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From Home Furnishing Business
XPO Announces Third Quarter Financial Results
October 30,
2025 by Karen Parrish in Business Strategy, Industry 
XPO announced its financial results for the third quarter 2025. The company reported diluted earnings per share of $0.68, compared with $0.79 for the same period in 2024, and adjusted diluted earnings per share of $1.07, compared with $1.02 for the same period in 2024.
Mario Harik, chief executive officer of XPO, said, “We continued to exceed expectations in the third quarter, delivering adjusted EBITDA of $342 million and adjusted diluted EPS of $1.07, both up year-over-year in a soft freight environment.”
“In North American LTL, we grew adjusted operating income by 10% to $217 million and improved our adjusted operating ratio by 150 basis points to 82.7%, significantly outperforming seasonality. Additionally, we drove meaningful year-over-year and sequential improvements in yield, and our eleventh consecutive quarter of sequential growth in revenue per shipment, excluding fuel. A combination of profitable share gains in the local channel and AI-driven productivity improvements generated strong margin outperformance in the quarter.”
Harik continued, “Our intense execution is resulting in record service quality and margin expansion at the trough of the cycle. We’re in the early innings of realizing our long-term 1 margin opportunity, and we expect performance to accelerate as our strategy continues to gain traction.”
THIRD QUARTER HIGHLIGHTS
For the third quarter 2025, the company generated revenue of $2.11 billion, compared with $2.05 billion for the same period in 2024.
Operating income was $164 million for the third quarter, compared with $176 million for the same period in 2024. Net income was $82 million for the third quarter, compared with $95 million for the same period in 2024. The year-over-year decrease in operating income and net income reflects a $35 million charge in the Corporate segment for a legal matter related to a subsidiary owned by Con-way pre-acquisition. This is reflected in diluted earnings per share of $0.68 for the third quarter, compared with $0.79 for the same period in 2024.
Adjusted net income, a non-GAAP financial measure, was $128 million for the third quarter, compared with $122 million for the same period in 2024. Adjusted diluted EPS, a non-GAAP financial measure, was $1.07 for the third quarter, compared with $1.02 for the same period in 2024.
Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, was $342 million for the third quarter, compared with $333 million for the same period in 2024.
The company generated $371 million of cash flow from operating activities in the third quarter and ended the quarter with $335 million of cash and cash equivalents on hand, after $150 million of net capital expenditures. The company repurchased $50 million of common stock and repaid $50 million of term loan financing in the third quarter.
CONFERENCE CALL
A live webcast of the conference will be available on the investor relations area of the company’s website, xpo.com/investors. The conference will be archived until November 29, 2025.