The EPS beat and strong margin improvement in North American LTL are the key positives, while the slight revenue miss is minor. Watch for freight demand recovery commentary on the call and any updated full-year guidance.
Price Chart
Executive Summary
XPO reported Q3 2026 adjusted diluted EPS of $1.70, beating the $1.57 consensus by 8.3%, and revenue of $2.37B, slightly below the $2.38B consensus. North American LTL segment revenue grew 17.4% YoY with a 260 bps improvement in adjusted operating ratio to 80.1%, while total revenue grew 12.4% YoY and adjusted EBITDA rose 26.6% to $433M.
Key Financial Metrics
Key Facts
- Adjusted diluted EPS of $1.70 vs consensus $1.57 (beat by 8.3%)
- Revenue of $2.37B vs consensus $2.38B (slight miss of 0.4%)
- Revenue grew 12.4% YoY to $2.37B
- North American LTL revenue up 17.4% YoY to $1.47B
- North American LTL adjusted operating ratio improved 260 bps to 80.1%
- Adjusted EBITDA grew 26.6% YoY to $433M
- Operating cash flow of $415M in Q3
- Returned $150M to shareholders via buybacks in Q3
- Net debt declined with $100M term loan repayment
Financial Impact
Adjusted diluted EPS of $1.70 beat consensus by $0.13 (8.3%); revenue of $2.37B was $10M below consensus; adjusted EBITDA grew 26.6% YoY to $433M
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| North American Less-Than-Truckload | $1.5B | +17.4% |
| European Transportation | $900.0M | +5.0% |
Risk Factors
- Revenue slightly below consensus despite strong EPS beat
- Fuel cost inflation and wage inflation partially offset margin gains
- European Transportation segment has thin margins (5.3% adjusted EBITDA margin)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3391063 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 3d ago | 8-K | $183.01 $189.57 | ▲ +3.58% | ▲ +5.36% | $189.57 (+3.58%) |
Oct 29, 2026 3d ago | 8-K | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 29, 2026 3d ago | Press Release | $183.01 $189.57 | ▲ +3.58% | ▲ +5.36% | $189.57 (+3.58%) |
Oct 26, 2026 6d ago | Institutional Cluster | $182.32 $187.92 | ▲ +3.07% | ▲ +2.51% | $189.57 (+3.98%) |
Oct 2, 2026 4w ago | Insider Cluster | $186.09 $182.86 | ▲ +1.74% | ▲ +2.41% | $189.57 (−1.87%) |
Oct 1, 2026 4w ago | Press Release | $179.73 $186.09 | ▲ +3.54% | ▲ +2.80% | $189.57 (+5.47%) |
Sep 21, 2026 5w ago | Press Release | $174.34 $177.67 | ▲ +1.91% | ▲ +1.93% | $189.57 (+8.74%) |
Sep 15, 2026 6w ago | Insider Cluster | $174.41 $175.34 | ▲ +0.53% | ▼ −0.60% | $189.57 (+8.69%) |
Sep 9, 2026 7w ago | Press Release | $182.34 | awaiting T+1 | awaiting T+1 | $189.57 (+3.97%) |
Sep 3, 2026 8w ago | Press Release | $193.10 $190.06 | ▼ −1.57% | ▼ −1.03% | $189.57 (−1.83%) |
US Market Status
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