XPO Logistics Posts Narrower Q1 Loss, Plans To Acquire Bridge Terminal Transport

reported a narrower loss for the first quarter on Monday. XPO Logistics' quarterly net loss available to common shareholders shrank to $15.4 million, or $0.20 per share, compared to a year-ago loss of $29.1 million, or $0.70 per share. Excluding items, the company lost $0.13 per share. Its total revenue jumped 148.9 percent to $703 million in the first quarter. However, analysts were expecting a loss of $0.22 per share on revenue of $807.21 million. The average estimate among 4 Estimize users was for a loss of $0.23 per share on revenue of $801.85 million. Total gross revenue from the company's transportation segment climbed 99.1 percent to $562.2 million for the quarter, while logistics segment posted net revenue of $140.8 million. Adjusted EBITDA climbed to $29.2 million for the first quarter, up from $0.6 million, in the year-ago period. Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, "Our first quarter performance reflects the resilience of our diversified service offering. We generated strong results in our last mile and expedite businesses, and in our logistics segment. These gains were offset by a weak spot market for freight brokerage and the disruption of our intermodal business due to the West Coast port slowdowns. March was a more broadly favorable operating environment, with an upswing that continued into April." XPO Logistics lifted its 2015 guidance to an annual revenue run rate of at least $9.5 billion from, and an annual earnings before interest, taxes, depreciation and amortization run rate of at least $625 million by December 31. The company also announced its plans to buy Bridge Terminal Transport for $100 million. XPO Logistics shares rose 1.65 percent to $48.75 in the after-hours trading session.