SA: XPO Non-GAAP EPS of $0.56 beats by $0.10...

SEEKING ALPHA reports:

– XPO (NYSE:XPO): Q1 Non-GAAP EPS of $0.56 beats by $0.10.

– Revenue of $1.9B (+0.7% Y/Y) beats by $30M.

The full post is here.

Stock unchanged in pre-market.

Here are Q1 23 highlights sourced from the company’s statement released today:

“For the first quarter 2023, net income from continuing operations attributable to common shareholders was $17 million, compared with $32 million for the same period in 2022. Operating income was $58 million for the first quarter, compared with $63 million for the same period in 2022, reflecting higher transaction costs related to the RXO spin-off. Diluted earnings from continuing operations per share were $0.15 for the first quarter, compared with $0.28 for the same period in 2022.

“Adjusted net income from continuing operations attributable to common shareholders, a non-GAAP financial measure, increased to $65 million for the first quarter, compared with $53 million for the same period in 2022. Adjusted diluted earnings from continuing operations per share (“adjusted EPS”), a non-GAAP financial measure, increased to $0.56 for the first quarter, compared with $0.46 for the same period in 2022. 

“Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, increased to $210 million for the first quarter, compared with $184 million for the same period in 2022. 

“The company generated $76 million of cash flow from operating activities in the quarter. Free cash flow, a non-GAAP financial measure, was a cash usage of $140 million, after $216 million of net capital expenditures.”