XPO Logistics (NYSE:XPO) beat the stock market on Thursday by beating analyst estimates for its most recently completed quarter. In an unorthodox and unexpected midday earnings release -- the delivery of which was scheduled to occur after market close -- the company unveiled its third quarter of fiscal 2020 results.

These were impressive. On the top line, XPO booked $4.22 billion in revenue, and while this represented year-over-year growth of only 1.7%, it was well higher than the average analyst estimate of $3.85 billion. And while the non-GAAP (adjusted) net profit tumbled by almost 29% to $86 million, at $0.84 per share it was more than double the collective prognosticator projection of $0.40.

Two XPO Logistics drivers with a company truck in the background.

Image source: XPO Logistics.

In the earnings release, the company said that the far better-than-expected performance "was broad-based, spanning our service offerings and geographies." XPO made particular mention of supply chain outsourcing and its services in the e-commerce segment, the rise of which has been inflamed by the stay-at-home measures encouraged and (occasionally) mandated in the fight against the coronavirus.

Of its two main segments, transportation and logistics, it was the latter that moved the growth needle. It was responsible for $1.58 billion in revenue for the quarter, up from the year-ago tally of $1.51 billion. As for transportation, its take of $2.68 billion was essentially unchanged from the Q3 2019 result.

As with many companies reporting their quarterly figures over the past few months, XPO did not proffer any guidance. It did not provide a reason for this, although it's likely that the unpredictability of the outbreak is probably at least one factor.

XPO's stock closed 4.2% higher on Thursday, well eclipsing the almost 2% gain of the S&P 500 index.

 
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