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XPO Logistics Reveals Expansion Of Less-Than-Truckload Network

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  • XPO Logistics Inc (NYSE: XPO) opens two new less-than-truckload (LTL) terminals to increase customer service capacity in its North American network.

  • The company also increased production capacity at its trailer manufacturing facility and will open four more fleet maintenance shops this quarter.

  • "The strategic actions we initiated in the fourth quarter began showing results in a matter of weeks, giving us good traction for the execution of our plan in 2022. Our investments in this high-ROIC business will benefit customers across our national LTL platform," said Mario Harik, acting president, less-than-truckload, and chief information officer of XPO Logistics.

  • The company's LTL action plan includes expanding its North American LTL door count by 900 doors, or approximately 6%, by year-end 2023.

  • Price Action: XPO shares are trading lower by 0.18% at $70.29 on the last check Tuesday.

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