Revenue: As of FY2026 Q2, the actual value is USD 2.355 B, beating the estimate of USD 2.273 B.

EPS: As of FY2026 Q2, the actual value is USD 1.36.

EBIT: As of FY2026 Q2, the actual value is USD 269 M.

Overall Financial Performance (Q2 2026 vs Q2 2025)

• Net Income

  Net income increased by 52.8% to $162 million from $106 million in the prior year period. Adjusted net income rose to $201 million compared to $125 million in Q2 2025.

• Operating Income

  Operating income grew by 36.9% to $271 million, up from $198 million.

• Adjusted EBITDA

  Adjusted EBITDA rose by 27.6% to $434 million from $340 million.

Operating Costs (Q2 2026 vs Q2 2025)

• Salaries, Wages, and Employee Benefits

  Salaries, wages, and employee benefits increased by 6.7% to $929 million from $871 million.

• Purchased Transportation Costs

  Purchased transportation costs rose by 8.9% to $464 million from $426 million.

• Fuel, Operating Expenses, and Supplies

  Fuel, operating expenses, and supplies increased by 24.0% to $476 million from $384 million.

• Operating Taxes and Licenses

  Operating taxes and licenses saw a 4.8% increase to $22 million, up from $21 million.

• Insurance and Claims

  Insurance and claims remained flat at $40 million.

• Depreciation and Amortization Expense

  Depreciation and amortization expense increased by 2.3% to $134 million from $131 million.

• Restructuring Costs

  Restructuring costs rose by 175.0% to $22 million from $8 million.

Cash Flow (Q2 2026)

• Cash Flow from Operating Activities

  XPO, Inc. generated $308 million in cash flow from operating activities during the second quarter.

• Cash and Cash Equivalents

  The company ended the quarter with $298 million in cash and cash equivalents.

• Capital Expenditures and Repayments

  During the quarter, XPO, Inc. completed $101 million in net capital expenditures, repurchased $70 million of common stock, and made $70 million in term loan repayments.

Segment Performance (Q2 2026 vs Q2 2025)

• North American Less-Than-Truckload (LTL) Segment

  • Operating Income: Operating income increased by 43.2% to $285 million, from $199 million. Adjusted operating income grew by 36.0% to $287 million, compared to $211 million.
  • Adjusted Operating Ratio: The adjusted operating ratio improved by 300 basis points year-over-year to a record 79.9%.
  • Adjusted EBITDA: Adjusted EBITDA for the segment increased by 30.0% to $390 million, up from $300 million.
  • Operational Metrics: Yield, excluding fuel, increased by 4.4%, shipments per day increased by 2.8%, and tonnage per day increased by 1.0%. The segment achieved a company-best damage claims ratio below 0.2%.

• European Transportation Segment

  • Operating Income/Loss: This segment reported an operating loss of - $6 million, compared to an operating income of $11 million in the same period last year, primarily due to restructuring.
  • Adjusted Operating Income: Adjusted operating income increased by 40.0% to $21 million from $15 million.
  • Adjusted EBITDA: Adjusted EBITDA for the segment grew by 9.1% to $48 million, up from $44 million.

• Corporate Segment

  • Operating Loss: The Corporate segment recorded an operating loss of - $9 million, an improvement from a loss of - $11 million in the prior year.
  • Adjusted EBITDA: Adjusted EBITDA remained consistent at - $4 million.

Outlook / Guidance

The report includes forward-looking statements regarding XPO, Inc.’s ability to improve pricing growth and the anticipated impact of a freight market recovery. The company expects to capture profitable share gains, facilitate yield growth, and improve free cash flow and margins during an upcycle. No specific quantitative financial guidance or outlook for future periods is provided within this report.