XPO, Inc. Files 2024 10-K

Ticker: XPO · Form: 10-K · Filed: 2025-02-07T00:00:00.000Z

Sentiment: neutral

Topics: 10-K, transportation, financials

TL;DR

XPO dropped its 2024 10-K. Full financials out now.

AI Summary

XPO, Inc. filed its 2024 10-K on February 7, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly XPO Logistics, Inc., operates in the transportation services sector. Key financial details and operational highlights from the filing are expected to be detailed within the report.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of XPO's financial performance, strategic initiatives, and risk factors for the fiscal year 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-K filings inherently carry medium risk due to the detailed financial and operational information that can impact stock price.

Key Numbers

Key Players & Entities

FAQ

What was XPO, Inc.'s total revenue for the fiscal year 2024?

The provided text does not contain specific revenue figures for fiscal year 2024. The full 10-K filing would contain this information.

What is the company's primary business segment?

XPO, Inc. is classified under 'TRANSPORTATION SERVICES [4700]' according to its Standard Industrial Classification.

When did XPO, Inc. change its name from XPO Logistics, Inc.?

The date of the name change from XPO Logistics, Inc. to XPO, Inc. was September 2, 2011.

What is the company's principal business address?

The business address for XPO, Inc. is FIVE AMERICAN LANE, GREENWICH, CT 06831.

What is the SEC file number for XPO, Inc.'s 10-K filing?

The SEC file number for XPO, Inc. is 001-32172.

Filing Stats: 4,397 words · 18 min read · ~15 pages · Grade level 14.4 · Accepted 2025-02-07 06:47:00

Key Financial Figures

Filing Documents

Page No

PART I Page No.

Business

Item 1 Business 4

Risk Factors

Item 1A Risk Factors 15

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 27

Cybersecurity

Item 1C Cybersecurity 28

Properties

Item 2 Properties 29

Legal Proceedings

Item 3 Legal Proceedings 29

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 29 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29

[ Reserved ]

Item 6 [ Reserved ] 30

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 43

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 45

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 91

Controls and Procedures

Item 9A Controls and Procedures 91

Other Information

Item 9B Other Information 91

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 92

Executive Compensation

Item 11 Executive Compensation 92

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 92

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 92 PART IV

Exhibit s and Financial Statement Schedules

Item 15 Exhibit s and Financial Statement Schedules 93

Form 10-K Summary

Item 16 Form 10-K Summary 99

Signatures

Signatures 100 3 PART I In this Annual Report, "we," "our," "us," "XPO, Inc.," "XPO," and "the Company" refer to XPO, Inc. and its consolidated subsidiaries, unless the context requires otherwise. Cautionary Statement Regarding Forward-Looking Statements This Annual Report and other written reports and oral statements we make from time to time contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target," "trajectory" or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual future results, levels of activity, performance or achievements to be materially different from our expected future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include those discussed below and the risks discussed in the Company's other filings with the Securi

BUSINESS

ITEM 1. BUSINESS Company Overview XPO, Inc., together with its subsidiaries, is a leading provider of freight transportation services, with company-specific avenues for value creation. We use our proprietary technology to move goods efficiently through our customers' supply chains in North America and Europe. As of December 31, 2024, we had approximately 38,000 employees serving approximately 55,000 customers through 614 locations in 17 countries. Our company has two reportable segments: North American Less-Than-Truckload ("LTL"), the largest component of our business, and European Transportation. North American LTL Segment LTL in North America is a bedrock industry providing a critical service to the economy, with secular growth drivers, a favorable pricing environment and an established competitive landscape. XPO is one of the largest LTL networks in North America, with approximately 9% share of the U.S. market, estimated to be $52 billion in 2023. We provide approximately 36,000 shippers with critical geographic density and day-definite domestic services to approximately 99% of U.S. zip codes, as well as cross-border services to Mexico, Canada and the Caribbean. Our capacity and reach give us the ability to manage large freight volumes efficiently and balance our network to leverage fixed costs. For the full year 2024, our customer-focused organization of truck drivers, service center teams and sales professionals worked together to move approximately 18 billion pounds of freight through our network. 4 Importantly, our LTL business historically has generated a high return on invested capital and robust free cash flow. This supports our ongoing investments in people, network capacity and proprietary technology. We manage the business to specific objectives, such as on-time delivery and damage-free transport of customer freight, the optimal sourcing of linehaul transportation, and the strategic expansion of our footprint in markets with long-term demand.

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