5 Stocks in Focus After Releasing Their Financial Results

1. XPO Logistics, Inc. (NYSE:XPO)

Number of Hedge Fund Holders: 53

Shares of XPO Logistics, Inc. (NYSE:XPO) turned green in the pre-market trading session on Tuesday, May 10, 2022, after its first-quarter profit and sales showed a substantial improvement on a year-over-year basis.

XPO Logistics, Inc. (NYSE:XPO) reported adjusted earnings of $1.25 per share, up from 79 cents per share in the comparable period of 2021. Revenue increased to $3.47 billion, from $2.99 billion in the year-ago quarter. Analysts were looking for earnings of 93 cents per share on revenue of $3.22 billion.

XPO Logistics, Inc. (NYSE:XPO) also raised its profit outlook for the full year. The freight transportation company now expects adjusted earnings in the range of $5.20 – $5.60 per share for fiscal 2022.

Speaking on the results, CEO Brad Jacobs said in a statement:

“Our best-in-class truck brokerage business gained share again in the quarter, with year-over-year load growth of 23%. Shippers increasingly want cutting-edge brokerage automation, and our XPO Connect platform gives them access to more than one and a half million carrier trucks. We’re creating or covering 74% of our brokerage loads digitally on the platform, up four percentage points from the fourth quarter.”

You can also take a peek at 10 Stocks To Buy Now According To Stamos Capital and 10 Favorite Stocks of Dan Loeb’s Third Point.

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