GXO Logistics Sees New-Business Wins, Wincanton Synergies Driving Margin Growth

According to CNBC, GXO Logistics is seeing accelerating new-business wins that the company and analysts expect to support future revenue growth and margin expansion, while its shares have lagged peers and trade at about 8x forward enterprise value-to-Ebitda. The company said new business wins rose 34% year over year to $410 million in the second quarter, and Wincanton integration is expected to deliver $60 million in cost savings by the end of the year. GXO plans to hold an investor day on Nov. 16, where management is expected to provide more detail on growth, margins and capital deployment. The company also said it will continue buying back shares in the back half of the year.