GXO Logistics (GXO) Stock

This year has been very good for the market, with the S&P 500 increasing by almost 27% as of now. However, it hasn't been as positive for some investors, such as those in copper miner Freeport-McMoRan, which is up only 1%, and contract logistics company GXO Logistics, which has dropped by 19%. Additionally, advanced composites manufacturer Hexcel has seen a decline of 14%.

GXO Logistics, Inc., the biggest contract logistics provider in the world, has announced a new partnership with SAMSE Group, the second-largest distributor of building materials and tools in France. This collaboration aims to improve product availability and speed up customer deliveries. It is also part of SAMSE Group's plan to enhance its supply chain efficiency.

GXO Logistics (GXO -2.36%) saw its stock prices drop after the announcement that CEO Malcolm Wilson will retire next year. This decrease in value appears to be more related to news that GXO will not be sold, rather than Wilson's departure, especially since there were earlier reports in October about potential takeover offers for the company.

GREENWICH, Conn., Dec. 03, 2024 (GLOBE NEWSWIRE) -- GXO Logistics, Inc. (NYSE: GXO) has announced that its CEO, Malcolm Wilson, will retire in 2025. He will remain in charge of the company while they look for someone to take over his position.

GXO Logistics, Inc. and OBI have renewed their partnership, which will now cover ecommerce and returns in addition to retail. This collaboration, which started in 2019, originally focused on supplying OBI's retail stores in Poland. Over time, it has expanded to include managing online orders and deliveries, as well as handling returns for OBI's customers.

It's a good idea to stay ahead of others, which is why investors should consider stocks like GXO Logistics and Honeywell. Both companies are likely to gain from an increase in e-commerce spending, leading to more investment in the future.

A recent survey shows that British shoppers intend to spend an average of £352 on Christmas gifts this year. Among those aged 25-34, many are likely to take advantage of Black Friday sales, with 1 in 8 shoppers planning to do most of their Christmas shopping during this time. Overall, 54% of Brits are expected to use special deal days like Black Friday and Cyber Monday for their holiday purchases.

GXO Logistics, Inc. (NYSE:GXO) will hold its Q3 2024 Earnings Conference Call on November 5, 2024, at 8:30 AM ET. The call will feature company leaders, including Malcolm Wilson, the CEO, and Baris Oran, the CFO. Various analysts from different financial institutions will also participate in the discussion.

GXO Logistics (GXO) reported quarterly earnings of $0.79 per share, which is higher than the Zacks Consensus Estimate of $0.78 per share. This is an increase compared to earnings of $0.69 per share from the same time last year.