XPO Logistics releases Q2 2022 results

Improves North American LTL operating ratio to 82.5%, and improves adjusted operating ratio by 70 basis points year-over-year to 80.4%

Revenue increased to $3.23 billion for the second quarter, compared with $3.19 billion for the same period in 2021. Net income from continuing operations attributable to common shareholders was $141 million for the second quarter, compared with $113 million for the same period in 2021. Operating income was $230 million for the second quarter, compared with $191 million for the same period in 2021. Diluted earnings from continuing operations per share was $1.22 for the second quarter, compared with $1.00 for the same period in 2021.

Adjusted net income from continuing operations attributable to common shareholders, a non-GAAP financial measure, increased to $209 million for the second quarter, compared with $138 million for the same period in 2021. Adjusted diluted earnings from continuing operations per share, a non-GAAP financial measure, was $1.81 for the second quarter, compared with $1.22 for the same period in 2021.

Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, increased to $405 million for the second quarter, compared with $330 million for the same period in 2021.

For the second quarter 2022, the company generated $199 million of cash flow from operating activities and $73 million of free cash flow, a non-GAAP financial measure.

Reconciliations of non-GAAP financial measures used in this release are provided in the attached financial tables.