GXO Logistics – it’s all about margins, stupid!

Three months after a beat-and-hold quarter tested the market’s patience, GXO delivered what it called its fastest organic growth in more than three years, largely finished integrating Wincanton and stepped up buybacks. Premium y’day wondered ahead of trade: ‘Where is the joy?’ – well, the shares rose 9.5% on the day of the call, even though: the margin step-up is still ahead: start-up costs and investment kept adjusted Ebitda margin ...

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