XPO Q3 Hits The Mark: North American LTL Segment Fuels Growth, EBITDA Up 20%

XPO, Inc. (NYSE:XPO) shares are trading higher after it reported third-quarter results.

Revenue growth of 3.7% year-over-year to $2.05 billion, beating the consensus of $2.020 billion.

The revenue growth was aided by higher yield in the North American LTL segment and volume increase in the European Transportation segment.

Operating income was $176 million, compared to $154 million a year ago.

Adjusted EBITDA increased 19.8% to $333 million in the quarter, and the margin expanded to 16.2% from 14.0% last year in the same quarter.

North American Less-Than-Truckload revenue was $1.25 billion (+1.9% Y/Y). The adjusted operating ratio was 84.2%, up 200 bps year over year. 

The segment saw a 3.2% increase in shipments per ...