Today marks our first 100 days as GXO, the largest pure-play contract logistics provider in the world. From our debut on the New York Stock Exchange — a spin-off accomplished in just eight months, record time for a company our size — to our announcement of third quarter financial results just last week, we’ve been delivering on our mission to change the game with one goal: redefining contract logistics for a new era.
I am immensely proud of this team. On August 2, we hit the ground sprinting, bringing together decades of experience and entrepreneurial spirit from around the world. In the 100 days since, we’ve added to our enviable roster of blue-chip customers and expanded business with 17 of the top 20 names on that list. By the end of the third quarter, our sales pipeline had hit a record high, totaling more than $2 billion. It’s been a momentous start.
Living our values
A key part of our journey entails defining who we are and what we want to achieve. Our core values — to be safe, be inclusive, make an impact, change the game and deliver results — are the foundation of our culture, yet their impact reaches far beyond GXO. Our recognition by the Human Rights Campaign’s Corporate Equality Index for LGBTQ+ inclusion and our “AA” rating from MSCI for environmental, social and governance (ESG) leadership, highest among our industry peers, affirm our team’s tireless commitment to those values. I believe it is our responsibility to set the benchmark for ESG across the supply chain, and we’re making good progress on our targets for 2025 and beyond.
Leading the revolution
Our spin-off comes amidst the ecommerce boom, a seismic shift that’s reshaping the logistics landscape. We’re staying fast on our feet by building the warehouses of tomorrow — today. We’re leading the way in innovation, anticipating customer needs, testing cutting-edge technologies and delivering high-tech solutions that enhance safety, productivity and the employee experience. From robots and cobots to vision tech and machine learning, we tested over 100 new technologies and deployed more than 1,000 new units in the third quarter, increasing the level of tech and automation in our distribution centers by nearly 140 percent over the same period in 2020. And the game is still young.
A moment with momentum
Last week, we reported our third quarter financial results, our first as GXO. Despite the unprecedented near-term challenges in the global supply chain, we delivered records in revenue, net income and adjusted EBITDA and, due to our clear momentum, raised our guidance for the full year. Our results are a testament to our team’s determination not just to win, but to win the right way.
In my three decades in the logistics industry, I’ve never felt such pride and gratitude as I do today. To our global workforce: Thank you.
The past 100 days have been a warm-up to a terrific future, one we face with strong tailwinds at our back and tremendous opportunity within our grasp. We promised the world they’d see logistics at full potential, and we’re achieving that potential every day because of you.