Reports highest revenue of any quarter in company history
Provides 2022 guidance for adjusted EBITDA of $1.36 billion to $1.40 billion and adjusted diluted EPS of $5.00 to $5.45, reflecting year-over-year increases of 11% and 22%, respectively, at the mid-point of each range
Expects 2022 adjusted operating ratio in North American LTL to inflect to year-over-year improvement mid-year
XPO Logistics, Inc. (NYSE: XPO) today announced its financial results for the fourth quarter 2021. Revenue increased to $3.36 billion for the fourth quarter, compared with $2.94 billion for the same period in 2020. Net income from continuing operations attributable to common shareholders was $126 million for the fourth quarter, compared with $34 million for the same period in 2020. Operating income was $174 million for the fourth quarter, compared with $153 million for the same period in 2020. Income from continuing operations was $126 million, compared with $66 million for the same period in 2020. Diluted earnings from continuing operations per share was $1.08 for the fourth quarter, compared with $0.33 for the same period in 2020.
Adjusted net income attributable to common shareholders, a non-GAAP financial measure, was $155 million for the fourth quarter, compared with $54 million for the same period in 2020. Adjusted diluted earnings from continuing operations per share, a non-GAAP financial measure, was $1.34 for the fourth quarter, compared with $0.53 for the same period in 2020.
Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, increased to $323 million for the fourth quarter, compared with $289 million for the same period in 2020.
For the fourth quarter 2021, the company generated $98 million of cash flow from operating activities and $57 million of free cash flow, a non-GAAP financial measure. For the full year 2021, the company generated $656 million of cash flow from operating activities and $475 million of free cash flow.
Reconciliations of non-GAAP financial measures used in this release are provided in the attached financial tables.