XPO reported adjusted earnings per share of $0.88 for the quarter, exceeding the consensus estimate of $0.76 by $0.12. Revenue came in at $2.01 billion, topping forecasts of $1.95 billion and representing a 4.7% year-over-year increase. The stronger-than-expected results prompted a sizable gap higher in XPO shares before the opening bell, as investors reacted to both the EPS beat and revenue outperformance.

The company delivered a net margin of 4.13% and returned 26.14% on equity for the quarter. In its North American less-than-truckload segment, yield excluding fuel rose 5.2% year-over-year while tonnage per day declined by 4.5%. Adjusted operating income in that division increased by 13.8% to $181 million, improving the adjusted operating ratio by 180 basis points to 84.4%. In Europe, the transportation segment generated revenue growth of 10.6% to $846 million and adjusted EBITDA of $32 million, up 18.5% from the prior year period.

Wall Street sentiment remains constructive: one firm assigns a Strong Buy, nineteen maintain Buy ratings, four rate the stock as Hold and two recommend Sell. The average consensus target stands at $156.91, reflecting a Moderate Buy consensus. Recent reports include reaffirmations of Buy or Overweight ratings by Goldman Sachs, Barclays, Stephens and Bank of America, with target adjustments ranging from $145 to $180.

Institutional investors control approximately 97.7% of XPO’s shares. Notable moves in the fourth quarter include a $12.4 million new stake by iA Global Asset Management, a $549,000 position by North Dakota State Investment Board and a significant $152.4 million increase by Bessemer Group. The company exited the quarter with a debt-to-equity ratio of 1.77, a quick and current ratio both at 1.02, and maintains a market capitalization near $21.8 billion.