GREENWICH – The asset-based, less-than-truckload (LTL) freight transportation trucking logistics company XPO announced last week fourth quarter net income for 2025 fell 22.4% compared to the same period a year ago.
Net income was $59 million for the fourth quarter, compared with $76 million for the same period in 2024. The year-over-year decrease in operating income and net income includes a $21 million reduction in real estate gains and a $23 million increase in restructuring expense primarily from previously granted equity awards related to the transition in board leadership. This is reflected in diluted earnings per share of 50 cents for the fourth quarter, compared with 63 cents for the same period in 2024.
Operating income was $143 million for the fourth quarter, compared with $148 million for the same period in 2024. Adjusted net income, a non-GAAP financial measure, was $105 million for the fourth quarter, compared with $107 million for the same period in 2024.
“We concluded a year of strong execution with another quarter of profitable growth,” said Mario Harik, the company’s chair and CEO. “In the fourth quarter, we increased adjusted diluted EPS year-over-year by 18% and adjusted EBITDA by 11%, excluding real estate gains. These results reflect our focus on service excellence and continuous improvement of the business.”
In North American LTL, the company grew adjusted operating income year-over-year by 14% and improved its adjusted operating ratio by 180 basis points to 84.4%, outperforming seasonality.
Fourth quarter highlights
For the fourth quarter 2025, the company generated revenue of $2.01 billion, compared with $1.92 billion for the same period in 2024. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), a non-GAAP financial measure, was $312 million for the fourth quarter, compared with $303 million for the same period in 2024.
The company generated $226 million of cash flow from operating activities in the fourth quarter and ended the year with $310 million of cash and cash equivalents on hand, after completing $84 million of net capital expenditures, $65 million of common stock repurchases, and $65 million of term loan repayments.
