Latest News by Industry
![Xpo, Inc. [XPO] reports annual net loss of $189.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FXPO.png&w=1200&q=75)
XPO, Inc. [XPO] has reported a net loss of $189.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $7.7 billion
Based in GREENWICH, Connecticut, XPO, Inc. operates in the TRANSPORT sector.
In the 12 Months Ended December 31, 2023, XPO reported total revenue of $7.744 billion, slightly up from $7.718 billion in the previous year. This increase indicates a steady growth trend in the company's top-line performance.
Costs of goods sold and operating expenses also saw a slight increase in the current reporting period. Salaries, wages, and employee benefits amounted to $3.159 billion, compared to $2.945 billion in the previous year. Similarly, purchased transportation costs were $1.760 billion, up from $1.964 billion, and fuel, operating expenses, and supplies totaled $1.623 billion, an increase from $1.687 billion.
Operating income for the period was $438 million, showing improvement from $377 million in the previous year. This suggests that the company's operational efficiency and profitability have increased over time.
Net income for the 12 Months Ended December 31, 2023, was $189 million, a significant decrease from $666 million in the same period last year. This decline may raise concerns about the company's overall financial performance and efficiency in generating profits.
In terms of earnings per share, XPO reported basic earnings per share attributable to common shareholders of $1.64, down from $5.79 in the previous year. Diluted earnings per share were $1.60, compared to $5.76 in the previous year. These figures indicate a decrease in the company's earnings per share, which may impact investor sentiment.
Overall, while XPO's revenue and operating income showed positive growth trends, the significant drop in net income and earnings per share raises questions about the company's ability to maintain profitability and shareholder value in the coming periods. Investors and analysts may closely monitor future financial reports to assess the company's performance and strategic direction.
Also Read: