Apex Trader Funding - News
XPO Surpasses Q2 Expectations With 57% Earnings Growth; CEO Sees 'Long Runway For Future Margin Expansion'
XPO, Inc. (NYSE:XPO) shares are trading higher after it reported second-quarter FY24 results.
Revenue growth of 8.5% Y/Y to $2.097 billion, beating the consensus of $2.072 billion. The increase in revenue was aided by higher yield and tonnage per day in the North American LTL segment.
Operating income was $197 million, compared to $107 million a year ago. Adjusted EPS was $1.12, up 57.7% Y/Y, beating the consensus of $1.01.
Adjusted EBITDA increased 40.6% Y/Y to $343 million in the quarter, and the margin expanded to 16.5% from 12.7% last year in the same quarter.
North American Less-Than-Truckload revenue was $1.27 billion (+12.0% Y/Y). The adjusted operating ratio was 83.2%, up 440 bps YoY.
The segment saw a 4.5% Y/Y increase ...