XPO, Inc. filed its quarterly report on Form 10-Q with the SEC on October 29, 2026, covering the three- and nine-month periods ended September 30, 2026, disclosing third-quarter revenue of $2,373 million and net income of $181 million.

Key Highlights

  • Third-quarter revenue: $2,373 million for the three months ended September 30, 2026, compared with $2,111 million in the same period of 2025.
  • Third-quarter net income: $181 million, up from $82 million in Q3 2025, with diluted earnings per share of $1.53 versus $0.68 a year earlier.
  • Nine-month net income: $444 million on revenue of $6,823 million for the nine months ended September 30, 2026, compared with net income of $257 million on revenue of $6,146 million in the prior-year period.
  • Operating cash flow: Net cash provided by operating activities was $906 million for the nine months ended September 30, 2026, versus $760 million in the comparable 2025 period.
  • Share repurchases: $250 million in common stock was repurchased during the nine months ended September 30, 2026, compared with $57 million in the same period of 2025.
  • Long-term debt reduced: Long-term debt stood at $2,995 million as of September 30, 2026, down from $3,253 million at December 31, 2025.
  • Shares outstanding: As of October 23, 2026, there were 116,508,895 shares of common stock outstanding.

XPO's Less-Than-Truckload Operations Drive Third-Quarter Earnings Growth

According to the filing, XPO, Inc. (NYSE:XPO) is a freight transportation company whose condensed consolidated income statement reflects the cost structure typical of a less-than-truckload carrier. The three largest operating expense categories for the third quarter of 2026 were salaries, wages and employee benefits at $949 million, purchased transportation at $451 million, and fuel, operating expenses and supplies at $488 million. Third-quarter operating income reached $288 million, compared with $164 million in Q3 2025, with the prior-year period having included a $35 million charge described in the filing as a "Pre-Con-way acquisition environmental matter."

For the nine months ended September 30, 2026, the filing reported restructuring costs of $36 million, up from $26 million in the comparable 2025 period. Interest expense declined to $155 million from $166 million over the same nine-month comparison, which the filing attributes in part to the company's debt activity during the period. The filing disclosed proceeds from issuance of debt of $885 million and repayment of debt of $1,085 million during the nine months ended September 30, 2026, resulting in the net reduction in long-term debt noted on the balance sheet.

On the balance sheet as of September 30, 2026, total assets were $8,308 million versus $8,194 million at December 31, 2025. Net property and equipment was $3,679 million, reflecting accumulated depreciation of $2,481 million. Capital expenditures for the nine-month period were $369 million, down from $551 million in the prior-year period, according to the cash flow statement. Retained earnings grew to $1,332 million from $888 million at the prior fiscal year-end, while additional paid-in capital declined to $834 million from $1,160 million, consistent with the share repurchase activity disclosed in the filing.

What Was Disclosed

XPO, Inc. filed a Form 10-Q for the quarterly period ended September 30, 2026, reporting third-quarter revenue of $2,373 million, net income of $181 million, diluted EPS of $1.53, nine-month operating cash flow of $906 million, and $250 million in common stock repurchases during the year-to-date period.