XPO (XPO) Tops Q3 Earnings and Revenue Estimates

Core Insights - XPO reported quarterly earnings of $1.02 per share, exceeding the Zacks Consensus Estimate of $0.89 per share, and showing an increase from $0.88 per share a year ago, resulting in an earnings surprise of 14.61% [1] - The company achieved revenues of $2.05 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 2.29% and up from $1.98 billion year-over-year [2] - XPO shares have increased approximately 37.3% year-to-date, outperforming the S&P 500's gain of 22.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.67 on revenues of $1.94 billion, and for the current fiscal year, it is $3.52 on revenues of $8.04 billion [7] - The estimate revisions trend for XPO is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Transportation - Truck industry, to which XPO belongs, is currently ranked in the bottom 11% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact XPO's stock performance [5]