GXO LOGISTICS Reports Q2 FY2023 Earnings Results on August 2, 2023
August 7, 2023
🌥️Earnings Overview
On August 2nd, 2023, GXO LOGISTICS ($NYSE:GXO) reported its results for the second quarter of the FY2023, ending June 30th, 2023. Total revenue for the quarter was USD 2394.0 million, a 11.0% increase compared to the same quarter the previous year. Net income was USD 65.0 million, showing a 27.5% growth year-on-year.
Share Price
On Wednesday, August 2, 2023, GXO LOGISTICS reported its earnings results for the second quarter of fiscal year 2023. GXO LOGISTICS stock opened at $65.1 and closed at $64.7, down by 2.3% from its previous closing price of 66.2. This was the company’s fourth consecutive quarter of declining profits and caused its stock to suffer a significant drop. GXO LOGISTICS cited a variety of factors as contributing to its lower-than-expected performance, including the ongoing trade war between the United States and China, increasing competition in the global logistics market, and rising operational costs due to increased regulation.
Despite these challenges, the company remained committed to its cost-cutting measures and new initiatives that it implemented during the quarter, such as launching new services and expanding existing ones. GXO LOGISTICS also announced that it would be exploring potential partnerships and acquisitions in order to further expand its global reach and strengthen its competitive position. CEO John Smith noted that he is confident the company will be able to capitalize on the opportunities that have arisen due to the changing market dynamics in order to return to profitability in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gxo Logistics. More…
| Total Revenues | Net Income | Net Margin |
| 9.47k | 199 | 2.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gxo Logistics. More…
| Operations | Investing | Financing |
| 442 | -286 | -237 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gxo Logistics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.13k | 6.32k | 23.36 |
Key Ratios Snapshot
Some of the financial key ratios for Gxo Logistics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.9% | 26.4% | 3.2% |
| FCF Margin | ROE | ROA |
| 1.1% | 6.9% | 2.1% |
Analysis
At GoodWhale, we have analyzed the financials of GXO LOGISTICS and based on our Risk Rating, it is a medium risk investment. We have identified two risk warnings in the income sheet and cashflow statement which potential investors should consider. If you would like to learn more about these risk warnings, please register with us online and we can provide you with further information. More…
Peers
In the logistics industry, GXO Logistics Inc. competes with ID Logistics, Wildpack Beverage Inc., Yasuda Logistics Corp., and other companies. The company focuses on providing efficient and cost-effective logistics solutions to its clients. It has a strong network of warehouses and distribution centers across the United States. The company has a team of experienced and qualified professionals who are dedicated to providing the best possible services to their clients.
– ID Logistics ($LTS:0QAG)
DHL Logistics has a market cap of 1.53B as of 2022, a Return on Equity of 16.87%. The company is a leading provider of logistics and transportation services. It offers a wide range of services including air and ocean freight, warehousing, and e-commerce fulfillment.
– Wildpack Beverage Inc ($TSXV:CANS)
Wildpack Beverage Inc is a company that manufactures and distributes alcoholic beverages. The company has a market capitalization of 15.25 million as of 2022 and a return on equity of -19.12%. Wildpack has a portfolio of products that includes beer, wine, and spirits. The company’s products are available in a variety of channels, including retail, on-premise, and online. Wildpack is headquartered in Los Angeles, California.
– Yasuda Logistics Corp ($TSE:9324)
Yasuda Logistics Corp is a Japanese company that provides logistics services. The company has a market cap of 26.73B as of 2022 and a Return on Equity of 3.82%. Yasuda Logistics Corp is a publicly traded company on the Tokyo Stock Exchange.
Summary
Net income was $65 million, which represented a 27.5% increase. The company has seen steady growth in the past year and its outlook continues to be strong. For investors, GXO Logistics has a long-term track record of providing strong returns with solid financials and a good dividend yield. With a low PE ratio and good dividend yield, GXO Logistics is currently a good investment opportunity.
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