GXO Logistics (GXO) Q2 Earnings Miss Estimates

Company Performance - GXO Logistics reported quarterly earnings of $0.55 per share, missing the Zacks Consensus Estimate of $0.57 per share, and down from $0.70 per share a year ago, representing an earnings surprise of -3.51% [1] - The company posted revenues of $2.85 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 4.82%, compared to year-ago revenues of $2.39 billion [2] - Over the last four quarters, GXO Logistics has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - GXO Logistics shares have lost about 19.3% since the beginning of the year, while the S&P 500 has gained 8.7% [3] - The current status of estimate revisions for GXO Logistics is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.80 on $3 billion in revenues, and $2.78 on $11.36 billion in revenues for the current fiscal year [7] - The outlook for the Transportation - Air Freight and Cargo industry, where GXO operates, is currently in the bottom 5% of Zacks industries, which may impact stock performance [8]