From Home Furnishing Business
Last-Mile Delivery Helps XPO Logistics Bottom Line in Q4
Paced by its last-mile delivery and contract logistics businesses, XPO Logistics (NYSE: XPO) recorded a fourth-quarter profit of $27.3 million or 22 cents per share as revenue rose 10%.
The black ink reversed a net loss of $62.8 million or 58 cents per share in the previous year’s fourth quarter.
Total revenue for the most recent quarter was $3.68 billion, up from $3.34 billion in the final quarter of 2015.
"I'm pleased that we delivered record fourth quarter results for net income, cash flow from operations, adjusted EBITDA and free cash flow,” said Bradley Jacobs, chairman and CEO. “We generated the strongest growth in last mile and contract logistics, driven primarily by e-commerce, more than offsetting a weak intermodal environment. Our less-than-truckload operations in North America capped an outstanding year with a 40% increase in fourth quarter adjusted operating income.
For the 2016 calendar year, revenue totaled $14.62 billion, which was nearly double the 2015 total of $7.62 billion due to numerous acquisitions.
The full-year profit was $63.1 million or 53 cents per share. That reversed a 2015 net loss of $245.9 million or $2.65 per share.