GREENWICH, Conn., Oct. 30, 2024 (GLOBE NEWSWIRE) -- XPO (NYSE: XPO) today announced its financial results for the third quarter 2024. The company reported diluted earnings from continuing operations per share of $0.79, compared with $0.72 for the same period in 2023, and adjusted diluted earnings from continuing operations per share of $1.02, compared with $0.88 for the same period in 2023. Third Quarter 2024 Summary Results | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------- ...

GREENWICH, Conn., Oct. 24, 2024 (GLOBE NEWSWIRE) -- XPO (NYSE: XPO), a leading provider of freight transportation in North America, has been named one of "America's Most Reliable Companies" for 2025 by Newsweek magazine. The inaugural list recognizes U.S.-based companies that stand out for consistent service and dependability. XPO is one of the highest-ranked transportation companies cited by Newsweek. Mario Harik, chief executive officer of XPO, said, "Our team is committed to providing world-class service ...

Wall Street expects a year-over-year increase in earnings on higher revenues when XPO (XPO) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on October 30, 2024, might help the stock move higher if these key numbers are better than expectat ...

Group 1 - XPO will hold its third quarter conference call and webcast on October 30, 2024, at 8:30 a.m. Eastern Time, with results released earlier that morning [1] - The company is a leader in asset-based less-than-truckload (LTL) freight transportation in North America, moving 18 billion pounds of freight per year [2] - XPO serves approximately 53,000 customers with 615 locations and 38,000 employees in North America and Europe [2] Group 2 - The conference call will be accessible via toll-free numbers for US/Canada and international callers, with a replay available until November 29, 2024 [1] - The company is headquartered in Greenwich, Connecticut, USA, and utilizes proprietary technology to enhance its operations [2] - Investor and media contact information is provided for further inquiries [3]

GREENWICH, Conn., Sept. 24, 2024 (GLOBE NEWSWIRE) -- XPO (NYSE: XPO), a leading provider of freight transportation in North America, has been named to the 2025 FreightTech 100 list by FreightWaves, a global provider of supply chain market intelligence. This is XPO's seventh consecutive appearance on the FreightTech 100, which recognizes the most innovative companies in the freight transportation industry. XPO is the only LTL transportation provider on the list this year. Jay Silberkleit, chief information o ...

I last covered XPO, Inc. (NYSE: XPO ) in January 2024. At the time, my investment thesis was built around the fact that with the bankruptcy of Yellow Corp, an overleveraged trucking peer that was facing challenges, XPO would I'm an insurance Case Manager with a deep interest in investing. My investment philosophy is all about buying high quality stocks and great businesses. My favorite businesses are those led by disciplined capital allocators, earn exceptional returns on capital, and can compound their inv ...

GREENWICH, Conn., Aug. 24, 2024 (GLOBE NEWSWIRE) -- Three drivers from XPO (NYSE: XPO), a leading provider of LTL freight transportation in North America, took home top awards tonight at the 2024 National Truck Driving Championships (NTDC). The competition, known as the "Super Bowl of Safety," was held in Indianapolis from August 21 to 24. The XPO drivers honored at this year's national championships were: Brandon Hardy (Las Vegas, Nevada): First place in the five-axle class. Brandon has over one million ac ...

Core Viewpoint - XPO, Inc. reported strong 2Q24 results with an 8.5% year-over-year revenue growth, reaching $2.079 billion, driven by both North American Less-Than-Truckload and European Transportation segments, alongside improved adjusted margins [2][8] Revenue and Segment Performance - The North American LTL segment accounted for 61% of total revenue, growing approximately 12% year-over-year to $1.272 billion, while the European Transportation segment grew 3.5% year-over-year to $808 million [7][10][12] - Overall, operating income increased 84.1% year-over-year from $107 million to $197 million, and adjusted EBITDA rose 40.6% from $244 million to $343 million, with an adjusted EBITDA margin of 16.5% compared to 12.7% in the previous period [8] Service Quality and Operational Efficiency - XPO achieved record-high yield of $23.56, a 9% increase year-over-year, while damage claims as a percentage of revenue decreased to a record low of 0.2%, down from around 1% prior to LTL 2.0 implementation, indicating an 80% reduction in damage claims [5][11][15] - The company invested $581 million in gross capex in 2023, nearly tripling its 2018 investment, and added 1,900 new tractors, reducing the average age of its fleet to 4 years, which contributed to a double-digit decline in maintenance costs [6] Strategic Initiatives and Market Positioning - XPO's strategic initiatives, including the acquisition of 28 service centers, are expected to enhance capacity and efficiency, with 14 centers already opened and 10 more anticipated to begin operations in the second half of 2024 [6] - The company continues to focus on high-quality service delivery, which has resulted in lower damage claims and higher yields, creating a competitive advantage in the freight transportation market [4][5] Future Outlook and Valuation - XPO forecasts a revenue estimate of approximately $8.19 billion for 2024, with an EPS of $3.60, and anticipates continued improvement in operating ratios and EPS for 2025, despite acknowledging a soft but stable freight market [13] - The forward revenue growth rate for XPO is projected at 4.44%, outperforming peers' median of 2.67%, while the adjusted diluted EPS increased from $0.71 to $1.12, representing a year-over-year growth of 57.7% [13][8]

Financial Data and Key Metrics Changes - Company-wide revenue grew year-over-year by 9% to $2.1 billion, with adjusted EBITDA increasing by 41% to $343 million and adjusted diluted EPS rising by 58% to $1.12 [5][14][17] - Adjusted EBITDA margin improved by 380 basis points year-over-year to 16.5% [16] - Net income from continuing operations surged by 384% to $150 million, with diluted earnings per share of $1.25 [17] Business Line Data and Key Metrics Changes - LTL segment revenue increased by 12% year-over-year, with adjusted operating income growing by 51% to $214 million and adjusted EBITDA rising by 43% to $297 million [14][16] - European segment revenue grew by 4% year-over-year, with adjusted EBITDA increasing by 7% to $49 million [12][16] Market Data and Key Metrics Changes - In the UK, EBITDA growth was in the high teens, while in France, it was in the high single digits [12] - Local customer shipments increased by over 9% compared to the previous year [10] Company Strategy and Development Direction - The company is focused on four strategic pillars: providing world-class service, investing in network capacity, improving yield, and enhancing cost efficiency [5][9][11] - The company has opened 14 out of 28 new service centers, with plans to open another 10 in the second half of the year [8] - Yield excluding fuel grew by 9% year-over-year, with contract renewal pricing increasing by high single digits for the fourth consecutive quarter [9][21] Management's Comments on Operating Environment and Future Outlook - The management noted a stable but soft freight market, with expectations of outperforming seasonality in tonnage for the third quarter [25][26] - The company anticipates strong margin improvement and earnings growth in 2025, driven by service improvements and premium services [30][31] Other Important Information - The company reduced purchased transportation costs by 22% year-over-year, achieving a record low of 15.9% of linehaul miles outsourced [11][60] - The company ended the quarter with $250 million in cash and $836 million in total liquidity [18] Q&A Session Summary Question: Thoughts on market share gains and operating ratio for Q3 - Management indicated a stable freight market with expectations of tonnage outperforming seasonality in Q3, with a strong yield outlook [25][26] Question: Full year guidance for operating ratio - Management expects strong margin improvement for 2024, aiming for the high end of the initial guidance range [29] Question: Accessorial pricing gap and services rollout - Management noted a 5-point gap in accessorial revenue compared to best-in-class peers, with ongoing efforts to close this gap through new service offerings [33][34] Question: Impact of new terminal openings on profitability - New service centers are expected to be OR-neutral initially, with profitability improving as they mature [41][42] Question: Competitive pricing environment - Management confirmed a favorable pricing environment, with contract renewals up 8% in Q2 and expectations for similar performance in Q3 [52] Question: Growth in local channel versus national accounts - Local channel shipments grew above 9%, significantly outpacing the overall network growth, indicating a shift towards more profitable local relationships [62]

Core Viewpoint - XPO reported strong financial performance for the quarter ended June 2024, with revenue and earnings exceeding expectations, indicating positive growth trends in its operations [1][12]. Financial Performance - Revenue for the quarter was $2.08 billion, reflecting an 8.5% increase year-over-year and a surprise of +0.18% over the Zacks Consensus Estimate [1]. - Earnings per share (EPS) reached $1.12, compared to $0.71 in the same quarter last year, resulting in an EPS surprise of +10.89% against the consensus estimate of $1.01 [1]. Key Metrics - Shipments per day were reported at 53,519, slightly above the estimated 53,416 [3]. - Gross revenue per hundredweight (including fuel surcharges) was $28.04, marginally below the estimate of $28.10 [3]. - Gross revenue per hundredweight (excluding fuel surcharges) was $23.56, compared to the estimate of $23.68 [4]. - Average weight per shipment was 1,358 lbs, exceeding the estimated 1,354.16 lbs [5]. - Pounds per day totaled 72.66 million, surpassing the estimate of 72.37 million [6]. - Adjusted operating ratio was 83.2%, slightly better than the average estimate of 83.3% [7]. - Operating ratio stood at 84.1%, significantly better than the estimated 87% [8]. Segment Performance - Revenue from the European Transportation Segment was $808 million, exceeding the average estimate of $801.43 million and showing a year-over-year increase of +3.5% [9]. - Revenue from the North American Less-Than-Truckload Segment was $1.27 billion, matching the estimate and reflecting a +12% change compared to the previous year [10]. - Adjusted EBITDA for the Corporate segment was -$3 million, better than the estimated -$4.90 million [11]. - Adjusted EBITDA for the European Transportation Segment was $49 million, surpassing the average estimate of $44.46 million [11]. Stock Performance - XPO shares have returned +7.3% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change [12].