GXO Logistics (GXO) investor relations material

Executive summary

• Q2 2025 revenue reached $3.3B, up 16% year-over-year, with 6% organic growth and positive FX impact; Wincanton acquisition contributed $168M.

• Adjusted EBITDA rose to $212M–$227M, up 13%–16% year-over-year; net income was $28M, down from $39M due to higher expenses and a $65M regulatory charge.

• New business wins totaled $307M in Q2 and over $500M in H1; pipeline reached $2.4B.

• Wincanton acquisition finalized and integrated, expected to unlock significant synergies; regulatory approval required divestment of ~5% of business.

• CEO transition to Patrick Kelleher and CFO Baris Oran's planned departure announced.

Financial highlights

• Q2 2025 revenue: $3.3B (up 16%); organic growth 6%; adjusted EBITDA $212M–$227M; net income $28M.

• Diluted EPS was $0.23; adjusted diluted EPS $0.57; adjusted EBITDA margin 6.4%–6.9%.

• Free cash flow for Q2 was negative $43M, reflecting working capital and a one-time regulatory payment.

• Net debt as of June 30, 2025, was $2.4B–$2.5B; total debt $2.6B–$2.7B; cash $205M.

• Operating return on invested capital (ROIC) was 45.9%–46% for the trailing twelve months.

Outlook and guidance

• Full-year 2025 guidance raised: organic revenue growth 3.5%–6.5%, adjusted EBITDA $865M–$885M, adjusted EPS $2.43–$2.63, and EBITDA to free cash flow conversion 25%–35%.

• Management expects continued margin improvement, strong new business momentum, and significant synergies from Wincanton integration.

• Sufficient liquidity expected for at least 12 months, supported by cash, credit facilities, and factoring.

• Additional income tax related to Pillar Two anticipated for fiscal 2025.

• Q3 2025 adjusted EBITDA expected to be 27.5%–28.5% of FY 2025 EBITDA.