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XPO’s Q2 earnings beat expectations behind strong LTL performance
['Todd Maiden', 'July', 'Min Read']
Yahoo Finance
Consolidated revenue of $2.36 billion was 13% higher y/y and $85 million better than expectations.
(Diesel prices were roughly 50% higher y/y in the quarter.)
Both yield and revenue per shipment (excluding fuel) improved y/y and sequentially, which was in line with management's guidance.
Table: XPO's key performance indicatorsThe LTL unit recorded a 79.9% adjusted operating ratio (inverse of operating margin), which was 300 basis points better y/y and 400 bps better than the first quarter.
Revenue per shipment outpaced adjusted cost per shipment by nearly 400 bps in the quarter.