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XPO, Inc. (NYSE: XPO) is a leading provider of asset-based less-than-truckload (LTL) freight transportation in North America. Headquartered in Greenwich, Connecticut, XPO efficiently moves goods across its network using proprietary technology. The company serves approximately 52,000 customers with a vast network of 610 locations and 39,000 employees across North America and Europe.
XPO is rapidly evolving, particularly following the spinoff of its contract logistics division, GXO, in 2021, and its freight brokerage operations, RXO, in 2022. Today, XPO is focused on becoming a pure-play asset-based LTL carrier, with LTL shipping making up around 60% of total revenue. The company also has significant involvement in European trucking, which they plan to divest when the right opportunity arises.
Recent achievements include strong financial performance in a challenging market, highlighted by a 6% year-over-year revenue growth and a 37% increase in adjusted EBITDA for Q1 2024. XPO's LTL segment outperformed with a 50% increase in adjusted operating income and a 390-basis-point improvement in adjusted operating ratio. Notably, the company continues to achieve record-low damage claims ratios, reflecting their commitment to quality service.
XPO has been proactive in expanding its footprint, opening multiple new freight transportation centers, such as in Las Vegas and Sherman, Texas. These expansions are geared towards enhancing service quality, increasing capacity, and providing specialized services such as trade show shipping.
In addition to its operational success, XPO is dedicated to corporate responsibility. The company recently extended its partnership with Truckers Against Trafficking, training nearly 5,000 drivers to combat human trafficking. This initiative underscores XPO's commitment to safety and community welfare.
With a strong foundation, innovative technology, and a customer-focused approach, XPO continues to solidify its position as a leader in the LTL transportation sector.
XPO has been named a '2024 Top Company for Women to Work in Transportation' by the Women in Trucking Association for the fourth consecutive year, also securing a spot on WIT's 'Elite 30' list. The company demonstrates its commitment to gender diversity through various initiatives, including competitive compensation, development programs, and a comprehensive pregnancy care policy with paid prenatal leave. XPO celebrates two notable leaders: Tena Fisher, senior service center manager with 26 years of industry experience, and Nicole Neumann, vice president of human resources, both named to WIT's '2024 Top Women to Watch in Transportation' list.
XPO has been named a 2025 Military Friendly® Employer by Viqtory, earning this recognition for the second consecutive year. The company received the Military Friendly® Gold ranking, placing it in the top 10% of employers in its category.
This designation acknowledges XPO's comprehensive efforts to recruit veteran and military talent while creating a supportive environment for those transitioning to civilian careers. The company maintains veteran training programs and partnerships, including with the U.S. Army Partnership for Your Success (PaYS) program, to facilitate military-to-civilian career transitions.
XPO reported strong Q3 2024 financial results with revenue increasing 3.7% to $2.05 billion. Diluted earnings per share rose to $0.79 from $0.72, while adjusted diluted EPS grew to $1.02 from $0.88 year-over-year. The North American Less-Than-Truckload segment showed significant improvement with a 16.8% increase in operating income to $188 million and achieved an adjusted operating ratio of 84.2%. The company's adjusted EBITDA increased by 19.8% to $333 million, driven by higher yield and improved cost management. Cash flow from operations was $264 million, with $378 million in cash and cash equivalents at quarter-end.
XPO (NYSE: XPO) has been recognized as one of America's Most Reliable Companies for 2025 by Newsweek magazine, ranking among the top transportation companies in the inaugural list. The recognition stems from an independent survey of over 1,700 decision-makers who evaluated 1,500 companies across various industries, with only 300 making the final list.
The distinction acknowledges U.S.-based companies demonstrating exceptional consistency in service and dependability in the B2B sector. CEO Mario Harik emphasized the company's dedication to delivering world-class service and expressed gratitude for customer trust in handling their freight operations.
XPO (NYSE: XPO) has announced its upcoming third quarter 2024 earnings conference call and webcast, scheduled for Wednesday, October 30, 2024, at 8:30 a.m. Eastern Time. The company will release its financial results earlier that morning, which will be available on their website at www.xpo.com.
Interested parties can access the call through various methods:
- Toll-free from US/Canada: 1-877-269-7756
- International callers: +1-201-689-7817
- Live webcast: www.xpo.com/investors
A replay of the conference call will be accessible until November 29, 2024, by calling toll-free (from US/Canada) 1-877-660-6853 or +1-201-612-7415 for international callers, using the passcode 13749187. The call will also be archived on XPO's investor relations website.
XPO, a leading North American freight transportation provider, has been named to the 2025 FreightTech 100 list by FreightWaves for the seventh consecutive year. XPO is the only LTL transportation provider on this year's list, which recognizes the most innovative companies in the freight transportation industry.
Jay Silberkleit, XPO's chief information officer, highlighted the company's proprietary technology and advanced artificial intelligence as key factors in delivering world-class service. XPO's cloud-enabled tech stack ensures efficient and cost-effective shipment movement while providing customers with real-time visibility down to the pallet level.
The FreightTech 100 list is determined by a panel of experts chosen by FreightWaves, narrowed down from nearly 900 nominations.
XPO, a leading North American freight transportation provider, has released preliminary LTL segment operating metrics for August 2024. The company reported a 4.6% decrease in LTL tonnage per day compared to August 2023, attributed to a 4.5% decrease in shipments per day and a 0.1% decrease in weight per shipment.
Despite the soft demand environment, CEO Mario Harik expressed confidence in the company's outlook for margin expansion. He highlighted effective variable cost management, a constructive industry pricing backdrop, and company-specific initiatives driving above-market yield growth. Harik also emphasized ongoing service improvements and network investments that are expected to accelerate results when industry demand rebounds.
XPO (NYSE: XPO), a leading LTL freight transportation provider in North America, celebrated outstanding achievements at the 2024 National Truck Driving Championships (NTDC) in Indianapolis. Three XPO drivers earned top awards:
1. Brandon Hardy (Las Vegas): First place in five-axle class, 10th NTDC appearance
2. Joe Hicks (Cranston): First place in four-axle class, 10th NTDC appearance
3. Rich Sweeney (Chicopee): Neill Darmstadter Professional Excellence Award, 15th NTDC appearance
Additionally, Ina Daly (Phoenix) was named a finalist in the flatbed class. In total, 22 XPO drivers from 16 states competed, showcasing XPO's commitment to safety and professional excellence in the trucking industry.
XPO reported strong Q2 2024 results with revenue up 8.5% to $2.08 billion and diluted EPS from continuing operations at $1.25, up from $0.27 in Q2 2023. The company's adjusted EBITDA increased 40.6% to $343 million. North American Less-Than-Truckload (LTL) segment saw significant growth, with revenue up 12% to $1.27 billion and adjusted operating income up 50.7% to $214 million. The segment's adjusted operating ratio improved by 440 basis points to 83.2%. European Transportation segment revenue increased 3.5% to $808 million. XPO's strong performance was driven by improved service levels, yield growth, and increased efficiency in operations.
XPO (NYSE: XPO), a leading freight transportation provider in North America, has announced its team of 22 finalists for the 2024 National Truck Driving Championships (NTDC) in Indianapolis from August 21-24. The NTDC, known as the 'Super Bowl of Safety,' is hosted by the American Trucking Associations and tests drivers' precision skills and industry knowledge. XPO's finalists come from 16 states, each qualifying by winning their state championships and maintaining accident-free records for at least a year.
Notable competitors include 'Rookie of the Year' state champion Darrell Anderson from South Dakota and Ina Daly from Arizona, the first woman to be named a national NTDC Grand Champion. Four XPO drivers were named Grand Champions of their state competitions: Ernie Budlowski (Connecticut), Rich Sweeney (Massachusetts), Wilbert Vano (New Jersey), and Larry Gorby (West Virginia).
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