Whopping $50bn FedEx Freight? Or?
Running the numbers
GM: RAISING THE ROOF GGM: IN FULL THROTTLE GZIM: MAERSK BOOST KNIN: READ-ACROSSMAERSK: NOT ENOUGHMAERSK: GUIDANCE UPGRADEZIM: ROLLERCOASTERCAT: HEAVY DUTYMAERSK: CATCHING UP PG: DESTOCKING PATTERNSPG: HEALTH CHECKWTC: THE FALLGXO: DEFENSIVE FWRD: RALLYING ON TAKEOVER TALKODFL: STEADY YIELDVW: NEW MODEL NEEDEDWTC: TAKING PROFIT
GM: RAISING THE ROOF GGM: IN FULL THROTTLE GZIM: MAERSK BOOST KNIN: READ-ACROSSMAERSK: NOT ENOUGHMAERSK: GUIDANCE UPGRADEZIM: ROLLERCOASTERCAT: HEAVY DUTYMAERSK: CATCHING UP PG: DESTOCKING PATTERNSPG: HEALTH CHECKWTC: THE FALLGXO: DEFENSIVE FWRD: RALLYING ON TAKEOVER TALKODFL: STEADY YIELDVW: NEW MODEL NEEDEDWTC: TAKING PROFIT
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.”
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