Similar to other less-than-truckload carriers, XPO saw a notable year-over-year (y/y) improvement in volumes in February when compared to January.
In a Tuesday update following the market close, the carrier said tonnage grew 3.5% y/y in February as a 5.8% increase in shipments was partially offset by a 2.2% decline in weight per shipment. The tonnage increase was an improvement from a modest decline in January.
Further, XPO (NYSE: XPO) was facing tougher tonnage comps than most peers. When...
https://www.freightwaves.com/news/xpo-provides-favorable-february-update