First look: GXO books strongest sales quarter in three years

GXO Logistics reported second-quarter 2026 financial results Tuesday that showed continued momentum in contract logistics despite a cautious global freight environment. Revenue increased 4. 3% year over year to $3. 4 billion, while organic revenue rose 3. 4%, reflecting growth across all three of the company’s geographic regions.

Chief Executive Officer Patrick Kelleher said the company is benefiting from three strategic priorities: strengthening its commercial organization, improving operational execution through its “GXO Way” operating model, and expanding artificial intelligence and next-generation automation through its GXO IQ platform.

“Our commercial momentum is particularly evident in North America, a key growth market, where our wins in the first half of the year increased 85% over the same time last year,” Kelleher said in a news release. Greenwich, Connecticut-based GXO Logistics (NYSE: GXO) is one of the largest pure-play contract logistics providers in the world.

It has more than 970 facilities totaling approximately 200 million square feet, with a global workforce of more than 130,000 people. GXO also secured approximately $410 million in new business wins during the quarter, a 34% increase from a year earlier and the company’s strongest quarterly commercial performance in three years.

About 40% of those wins came from aerospace and defense, technology, industrial and life sciences. Adjusted EBITDA increased to $219 million, up from $212 million a year ago, while adjusted diluted earnings per share rose to 59 cents, compared with 57 cents in the second quarter of 2025.

GAAP net income totaled $27 million, compared with $28 million a year earlier, while diluted earnings per share slipped slightly to 22 cents from 23 cents. Cash generation also improved significantly.

Operating cash flow reached $76 million, versus $3 million in the prior-year quarter, while free cash flow totaled $12 million, compared with negative $43 million during the second quarter of 2025.

GXO said it has already secured approximately $1 billion of incremental revenue for 2026, up 29% year over year, along with $353 million of incremental 2027 revenue. The company also noted its commercial sales pipeline expanded from $2. 3 billion at the end of the second quarter to approximately $2.

7 billion in July, providing increased visibility into future growth. The company maintained the midpoint of its 2026 financial outlook, projecting: Organic revenue growth of 4% to 5% Adjusted EBITDA of $945 million to $965 million Adjusted diluted EPS of $2. 95 to $3.

15 Free cash flow conversion of 30% to 40% GXO will hold a conference call with analysts at 8:30 a. m. EST on Wednesday. GXO Q2 2026 financial highlights MetricQ2 2026Q2 2025YoYTotal revenue$3. 4 billion$3. 3 billion+4. 3%Net income$27 million$28 million(4%)Adjusted EBITDA$219 million$212 million+3. 3%Adjusted diluted EPS$0. 59$0. 57+3.

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