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In some ways, the Thursday morning call between transport and logistics giant
XPO Logistics Inc. (NYSE: XPO) and the analysts who cover it was a preview of coming attractions.
Coming off a strong fourth quarter, which included an all-time quarterly revenue record and an earnings-per-share beat of 52 cents, company executives waxed bullish on both the first quarter and the rest of the year. With COVID-19 cases and the corresponding concerns expected to wane through the year, and with macro factors blowing strongly outward, executives were as upbeat about the future as they've been in some time. That confidence was underscored by a forecast that 2021 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) would rise between 24% and 29% over 2020 levels, and that free cash flow would come in between $600 million and $700 million, up from $554 million in 2020.