XPO posts 10pc fourth quarter revenue increase to US$3.68 billion
NEW YORK listed XPO Logistics announced financial results for the "fourth quarter and full year 2016", though its only reference to the full year was a brief statement on cash flow.
"For the full year 2016, the company generated US$625.4 million of cash flow from operations and $210.9 million of free cash flow, a non-GAAP financial measure," was all that was said about the full year.
This despite the headline over its press release that said: "XPO Logistics Announces Fourth Quarter and Full Year 2016 Results."
"For the fourth quarter of 2016, revenue increased 10 per cent year-over-year to $3.68 billion," it said.
"Net income attributable to common shareholders was $27.3 million for the quarter, or earnings of $0.22 per diluted share, compared with a net loss attributable to common shareholders of $62.8 million, or a loss of $0.58 per diluted share, for the same period in 2015," said the Connecticut firm.
The Motley Fool financial website commented: "XPO Logistics' fourth-quarter results closed a strong year for the company. Revenue was up 10 per cent to $3.68 billion, which was slightly faster than most investors had expected to see from XPO.
"Even better, net income of $27.3 million was a record result for a fourth-quarter performance, and even after making one-time adjustments, adjusted earnings of $0.24 per share were $0.03 better than the consensus forecast and a dramatic improvement over the loss the company posted in the fourth quarter of 2015," said Motley Fool.