Company Overview

XPO, Inc., together with its subsidiaries, provides freight transportation services in the United States, North America, France, the United Kingdom, and rest of Europe. The company operates in two segments: North American Less-Than-Truckload (LTL) and European Transportation. Headquartered in Greenwich, Connecticut, XPO operates 614 locations globally.

XPO is the second-largest provider of less-than-truckload (LTL) services in North America, operating in 99 percent of all U.S. postal codes. The company's customer-focused organization efficiently moves 18 billion pounds of freight per year, enabled by its proprietary technology.

Business Segments

#### North American Less-Than-Truckload (LTL)

The North American LTL segment represents XPO's core business and primary growth driver. It provides shippers with geographic density and day-definite domestic and cross-border services to the United States (U.S.), as well as Mexico, Canada, and the Caribbean. LTL is a freight model which involves shipping smaller quantities of goods for multiple customers at a time.

#### European Transportation

XPO provides dedicated truckload, LTL, truck brokerage, managed transportation, last mile, and freight forwarding services in Europe. The company also manages multimodal solutions, such as road-rail and road-short sea combinations.

Financial Performance and Market Position

Q2 2025 Results (July 31, 2025)

XPO reported diluted earnings per share of $0.89, compared with $1.25 for the same period in 2024, and adjusted diluted earnings per share of $1.05 for the second quarter of 2025.

Key Q2 2025 Financial Metrics:

- Revenue: $2.08 billion, compared with $2.08 billion for the same period in 2024.

- Operating income: $198 million for the second quarter, compared with $197 million for the same period in 2024.

- Adjusted EBITDA: $340 million for the second quarter, compared with $343 million for the same period in 2024.

- Cash flow from operating activities: $247 million in the second quarter.

- Cash and cash equivalents: $225 million on hand at quarter end.

Q1 2025 Results (April 30, 2025)

The company reported diluted earnings per share of $0.58, compared with $0.56 for the same period in 2024, and adjusted diluted earnings per share of $0.73 for the first quarter of 2025.

Full Year 2024 Performance

In 2024, XPO, Inc.'s revenue was $8.07 billion, an increase of 4.24% compared to the previous year's $7.74 billion. Earnings were $387.00 million, an increase of 104.76%.

Market Position and Operations

Today XPO, Inc. has a market capitalization of ‪$15.47 billion‬ as of September 24, 2025. XPO serves approximately 55,000 customers with 614 locations and 38,000 employees across North America and Europe.

Strategic Developments and Recent Acquisitions

In December 2023, XPO received approval from a Delaware bankruptcy court to acquire 28 service centers of Yellow Corporation for $870 million as part of Chapter 11 bankruptcy. The acquisition was finalized in January 2024.

XPO's board has approved a new $750 million stock-buyback program for the provider of freight-transportation services.

Operational Excellence and Technology

In XPO's North American LTL business, an adjusted operating ratio of 82.9% was achieved, reflecting an industry-best year-over-year improvement of 30 basis points. The company continues to invest in proprietary technology to enhance operational efficiency and service quality.

Yield, excluding fuel, grew by 6.1%, and revenue per shipment increased by 5.6% from the prior year, with sequential growth in both metrics. On the cost side, purchased transportation expense was reduced by 53% as linehaul miles were insourced to a record level.

Recent Recognition and Awards

- In 2025, XPO was listed by DriveBigTrucks.com as one of the best trucking companies for women, based on factors such as safety practices, benefits, and career support.

- Also in 2025, Fortune magazine included XPO on its list of America's Most Innovative Companies. XPO was the only pure-play LTL carrier included in the 300-company list.

Corporate Transformation

Beginning in 2021, XPO Logistics broke into three separate publicly traded companies, making XPO solely a less-than-truckload (LTL) provider.

- In August 2021, the company spun off its contract logistics business into a separate company named GXO Logistics.

- XPO spun off its brokerage and other services—managed transportation, global forwarding, and last-mile logistics—business to a separate company named RXO, Inc.

The company was formerly known as XPO Logistics, Inc. and changed its name to XPO, Inc. in December 2022.

The transformation has allowed XPO to focus primarily on its core LTL business, positioning the company as a pure-play asset-based freight transportation provider with strong market positioning and growth prospects in the North American logistics market.