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As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at air freight and logistics stocks, starting with GXO Logistics (NYSE:GXO).
The growth of e-commerce and global trade continues to drive demand for expedited shipping services, presenting opportunities for air freight companies. The industry continues to invest in advanced technologies such as automated sorting systems and real-time tracking solutions to enhance operational efficiency. Despite the advantages of speed and global reach, air freight and logistics companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.
The 6 air freight and logistics stocks we track reported a strong Q1. As a group, revenues were in line with analysts’ consensus estimates while next quarter’s revenue guidance was 3.5% below.
In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.
GXO Logistics (NYSE:GXO)
With notable customers such as Nike and Apple, GXO (NYSE:GXO) manages outsourced supply chains and warehousing for various companies.
GXO Logistics reported revenues of $2.98 billion, up 21.2% year on year. This print exceeded analysts’ expectations by 1.4%. Overall, it was a very strong quarter for the company with an impressive beat of analysts’ adjusted operating income estimates.
GXO Logistics scored the fastest revenue growth of the whole group. Unsurprisingly, the stock is up 4.4% since reporting and currently trades at $39.78.
Is now the time to buy GXO Logistics? Access our full analysis of the earnings results here, it’s free.
Best Q1: Expeditors (NYSE:EXPD)
Expeditors (NYSE:EXPD) offers air and ocean freight as well as brokerage services.
Expeditors reported revenues of $2.67 billion, up 20.8% year on year, outperforming analysts’ expectations by 3.6%. The business had a stunning quarter with an impressive beat of analysts’ EBITDA estimates.
Expeditors delivered the biggest analyst estimates beat among its peers. The market seems content with the results as the stock is up 1.5% since reporting. It currently trades at $113.47.
Is now the time to buy Expeditors? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: Hub Group (NASDAQ:HUBG)
Started with $10,000, Hub Group (NASDAQ:HUBG) is a provider of intermodal, truck brokerage, and logistics services, facilitating transportation solutions for businesses worldwide.