GXO Announces Share Repurchase Authorization

Core Viewpoint - GXO Logistics, Inc. has authorized a share repurchase program of up to $500 million, reflecting confidence in its financial position and commitment to returning value to shareholders [1][2]. Group 1: Share Repurchase Program - The share repurchase authorization allows for shares to be bought back at management's discretion through various methods, including open market purchases and privately negotiated transactions [2]. - The timing and number of shares repurchased will depend on factors such as market conditions, price, and alternative investment opportunities [2]. - Funding for the repurchases will come from existing cash, borrowings on the revolving credit facility, and other financing sources [2]. Group 2: Company Overview - GXO Logistics is the largest pure-play contract logistics provider globally, benefiting from the growth of e-commerce, automation, and outsourcing [3]. - The company employs over 150,000 team members across more than 1,000 facilities, totaling approximately 200 million square feet [3]. - GXO partners with leading blue-chip companies to address complex logistics challenges using advanced supply chain and e-commerce solutions [3].