GXO Logistics Q2: Revenue Gains Offset By Profit Margin Squeeze
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
GXO Logistics Q2 Performance: GXO Logistics reported a 19% year-over-year increase in second quarter revenue to $2.85 billion, surpassing expectations, while organic revenue rose 2%. The company also secured $270 million in annualized revenue from new business and achieved a twelve-month high pipeline of $2.3 billion.
Future Outlook and Growth Plans: The company reaffirmed its FY24 outlook with expected organic revenue growth of 2% to 5% and adjusted EBITDA between $805 million and $835 million. CEO Malcolm Wilson highlighted growth initiatives in Germany and the completion of the Wincanton acquisition to expand into aerospace and defense sectors in Europe.
Analyst Views on CSD
Wall Street analysts forecast CSD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CSD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 112.464
Low
Averages
High
Current: 112.464
Low
Averages
High
No data
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
