XPO Logistics

XPO, Inc. (formerly XPO Logistics) is an American transportation company and the second-largest provider of less-than-truckload (LTL) services in North America. Founded in 1989 as Express-1 Expedited Solutions and transformed under CEO Brad Jacobs starting in 2011, XPO has evolved from a diversified logistics provider into a focused LTL carrier following strategic spin-offs. The company operates in 99% of all U.S. postal codes with 614 locations globally, employing 38,000 people and generating $8.07 billion in annual revenue as of December 2024.

Under Jacobs' leadership from 2011-2022, XPO executed an aggressive acquisition strategy, purchasing over 17 companies including major deals like Norbert Dentressangle ($3.56 billion in 2015) and Con-way ($3 billion in 2015). Beginning in 2021, the company underwent a strategic transformation, spinning off its logistics business as GXO Logistics and its truck brokerage as RXO, leaving XPO as a pure-play LTL provider. The company dropped "Logistics" from its name in December 2022 to reflect this focused strategy.

In 2022, Mario Harik, XPO's former Chief Information Officer, became CEO, bringing a technology-first approach to operations. Under Harik's leadership, XPO has implemented its LTL 2.0 optimization program, integrating artificial intelligence and machine learning for dynamic route optimization and AI-driven load-building. The company acquired 28 service centers from bankrupt Yellow Corp for $870 million in 2024, expanding capacity while maintaining focus on organic growth and operational excellence rather than additional M&A.

XPO has delivered strong performance despite challenging freight market conditions, reporting Q3 2025 adjusted earnings per share of $1.07 (beating expectations) with revenue of $2.11 billion. The company targets 6-8% revenue CAGR and 11-13% adjusted EBITDA CAGR over 2021-2027, with at least 600 basis points of adjusted operating ratio improvement. In 2025, Fortune magazine recognized XPO on its list of America's Most Innovative Companies, validating the company's technology-driven transformation and operational excellence initiatives.