Daily Archives: February 21, 2017

XPO Logistics Announces Fourth Quarter and Full Year 2016 Results

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GREENWICH, Conn. – February 21, 2017 – XPO Logistics, Inc. (NYSE: XPO) today announced financial results for the fourth quarter and full year 2016. For the fourth quarter of 2016, revenue increased 10.0% year-over-year to $3.68 billion. Net income attributable to common shareholders was $27.3 million for the quarter, or earnings of $0.22 per diluted share, compared with a net loss attributable to common shareholders of $62.8 million, or a loss of $0.58 per diluted share, for the same period in 2015.

Adjusted net income attributable to common shareholders, a non-GAAP financial measure, was $29.8 million, or adjusted earnings of $0.24 per diluted share for the fourth quarter of 2016, excluding the items detailed below. This compares with an adjusted net loss attributable to common shareholders of $23.1 million, or an adjusted loss of $0.21 per diluted share, for the same period in 2015. Reconciliations of non-GAAP financial measures used in this release are provided in the attached financial tables.

The adjusted net income attributable to common shareholders for the quarter excludes: $34.9 million, or $21.8 million after-tax, of integration and rebranding costs; $16.5 million, or $10.1 million after-tax, of non-cash debt extinguishment costs related to the sale of the truckload unit; a benefit of $33.0 million, or $20.0 million after-tax, from unrealized gains on foreign exchange; and a $9.6 million benefit to our tax liability due to lower tax rates enacted in France.

Read more at www.xpologistics.com

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FedEx Launches 5th Annual Small Business Grant Contest

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MEMPHIS, Tenn., February 21, 2017 — FedEx Corp. (NYSE: FDX) today announced that it will launch its 5th annual Small Business Grant Contest on February 21, 2017. This year, the contest offers grants and services to ten small businesses, distributing a collective prize pool of $120,500—the largest sum since the contest’s inception. Included in the sum, this year the FedEx Small Business Grant Contest is not only awarding grants, but the winners will also receive an additional dollar amount in credit to use towards FedEx Office print and business services to help run their business.

Read more at fedex.com

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