XPO’s pricing, operating initiatives drive Q3 beat
Driven by higher volumes and stronger pricing, XPO once again exceeded expectations as these factors continue to amplify the impact of its operational efficiency initiatives.
XPO once again outperformed expectations, driven by higher volumes and stronger pricing that continue to amplify the impact of its operational efficiency initiatives.
XPO (NYSE: XPO) reported third-quarter adjusted earnings per share of $1.70, which was 13 cents ahead of the consensus estimate and 63 cents higher year over year. The adjusted EPS number excluded transaction and restructuring costs, among other items.
Consolidated revenue of $2.37 billion was 12% higher y/y but $10 million below analysts’ expectations.
Less-than-truckload revenue increased 17% y/y to $1.47 billion. Revenue was 9% higher excluding fuel surcharges. (Diesel fuel prices were 48% higher y/y in the quarter.)
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