SA: XPO Logistics lifts guidance for the full year as truck brokerage business roars

SEEKING ALPHA reports:

– XPO Logistics (NYSE:XPO) sails past consensus estimates on revenue growth of 23.6% in Q1.

– CEO summary: “In the first quarter, we reported the highest revenue of any quarter in our history, appreciably outpacing a macro that’s recovering faster than expected. Our net income and adjusted EBITDA were both first quarter records, and we grew adjusted EPS by 112% year-over-year. Our truck brokerage business is continuing to outperform the market, powered by the growth of our XPO Connect digital platform. We increased our first quarter brokerage revenue by 83% year-over-year, and grew net revenue by 132%.”

– Looking ahead, XPO sees EPS of $5.90 to $6.50 for FY21 vs. a prior forecast for $5.10 to $5.85 and $5.44 consensus…

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Now read this: “XPO Logistics Announces First Quarter 2021 Results“. Key highlights:

– Reports highest revenue of any quarter in XPO’s history

– Generates record first quarter net income and adjusted EBITDA

– Significantly raises full year 2021 adjusted EBITDA guidance range to $1.825 billion to $1.875 billion

The conference call will take place at 8:30 AM EDT.