XPO Reports Fourth Quarter and Full Year 2024 Results
XPO reported strong financial results for Q4 and full year 2024. Q4 diluted earnings per share from continuing operations increased to $0.63 from $0.49 in 2023, while adjusted diluted EPS rose to $0.89 from $0.77. Full-year 2024 diluted EPS reached $3.23, up from $1.62 in 2023.
The company's Q4 revenue was $1.92 billion, slightly down from $1.94 billion in 2023, primarily due to lower fuel surcharge revenue. Operating income improved to $148 million, up from $119 million. The North American LTL segment saw yield growth of 6.3% excluding fuel, despite decreased shipments and tonnage per day. Adjusted EBITDA for Q4 2024 was $303 million, including a $34 million real estate gain.
For the full year 2024, XPO achieved a 27% increase in adjusted EBITDA and 31% growth in adjusted diluted EPS compared to 2023.
XPO ha riportato risultati finanziari solidi per il quarto trimestre e per l'intero anno 2024. Nel quarto trimestre, l'utile per azione diluito dalle operazioni continuative è aumentato a $0.63 rispetto a $0.49 nel 2023, mentre l'EPS diluito rettificato è salito a $0.89 da $0.77. L'EPS diluito per l'intero anno 2024 ha raggiunto $3.23, in crescita rispetto a $1.62 nel 2023.
Le entrate dell'azienda nel quarto trimestre sono state di $1.92 miliardi, leggermente inferiori rispetto a $1.94 miliardi nel 2023, principalmente a causa di un calo delle entrate per sovrattassa sul carburante. L'utile operativo è migliorato a $148 milioni, in aumento rispetto a $119 milioni. Il segmento LTL nordamericano ha registrato una crescita del rendimento del 6.3% escludendo il carburante, nonostante un calo delle spedizioni e della tonnellata al giorno. L'EBITDA rettificato per il quarto trimestre del 2024 è stato di $303 milioni, inclusi guadagni immobiliari di $34 milioni.
Per l'intero anno 2024, XPO ha registrato un aumento del 27% dell'EBITDA rettificato e una crescita del 31% dell'EPS diluito rettificato rispetto al 2023.
XPO reportó resultados financieros sólidos para el cuarto trimestre y para todo el año 2024. En el cuarto trimestre, las ganancias por acción diluidas de las operaciones continuas aumentaron a $0.63 desde $0.49 en 2023, mientras que el EPS diluido ajustado subió a $0.89 desde $0.77. El EPS diluido del año completo 2024 alcanzó $3.23, un aumento desde $1.62 en 2023.
Los ingresos de la empresa en el cuarto trimestre fueron de $1.92 mil millones, ligeramente inferiores a $1.94 mil millones en 2023, principalmente debido a menores ingresos por recargo de combustible. El ingreso operativo mejoró a $148 millones, por encima de $119 millones. El segmento LTL de América del Norte vio un crecimiento del rendimiento del 6.3% excluyendo combustible, a pesar de las menores remesas y tonelaje por día. El EBITDA ajustado para el cuarto trimestre de 2024 fue de $303 millones, incluyendo una ganancia inmobiliaria de $34 millones.
Para todo el año 2024, XPO logró un aumento del 27% en el EBITDA ajustado y un crecimiento del 31% en el EPS diluido ajustado en comparación con 2023.
XPO는 2024년 4분기와 연간 강력한 재무 결과를 발표했습니다. 4분기 계속 운영에서의 희석 주당 순이익은 2023년의 $0.49에서 $0.63로 증가했으며, 조정된 희석 EPS는 $0.77에서 $0.89로 상승했습니다. 2024년 전체 연도 희석 EPS는 $1.62에서 $3.23로 증가했습니다.
회사의 4분기 수익은 $1.92억 달러로, 2023년의 $1.94억 달러에서 약간 감소했으며, 이는 주로 연료 추가 요금 수익 감소 때문입니다. 운영 소득은 $119백만에서 $148백만으로 개선되었습니다. 북미 LTL 부문은 연료를 제외할 때 6.3%의 수익 증가를 보였으며, 일일 출하량과 톤수는 감소했습니다. 2024년 4분기의 조정된 EBITDA는 $303백만으로, $34백만의 부동산 이익을 포함하고 있습니다.
2024년 전체에 대해 XPO는 2023년 대비 조정 EBITDA가 27% 증가하고 조정된 희석 EPS가 31% 성장했습니다.
XPO a annoncé de solides résultats financiers pour le quatrième trimestre et pour l'année entière 2024. Au quatrième trimestre, le bénéfice par action dilué des opérations continues a augmenté à $0.63 contre $0.49 en 2023, tandis que l'EPS dilué ajusté a augmenté à $0.89 contre $0.77. L'EPS dilué pour l'année entière 2024 a atteint $3.23, en hausse par rapport à $1.62 en 2023.
Les revenus de l'entreprise au quatrième trimestre s'élevaient à $1.92 milliard, légèrement inférieurs à $1.94 milliard en 2023, principalement en raison de la baisse des revenus liés aux frais de carburant. Le bénéfice d'exploitation s'est amélioré à $148 millions, par rapport à $119 millions. Le segment LTL nord-américain a enregistré une croissance du rendement de 6.3% hors carburant, malgré une baisse des expéditions et de la tonnage par jour. L'EBITDA ajusté pour le quatrième trimestre 2024 était de $303 millions, y compris un gain immobilier de $34 millions.
Pour l'ensemble de l'année 2024, XPO a enregistré une augmentation de 27% de l'EBITDA ajusté et une croissance de 31% de l'EPS dilué ajusté par rapport à 2023.
XPO hat starke finanzielle Ergebnisse für das 4. Quartal und das Gesamtjahr 2024 berichtet. Im 4. Quartal stieg das verwässerte Ergebnis je Aktie aus fortgeführten Betrieben auf $0.63 von $0.49 im Jahr 2023, während das angepasste verwässerte EPS auf $0.89 von $0.77 anstieg. Das verwässerte EPS für das gesamte Jahr 2024 erreichte $3.23, ein Anstieg von $1.62 im Jahr 2023.
Die Umsätze des Unternehmens im 4. Quartal betrugen $1.92 Milliarden, leicht zurückgegangen von $1.94 Milliarden im Jahr 2023, hauptsächlich aufgrund rückläufiger Einnahmen aus Kraftstoffzuschlägen. Das Betriebsergebnis verbesserte sich auf $148 Millionen, eine Steigerung von $119 Millionen. Der nordamerikanische LTL-Sektor verzeichnete ein Ertragswachstum von 6.3% ohne Kraftstoff, trotz sinkender Sendungen und Tonnage pro Tag. Das angepasste EBITDA für das 4. Quartal 2024 betrug $303 Millionen, einschließlich eines Immobiliengewinns von $34 Millionen.
Für das gesamte Jahr 2024 erzielte XPO einen Anstieg von 27% beim angepassten EBITDA und ein Wachstum von 31% beim angepassten verwässerten EPS im Vergleich zu 2023.
- Q4 operating income increased 24.4% to $148 million
- Full-year adjusted EBITDA grew 27.1% to $1.27 billion
- Full-year adjusted diluted EPS increased 31.2% to $3.83
- North American LTL yield improved 6.3% excluding fuel
- Generated $189 million cash flow from operations in Q4
- Q4 revenue declined 1% to $1.92 billion
- North American LTL shipments per day decreased 4.4%
- European Transportation segment reported $11 million operating loss in Q4
- European adjusted EBITDA declined 25% to $27 million
Insights
XPO's Q4 and full-year 2024 results reveal a compelling narrative of operational excellence and strategic execution. The standout 27.1% increase in full-year adjusted EBITDA to
Key performance indicators show remarkable strength in the core North American LTL segment:
- Adjusted operating ratio improved by 30 basis points to
86.2% , indicating enhanced operational efficiency - Yield improvement of
7.8% (excluding fuel) showcases strong pricing power - Record service levels achieved while reducing outsourced linehaul miles
However, the European Transportation segment presents concerns, with an operating loss of
The company's strong cash position of
Looking ahead, the combination of pricing power, operational improvements and network optimization positions XPO well for continued margin expansion. The
GREENWICH, Conn., Feb. 06, 2025 (GLOBE NEWSWIRE) -- XPO (NYSE: XPO) today announced its financial results for the fourth quarter 2024. The company reported diluted earnings from continuing operations per share of
For the full year 2024, the company reported diluted earnings from continuing operations per share of
| Fourth Quarter and Full Year 2024 Results | |||||||||||||||||||||||||||||||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
| Revenue | Operating Income (Loss)(1) | Revenue | Operating Income (Loss)(1) | ||||||||||||||||||||||||||||||||||||||
| (in millions) | 2024 | 2023 | Change % | 2024 | 2023 | Change % | 2024 | 2023 | Change % | 2024 | 2023 | Change % | |||||||||||||||||||||||||||||
| North American LTL Segment | $ | 1,156 | $ | 1,187 | -2.6 | % | $ | 179 | $ | 149 | 20.1 | % | $ | 4,899 | $ | 4,671 | 4.9 | % | $ | 735 | $ | 542 | 35.6 | % | |||||||||||||||||
| European Transportation Segment | 765 | 753 | 1.6 | % | (11 | ) | (2 | ) | 450.0 | % | 3,173 | 3,073 | 3.3 | % | - | 15 | -100.0 | % | |||||||||||||||||||||||
| Corporate | - | - | 0.0 | % | (19 | ) | (28 | ) | -32.1 | % | - | - | 0.0 | % | (76 | ) | (119 | ) | -36.1 | % | |||||||||||||||||||||
| Total | $ | 1,921 | $ | 1,940 | -1.0 | % | $ | 148 | $ | 119 | 24.4 | % | $ | 8,072 | $ | 7,744 | 4.2 | % | $ | 660 | $ | 438 | 50.7 | % | |||||||||||||||||
| Adjusted Operating Income(2) | Adjusted EBITDA(1)(2) | Adjusted Operating Income(2) | Adjusted EBITDA(1)(2) | ||||||||||||||||||||||||||||||||||||||
| (in millions) | 2024 | 2023 | Change % | 2024 | 2023 | Change % | 2024 | 2023 | Change % | 2024 | 2023 | Change % | |||||||||||||||||||||||||||||
| North American LTL Segment | $ | 159 | $ | 160 | -0.6 | % | $ | 280 | $ | 233 | 20.2 | % | $ | 746 | $ | 589 | 26.7 | % | $ | 1,115 | $ | 864 | 29.1 | % | |||||||||||||||||
| European Transportation Segment | (2 | ) | 5 | NM | 27 | 36 | -25.0 | % | 39 | 48 | -18.8 | % | 158 | 163 | -3.1 | % | |||||||||||||||||||||||||
| Corporate | NA | NA | NA | (4 | ) | (5 | ) | -20.0 | % | NA | NA | NA | (7 | ) | (31 | ) | -77.4 | % | |||||||||||||||||||||||
| Total | $ | NA | $ | NA | NA | $ | 303 | $ | 264 | 14.8 | % | $ | NA | $ | NA | NA | $ | 1,266 | $ | 996 | 27.1 | % | |||||||||||||||||||
| Net Income(1)(3) | Diluted EPS(1)(4) | Net Income(1)(3) | Diluted EPS(1)(4) | ||||||||||||||||||||||||||||||||||||||
| (in millions, except for per-share data) | 2024 | 2023 | Change % | 2024 | 2023 | Change % | 2024 | 2023 | Change % | 2024 | 2023 | Change % | |||||||||||||||||||||||||||||
| Total | $ | 76 | $ | 58 | 31.0 | % | $ | 0.63 | $ | 0.49 | 28.6 | % | $ | 387 | $ | 192 | 101.6 | % | $ | 3.23 | $ | 1.62 | 99.4 | % | |||||||||||||||||
| Diluted Weighted-Average Common Shares Outstanding | Diluted Weighted-Average Common Shares Outstanding | ||||||||||||||||||||||||||||||||||||||||
| Adjusted Diluted EPS(1)(2)(4) | Adjusted Diluted EPS(1)(2)(4) | ||||||||||||||||||||||||||||||||||||||||
| (in millions, except for per-share data) | 2024 | 2023 | 2024 | 2023 | Change % | 2024 | 2023 | 2024 | 2023 | Change % | |||||||||||||||||||||||||||||||
| Total | 120 | 120 | $ | 0.89 | $ | 0.77 | 15.6 | % | 120 | 118 | $ | 3.83 | $ | 2.92 | 31.2 | % | |||||||||||||||||||||||||
| NM - Not meaningful; Amounts may not add due to rounding; NA - Not applicable | |||||||||||||||||||||||||||||||||||||||||
| (1) Includes gains from sales of real estate of | |||||||||||||||||||||||||||||||||||||||||
| (2) See the “Non-GAAP Financial Measures” section of the press release | |||||||||||||||||||||||||||||||||||||||||
| (3) Net income from continuing operations | |||||||||||||||||||||||||||||||||||||||||
| (4) Diluted earnings from continuing operations per share ("diluted EPS") | |||||||||||||||||||||||||||||||||||||||||
Mario Harik, chief executive officer of XPO, said, “We’re pleased to report a strong fourth quarter that caps a year of above-market earnings growth. Companywide, we delivered full-year increases of
“Our North American LTL business outperformed full-year expectations, with adjusted operating income growth of
Harik continued, “We’ve entered 2025 with strong momentum, following landmark network investments that strengthen our competitive position in a freight market recovery and for the long-term. The intense execution you see in our results will continue to deliver years of margin expansion.”
Fourth Quarter Highlights
For the fourth quarter 2024, the company generated revenue of
Operating income was
Adjusted net income from continuing operations, a non-GAAP financial measure, was
Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, was
The company generated
Results by Business Segment
- North American Less-Than-Truckload (LTL): The segment generated revenue of
$1.16 billion for the fourth quarter 2024, compared with$1.19 billion for the same period in 2023. On a year-over-year basis, shipments per day decreased4.4% , tonnage per day decreased5.7% , and yield, excluding fuel, increased6.3% . Including fuel, yield increased1.7% .
Operating income was$179 million for the fourth quarter 2024, compared with$149 million for the same period in 2023. Adjusted operating income, a non-GAAP financial measure, was$159 million for the fourth quarter, compared with$160 million for the same period in 2023. Adjusted operating ratio, a non-GAAP financial measure, was86.2% , reflecting a year-over-year improvement of 30 basis points.
Adjusted EBITDA for the fourth quarter 2024 was$280 million , compared with$233 million for the same period in 2023. The20% year-over-year increase in adjusted EBITDA was due primarily to a gain on sale of real estate, as well as higher yield, excluding fuel, and lower purchased transportation costs, partially offset by lower fuel surcharge revenue and a decrease in tonnage per day.
- European Transportation: The segment generated revenue of
$765 million for the fourth quarter 2024, compared with$753 million for the same period in 2023, primarily driven by pricing growth. Operating income was a loss of$11 million for the fourth quarter 2024, compared with a loss of$2 million for the same period in 2023.
Adjusted EBITDA was$27 million for the fourth quarter 2024, compared with$36 million for the same period in 2023.
- Corporate: The segment generated an operating loss of
$19 million for the fourth quarter 2024, compared with a loss of$28 million for the same period in 2023. The fourth quarter 2023 loss included an$8 million litigation matter.
Adjusted EBITDA was a loss of$4 million for the fourth quarter 2024, compared with a loss of$5 million for the same period in 2023.
Conference Call
The company will hold a conference call on Thursday, February 6, 2025, at 8:30 a.m. Eastern Time. Participants can call toll-free (from US/Canada) 1-877-269-7756; international callers dial +1-201-689-7817. A live webcast of the conference will be available on the investor relations area of the company’s website, xpo.com/investors. The conference will be archived until March 8, 2025. To access the replay by phone, call toll-free (from US/Canada) 1-877-660-6853; international callers dial +1-201-612-7415. Use participant passcode 13750889.
About XPO
XPO, Inc. (NYSE: XPO) is a leader in asset-based less-than-truckload (LTL) freight transportation in North America. The company’s customer-focused organization efficiently moves 18 billion pounds of freight per year, enabled by its proprietary technology. XPO serves approximately 55,000 customers with 614 locations and 38,000 employees in North America and Europe, and is headquartered in Greenwich, Conn., USA. Visit xpo.com for more information, and connect with XPO on LinkedIn, Facebook, X, Instagram and YouTube.
Non-GAAP Financial Measures
As required by the rules of the Securities and Exchange Commission (“SEC”), we provide reconciliations of the non-GAAP financial measures contained in this press release to the most directly comparable measure under GAAP, which are set forth in the financial tables attached to this press release.
XPO’s non-GAAP financial measures in this press release include: adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”) on a consolidated basis and for corporate; adjusted EBITDA margin on a consolidated basis; adjusted EBITDA, excluding gains on real estate transactions on a consolidated basis and for our North American Less-Than-Truckload segment; adjusted net income from continuing operations; adjusted diluted earnings from continuing operations per share (“adjusted diluted EPS”); adjusted operating income for our North American Less-Than-Truckload and European Transportation segments; and adjusted operating ratio for our North American Less-Than-Truckload segment.
We believe that the above adjusted financial measures facilitate analysis of our ongoing business operations because they exclude items that may not be reflective of, or are unrelated to, XPO and its business segments’ core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should only be used as supplemental measures of our operating performance.
Adjusted EBITDA, adjusted EBITDA margin, adjusted EBITDA, excluding gains on real estate transactions, adjusted net income from continuing operations, adjusted diluted EPS, adjusted operating income and adjusted operating ratio include adjustments for transaction and integration costs, as well as restructuring costs and other adjustments as set forth in the attached tables. Transaction and integration adjustments are generally incremental costs that result from an actual or planned acquisition, divestiture or spin-off and may include transaction costs, consulting fees, stock-based compensation, retention awards, internal salaries and wages (to the extent the individuals are assigned full-time to integration and transformation activities) and certain costs related to integrating and converging IT systems. Restructuring costs primarily relate to severance costs associated with business optimization initiatives. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating XPO’s and each business segment’s ongoing performance.
We believe that adjusted EBITDA and adjusted EBITDA margin and adjusted EBITDA, excluding gains on real estate transactions, improve comparability from period to period by removing the impact of our capital structure (interest and financing expenses), asset base (depreciation and amortization), tax impacts and other adjustments as set out in the attached tables that management has determined are not reflective of core operating activities and thereby assist investors with assessing trends in our underlying businesses. We believe that adjusted net income from continuing operations and adjusted diluted EPS improve the comparability of our operating results from period to period by removing the impact of certain costs and gains that management has determined are not reflective of our core operating activities, including amortization of acquisition-related intangible assets, transaction and integration costs, restructuring costs and other adjustments as set out in the attached tables. We believe that adjusted operating income and adjusted operating ratio improve the comparability of our operating results from period to period by removing the impact of certain transaction and integration costs and restructuring costs, as well as amortization expenses as set out in the attached tables.
Forward-looking Statements
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terms. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.
These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include the risks discussed in our filings with the SEC, and the following: the effects of business, economic, political, legal, and regulatory impacts or conflicts upon our operations; supply chain disruptions and shortages, strains on production or extraction of raw materials, cost inflation and labor and equipment shortages; our ability to align our investments in capital assets, including equipment, service centers, and warehouses to our customers’ demands; our ability to implement our cost and revenue initiatives; the effectiveness of our action plan, and other management actions, to improve our North American LTL business; our ability to continue insourcing linehaul in ways that enhance our network efficiency and service; the anticipated impact of a freight market recovery on our business; our ability to benefit from a sale, spin-off or other divestiture of one or more business units or to successfully integrate and realize anticipated synergies, cost savings and profit opportunities from acquired companies; goodwill impairment; issues related to compliance with data protection laws, competition laws, and intellectual property laws; fluctuations in currency exchange rates, fuel prices and fuel surcharges; the expected benefits of the spin-offs of GXO Logistics, Inc. and RXO, Inc.; our ability to develop and implement suitable information technology systems; the impact of potential cyber-attacks and information technology or data security breaches or failures; our indebtedness; our ability to raise debt and equity capital; fluctuations in interest rates; seasonal fluctuations; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain management talent and key employees including qualified drivers; labor matters; litigation; and competition and pricing pressures.
All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements except to the extent required by law.
Investor Contact
Brian Scasserra
+1 617-607-6429
brian.scasserra@xpo.com
Media Contact
Cole Horton
+1 203-609-6004
cole.horton@xpo.com
| XPO, Inc. | |||||||||||||||||||||
| Consolidated Statements of Income | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| (In millions, except per share data) | |||||||||||||||||||||
| Three Months Ended | Years Ended | ||||||||||||||||||||
| December 31, | December 31, | ||||||||||||||||||||
| 2024 | 2023 | Change % | 2024 | 2023 | Change % | ||||||||||||||||
| Revenue | $ | 1,921 | $ | 1,940 | -1.0 | % | $ | 8,072 | $ | 7,744 | 4.2 | % | |||||||||
| Salaries, wages and employee benefits | 837 | 805 | 4.0 | % | 3,377 | 3,159 | 6.9 | % | |||||||||||||
| Purchased transportation | 398 | 422 | -5.7 | % | 1,701 | 1,760 | -3.4 | % | |||||||||||||
| Fuel, operating expenses and supplies | 376 | 400 | -6.0 | % | 1,589 | 1,623 | -2.1 | % | |||||||||||||
| Operating taxes and licenses | 19 | 15 | 26.7 | % | 80 | 60 | 33.3 | % | |||||||||||||
| Insurance and claims | 29 | 38 | -23.7 | % | 134 | 167 | -19.8 | % | |||||||||||||
| Gains on sales of property and equipment | (35 | ) | (1 | ) | NM | (40 | ) | (5 | ) | NM | |||||||||||
| Depreciation and amortization expense | 124 | 114 | 8.8 | % | 490 | 432 | 13.4 | % | |||||||||||||
| Litigation matter(1) | - | 8 | -100.0 | % | - | 8 | -100.0 | % | |||||||||||||
| Transaction and integration costs | 14 | 11 | 27.3 | % | 53 | 58 | -8.6 | % | |||||||||||||
| Restructuring costs | 10 | 9 | 11.1 | % | 27 | 44 | -38.6 | % | |||||||||||||
| Operating income | 148 | 119 | 24.4 | % | 660 | 438 | 50.7 | % | |||||||||||||
| Other income | (6 | ) | (3 | ) | 100.0 | % | (37 | ) | (15 | ) | 146.7 | % | |||||||||
| Debt extinguishment loss | - | 2 | -100.0 | % | - | 25 | -100.0 | % | |||||||||||||
| Interest expense | 53 | 42 | 26.2 | % | 223 | 168 | 32.7 | % | |||||||||||||
| Income from continuing operations before income tax provision | 102 | 78 | 30.8 | % | 473 | 260 | 81.9 | % | |||||||||||||
| Income tax provision | 26 | 20 | 30.0 | % | 86 | 68 | 26.5 | % | |||||||||||||
| Income from continuing operations | 76 | 58 | 31.0 | % | 387 | 192 | 101.6 | % | |||||||||||||
| Loss from discontinued operations, net of taxes | - | - | 0.0 | % | - | - | (3 | ) | -100.0 | % | |||||||||||
| Net income | $ | 76 | $ | 58 | 31.0 | % | $ | 387 | $ | 189 | 104.8 | % | |||||||||
| Net income (loss) | |||||||||||||||||||||
| Continuing operations | $ | 76 | $ | 58 | $ | 387 | $ | 192 | |||||||||||||
| Discontinued operations | - | - | - | (3 | ) | ||||||||||||||||
| Net income | $ | 76 | $ | 58 | $ | 387 | $ | 189 | |||||||||||||
| Basic earnings (loss) per share(2) | |||||||||||||||||||||
| Continuing operations | $ | 0.65 | $ | 0.50 | $ | 3.33 | $ | 1.66 | |||||||||||||
| Discontinued operations | - | - | - | (0.02 | ) | ||||||||||||||||
| Basic earnings per share | $ | 0.65 | $ | 0.50 | $ | 3.33 | $ | 1.64 | |||||||||||||
| Diluted earnings (loss) per share(2) | |||||||||||||||||||||
| Continuing operations | $ | 0.63 | $ | 0.49 | $ | 3.23 | $ | 1.62 | |||||||||||||
| Discontinued operations | - | - | - | (0.02 | ) | ||||||||||||||||
| Diluted earnings per share | $ | 0.63 | $ | 0.49 | $ | 3.23 | $ | 1.60 | |||||||||||||
| Weighted-average common shares outstanding | |||||||||||||||||||||
| Basic weighted-average common shares outstanding | 116 | 116 | 116 | 116 | |||||||||||||||||
| Diluted weighted-average common shares outstanding | 120 | 120 | 120 | 118 | |||||||||||||||||
| Amounts may not add due to rounding. | |||||||||||||||||||||
| NM - Not meaningful. | |||||||||||||||||||||
| (1) Relates to California Environmental Matters as described in Note 18 to the Company's Annual Report on Form 10-K for the year ended December 31, 2024. | |||||||||||||||||||||
| (2) The sum of quarterly earnings (loss) per share may not equal year-to-date amounts due to differences in the weighted-average number of shares outstanding during the respective periods. | |||||||||||||||||||||
| XPO, Inc. | |||||||
| Consolidated Balance Sheets | |||||||
| (Unaudited) | |||||||
| (In millions, except per share data) | |||||||
| December 31, | December 31, | ||||||
| 2024 | 2023 | ||||||
| ASSETS | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 246 | $ | 412 | |||
| Accounts receivable, net of allowances of | 977 | 973 | |||||
| Other current assets | 283 | 208 | |||||
| Total current assets | 1,505 | 1,593 | |||||
| Long-term assets | |||||||
| Property and equipment, net of | 3,402 | 3,075 | |||||
| Operating lease assets | 727 | 708 | |||||
| Goodwill | 1,461 | 1,498 | |||||
| Identifiable intangible assets, net of | 361 | 422 | |||||
| Other long-term assets | 254 | 196 | |||||
| Total long-term assets | 6,206 | 5,899 | |||||
| Total assets | $ | 7,712 | $ | 7,492 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 477 | $ | 532 | |||
| Accrued expenses | 708 | 775 | |||||
| Short-term borrowings and current maturities of long-term debt | 62 | 69 | |||||
| Short-term operating lease liabilities | 127 | 121 | |||||
| Other current liabilities | 46 | 93 | |||||
| Total current liabilities | 1,420 | 1,590 | |||||
| Long-term liabilities | |||||||
| Long-term debt | 3,325 | 3,335 | |||||
| Deferred tax liability | 393 | 337 | |||||
| Employee benefit obligations | 85 | 91 | |||||
| Long-term operating lease liabilities | 603 | 588 | |||||
| Other long-term liabilities | 283 | 285 | |||||
| Total long-term liabilities | 4,690 | 4,636 | |||||
| Stockholders’ equity | |||||||
| Common stock, | |||||||
| as of December 31, 2024 and December 31, 2023, respectively | - | - | |||||
| Additional paid-in capital | 1,274 | 1,298 | |||||
| Retained earnings | 572 | 185 | |||||
| Accumulated other comprehensive loss | (246 | ) | (217 | ) | |||
| Total equity | 1,601 | 1,266 | |||||
| Total liabilities and equity | $ | 7,712 | $ | 7,492 | |||
| Amounts may not add due to rounding. | |||||||
| XPO, Inc. | ||||||||
| Consolidated Statements of Cash Flows | ||||||||
| (Unaudited) | ||||||||
| (In millions) | ||||||||
| Years Ended | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Cash flows from operating activities of continuing operations | ||||||||
| Net income | $ | 387 | $ | 189 | ||||
| Loss from discontinued operations, net of taxes | - | (3 | ) | |||||
| Income from continuing operations | 387 | 192 | ||||||
| Adjustments to reconcile income from continuing operations to net cash from operating activities | ||||||||
| Depreciation and amortization | 490 | 432 | ||||||
| Stock compensation expense | 87 | 78 | ||||||
| Accretion of debt | 11 | 11 | ||||||
| Deferred tax expense | 57 | 31 | ||||||
| Gains on sales of property and equipment | (40 | ) | (5 | ) | ||||
| Other | 11 | 54 | ||||||
| Changes in assets and liabilities | ||||||||
| Accounts receivable | (47 | ) | (46 | ) | ||||
| Other assets | (106 | ) | (9 | ) | ||||
| Accounts payable | (8 | ) | (48 | ) | ||||
| Accrued expenses and other liabilities | (33 | ) | 4 | |||||
| Net cash provided by operating activities from continuing operations | 808 | 694 | ||||||
| Cash flows from investing activities of continuing operations | ||||||||
| Payment for purchases of property and equipment | (789 | ) | (1,533 | ) | ||||
| Proceeds from sale of property and equipment | 75 | 29 | ||||||
| Proceeds from settlement of cross currency swaps | - | 2 | ||||||
| Proceeds from sale of investment | 12 | - | ||||||
| Net cash used in investing activities from continuing operations | (702 | ) | (1,502 | ) | ||||
| Cash flows from financing activities of continuing operations | ||||||||
| Proceeds from issuance of debt | - | 2,962 | ||||||
| Repurchase of debt | - | (2,117 | ) | |||||
| Repayment of debt and finance leases | (82 | ) | (71 | ) | ||||
| Payment for debt issuance costs | (4 | ) | (27 | ) | ||||
| Change in bank overdrafts | (9 | ) | 34 | |||||
| Payment for tax withholdings for restricted shares | (129 | ) | (19 | ) | ||||
| Other | (1 | ) | (1 | ) | ||||
| Net cash used in financing activities from continuing operations | (226 | ) | 761 | |||||
| Cash flows from discontinued operations | ||||||||
| Operating activities of discontinued operations | - | (12 | ) | |||||
| Investing activities of discontinued operations | - | 3 | ||||||
| Net cash used in discontinued operations | - | (9 | ) | |||||
| Effect of exchange rates on cash, cash equivalents and restricted cash | - | 5 | ||||||
| Net decrease in cash, cash equivalents and restricted cash | (120 | ) | (51 | ) | ||||
| Cash, cash equivalents and restricted cash, beginning of period | 419 | 470 | ||||||
| Cash, cash equivalents and restricted cash, end of period | $ | 298 | $ | 419 | ||||
| Amounts may not add due to rounding. | ||||||||
| North American Less-Than-Truckload Segment | |||||||||||||||||||||
| Summary Financial Table | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| (In millions) | |||||||||||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||||||||
| 2024 | 2023 | Change % | 2024 | 2023 | Change % | ||||||||||||||||
| Revenue (excluding fuel surcharge revenue) | $ | 985 | $ | 966 | 2.0 | % | $ | 4,115 | $ | 3,814 | 7.9 | % | |||||||||
| Fuel surcharge revenue | 171 | 221 | -22.6 | % | 785 | 857 | -8.4 | % | |||||||||||||
| Revenue | 1,156 | 1,187 | -2.6 | % | 4,899 | 4,671 | 4.9 | % | |||||||||||||
| Salaries, wages and employee benefits | 621 | 602 | 3.2 | % | 2,515 | 2,346 | 7.2 | % | |||||||||||||
| Purchased transportation | 44 | 83 | -47.0 | % | 248 | 366 | -32.2 | % | |||||||||||||
| Fuel, operating expenses and supplies(1) | 218 | 238 | -8.4 | % | 928 | 956 | -2.9 | % | |||||||||||||
| Operating taxes and licenses | 16 | 13 | 23.1 | % | 65 | 48 | 35.4 | % | |||||||||||||
| Insurance and claims | 18 | 21 | -14.3 | % | 80 | 102 | -21.6 | % | |||||||||||||
| (Gains) losses on sales of property and equipment | (34 | ) | 2 | NM | (27 | ) | 8 | NM | |||||||||||||
| Depreciation and amortization | 89 | 77 | 15.6 | % | 346 | 291 | 18.9 | % | |||||||||||||
| Transaction and integration costs | - | - | 0.0 | % | 1 | - | NM | ||||||||||||||
| Restructuring costs | 5 | 2 | 150.0 | % | 7 | 12 | -41.7 | % | |||||||||||||
| Operating income | 179 | 149 | 20.1 | % | 735 | 542 | 35.6 | % | |||||||||||||
| Operating ratio(2) | |||||||||||||||||||||
| Other income | - | 1 | - | 1 | |||||||||||||||||
| Amortization expense | 9 | 8 | 36 | 34 | |||||||||||||||||
| Transaction and integration costs | - | - | 1 | - | |||||||||||||||||
| Restructuring costs | 5 | 2 | 7 | 12 | |||||||||||||||||
| Gains on real estate transactions | (34 | ) | - | (34 | ) | - | |||||||||||||||
| Adjusted operating income(3) | $ | 159 | $ | 160 | -0.6 | % | $ | 746 | $ | 589 | 26.7 | % | |||||||||
| Adjusted operating ratio (3) (4) | |||||||||||||||||||||
| Depreciation expense | 80 | 69 | 310 | 257 | |||||||||||||||||
| Pension income | 6 | 4 | 25 | 17 | |||||||||||||||||
| Gains on real estate transactions | 34 | - | 34 | - | |||||||||||||||||
| Other | - | - | - | 1 | |||||||||||||||||
| Adjusted EBITDA(5) | $ | 280 | $ | 233 | 20.2 | % | $ | 1,115 | $ | 864 | 29.1 | % | |||||||||
| Adjusted EBITDA margin(5) | |||||||||||||||||||||
| Gains on real estate transactions | 34 | - | 34 | - | |||||||||||||||||
| Adjusted EBITDA, excluding gains on real estate transactions(3) | $ | 246 | $ | 233 | 5.6 | % | $ | 1,081 | $ | 864 | 25.1 | % | |||||||||
| Amounts may not add due to rounding. | |||||||||||||||||||||
| NM - Not meaningful. | |||||||||||||||||||||
| (1) Fuel, operating expenses and supplies includes fuel-related taxes. | |||||||||||||||||||||
| (2) Operating ratio is calculated as (1 - (Operating income divided by Revenue)) using the underlying unrounded amounts. | |||||||||||||||||||||
| (3) See the “Non-GAAP Financial Measures” section of the press release. | |||||||||||||||||||||
| (4) Adjusted operating ratio is calculated as (1 - (Adjusted operating income divided by Revenue)) using the underlying unrounded amounts; adjusted operating margin is the inverse of adjusted operating ratio. | |||||||||||||||||||||
| (5) Adjusted EBITDA is used by our chief operating decision maker to evaluate segment profit (loss) in accordance with ASC 280. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue using the underlying unrounded amounts. | |||||||||||||||||||||
| North American Less-Than-Truckload | |||||||||||||||||
| Summary Data Table | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||||
| 2024 | 2023 | Change % | 2024 | 2023 | Change % | ||||||||||||
| Pounds per day (thousands) | 65,433 | 69,357 | -5.7 | % | 69,606 | 70,196 | -0.8 | % | |||||||||
| Shipments per day | 49,109 | 51,382 | -4.4 | % | 51,508 | 51,322 | 0.4 | % | |||||||||
| Average weight per shipment (in pounds) | 1,332 | 1,350 | -1.3 | % | 1,351 | 1,368 | -1.2 | % | |||||||||
| Revenue per shipment (including fuel surcharges) | $ | 382.32 | $ | 378.49 | 1.0 | % | $ | 376.37 | $ | 362.38 | 3.9 | % | |||||
| Revenue per shipment (excluding fuel surcharges) | $ | 325.62 | $ | 307.83 | 5.8 | % | $ | 316.05 | $ | 295.82 | 6.8 | % | |||||
| Gross revenue per hundredweight (including fuel surcharges)(1) | $ | 29.09 | $ | 28.60 | 1.7 | % | $ | 28.40 | $ | 27.07 | 4.9 | % | |||||
| Gross revenue per hundredweight (excluding fuel surcharges)(1) | $ | 24.84 | $ | 23.37 | 6.3 | % | $ | 23.94 | $ | 22.21 | 7.8 | % | |||||
| Average length of haul (in miles) | 854.7 | 852.6 | 851.5 | 842.6 | |||||||||||||
| Total average load factor(2) | 22,128 | 22,564 | -1.9 | % | 22,642 | 22,789 | -0.6 | % | |||||||||
| Average age of tractor fleet (years) | 4.1 | 5.0 | |||||||||||||||
| Number of working days | 61.5 | 61.0 | 252.5 | 251.0 | |||||||||||||
| (1)Gross revenue per hundredweight excludes the adjustment required for financial statement purposes in accordance with the company's revenue recognition policy. | |||||||||||||||||
| (2)Total average load factor equals freight pound miles divided by total linehaul miles. | |||||||||||||||||
| Note: Table excludes the company's trailer manufacturing operations. Percentages presented are calculated using the underlying unrounded amounts. | |||||||||||||||||
| European Transportation Segment | |||||||||||||||||||||
| Summary Financial Table | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| (In millions) | |||||||||||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||||||||
| 2024 | 2023 | Change % | 2024 | 2023 | Change % | ||||||||||||||||
| Revenue | $ | 765 | $ | 753 | 1.6 | % | $ | 3,173 | $ | 3,073 | 3.3 | % | |||||||||
| Salaries, wages and employee benefits | 212 | 200 | 6.0 | % | 846 | 795 | 6.4 | % | |||||||||||||
| Purchased transportation | 354 | 339 | 4.4 | % | 1,454 | 1,394 | 4.3 | % | |||||||||||||
| Fuel, operating expenses and supplies(1) | 158 | 162 | -2.5 | % | 661 | 661 | 0.0 | % | |||||||||||||
| Operating taxes and licenses | 4 | 2 | 100.0 | % | 15 | 12 | 25.0 | % | |||||||||||||
| Insurance and claims | 12 | 16 | -25.0 | % | 51 | 59 | -13.6 | % | |||||||||||||
| Gains on sales of property and equipment | (2 | ) | (3 | ) | -33.3 | % | (14 | ) | (13 | ) | 7.7 | % | |||||||||
| Depreciation and amortization | 34 | 36 | -5.6 | % | 140 | 136 | 2.9 | % | |||||||||||||
| Transaction and integration costs | - | - | 0.0 | % | 2 | 2 | 0.0 | % | |||||||||||||
| Restructuring costs | 4 | 3 | 33.3 | % | 17 | 12 | 41.7 | % | |||||||||||||
| Operating income (loss) | $ | (11 | ) | $ | (2 | ) | 450.0 | % | $ | - | $ | 15 | -100.0 | % | |||||||
| Other expense | - | (1 | ) | (1 | ) | (2 | ) | ||||||||||||||
| Amortization expense | 5 | 5 | 21 | 21 | |||||||||||||||||
| Transaction and integration costs | - | - | 2 | 2 | |||||||||||||||||
| Restructuring costs | 4 | 3 | 17 | 12 | |||||||||||||||||
| Adjusted operating income (loss)(2) | $ | (2 | ) | $ | 5 | NM | $ | 39 | $ | 48 | -18.8 | % | |||||||||
| Depreciation expense | 29 | 31 | 119 | 115 | |||||||||||||||||
| Pension expense | - | - | (1 | ) | - | ||||||||||||||||
| Adjusted EBITDA(3) | $ | 27 | $ | 36 | -25.0 | % | $ | 158 | $ | 163 | -3.1 | % | |||||||||
| Adjusted EBITDA margin(3) | |||||||||||||||||||||
| Amounts may not add due to rounding. | |||||||||||||||||||||
| NM - Not meaningful. | |||||||||||||||||||||
| (1) Fuel, operating expenses and supplies includes fuel-related taxes. | |||||||||||||||||||||
| (2) See the “Non-GAAP Financial Measures” section of the press release. | |||||||||||||||||||||
| (3) Adjusted EBITDA is used by our chief operating decision maker to evaluate segment profit (loss) in accordance with ASC 280. Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue using the underlying unrounded amounts. | |||||||||||||||||||||
| Corporate | |||||||||||||||||||||
| Summary Financial Table | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| (In millions) | |||||||||||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||||||||
| 2024 | 2023 | Change % | 2024 | 2023 | Change % | ||||||||||||||||
| Revenue | $ | - | $ | - | 0.0 | % | $ | - | $ | - | 0.0 | % | |||||||||
| Salaries, wages and employee benefits | 3 | 3 | 0.0 | % | 16 | 18 | -11.1 | % | |||||||||||||
| Fuel, operating expenses and supplies | - | - | 0.0 | % | - | 6 | -100.0 | % | |||||||||||||
| Operating taxes and licenses | - | - | 0.0 | % | - | - | 0.0 | % | |||||||||||||
| Insurance and claims | - | 1 | -100.0 | % | 3 | 6 | -50.0 | % | |||||||||||||
| Depreciation and amortization | 1 | 1 | 0.0 | % | 4 | 5 | -20.0 | % | |||||||||||||
| Litigation matter (1) | - | 8 | -100.0 | % | - | 8 | -100.0 | % | |||||||||||||
| Transaction and integration costs | 14 | 11 | 27.3 | % | 50 | 56 | -10.7 | % | |||||||||||||
| Restructuring costs | 1 | 4 | -75.0 | % | 3 | 20 | -85.0 | % | |||||||||||||
| Operating loss | $ | (19 | ) | $ | (28 | ) | -32.1 | % | $ | (76 | ) | $ | (119 | ) | -36.1 | % | |||||
| Other income (expense) (2) | - | (1 | ) | 12 | (1 | ) | |||||||||||||||
| Depreciation and amortization | 1 | 1 | 4 | 5 | |||||||||||||||||
| Litigation matter (1) | - | 8 | - | 8 | |||||||||||||||||
| Transaction and integration costs | 14 | 11 | 50 | 56 | |||||||||||||||||
| Restructuring costs | 1 | 4 | 3 | 20 | |||||||||||||||||
| Adjusted EBITDA (3) | $ | (4 | ) | $ | (5 | ) | -20.0 | % | $ | (7 | ) | $ | (31 | ) | -77.4 | % | |||||
| Amounts may not add due to rounding. | |||||||||||||||||||||
| (1) Relates to California Environmental Matters as described in Note 18 to the Company's Annual Report on Form 10-K for the year ended December 31, 2024. | |||||||||||||||||||||
| (2) Other income (expense) consists of foreign currency gain (loss) and other income (expense), which is primarily comprised of investment income in 2024. | |||||||||||||||||||||
| (3) See the “Non-GAAP Financial Measures” section of the press release. | |||||||||||||||||||||
| XPO, Inc. | |||||||||||||||||||||
| Reconciliation of Non-GAAP Measures | |||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||
| (In millions) | |||||||||||||||||||||
| Three Months Ended December 31, | Years Ended December 31, | ||||||||||||||||||||
| 2024 | 2023 | Change % | 2024 | 2023 | Change % | ||||||||||||||||
| Reconciliation of Net Income from Continuing Operations to Adjusted EBITDA | |||||||||||||||||||||
| Net income from continuing operations | $ | 76 | $ | 58 | 31.0 | % | $ | 387 | $ | 192 | 101.6 | % | |||||||||
| Debt extinguishment loss | - | 2 | - | 25 | |||||||||||||||||
| Interest expense | 53 | 42 | 223 | 168 | |||||||||||||||||
| Income tax provision | 26 | 20 | 86 | 68 | |||||||||||||||||
| Depreciation and amortization expense | 124 | 114 | 490 | 432 | |||||||||||||||||
| Litigation matter(1) | - | 8 | - | 8 | |||||||||||||||||
| Transaction and integration costs | 14 | 11 | 53 | 58 | |||||||||||||||||
| Restructuring costs | 10 | 9 | 27 | 44 | |||||||||||||||||
| Other | - | - | - | 1 | |||||||||||||||||
| Adjusted EBITDA(2) | $ | 303 | $ | 264 | 14.8 | % | $ | 1,266 | $ | 996 | 27.1 | % | |||||||||
| Revenue | $ | 1,921 | $ | 1,940 | -1.0 | % | $ | 8,072 | $ | 7,744 | 4.2 | % | |||||||||
| Adjusted EBITDA margin(2) (3) | |||||||||||||||||||||
| Gains on real estate transactions | 34 | - | 34 | - | |||||||||||||||||
| Adjusted EBITDA, excluding gains on real estate transactions(2) | $ | 269 | $ | 264 | 1.9 | % | $ | 1,232 | $ | 996 | 23.7 | % | |||||||||
| Amounts may not add due to rounding. | |||||||||||||||||||||
| (1) Relates to California Environmental Matters as described in Note 18 to the Company's Annual Report on Form 10-K for the year ended December 31, 2024. | |||||||||||||||||||||
| (2) See the “Non-GAAP Financial Measures” section of the press release. | |||||||||||||||||||||
| (3) Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue using the underlying unrounded amounts. | |||||||||||||||||||||
| XPO, Inc. | ||||||||||||||||
| Reconciliation of Non-GAAP Measures (cont.) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| (In millions, except per share data) | ||||||||||||||||
| Three Months Ended | Years Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Reconciliation of Net Income from Continuing Operations and Diluted Earnings Per Share from Continuing Operations to Adjusted Net Income from Continuing Operations and Adjusted Earnings Per Share from Continuing Operations | ||||||||||||||||
| Net income from continuing operations(1) | $ | 76 | $ | 58 | $ | 387 | $ | 192 | ||||||||
| Debt extinguishment loss | - | 2 | - | 25 | ||||||||||||
| Amortization of acquisition-related intangible assets | 14 | 13 | 57 | 55 | ||||||||||||
| Litigation matter(2) | - | 8 | - | 8 | ||||||||||||
| Transaction and integration costs | 14 | 11 | 53 | 58 | ||||||||||||
| Restructuring costs | 10 | 9 | 27 | 44 | ||||||||||||
| Income tax associated with the adjustments above(3) | (6 | ) | (8 | ) | (24 | ) | (36 | ) | ||||||||
| European legal entity reorganization(4) | (1 | ) | - | (41 | ) | - | ||||||||||
| Adjusted net income from continuing operations(1)(5) | $ | 107 | $ | 93 | $ | 460 | $ | 346 | ||||||||
| Adjusted diluted earnings from continuing operations per share(1)(5) | $ | 0.89 | $ | 0.77 | $ | 3.83 | $ | 2.92 | ||||||||
| Weighted-average common shares outstanding | ||||||||||||||||
| Diluted weighted-average common shares outstanding | 120 | 120 | 120 | 118 | ||||||||||||
| Amounts may not add due to rounding. | ||||||||||||||||
| (1) Includes gains from sales of real estate of | ||||||||||||||||
| (2) Relates to California Environmental Matters as described in Note 18 to the Company's Annual Report on Form 10-K for the year ended December 31, 2024. | ||||||||||||||||
| (3) This line item reflects the aggregate tax benefit of all non-tax related adjustments reflected in the table above. The detail by line item is as follows: | ||||||||||||||||
| Debt extinguishment loss | $ | - | $ | - | $ | - | $ | 5 | ||||||||
| Amortization of acquisition-related intangible assets | 3 | 3 | 13 | 13 | ||||||||||||
| Litigation matter | - | 2 | - | 2 | ||||||||||||
| Transaction and integration costs | 1 | 1 | 5 | 6 | ||||||||||||
| Restructuring costs | 2 | 2 | 6 | 10 | ||||||||||||
| $ | 6 | $ | 8 | $ | 24 | $ | 36 | |||||||||
| Amounts may not add due to rounding. | ||||||||||||||||
| The income tax rate applied to reconciling items is based on the GAAP annual effective tax rate, excluding discrete items, non-deductible compensation, and contribution- and margin-based taxes. | ||||||||||||||||
| (4) Reflects a tax benefit recognized in the second quarter of 2024 and the subsequent adjustments recognized during the second half of 2024 related to a legal entity reorganization within our European Transportation business. | ||||||||||||||||
| (5) See the "Non-GAAP Financial Measures" section of the press release. | ||||||||||||||||
FAQ
What was XPO's Q4 2024 earnings per share?
How much revenue did XPO generate in Q4 2024?
What was XPO's North American LTL segment performance in Q4 2024?
How did XPO's European Transportation segment perform in Q4 2024?
What was XPO's cash position at the end of Q4 2024?
