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Dec 31, 2022
XPO Logistics Q4 2022 Earnings Report
Reported solid revenue growth and strong year-over-year increases in adjusted EBITDA, adjusted EPS and free cash flow.
Key Takeaways
XPO Logistics announced its Q4 2022 financial results, reporting revenue of $1.83 billion. The company's North American LTL business achieved a 26% increase in operating income and a 20% increase in adjusted EBITDA. The company reported a net loss from continuing operations attributable to common shareholders of $36 million, or a diluted loss from continuing operations per share of $0.31.
Revenue was $1.83 billion, compared to $1.77 billion for the same period in 2021.
Net loss from continuing operations was $36 million, or a diluted loss per share of $0.31.
Adjusted EPS increased to $0.98, compared to $0.64 for the same period in 2021.
Free cash flow was $107 million for the quarter.
XPO Logistics
XPO Logistics
XPO Logistics Revenue by Segment
Revenue by Segment
North American Less-Than-Truckload Revenue
CapyFin.comEuropean Transportation Revenue
CapyFin.com Forward Guidance
XPO is confident that they will achieve their long-term LTL outlook and deliver superior shareholder value.
Positive Outlook
- Growth plan for LTL is to invest in capacity ahead of demand and earn market share by providing best-in-class service.
- Grew tonnage and shipment count year-over-year at a time when the industry saw these metrics decline.
- Strategic change in channel mix will be a tailwind for both volume and yield as freight demand improves.
- Tonnage was up year-over-year and trended better than typical seasonality in January.
- Employee satisfaction was up sharply to the highest rating in more than a decade.
Challenges Ahead
- Net loss from continuing operations attributable to common shareholders of $36 million for the fourth quarter 2022
- Net loss includes a $64 million non-cash goodwill impairment charge related to European Transportation
- $42 million of transaction and integration costs
- $35 million of restructuring charges
- Yield came in at the low end of our outlook
Revenue & Expenses
Visualization of income flow from segment revenue to net income