GREENWICH, Conn. (AP) — GREENWICH, Conn. (AP) — GXO Logistics Inc. (GXO) on Wednesday reported a loss of $96 million in its first quarter.
The Greenwich, Connecticut-based company said it had a loss of 81 cents per share. Earnings, adjusted for one-time gains and costs, were 29 cents per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The contract logistics provider posted revenue of $2.98 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $2.91 billion.
GXO Logistics expects full-year earnings in the range of $2.40 to $2.60 per share.
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