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XPOLogisticS XPO Logistics Announces Third Quarter 2021 Results Reports highest revenue of any quarter in company history Updates full year 2021 guidance based on higher - than - expected growth Announces LTL network expansion of terminal capacity , trailer fleet and driver training in 2022 GREENWICH , Conn . - November 2 , 2021 - XPO Logistics , Inc. ( NYSE : XPO ) today announced its financial results for the third quarter 2021. Revenue increased to $ 3.27 billion for the third quarter , compared with $ 2.68 billion for the same period in 2020. Net income from continuing operations attributable to common shareholders was $ 21 million for the third quarter , compared with $ 28 million for the same period in 2020. Operating income was $ 112 million for the third quarter , compared with $ 138 million for the same period in 2020. Income from continuing operations was $ 21 million , compared with $ 37 million in prior year quarter . Diluted earnings from continuing operations per share was $ 0.19 for the third quarter , compared with $ 0.27 for the same period in 2020 . Adjusted net income from continuing operations attributable to common shareholders , a non - GAAP financial measure , was $ 109 million for the third quarter , compared with $ 44 million for the same period in 2020. Adjusted diluted earnings from continuing operations per share , a non - GAAP financial measure , was $ 0.94 for the third quarter , compared with $ 0.42 for the same period in 2020 . Adjusted earnings before interest , taxes , depreciation and amortization ( " adjusted EBITDA " ) , a non GAAP financial measure , increased to $ 307 million for the third quarter , compared with $ 268 million for the same period in 2020 . For the third quarter 2021 , the company generated $ 250 million of cash flow from operating activities of continuing operations and $ 185 million of free cash flow , a non - GAAP financial measure . Reconciliations of non - GAAP financial measures used in this release are provided in the attached financial tables . 2021 Updated Guidance On November 2 , 2021 , the company updated its full year 2021 financial targets¹ , including a raise in fourth quarter adjusted EBITDA : ● Adjusted EBITDA of $ 300 million to $ 305 million generated in the fourth quarter , implying $ 1.228 billion to $ 1.233 billion of adjusted EBITDA for the full year , which increases the midpoint of the updated full year guidance to $ 1.231 billion - $ 16 million higher than the prior midpoint ; 1