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Mar 31, 2020
XPO Logistics Q1 2020 Earnings Report
XPO Logistics' financial performance declined in Q1 2020 due to the impact of the COVID-19 pandemic.
Key Takeaways
XPO Logistics reported a decrease in revenue, net income, and operating income for Q1 2020 compared to the same period in 2019, primarily due to the impact of the COVID-19 pandemic in mid-March. However, the company maintains a strong liquidity position and is focused on generating free cash flow.
Revenue decreased to $3.86 billion, compared to $4.12 billion in Q1 2019.
Net income attributable to common shareholders was $21 million, down from $43 million in Q1 2019.
Operating income was $81 million, compared to $132 million in Q1 2019.
The company has $2.5 billion in liquidity and is on track to generate hundreds of millions of dollars in free cash flow this year.
XPO Logistics
XPO Logistics
Forward Guidance
The company withdrew its full-year 2020 guidance on April 23, 2020 in light of the COVID-19 pandemic.