GXO Logistics: Q1 Earnings Snapshot

May 4, 2022 GMT

GREENWICH, Conn. (AP) _ GXO Logistics Inc. (GXO) on Wednesday reported first-quarter net income of $37 million.

On a per-share basis, the Greenwich, Connecticut-based company said it had profit of 32 cents. Earnings, adjusted for amortization costs and restructuring costs, came to 59 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The contract logistics provider posted revenue of $2.08 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $2.06 billion.

GXO Logistics expects full-year earnings in the range of $2.70 to $2.90 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GXO at https://www.zacks.com/ap/GXO