XPO, Inc. (NYSE:XPO) Q4 2023 Earnings Conference Call February 7, 2024 8:30 AM ET
Company Participants
Mario Harik - Chief Executive Officer
Kyle Wismans - Chief Financial Officer
Ali Faghri - Chief Strategy Officer
Conference Call Participants
Scott Group - Wolfe Research
Ken Hoexter - Bank of America
Jon Chappell - Evercore ISI
Chris Wetherbee - Citigroup
Fadi Chamoun - BMO Capital Markets
Stephanie Moore - Jefferies
Tom Wadewitz - UBS
Bruce Chan - Stifel
Jason Seidl - TD Cowen
Bascome Majors - Susquehanna
Jordan Alliger - Goldman Sachs
Brandon Oglenski - Barclays
James Monigan - Wells Fargo
Brian Ossenbeck - JPMorgan
Operator
Welcome to the XPO Q4 2023 Earnings Conference Call and Webcast. My name is Sherry, 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 may also 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 of 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. I'm pleased to report that we kept a strong year for the quarter that exceeded expectations, and we've carried that momentum into 2024. Company-wide, we reported fourth quarter revenue of $1.9 billion, which is 6% higher year-over-year. And we grew adjusted EBITDA to $264 million for an increase of 28%, excluding real estate gains in 2022. Our adjusted diluted EPS for the company was $0.77, which was also better than expected. I want to thank our team for delivering these great results in a soft freight environment.