By the same token, the company has had a hard time producing a truly impressive return on invested capital, and the company's free cash flow generation capabilities have always been limited--maintaining that network of planes, trucks and so on takes a lot of capital. Looking at the company's fiscal fourth quarter earnings, it looks like investors are willing to give the company another pass--margins and volumes were not that exceptional (nor was guidance), but the performance wasn't as bad as the results of other transportation and logistics companies might have suggested.
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