Less-than-truckload carriers are still seeing negative tonnage results at what is likely the bottom of the cycle. XPO and Old Dominion Freight Line are the latest to provide November results after updates from a pair of carriers sent shares for the group lower on Tuesday.
XPO eyeing Q4 margin improvementXPO (NYSE: XPO) reported a 4% y/y decline in tonnage per day during November, which followed an 8% decline in October. October was up against a tough comp due to a cyberattack at Estes last year...
https://www.freightwaves.com/news/xpo-old-dominion-waiting-for-market-turn