Contract logistics company GXO (NYSE: GXO) will be announcing earnings results this Tuesday after market close. Here’s what you need to know.
GXO Logistics beat analysts’ revenue expectations by 6.4% last quarter, reporting revenues of $3.30 billion, up 15.9% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ revenue estimates.
Is GXO Logistics a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting GXO Logistics’s revenue to grow 7.2% year on year to $3.38 billion, slowing from the 27.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.78 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. GXO Logistics has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.7% on average.
Looking at GXO Logistics’s peers in the air freight and logistics segment, some have already reported their Q3 results, giving us a hint as to what we can expect. United Parcel Service’s revenues decreased 3.7% year on year, beating analysts’ expectations by 2.5%, and C.H. Robinson Worldwide reported a revenue decline of 10.9%, falling short of estimates by 2.1%. United Parcel Service traded up 9.1% following the results while C.H. Robinson Worldwide was also up 19.6%.
Read our full analysis of United Parcel Service’s results here and C.H. Robinson Worldwide’s results here.
Investors in the air freight and logistics segment have had steady hands going into earnings, with share prices flat over the last month. GXO Logistics is up 2.6% during the same time and is heading into earnings with an average analyst price target of $62.12 (compared to the current share price of $56.85).
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