Freight delivery company XPO (NYSE:XPO) will be announcing earnings results tomorrow before the bell. Here’s what to look for.

XPO beat analysts’ revenue expectations by 1.7% last quarter, reporting revenues of $2.05 billion, up 3.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

Is XPO a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting XPO’s revenue to decline 1.2% year on year to $1.92 billion, a reversal from the 6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.63 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. XPO has missed Wall Street’s revenue estimates twice over the last two years.

Looking at XPO’s peers in the ground transportation segment, some have already reported their Q4 results, giving us a hint as to what we can expect. ArcBest’s revenues decreased 8.1% year on year, meeting analysts’ expectations, and Saia reported revenues up 5%, topping estimates by 1.5%. ArcBest traded down 3% following the results while Saia’s stock price was unchanged.

Read our full analysis of ArcBest’s results here and Saia’s results here.

Investors in the ground transportation segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. XPO is down 2.6% during the same time and is heading into earnings with an average analyst price target of $150.83 (compared to the current share price of $132).

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