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Companies $XPO
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XPO, Inc.

xpo.com

What Do They Do?

Moves less-than-truckload freight and provides other transportation services for shippers and businesses across North America and Europe.

How Do They Make Money?

Customers pay for freight transportation and related services under their contracts. They are generally billed when freight ships or monthly; shipments are billed as they move from origin to destination, while some contracts pay over the contract term.

revenue
SegmentShareRevenue
North American LTL
Mix

59%
FY2022: 60%
European Transportation
Mix

41%
FY2022: 40%

Who Are Their Customers?

Shippers range from small businesses to large companies across many industries. The company serves them through its transportation services in North America and Europe.

Customers above 10% of revenue, FY2025
of revenue from two customers (8%, 3%)

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025
8% of revenue
▼ −1% vs FY2024 ($660M, 8%)
Net income, FY2025
4% of revenue
▼ −18% vs FY2024 ($387M, 5%)

How Are They Changing?

Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 30, 2026
Revenue
▲ +13%
vs $2.1B in Q2 FY2025
Net income
▲ +53%
vs $106M in Q2 FY2025
North American LTL share of revenue vs 59.6% in Q2 FY2025
  • Jul 30, 2026 Investor presentation sets financial targets for North American LTL The presentation lists targets for revenue growth, adjusted EBITDA growth and operating ratio improvement through 2027.

Growing. Revenue grew 13% in 4 years, from $7.2B in FY2021 to $8.2B in FY2025, about 3% a year.

European service mix The latest report describes multimodal solutions as an increasingly offered European service, while the earlier report also named road-rail and road-short-sea combinations as examples.

Revenue over time
North American LTL European Transportation
$10B$5B$0

Who Do They Compete With?

Competes with Old Dominion Freight Line and Saia

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