GXO Logistics, Inc. (GXO) Announces $500M Share Buyback

GXO Logistics, Inc. (NYSE: GXO), the world’s largest pure-play contract logistics provider, today announced that its Board of Directors has authorized the Company to repurchase up to $500 million of its common stock.

The share repurchase authorization permits shares to be repurchased from time to time in management’s discretion, through a variety of methods, including a 10b5-1 trading plan, open market purchases, privately negotiated transactions or otherwise, and is effective immediately. The timing and number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, alternative investment opportunities, and funding considerations. GXO intends to fund the repurchases from existing cash, borrowings on GXO’s revolving credit facility and/or other financing sources. The share repurchase authorization does not obligate GXO to repurchase any specific number of shares and may be suspended or discontinued at any time.

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