XPO's (NYSE: XPO) work to streamline its operations paid off on the top and bottom lines in the fourth quarter, and investors are reacting to that news with a cheer. Shares of the trucking company opened Wednesday's trading session up 15% after the company delivered results for the period that surpassed analyst expectations.

2023 was a difficult year for trucking companies, as economic uncertainty reduced shipping volumes and cut into their pricing power. But XPO came into the year focused on bringing down costs and improving operations, and its efforts appear to have cushioned the company from some of the impact of the complex macroeconomic conditions.

In the fourth quarter, XPO earned $0.77 per share on revenue of $1.94 billion, beating Wall Street's consensus estimates of $0.62 per share in earnings on $1.92 billion in revenue. Its top line rose 6% year over year in a quarter that many truckers reported sales declines, and adjusted EBITDA improved by 28% from a year prior when factoring out the impact of one-time real estate gains in 2022.

Continue reading

Source Fool.com