XPO Inc (NYSE: XPO) is a freight transportation company that operates a North American less-than-truckload (LTL) network and a European transportation business. Revenue is transactional, earned by charging shippers per shipment based on weight, distance, and service type, with yield measured as gross revenue per hundredweight excluding fuel surcharges. The North American LTL network served approximately 37,000 shippers as of FY2025, covering approximately 99% of U.S. zip codes plus cross-border services to Mexico, Canada, and the Caribbean. Full-year FY2025 revenue was $8.157 billion, compared with $8.072 billion in FY2024. Salaries, wages, and employee benefits were the largest cost at 42.0% of revenue in FY2025. The company is capital-intensive, deploying approximately 60% of FY2025 capital expenditures to acquire more than 3,600 trailers and 1,200 tractors. CEO Mario Harik also serves as Chairman, and Kyle Wismans is CFO, per the 10-K filed February 5, 2026.

Revenue model

Transactional freight revenue charged per shipment, priced by weight and distance. Yield is tracked as gross revenue per hundredweight excluding fuel surcharges. FY2025 yield grew 6.0% compared with FY2024, driven by service improvements, accessorial service expansion, and local customer revenue growth.

Products and services

North American LTL freight transportation with day-definite domestic service and cross-border service to Mexico, Canada, and the Caribbean. European Transportation operations. The company also operates a trailer manufacturing facility and has developed AI-based linehaul modeling, routing innovations for pickup-and-delivery, and real-time labor analytics tools.

Customers and end markets

Approximately 37,000 shippers served through the North American LTL network as of FY2025. The filing does not disclose customer concentration, top-customer percentages, or specific end-market verticals.

Value-chain role

Asset-based freight carrier operating its own service center network, tractor and trailer fleet, and linehaul operations. The company insources linehaul from third-party transportation providers and operates a captive trailer manufacturing facility. It sits between shippers and consignees as the physical carrier of freight.

Geographic exposure

Primary operations in North America, covering approximately 99% of U.S. zip codes as of FY2025, with cross-border services to Mexico, Canada, and the Caribbean. Secondary operations in Europe. U.S. income before income tax provision was $456 million in FY2025; non-U.S. operations reported a loss before income tax provision of $19 million in FY2025.

Source: SEC 10-K, filed 2026-02-05

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