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XPO tops 4Q profit forecasts

GREENWICH, Conn. (AP) _ XPO Logistics Inc. (XPO) on Tuesday reported fourth-quarter net income of $29.8 million, after reporting a loss in the same period a year earlier.

The Greenwich, Connecticut-based company said it had profit of 22 cents per share. Earnings, adjusted for one-time gains and costs, were 24 cents per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The freight management company posted revenue of $3.68 billion in the period, matching Street forecasts.

For the year, the company reported net income of $69 million, or 53 cents per share, swinging to a profit in the period. Revenue was reported as $14.62 billion.

XPO shares have risen 12 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $48.38, an increase of 83 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XPO at https://www.zacks.com/ap/XPO

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Keywords: XPO Logistics, Earnings Report