Dramatic rebound for XPO Logistics?
USA-based XPO Logistics has reported its financial results for the third quarter 2020. Chairman and CEO Brad Jacobs: “Our business rebounded dramatically in the third quarter. Revenue, adjusted ebitda, adjusted EPS and free cash flow were all decisively higher than expected."
Altogether, revenues increased by 1.6% to USD 4.22 billion, compared to USD 4.15 billion for the third quarter 2019. Segment revenue growth was led by strong demand from e-commerce and other consumer-related verticals.
Yet, net income shrunk by 28.2% to USD 84 million (USD 117 million in Q3/2019). Operating income moved sideways with USD 223 million (USD 229 million).
For Q3/2020, the company generated USD 298 million of cash flow from operations and USD 247 million of free cash flow.
The forecast of 2020 is an adjusted ebitda of approximately USD 1.35 billion and free cash flow of approximately USD 500 million for the full year 2020. (sh)