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XPO beats FedEx Freight and Old Dominion on Q3 shipment growth
XPO grew shipments almost 6% while Old Dominion and FedEx Freight shipped less, though its headline price growth slowed to 3.6%.
In its third-quarter update, XPO said shipments grew almost 6%. Old Dominion and FedEx Freight shipped less over the same period. XPO's margins held up far better than the season usually allows.
Headline price growth slowed to 3.6%. Management attributed this to heavier, shorter-haul freight spilling over from a squeezed truckload market. The company said October pricing was already up 5%.
Banks agree on the momentum but are split on the stock outlook.
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