GREENWICH, Conn., June 06, 2024 (GLOBE NEWSWIRE) — XPO (NYSE:XPO), a leading provider of freight transportation in North America, today reported certain preliminary LTL segment operating metrics for May 2024. LTL tonnage per day increased 2.4%, as compared with May 2023, attributable to a year-over-year increase of 3.8% in shipments per day and a decrease of 1.4% in weight per shipment. Actual results for May 2024 may vary from the preliminary results reported above.
Mario Harik, chief executive officer of XPO, said, “We’re continuing to take profitable share in a soft freight market, with improved service quality driving consistent above-market yield growth. Through May, our second quarter yield ex-fuel is tracking to a sequential improvement from the first quarter.”
Harik continued, “Providing world class service to our customers is a cornerstone of our growth strategy. We improved damage frequency again in May, while delivering a 3.8% year-over-year increase in shipments per day — the fourteenth consecutive month of positive performance. We’ll continue to improve service quality and make investments that enhance our near-term profitability, while also accelerating our results when industry demand rebounds.”
About XPO
XPO, Inc. (NYSE:XPO) is a leader in asset-based less-than-truckload (LTL) freight transportation in North America. The company’s customer-focused organization efficiently moves 18 billion pounds of freight per year, enabled by its proprietary technology. XPO serves approximately 52,000 customers with 610 locations and 39,000 employees in North America and Europe, with headquarters in Greenwich, Conn., USA. Visit xpo.com for more information, …