GXO Logistics Reports 41.8% Decrease in Profit in Q2 Earnings Update
By USinMinutes - Aug 06, 2024, 06:40 AM ET
Last Updated - Aug 08, 2024, 04:21 PM EDT
Q2 Revenue Grows by 18.9% YoY for Logistics Giant in Latest Earnings Release
GXO Logistics, Inc. [GXO] reported a net income of $39 million for the second quarter of 2024, ending on June 30. This reflects a decrease from the previous quarter's net income of $66 million.
The company, headquartered in Greenwich, Connecticut, reported to SEC in an 8-K filing $0.32 earnings per share in the quarter, compared to $0.54 in the previous quarter.
GXO Logistics experienced a significant growth in revenue, reaching $2.8 billion in the latest financial period. This represents an 18.9% increase compared to the previous period.
In comparison to the same quarter in the previous year, GXO Logistics observed a notable increase in revenue, with a growth of 18.9% year over year. Additionally, the company reported a 40.9% decrease in net income for the current quarter compared to the same quarter of the previous year.
USinMinutes is an offering of 10kInfo, Inc., bringing you news on the latest regulatory filings. Although we take care to ensure accuracy, the article does not intend to replace user diligence in decisions of financial or legal implications.