GXO Logistics narrows full-year guidance as revenue growth slows
The logistics provider reported second-quarter revenue of $3.4 billion, reflecting a 4.3% increase year-over-year.
GXO Logistics (GXO), the warehouse automation and logistics provider, reported second-quarter revenue of $3.4 billion.
Growth for the quarter slowed to 4.3% year-over-year, a deceleration from the 10.8% increase recorded in the first quarter. Organic revenue growth followed a similar trajectory, falling to 3.4% from 4.1% in the prior quarter.
Adjusted EBITDA rose to $219 million, up from $212 million in the second quarter of 2024 and $200 million in the first quarter of 2025. The company's adjusted EBITDA margin remained flat year-over-year at 6.4%.
New business wins increased 34% year-over-year to $410 million, an increase from the $227 million reported in the first quarter. This growth was supported by North American business wins, which rose 85% in the first half of 2025 compared to the same period last year.
Incremental revenue secured for 2025 rose to approximately $1 billion, a 29% increase year-over-year from the $774 million reported as of the fourth quarter of 2024. The commercial pipeline held steady at $2.7 billion in July 2025, matching the record level reported at the end of the first quarter.
Free cash flow improved to $12 million in the second quarter, compared to $43 million used in the second quarter of 2024 and $31 million used in the first quarter of 2025.
GXO narrowed its full-year 2025 adjusted EBITDA guidance to between $945 million and $965 million, from a previous range of $935 million to $975 million. The company also narrowed its full-year adjusted diluted EPS guidance to $2.95 - $3.15 a share, from $2.90 - $3.20.