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GXO Logistics posts solid Q4 results

EPS exceeds estimates by double-digit amounts; e-commerce revenue rises 45%

GXO posts solid quarterly results, raises guidance (Photo: GXO)

Contract logistics giant GXO Logistics Inc. posted strong fourth-quarter results late Tuesday, with revenue up 28% to $2.3 billion, and adjusted diluted earnings per share of 73 cents beating Wall Street estimates by 15 to 17 cents.

The Greenwich, Connecticut-based company, which was spun off from XPO Logistics Inc. (NYSE: XPO) last August, also raised its full-year 2022 earnings guidance, increasing adjusted earnings before interest, taxes, depreciation and amortization to a range of $707 million to $742 million, from a range of $705 million to $740 million. Revenue should rise between 8% and 12% from $7.9 billion reported for 2021, GXO (NYSE: GXO) said.

In the quarter, operating income rose to $63 million from $50 million in the year-earlier quarter, while adjusted net income climbed to $84 million from $49 million, GXO said. Adjusted EBITDA came in at $167 million, up from $146 million in the 2020 fourth quarter.

GXO shares, which rose 2.2% during Tuesday’s session, rallied an additional 6% to $89 a share in after-hours trading. Shares peaked at $105.92 in mid-November before declining considerably over the next two-and-a-half months to a low of $70.51 a share on Jan. 28. Shares have gained in the past two weeks.

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Mark Solomon

Formerly the Executive Editor at DC Velocity, Mark Solomon joined FreightWaves as Managing Editor of Freight Markets. Solomon began his journalistic career in 1982 at Traffic World magazine, ran his own public relations firm (Media Based Solutions) from 1994 to 2008, and has been at DC Velocity since then. Over the course of his career, Solomon has covered nearly the whole gamut of the transportation and logistics industry, including trucking, railroads, maritime, 3PLs, and regulatory issues. Solomon witnessed and narrated the rise of Amazon and XPO Logistics and the shift of the U.S. Postal Service from a mail-focused service to parcel, as well as the exponential, e-commerce-driven growth of warehouse square footage and omnichannel fulfillment.