01:04 PM EDT, 04/24/2024 (MT Newswires) -- GXO Logistics ( GXO ) reported Wednesday preliminary Q1 results, which include a net loss of about $36 million on revenue of around $2.5 billion.

GXO said the loss was mainly due to a $63 million expense associated with legacy litigation. It plans to release the results May 7.

The company reiterated its outlook for the full year 2024 on a standalone basis. It expects adjusted EPS of $2.70 to $2.90 on organic revenue growth of 2% to 5%.

Shares of the company were down more than 2% in recent trading.

Price: 48.70, Change: -1.44, Percent Change: -2.87