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GXO Logistics
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Latest analysis
Updated Nov 4, 2026
GXO Q3 2026 revenue +5.7% YoY on broad-based growth in tech and defense, but direct costs accelerate.
GXO Logistics delivered Q3 2026 revenue of $3.59 billion, up 5.7% YoY on new business wins and increased volumes across technology, data centers, aerospace and defense, and industrial customers. Nine-month revenue rose 6.8% to $10.33 billion. However, direct operating expense expanded 7.2% QoQ to 85.3% of revenue, driven by higher labor costs associated with new customer start-ups ramping to productivity and unfavorable customer mix shifts, partially offset by $30 million in real estate transaction benefits. Operating income fell 18.6% YoY to $96 million for Q3, signaling margin pressure despite revenue growth.
Tone: cautiousRevenue
$13.2B
GXO 10-K · FY 2025
Employees
154,000
Revenue growth YoY
+13%
Founded
2021
Profile
GXO 10-K Item 1 · Feb 25, 2026GXO Logistics is the largest pure-play contract logistics provider in the world, offering technology-enabled warehousing, distribution, order fulfillment, e-commerce, and reverse logistics services. The company operates approximately 1,043 facilities worldwide totaling 221 million square feet, serving over one thousand customers across major industry verticals. GXO differentiates itself through proprietary warehouse management technology, intelligent automation, and predictive analytics deployed at global scale.
Read filing description ↓ Collapse description ↑
GXO Logistics, Inc., together with its subsidiaries, is the largest pure-play contract logistics provider in the world and a foremost innovator in the industry. We provide our customers with high-value-added warehousing and distribution, order fulfillment, e-commerce, reverse logistics and other supply chain services differentiated by our ability to deliver technology-enabled, customized solutions at scale. As of December 31, 2025, our approximately 154,000 team members operated in 1,043 facilities worldwide totaling approximately 221 million square feet of space, primarily on behalf of large corporations that have outsourced their warehousing, distribution and other related activities to us. Our revenue is diversified among over one thousand customers, including many multinational corporations, across numerous verticals. Our customers rely on us to move their goods, with high efficiency, through their supply chains — from the moment goods arrive at our warehouses through fulfillment and distribution, and the management of returned products. Our customer base includes many blue-chip leaders in sectors that demonstrate high growth and/or durable demand, with significant growth potential through customer outsourcing of logistics services. Technology is a core competitive advantage for GXO and fundamental to how we win and retain business. Our highly scalable warehouse management platform is built on the cloud to speed the deployment of new ways to increase efficiency and leverage our footprint. The most significant impacts of our proprietary technology are in three areas: labor and inventory management productivity, intelligent warehouse automation and predictive analytics, all of which are integrated through our proprietary warehouse management platform.
Primary products
- Warehousing and distribution
- Order fulfillment
- E-commerce logistics
- Reverse logistics
- Intelligent warehouse automation
- Predictive analytics
End markets
Geographies
Named customers
In 2025, our top five customers combined accounted for approximately 20% of our total revenue, and no customer represented more than 6%.
Named competitors
“GXO Logistics, Inc., together with its subsidiaries ('GXO,' the 'Company,' 'our,' or 'we'), is the largest pure-play contract logistics provider in the world and a foremost innovator in the industry.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue for 2025 increased by 13%, or $1.5 billion, to $13.2 billion, driven primarily by $655 million from the Wincanton Acquisition, new contract implementations, pricing improvements, and $352 million from favorable foreign currency movements.
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