XPO Logistics Reports Mixed Q3 Earnings

XPO Logistics Inc (NYSE:XPO) reported a third-quarter FY22 sales decline of 7% year-on-year, to $3.04 billion, missing the consensus of $3.10 billion.
Excluding Q3 FY21 revenue from the company's intermodal operation, which was sold in March 2022, Q3 FY22 revenue increased year-over-year by 3%.
Segment Revenue: North American Less-Than-Truckload Segment rose 12.4%, Brokerage and other segment declined 15%.
The operating margin was 6.1% and operating income for the quarter jumped 65.2% to $185 million.
The company held $544 million in cash and equivalents as of September 30, 2022. Net cash provided by operating activities for nine months totaled $664 million.
Adjusted EPS of $1.45 beat the analyst consensus of $1.34.
Adjusted EBITDA increased 14.7% to $352 million with a margin of $11.6%.
Price Action: XPO shares closed higher by 2.53% at $50.67 on Friday.
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