XPO reported first quarter 2026 results that beat analyst estimates on both revenue and operating ratio in its LTL segment. The company posted a 150-basis-point improvement in adjusted operating ratio compared to the same period in 2025, driven by pricing discipline and network efficiency gains. Revenue per hundredweight rose as XPO continued to optimize its freight mix.
Management highlighted continued progress on its network expansion strategy, including new service center openings in high-demand markets. XPO also noted that technology investments in load planning and dock automation contributed to the operating ratio improvement.
The results mark the third consecutive quarter of year-over-year operating ratio improvement for XPO's LTL division, positioning the carrier competitively as the peak shipping season approaches.