XPO Q2 Earnings Surge: Adjusted EPS Up 62%, LTL Margins Hit Record
XPO sits 76% above its 52-week low of $116.68.
Summary
XPO reported Q2 2026 adjusted diluted EPS of $1.70, up 62% year-over-year, on revenue of $2.36 billion. North American LTL margins hit a record, and strong cash flow funded buybacks and debt reduction.
Key Events · Earnings and Guidance · XPO
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Adjusted EPS Surges 62%
Driven by strong LTL performance and operating leverage, adjusted diluted EPS reached $1.70, up from $1.05 in Q2 2025.
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Record LTL Operating Ratio
The North American LTL adjusted operating ratio improved 300 bps to a company record of 79.9%, supported by 4.4% yield growth (ex-fuel) and a 1% tonnage increase.
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Strong Cash Flow Funds Buybacks
Operating cash flow of $308 million in Q2 enabled $70 million in stock repurchases and $70 million in term loan repayments, ending with $298 million cash.
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European Restructuring Drags
European Transportation revenue grew 10% to $927 million, but $21 million in restructuring costs led to a $6 million operating loss.
Analysis · XPO · Energy & Transportation
A standout quarter for XPO was fueled by a 62% year-over-year leap in adjusted diluted EPS to $1.70, propelled by a 36% increase in North American LTL adjusted operating income. The LTL segment's adjusted operating ratio improved 300 basis points to a record 79.9%, reflecting strong yield growth, higher tonnage, and productivity gains. Operating cash flow reached $308 million, which the company deployed to repurchase $70 million in stock and pay down $70 million in debt. European Transportation revenue grew 10%, but restructuring costs pushed the segment to an operating loss. Overall, the results demonstrate accelerating momentum in the core LTL business, with management citing AI-driven efficiency and service quality improvements.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 29.2% of the 1496 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, XPO was trading at $205.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $23.4B. The 52-week trading range was $116.68 to $232.05. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.