Less-than-truckload carrier Estes Express Lines expanded its door count nearly 9% last year, opening four new terminals, expanding four locations and relocating 12 facilities. The company said Thursday it will have over 14,000 doors by the end of 2026. It expanded network capacity by 1,038 doors in 2025, an 8.7% year-over-year increase. Enhancements to its more than 300-terminal network included Buffalo, New York (171 doors) and Tracy, California (167 doors), which are now some of its largest service cent ...

Core Insights - XPO's third-quarter results exceeded expectations, driven by efficiency initiatives and higher yields in its less-than-truckload segment [1] Financial Performance - Adjusted earnings per share (EPS) for the quarter were reported at $1.07, surpassing consensus by 5 cents and matching the previous year's result [2] - Consolidated revenue increased by 3% year-over-year to $2.11 billion, exceeding the consensus estimate of $2.07 billion [3] Less-Than-Truckload Segment - Less-than-truckload revenue rose slightly year-over-year to $1.26 billion, with a 6% decline in tonnage per day offset by a 6% increase in revenue per hundredweight [4] - Tonnage decreased despite easing prior-year comparisons, but improved freight mix contributed to higher yields, with yield (excluding fuel surcharges) up 12.6% on a two-year stacked comparison [5] - The adjusted operating ratio for the LTL unit was reported at 82.7%, reflecting a 150 basis point improvement year-over-year and 20 basis points better than the second quarter [8] European Transportation Segment - The European transportation segment saw a 7% year-over-year revenue increase to $857 million, but reported an operating loss of $2 million, marking an $8 million year-over-year swing [9]

Core Insights - Old Dominion Freight Line reported third-quarter earnings per share of $1.28, exceeding consensus by 6 cents but down 15 cents year-over-year [1] - Revenue for the quarter was $1.41 billion, slightly above consensus but 4% lower compared to the previous year [2] - The company experienced a 9% year-over-year decline in total tonnage, with an 8% drop in shipments and a 1.2% decrease in weight per shipment [3] Financial Performance - The operating ratio was 74.3%, which is 160 basis points worse year-over-year but 30 basis points better than the second quarter [4] - Cost per shipment increased by 6.2%, while revenue per shipment rose by only 3.4%, resulting in a negative spread of 280 basis points [4] - The company’s management had previously indicated potential for 80 to 120 basis points of sequential deterioration in operating ratio, which was better than expected [4] Market Reaction - Shares of Old Dominion were up 4.2% in pre-market trading following the earnings report [6] - The company’s CEO emphasized a strong long-term financial strategy and readiness to respond to future demand increases [6]