XPO Reports August LTL Tonnage Per Day Decrease Of 4.6% Y/Y
Portfolio Pulse from Benzinga Newsdesk
XPO reported a 4.6% year-over-year decrease in LTL tonnage per day for August, due to a 4.5% drop in shipments per day and a 0.1% decrease in weight per shipment. Despite the decline, XPO managed costs effectively, supporting their margin expansion outlook.
September 04, 2024 | 8:48 pm
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XPO's LTL tonnage per day decreased by 4.6% in August, driven by a drop in shipments and weight per shipment. Despite this, effective cost management supports their margin expansion outlook.
The decrease in LTL tonnage per day indicates a decline in business activity, which could negatively impact short-term stock prices. However, effective cost management and a positive margin outlook may mitigate some negative effects.
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