted-average shares outstanding used in computation of adjusted earnings per share    Basic  114,710   118,991 Diluted(3)  115,840   119,288 (1) The income tax rate applied to items is based on the GAAP annual effective tax rate.
(2) See the “Non-GAAP Financial Measures” section of this press release.
(3) The three months ended March 31, 2025 calculation of loss per share – diluted (GAAP) excludes 297 thousand shares due to their anti-dilutive effect. GXO Logistics, Inc.
Other Reconciliations
(Unaudited)Reconciliation of Cash Flows from Operations to Free Cash Flow:  Three Months Ended March 31,(In millions)  2026   2025 Cash flows from operations(1) $31  $29 Capital expenditures  (65)  (78)Proceeds from sale of property and equipment  3   1 Free cash flow(2) $(31) $(48)(1) Net cash provided by operating activities.
(2) See the “Non-GAAP Financial Measures” section of this press release.
Reconciliation of Revenue to Organic Revenue:

  Three Months Ended March 31,
(In millions)  2026   2025 Revenue $3,298  $2,977 Foreign exchange rates  (198)  — Organic revenue(1) $3,100  $2,977       Revenue growth(2)  10.8%   Organic revenue growth(1)(3)  4.1%   (1) See the “Non-GAAP Financial Measures” section of this press release.
(2) Revenue growth is calculated as the change in the period-over-period revenue divided by the prior period, expressed as a percentage.
(3) Organic revenue growth is calculated as the change in the period-over-period organic revenue divided by the prior period, expressed as a percentage.
GXO Logistics, Inc.
Liquidity Reconciliations
(Unaudited)Reconciliation of Total Debt and Net Debt:(In millions) March 31, 2026Current debt $463 Long-term debt  2,646 Total debt(1) $3,109 Less: Cash and cash equivalents (excluding restricted cash)  (794)Net debt(2) $2,315 (1) Includes finance leases and other debt of $379 million as of March 31, 2026.
(2) See the “Non-GAAP Financial Measures” section of this press release.
Reconciliation of Total debt to Net income Ratio:

(In millions) March 31, 2026
Total debt $3,109 Trailing twelve months net income $136 Debt to net income ratio 22.9x Reconciliation of Net Leverage Ratio:(In millions) March 31, 2026
Net debt(1) $2,315 Trailing twelve months adjusted EBITDA(1) $918 Net leverage ratio(1) 2.5x(1) See the “Non-GAAP Financial Measures” section of this press release.
  GXO Logistics, Inc.
Return on Invested Capital
(Unaudited)Adjusted EBITA, net of income taxes paid/received:  Three Months Ended March 31,
 Year Ended
December 31, 2025
 Trailing Twelve
Months Ended
March 31, 2026
(In millions)  2026   2025   Adjusted EBITA(1) $114  $83  $543  $574 Less: Cash (paid) received for income taxes  (6)  8   (59)  (73)Adjusted EBITA(1), net of income taxes paid/received $108  $91  $484  $501 (1) See the “Non-GAAP Financial Measures” section of this press release.
Return on Invested Capital (ROIC):  March 31,  (In millions)  2026   2025  AverageSelected Assets:      Accounts receivable, net $2,020  $1,895  $1,958 Other current assets  397   446   422 Property and equipment, net  1,181   1,216   1,199 Selected Liabilities:      Accounts payable $(713) $(720) $(717)Accrued expenses  (1,437)  (1,398)  (1,418)Other current liabilities  (413)  (396)  (405)Invested capital $1,035  $1,043  $1,039        Trailing twelve months net income to average invested capital      13.1%Operating return on invested capital(1)(2)      48.2%(1) See the “Non-GAAP Financial Measures” section of this press release.
(2) The ratio of operating return on invested capital is calculated as trailing twelve months adjusted EBITA, net of income taxes paid/received, divided by the average invested capital.
_______________________________________
1 For definitions of non-GAAP measures see the “Non-GAAP Financial Measures” section in this press release.
2 Our guidance reflects current FX rates.

GXO Logistics, Inc. (GXO) Q1 2026 Earnings Call Transcript

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Logistics leader has once again made the prestigious “Best Place to Work” list thanks to its commitment to talent, training, and technological innovation MADRID, May 18, 2026 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO), the world's largest pure‑play contract logistics provider, has been recognized by Forbes as one of the “Best Places to Work” in Spain in 2026. This recognition, which the company has now received six times, reaffirms its ongoing commitment to the professional development, well-being, and inclusion of its employees.

Strategic agreement builds on more than 15 years of global partnership and supports L'Oréal's dynamic growth across Central Europe