XPO: 3Q Earnings Snapshot
GREENWICH, Conn. (AP) _ XPO Logistics Inc. (XPO) on Wednesday reported third-quarter earnings of $109 million.
The Greenwich, Connecticut-based company said it had profit of 74 cents per share. Earnings, adjusted to extinguish debt and for non-recurring costs, came to 89 cents per share.
The results fell short of Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1 per share.
The freight management company posted revenue of $4.34 billion in the period, which also did not meet Street forecasts. Nine analysts surveyed by Zacks expected $4.38 billion.
XPO shares have fallen almost 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $90.07, a rise of 30 percent in the last 12 months.