Welcome to our dedicated page for XPO news (Ticker: XPO), a resource for investors and traders seeking the latest updates and insights on XPO stock.
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), a leading provider of less-than-truckload (LTL) freight transportation, has appointed Dave Bates as the new Chief Operating Officer for North American LTL, effective April 21, 2023. Bates brings 27 years of experience from Old Dominion Freight Line, where he oversaw all North American operations as Senior Vice President. XPO's CEO, Mario Harik, praised Bates for his strong track record in LTL operations, emphasizing his contribution to creating value for customers and investors.
With 554 locations and 38,000 employees, XPO is a major player in asset-based LTL transportation in North America, leveraging proprietary technology to optimize freight movement across its network.
XPO (NYSE: XPO) will hold its first quarter conference call on May 4, 2023, at 8:30 a.m. ET. The company’s earnings results will be released earlier that same day, accessible via www.xpo.com. Interested parties can join the call through a toll-free number for the US/Canada at 1-877-269-7756 or for international callers at +1-201-689-7817. A live webcast will also be available on www.xpo.com/investors. A replay of the conference call can be accessed until June 4, 2023, using the toll-free number 1-877-660-6853 (US/Canada) or +1-201-612-7415 (international), with the passcode 13738165. XPO is a leading asset-based less-than-truckload transportation provider in North America, serving around 48,000 customers and operating 554 locations.
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