XPO's North American LTL Segment Grows 2.4% in May 2024

XPO's North American LTL segment showed positive performance in May 2024 compared to the same period last year. LTL tonnage per day increased by 2.4%, driven by a 3.8% rise in shipments per day, partially offset by a 1.4% decrease in weight per shipment.

Mario Harik, XPO's CEO, highlighted the company's ability to gain profitable market share in a challenging freight environment. He noted that improved service quality contributed to consistent above-market yield growth. Additionally, XPO achieved a 3.8% year-over-year increase in shipments per day for the fourteenth consecutive month.

Harik emphasized the company's commitment to enhancing service quality and making strategic investments to bolster near-term profitability. He also expressed optimism about accelerating results when industry demand rebounds.

XPO, a leader in asset-based less-than-truckload freight transportation in North America, moves 18 billion pounds of freight annually and serves approximately 52,000 customers with 610 locations and 39,000 employees across North America and Europe.

These figures reflect XPO's continuous efforts to improve operational efficiency and deliver value to its customers in the dynamic freight transportation industry. Today the company's shares have moved -0.5% to a price of $108.0. Check out the company's full 8-K submission here.

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