PR: XPO Logistics announces first-quarter 2020 results

PRESS RELEASE

Greenwich, Conn. May 4, 2020 – XPO Logistics, Inc. (NYSE: XPO) today announced financial results for the first quarter 2020. Revenue was $3.86 billion for the quarter, compared with $4.12 billion for the same period in 2019. Net income attributable to common shareholders was $21 million for the quarter, compared with $43 million for the same period in 2019. Operating income was $81 million for the quarter, compared with $132 million for the same period in 2019. Diluted earnings per share was $0.20 for the quarter, compared with $0.37 for the same period in 2019.

Adjusted net income attributable to common shareholders, a non-GAAP financial measure, was $49 million for the first quarter 2020, compared with $59 million for the same period in 2019. Adjusted diluted earnings per share, a non-GAAP financial measure, was $0.47 for the quarter, compared with $0.51 for the same period in 2019.

Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, was $333 million for the first quarter 2020, compared with $343 million for the same period in 2019. Adjusted EBITDA for the first quarter 2020 excludes $47 million of transaction, integration and restructuring costs, primarily related to the company’s terminated review of strategic alternatives.

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