While supply chain issues have created havoc in markets and ports, on Jim Cramer pointed out that many companies are profiting and growing from fixing the problem.
Malcolm Wilson, CEO of GXO told Cramer on a recent episode of "Mad Money" that the trend in logistics today is to place products close to your end customers, and that's what GXO allows customers to do.
The company is building those new warehouse facilities in major markets, so customers can offer same-day and next-day delivery on more products.
Find out what Real Money experts are saying about GXO and other logistics companies here.
Wilson said business remains strong at GXO as the company is hard at work, delivering reliable services to their customers ahead of the peak shopping season. GXO signed $1 billion worth of new business this quarter and almost $4 billion so far this year. With the average term of their contracts being five years, Wilson said GXO has excellent visibility into the future.
The company delivered a five-cents-a-share earnings beat and raised its full-year outlook. Shares of GXO, which was spun off from its parent XPO Logistics (XPO) - Get XPO Logistics, Inc. Report, have moved up more than 70% since the spinoff in August.
GXO is the world’s largest pure-play contract logistics provider. GXO has 94,000 team members across 869 warehouse locations totaling 208 million square feet.
Wilson told Cramer that GXO is in growth mode. The company is currently adding 10,000 new employees and is pairing that with tons of automation and robotics at its facilities for maximum efficiency.