XPO's North American LTL Tonnage/Day Decreased 0.4% YoY, Reflecting an Increase of 3.8% in Shipments/Day and a Decrease of 4.1% in Weight/Shipment
Portfolio Pulse from Benzinga Newsdesk
XPO Logistics, a major North American freight transportation provider, reported preliminary LTL (Less-Than-Truckload) operating metrics for November 2023. The company saw a slight decrease of 0.4% in LTL tonnage per day compared to November 2022. This was due to a 3.8% increase in daily shipments but offset by a 4.1% decrease in the weight per shipment. The final results for November 2023 may differ from these preliminary figures.
December 05, 2023 | 11:40 am
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NEUTRAL IMPACT
XPO Logistics experienced a marginal decline in LTL tonnage per day for November 2023, despite an increase in the number of shipments, due to lighter shipment weights. Final results may still change.
The decrease in LTL tonnage per day is a mixed signal, indicating more shipments but lighter weights, which could suggest a change in the mix of goods being transported or efficiency improvements. The impact on the stock price is likely to be neutral in the short term as the market digests the implications of the preliminary data and awaits the final results.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100