GXO Logistics Fell Sharply Today, But a Turnaround Could Be Coming
GXO missed revenue estimates in the second quarter, but the components for an acceleration are coming together.
Overview
GXO Logistics (NYSE: GXO) was spun off from XPO five years ago, but the business has disappointed investors during that time, and the stock has been essentially flat since going public.
In the last year, CEO Patrick Kelleher has taken the helm and is repositioning the company for organic growth, rather than as a roll-up operator. Those efforts are showing results, but investors are still frustrated as the stock's 10% decline today shows after it reported second-quarter earnings yesterday.
Details
Let's take a look at the results before discussing GXO's prospects for a turnaround.
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.