XPO, a prominent player in the North American freight transportation sector, has shared key operational insights for its LTL (Less Than Truckload) segment in November 2023. These preliminary metrics reveal a 0.4% decrease in LTL tonnage per day compared to the same period in 2022. This shift is attributed to a 3.8% year-over-year increase in shipments per day and a simultaneous 4.1% decrease in weight per shipment. It’s important to note that actual results for November 2023 may differ from these initial findings.
Mario Harik, the Chief Executive Officer of XPO, provided insights into the company’s performance, stating, “We’re making noteworthy progress in various aspects during the fourth quarter, despite the challenges posed by the soft freight market. November marked our eighth consecutive month of year-over-year growth in shipments per day, showing a robust 3.8% increase. Furthermore, our yield ex-fuel growth is surpassing expectations for the quarter, indicating sustained strength as we move into 2024.”
Harik emphasized the correlation between these operational achievements and XPO’s overarching strategy to become the industry’s premier service provider. The focus on enhancing service quality not only contributes to increased yield but positions the company to capture more profitable market share when industry tonnage rebounds. Harik elaborated, “Through the first two months of this quarter, we continued to improve our damage frequency to a new company record.”
XPO’s dedication to service excellence and continual improvement reflects its commitment to navigating challenges and leveraging opportunities in the dynamic freight transportation landscape. As the company looks ahead to the remainder of the quarter and into 2024, it remains poised for sustained growth and market leadership.
About XPO
XPO, Inc. is one of the largest providers of asset-based less-than-truckload (LTL) transportation in North America, with proprietary technology that moves goods efficiently through its network. Together with its business in Europe, XPO serves approximately 50,000 customers with 563 locations and 38,000 employees. The company is headquartered in Greenwich, Conn., USA. Visit xpo.com for more information, and connect with XPO on Facebook, X, LinkedIn, Instagram and YouTube.