Xpo Inc Stock Price, News & Analysis

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).

XPO, a leading North American LTL freight transportation provider, has announced a major expansion of its cross-border service between the US and Mexico with the launch of XPO Mexico+. This expansion responds to growing customer demand and shifting supply chains from overseas to North American production. Key features of XPO Mexico+ include:

• Expansion to seven border-crossing points for faster delivery times
• Secure, CTPAT-certified service covering 99% of postal codes in Mexico
• Significant increase in cross-border capacity
• Real-time online tracking and instant quote access
• Dedicated bilingual concierge desk for customer support

XPO Mexico+ builds on the company's four decades of experience in US-Mexico transport, aiming to meet the evolving needs of customers amid nearshoring trends.

XPO has scheduled its second quarter 2024 earnings conference call for Thursday, August 1, 2024, at 8:30 a.m. Eastern Time. The earnings results will be released earlier that morning and will be available on the company's website. Investors can join the call toll-free from the US and Canada or via international numbers. A live webcast will also be available online. A replay of the call can be accessed until August 31, 2024. The call will also be archived on the XPO investors' webpage.

XPO (NYSE: XPO), a top freight transportation provider in North America, released preliminary operating metrics for its LTL segment for May 2024. The company saw a 2.4% increase in LTL tonnage per day compared to May 2023, driven by a 3.8% rise in shipments per day and a 1.4% decrease in weight per shipment. CEO Mario Harik highlighted that XPO continues to gain profitable market share despite a soft freight market, with improved service quality contributing to consistent yield growth. He noted that the second quarter's yield, excluding fuel, is showing sequential improvement from the first quarter. The company also reported improved damage frequency and emphasized its commitment to enhancing service quality and near-term profitability, while preparing for a potential rebound in industry demand.

XPO (NYSE: XPO) opens a new 36,000 square foot freight transportation center in Las Vegas to enhance trade show shipping services and improve freight routing across the Southwest and Rockies. This second location in Las Vegas strengthens XPO's presence in Nevada and offers faster service to local customers, showcasing the company's commitment to expanding in key markets.

XPO reported strong financial results for the first quarter of 2024, with revenue reaching $2.02 billion, a 6% increase year-over-year. The company's adjusted diluted EPS grew by 45% to $0.81. North American LTL segment saw significant improvements in adjusted operating income and operating ratio, reflecting a 50% increase and 390-basis-point improvement, respectively. The European Transportation segment showed a slight revenue increase, while the Corporate segment reduced operating losses due to cost optimizations.