XPO: 1Q Earnings Snapshot
GREENWICH, Conn. (AP) _ XPO Logistics Inc. (XPO) on Monday reported first-quarter profit of $23 million.
The Greenwich, Connecticut-based company said it had net income of 20 cents per share. Earnings, adjusted for one-time gains and costs, came to 47 cents per share.
The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The freight management company posted revenue of $3.86 billion in the period.
XPO shares have dropped 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $63.79, falling slightly in the last 12 months.