GXO Logistics Reports Strong Q4 Earnings, Surpassing Analyst Estimates
GREENWICH, Conn., Feb. 8, 2023 /PRNewswire/ -- GXO Logistics Inc. (NYSE: GXO) today reported a net income of $100 million for the fourth quarter of 2022, resulting in earnings per share (EPS) of $0.83. Adjusted for non-recurring items, EPS came in at $1.00.
These results exceeded market expectations, with the consensus EPS forecast from six analysts surveyed by Zacks Investment Research being $0.94. GXO Logistics also reported revenue of $3.25 billion, outperforming the $3.21 billion estimate from five Zacks-surveyed analysts.
"We are pleased to report another strong quarter, with both revenue and earnings exceeding expectations," said Malcolm Wilson, CEO of GXO Logistics. "Our focus on customer-centric solutions and operational excellence continues to drive our growth."
Looking ahead, GXO Logistics projects full-year EPS in the range of $2.40 to $2.60. The company will provide more details on its financial outlook during its upcoming earnings call.