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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 (NYSE: XPO) announced that 246 professional truck drivers achieved significant safety milestones in 2024, collectively driving over 308 million consecutive accident-free miles. The achievements include:
- 199 drivers reaching one million accident-free miles
- 35 drivers surpassing two million miles
- 9 drivers achieving three million miles, including the company's 100th driver to reach this milestone
- 3 drivers attaining four million accident-free miles
The three four-million-mile achievers - Dale Williams, Doug Phelps, and Darrell Thompson - have a combined 116 years of accident-free driving at XPO. Their achievement equals driving to the moon and back over eight times.
XPO (NYSE: XPO), a leading North American freight transportation provider, has renewed its platinum partnership with Truckers Against Trafficking (TAT) for 2025, marking the fifth consecutive year of collaboration. The partnership focuses on educating and empowering transportation industry members to combat human trafficking. Nearly 6,000 XPO employees across the United States have received training to recognize and report suspected human trafficking incidents.
The renewal announcement coincides with National Human Trafficking Awareness Month, highlighting the importance of public resources like the National Human Trafficking Hotline. Truck drivers' reports have been instrumental in rescuing survivors and disrupting trafficking networks nationwide.
XPO has announced its upcoming fourth quarter 2024 earnings conference call and webcast, scheduled for Thursday, February 6, 2025, at 8:30 a.m. Eastern Time. The company will release its financial results earlier that morning on their website www.xpo.com.
The conference call will be accessible via toll-free numbers for US/Canada (1-877-269-7756) and international callers (+1-201-689-7817). A live webcast will be available on XPO's investor relations website. The company will make a replay available until March 8, 2025, accessible through dedicated phone numbers and passcode 13750889.
XPO, a major North American freight transportation provider, has released preliminary Less-than-Load (LTL) operating metrics for November 2024. The company reported a 4.0% decrease in LTL tonnage per day compared to November 2023. This decline was primarily due to a 4.2% reduction in daily shipments, partially offset by a slight 0.2% increase in weight per shipment.
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.
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