XPO, Inc. Earnings Per Share Disclosure
| Years Ended December 31, | |||||||||||||||||||||||
| (In millions, except per share data) | 2025 | 2024 | 2023 | ||||||||||||||||||||
| Net income from continuing operations | $ | 316 | $ | 387 | $ | 192 | |||||||||||||||||
| Net loss from discontinued operations | — | — | (3) | ||||||||||||||||||||
| Net income | $ | 316 | $ | 387 | $ | 189 | |||||||||||||||||
| Basic weighted-average common shares | 118 | 116 | 116 | ||||||||||||||||||||
| Dilutive effect of stock-based awards | 2 | 4 | 2 | ||||||||||||||||||||
| Diluted weighted-average common shares | 119 | 120 | 118 | ||||||||||||||||||||
| Basic earnings from continuing operations per share | $ | 2.69 | $ | 3.33 | $ | 1.66 | |||||||||||||||||
| Basic loss from discontinued operations per share | — | — | (0.02) | ||||||||||||||||||||
| Basic earnings per share | $ | 2.69 | $ | 3.33 | $ | 1.64 | |||||||||||||||||
| Diluted earnings from continuing operations per share | $ | 2.64 | $ | 3.23 | $ | 1.62 | |||||||||||||||||
| Diluted loss from discontinued operations per share | — | — | (0.02) | ||||||||||||||||||||
| Diluted earnings per share | $ | 2.64 | $ | 3.23 | $ | 1.60 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 5, 2026 | Showing above |
| 2024 | Feb 7, 2025 | |
| 2021 | Feb 16, 2022 | |
| 2020 | Feb 12, 2021 | |
| 2019 | Feb 10, 2020 | |
| 2018 | Feb 14, 2019 | |
| 2015 | Feb 29, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.