XPO Logistics Inc. (XPO) shares soared 6.38% in the pre-market session on Thursday, following the company's better-than-expected fourth-quarter earnings results and in-line revenue numbers.
The transportation and logistics giant reported adjusted earnings per share of $0.89 for the fourth quarter, beating the consensus estimate of $0.63 by a wide margin. The robust earnings growth was driven by strong performance in the company's North American Less-Than-Truckload (LTL) segment, which saw adjusted operating income increase by 27% year-over-year.
XPO's revenue for the quarter came in at $1.92 billion, slightly missing the analysts' expectation of $1.92 billion but still representing a 4.2% increase from the prior-year period. The revenue growth was driven by higher yield, excluding fuel, and an increase in revenue per shipment in the North American LTL segment.
Commenting on the results, XPO's CEO Mario Harik said, "We're pleased to report a strong fourth quarter that caps a year of above-market earnings growth. Companywide, we delivered full-year increases of 27% in adjusted EBITDA and 31% in adjusted diluted EPS, compared with the prior year."
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