XPO releases North American LTL operational data for August 2024

GREENWICH, Conn., Sept. 4, 2024 (GLOBE NEWSWIRE) — XPO (NYSE: XPO), a leading provider of freight transportation services in North America, today reported preliminary operating metrics for its LTL segment for August 2024. LTL tonnage per day decreased 4.6% compared to August 2023, driven by a 4.5% year-over-year decrease in daily shipments and a 0.1% decrease in weight per shipment. Actual results for August 2024 may differ from the preliminary results shown above.

Mario Harik, XPO CEO, said, “In August, we effectively managed our variable costs in a weak demand environment, which supported our margin expansion prospects. The industry pricing backdrop remains constructive, and we are executing on our company-specific initiatives to deliver strong above-market profitability growth. Our ongoing service enhancements and network investments will further accelerate our results as industry demand recovers.”

About XPO

XPO, Inc. (NYSE: XPO) is the asset-based leader in less-than-truckload (LTL) transportation in North America. The company’s customer-focused organization efficiently moves 18 billion pounds of freight annually, enabled by its proprietary technology. XPO serves approximately 53,000 customers in 615 locations and 38,000 employees in North America and Europe, with headquarters in Greenwich, Conn., USA. Visit xpo.com for more information and to contact XPO at LinkedIn, Facebook, X, Instagram AND YouTube.

Forecast statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are or may be deemed to be forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “anticipate,” “estimate,” “believe,” “continue,” “may,” “intend,” “may,” “plan,” “potential,” “predict,” “should,” “will,” “expect,” “goal,” “projection,” “forecast,” “target,” “guidance,” “outlook,” “effort,” “target,” “trajectory” or the negative of these terms or other comparable terminology. These forward-looking statements are based on certain assumptions and analyses that we have made in light of our experience and our perception of historical trends, current conditions and expected future events, and other factors that we believe are appropriate in the circumstances.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause or contribute to a material difference include the risks discussed in our filings with the SEC and the following: business, economic, political, legal and regulatory effects or conflicts on our operations; supply chain disruptions and shortages, production or raw material extraction burdens, cost inflation and labor and equipment shortages; our ability to align our investments in capital assets, including equipment, service centers and warehouses, with our customers’ requirements; our ability to implement our cost and revenue initiatives; the effectiveness of our action plan and other management actions to improve our North American LTL business; our ability to benefit from the sale, spin-off or other disposal of one or more business units or to successfully integrate and realize anticipated synergies, cost savings and profit opportunities from acquired businesses; impairment of goodwill; compliance matters with data protection, competition and intellectual property laws; fluctuations in foreign exchange rates, fuel prices and fuel surcharges; the expected benefits of the spin-off of GXO Logistics, Inc. and RXO, Inc.; our ability to develop and implement appropriate information technology systems; the impact of potential cyberattacks and IT or data security breaches or failures; our indebtedness; our ability to obtain debt and equity capital; interest rate fluctuations; seasonal fluctuations; our ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain key employees, including qualified drivers; labor matters; litigation; and competitive and pricing pressures. We caution you that our operating results for August 2024 are not necessarily indicative of the results that can be expected in future periods.

All forward-looking statements contained in this release are qualified by these cautionary statements and there can be no assurance that the actual results or events anticipated by us will be achieved or, even if substantially achieved, that they will have the anticipated consequences or effects on us or our business or operations. The forward-looking statements contained in this release speak only as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, except as required by law.

Contact for investors
Brian Scasserra
+1-617-607-6429
[email protected]

Media contact
Cole Horton
+1-203-609-6004
[email protected]