After surging out of the gate in 2021 following its spin-off from XPO Logistics , GXO Logistics (NYSE: GXO) shares cooled off last year.
The world's largest provider of pure-play contract logistics services fell 53% in 2022, even as the company delivered strong results. The pullback in the stock seemed to have more to do with broader concerns about a global recession, a slowdown in e-commerce demand, and the impact of inflation than the company's own performance.
GXO shared its preliminary results for 2022 at its recent Investor Day conference, reporting $9 billion in revenue, up 14% from $7.9 billion, and $725 million in adjusted EBITDA , up 16% from 2021 levels.
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Is GXO Logistics Stock a Buy?