GXO Logistics (GXO) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 reached $3.4 billion, up 4.3% year-over-year, with organic revenue growth of 3.4%, driven by all regions and favorable FX.

• $410 million in new business wins, a 34% increase year-over-year, with over $1 billion incremental 2026 revenue and $353 million for 2027 already secured; 40% of wins in strategic growth verticals.

• Commercial momentum is accelerating, especially in North America, with first-half wins up 85% year-over-year and a robust pipeline for 2027.

• Strategic focus on B2B verticals (aerospace & defense, technology/data centers, industrials, life sciences) is driving higher-margin growth and reinforcing market leadership.

• Celebrated five years as an independent public company, highlighting strong progress and a new strategic agenda.

Financial highlights

• Q2 2026 revenue was $3.4 billion, up from $3.3 billion in Q2 2025.

• Adjusted EBITDA was $233 million, up from $227 million in Q2 2025, with a margin of 6.4%.

• Net income for Q2 2026 was $27 million, compared to $28 million in Q2 2025.

• Adjusted diluted EPS increased to $0.59 from $0.57 year-over-year.

• Cash and cash equivalents at June 30, 2026, were $769 million; free cash flow was $12 million, reflecting improved working capital discipline.

Outlook and guidance

• Full-year 2026 guidance: organic revenue growth of 4–5%, adjusted EBITDA of $945–$965 million, adjusted diluted EPS of $2.95–$3.15, and free cash flow conversion of 30–40%.

• Over $1 billion in incremental revenue already secured for 2026, with $353 million secured for 2027.

• Commercial activity and operational momentum expected to drive growth and margin expansion through 2026 and into 2027.

• Management expects sufficient liquidity for at least the next 12 months, supported by cash on hand, operating cash flows, and available credit.