XPO Logistics (NYSE: XPO) reported Q1 EPS of $0.47, $0.04 worse than the analyst estimate of $0.51. Revenue for the quarter came in at $3.86 billion versus the consensus estimate of $3.98 billion.

CEO Comments

Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, “Our results were tracking well until mid-March, when COVID-19 reached pandemic proportions. At that point, our end markets rapidly deteriorated. We acted quickly and took comprehensive safety measures to protect our employees on the front line. I’m immensely grateful to our team for stepping up to the challenge of providing essential supply chain services in this environment.”

Jacobs continued, “Importantly, XPO has $2.5 billion of liquidity and an ironclad business model. Even against the current backdrop, we’re on track to generate hundreds of millions of dollars of free cash flow this year. We’re ready to serve customers through the fits and starts of the recovery, however long it takes, with our e-commerce capabilities, intelligent automation in our warehouses, a digitally connected transportation platform and keen visibility into operating data.”

2020 Guidance

The company withdrew its full-year 2020 guidance on April 23, 2020 in light of the COVID-19 pandemic.

For earnings history and earnings-related data on XPO Logistics (XPO) click here.