- XPO Logistics (NYSEMKT:XPO) +10.6% AH after reporting Q2 earnings that easily beat Wall Street expectations in its first profitable quarter in at least four years.
- XPO says Q2 adjusted EBITDA rose to $354.9M from $79.7M for the year-ago period, and reports a record $170M of free cash flow; XPO raises its full-year targets for adjusted EBITDA to at least $1.265B from $1.25B and free cash flow to at least $150M from an earlier range of $100M-$150M.
- “We reached a positive inflection point in the evolution of our business,” says CEO Brad Jacobs, who calls the results a “blowout quarter."
- "They’re executing,” says Avondale analyst Donald Broughton. “To get to the size they are, they proved that they’re first class in acquiring companies, and these results are demonstrating that they’re also first class in operating companies."