Less-than-truckload carrier XPO beat first-quarter expectations Thursday and provided commentary that sent shares higher.
XPO (NYSE: XPO) reported adjusted earnings per share of 56 cents, which was 10 cents higher than the consensus estimate and the first quarter of 2022. The result excluded transaction costs from the spinoff of its brokerage unit RXO (NYSE: RXO) and the decision to retain its European business unit. Restructuring costs in both of its segments were also excluded.
Less-than-trucklo...