- GXO Logistics press release ( NYSE: GXO ): Q4 Non-GAAP EPS of $0.83 beats by $0.08 .
- Revenue of $2.47B (+9.3% Y/Y) beats by $20M .
- In the fourth quarter we closed $182 million of new wins; secured $661 million incremental revenue for 2023 through fourth quarter 2022
- Robust sales pipeline of approximately $2.1 billion, up from the third quarter
- Revenue retention rate consistently in the mid-to-high 90s since spin
- Fourth quarter e-commerce revenue up 31% and reverse logistics revenue up 19% with the integration of Clipper
- Debt to net income attributable to GXO ratio was 9.2x; net leverage ratio 1 reduction, down to 1.8x from 2.1x in the previous quarter, investment grade balance sheet maintained.
- Full year cash flow from operating activities of $542 million and free cash flow 1 of $240 million; equivalent to over 30% of adjusted EBITDA.
- 2023 Outlook: Organic revenue growth 1 of 6% to 8%;
- Adjusted EBITDA 1 of $700 million to $730 million;
- Free cash flow 1 conversion of approximately 30% of adjusted EBITDA 1 ; and
- Adjusted diluted earnings per share 1 of $2.30 to $2.50.
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GXO Logistics Non-GAAP EPS of $0.83 beats by $0.08, revenue of $2.47B beats by $20M