XPO

Logistics Management Group News Editor Jeff Berman recently interviewed Ali Faghri Chief Strategy Officer at Greenwich, Conn.-based national less-than-truckload (LTL) carrier XPO. Faghri provided Berman with a detailed overview of the LTL market, economic conditions, and how XPO is leveraging AI, among other topics, in the interview below.

Given the myriad of challenges facing the LTL market, it is likely that current market conditions are likely to remain intact, barring a true indication of a demand catalyst.

Fewer trucks chasing even less freight. That’s the mid-year summary of the $994 billion domestic trucking market.

During Wilson’s tenure as CEO, the company increased revenue from $7.9 billion in 2021 to $11 billion in the twelve months ended September 30, 2024;

As Hurricane Milton reached landfall last night in various parts of coastal Florida, safety is paramount for everyone, of course. That said, Logistics Management has provided an overview below of what is happening with various freight transportation carriers, providers and ports. The statements below are directly from company websites to keep you informed in a brief and concise manner. Please be careful out there for the next few days.

Greenwich, Conn.-based less-than-truckload (LTL) carrier services provider XPO reported solid second quarter earnings results amid a still-soft freight transportation environment. Quarterly revenue, at $2.1 billion, was up 9% annually, and adjusted diluted earnings per share rose 58% annually, to $1.12, topping Wall Street’s expectations, at $1.01 per share.

Quarterly revenue, at $2.1 billion, was up 9% annually, and adjusted diluted earnings per share rose 58% annually, to $1.12, topping Wall Street’s expectations, at $1.01 per share. North American LTL revenue, at $1.27 billion, was up 12.0% annually, with XPO’s European Transportation Segment revenue, at $808 million, up 3.5%, for the same period.

Greenwich, Conn.-based national less-than-truckload (LTL) services provider XPO heralded the expansion of its United States-Mexico cross-border service, with a focus on what it called a significant increase in customer nearshoring and changing supply chain needs. The company said its new XPO+ service offers up more capacity, coverage, and technology to its long-standing cross-border routes, driven by growing customer demand, as supply chains move from overseas to production in North America.

Less than truckload (LTL) is the bright spot in trucking, but overcapacity looms

LM Group News Editor interviewed Jay Silberkleit, CIO, for Greenwich, Conn.-based national less-than-truckload (LTL) services provider XPO, in a leadership session at the SMC3 Connections conference in Colorado Springs, Co. this week. Silberkleit provided an overview of how XPO approaches and views the role of technology within LTL operations, including things like using AI, data analytics, and vetting emerging new techologies, among others. 

Saia, the nation’s eighth-largest less-than-truckload (LTL) carrier, enjoyed a blowout fourth quarter with earnings exceeding Wall Street analysts’ expectations in one of the first indications of a post-Yellow freight boom in the LTL sector.

Quarterly revenue, at $1.94 billion, was up 6% annually, and adjusted earnings per share fell 21.4% annually, to $0.77.

About a dozen trucking companies bought properties at a court-supervised auction that resold about three-fourths of Yellow’s properties for a total of just under $1.9 billion.

Quarterly revenue, at $1.98 billion, was up 2% annually, and adjusted earnings per share fell 7% annually, to $0.88, topping Wall Street estimates, at $0.66.

XPO said that it is adding 58 doors to this service center, noting that they will increase its Dallas-area capacity for shippers in the metro Dallas area across various sectors, including agriculture, energy, technology, and manufacturing. XPO previously announced it plans to add 900 net new doors throughout the United States by the first quarter of 2023.