Overview

• Earnings per share came in at $1.76 versus $1.47 expected, with revenue of $3.05 billion topping the $3.02 billion consensus.
• Shares jumped about 19% intraday to $165.49 after the release as several firms boosted price targets.
• Operating income rose 8% year over year to $242.7 million, and net earnings increased to $170.8 million from $152.1 million.
• Intermodal revenue fell 2% but operating income rose 12% on efficiency gains, Final Mile revenue declined 5% with operating income down 42%, Dedicated grew revenue 2% with operating income up 9%, Truckload revenue rose 10% with operating income down 9%, and Integrated Capacity Solutions revenue slipped 1%.
• The company repurchased roughly 1.6 million shares for about $230 million in the quarter and reported approximately $107 million remaining under its buyback authorization.