XPO(US:XPO) ZACKSยท2024-08-01 15:07Core 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].