GXO Logistics Inc is a leading global provider of supply chain solutions, specializing in logistics and transportation services
The company focuses on optimizing supply chain operations for a diverse range of industries, leveraging advanced technology and data analytics to enhance efficiency and responsiveness. GXO offers a wide array of services, including warehouse management, last-mile delivery, and integrated logistics solutions, enabling clients to improve their operational performance and meet the increasing demands of e-commerce and retail. With a commitment to innovation and sustainability, GXO aims to transform how goods are managed and delivered across the globe.
Shareholders of GXO Logistics would probably like to forget the past six months even happened. The stock dropped 20.1% and now trades at $43.61. This was partly due to its softer quarterly results and might have investors contemplating their next move.
GXO Logistics stock plunged after rejecting buyout offers and announcing CEO Malcolm Wilson's retirement. Analysts still see potential upside for GXO stock.
Shares of contract logistics company GXO (NYSEGXO)
fell 13.9% in the morning session after Bloomberg reported that the company turned down acquisition offers after exploring options in recent months. The stock recorded double-digit gains after Bloomberg first reported news of a potential sale. However, today's move indicates the market is adjusting its expectations, tempering enthusiasm around a possible acquisition.
Separately, Chief Executive Officer Malcolm Wilson announced plans to retire next year (2025), creating additional uncertainty, which the market doesn't like.
The air freight and cargo industry has been grappling with supply-chain disruptions, a challenging macroeconomic environment, and weaker-than-expected demand. Despite this, the space still has fuel left in the tank. Here are stocks to keep an eye on.
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Hub Group (NASDAQHUBG) and the rest of the air freight and logistics stocks fared in Q3.
As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the air freight and logistics industry, including GXO Logistics (NYSEGXO) and its peers.
Looking back on air freight and logistics stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including C.H. Robinson Worldwide (NASDAQCHRW) and its peers.
Contract logistics company GXO (NYSEGXO) reported Q3 CY2024 results topping the market’s revenue expectations, with sales up 27.8% year on year to $3.16 billion. On the other hand, next quarter’s revenue guidance of $2.56 billion was less impressive, coming in 19.3% below analysts’ estimates. Its non-GAAP profit of $0.79 per share was also 2.7% above analysts’ consensus estimates.
