XPO, Inc. (NYSE:XPO) Q3 2023 Earnings Conference Call October 30, 2023 8:30 AM ET
Company Participants
Mario Harik - Chief Executive Officer
Kyle Wismans - Chief Financial Officer
Ali Faghri - Chief Strategy Officer
Conference Call Participants
Christian Wetherbee - Citigroup
Scott Group - Wolfe Research
Kenneth Hoexter - Bank of America
Fadi Chamoun - BMO Capital Markets
Thomas Wadewitz - UBS
Ravi Shanker - Morgan Stanley
Jason Seidl - TD Cowen
Brian Ossenbeck - JPMorgan
Stephanie Moore - Jefferies
Scott Schneeberger - Oppenheimer
Operator
Welcome to the XPO Third Quarter 2023 Earnings Conference Call and Webcast. My name is Rob and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] Please note that this conference is being recorded.
Before the call begins, let me read a brief statement on behalf of the company regarding forward-looking statements and the use of non-GAAP financial measures. During this call, the company will be making certain forward-looking statements within the meaning of applicable securities laws, which by their nature involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those projected in the forward-looking statements.
A discussion of factors that could cause actual results to differ materially is contained in the company's SEC filings as well as in its earnings release. The forward-looking statements in the company's earnings release or made on this call are made only as of today, and the company has no obligation to update any of these forward-looking statements, except to the extent required by law.
During this call, the company also may refer to certain non-GAAP financial measures, as defined under applicable SEC rules. Reconciliations of such non GAAP financial measures to the most comparable GAAP measures are contained in the company's earnings release and the related financial tables or on its website.
You can find a copy of the company's earnings release, which contains additional important information regarding forward-looking statements and non-GAAP financial measures in the Investors section on the company's website.
I will now turn the call over to XPO's Chief Executive Officer, Mario Harik. Mr. Harik, you may begin.
Mario Harik
Good morning, everyone. Thanks for joining our call. I'm here in Greenwich with Kyle Wismans, our Chief Financial Officer, and Ali Faghri, our Chief Strategy Officer.
This morning we reported financial results that were well above expectations for growth and profitability despite a soft market for freight transportation. It was a strong third quarter for us company-wide. We grew revenue year-over-year to $2 billion and improved our adjusted EBITDA to $278 million, an increase of 6% year-over-year.