Stock Alert: XPO Logistics Moves 8% Higher

(RTTNews) - Shares of XPO Logistics, Inc. (XPO) are3 climbing more than 8% Tuesday morning despite first-quarter earnings tumbled.

Earnings of $0.47 per share missed average estimate of 18 analysts polled by Thomson Reuters at $0.51.

Revenue was $3.86 billion for the quarter, compared with $4.12 billion for the same period last year. The consensus estimate was at $3.98 billion.

The logistics company has been badly hit by the coronavirus pandemic. However, Bradley Jacobs, chairman and chief executive officer of the company is hopeful while commenting, "Importantly, XPO has $2.5 billion of liquidity and an ironclad business model. Even against the current backdrop, we're on track to generate hundreds of millions of dollars of free cash flow this year. We're ready to serve customers through the fits and starts of the recovery, however long it takes, with our e-commerce capabilities, intelligent automation in our warehouses, a digitally connected transportation platform and keen visibility into operating data."

XPO is currently trading at $69.27. It has traded in the range of $38.47- $100.18 in the last 52 weeks.