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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date
of earliest event reported): September 5, 2023
XPO, INC.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-32172 |
|
03-0450326 |
(State or other jurisdiction of
incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer Identification No.) |
Five American Lane, Greenwich, Connecticut 06831
(Address of principal executive offices)
(855)
976-6951
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
symbol(s) |
|
Name
of each exchange on which registered |
Common
stock, par value $0.001 per share |
|
XPO |
|
New
York Stock Exchange |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). |
|
Emerging growth company ¨ |
|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨ |
Item 7.01 |
Regulation FD Disclosure |
On September 5, 2023, XPO, Inc. (the
“Company”) issued a press release providing certain preliminary operating metrics for its North American
Less-Than-Truckload (“LTL”) segment for August 2023. A copy of the press release is attached as
Exhibit 99.1. In addition, the Company announced that, for the quarter to date period through August, the preliminary damage claims ratio (which is
based on claims payments as a percent of North American LTL revenue) improved from Q2 2023.
The information furnished in this Item 7.01,
including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be deemed to
be incorporated by reference into any filing of the Company under the Exchange Act or the Securities Act of 1933, as amended, except to
the extent that the registrant specifically incorporates any such information by reference.
Item 9.01. |
Financial Statements and Exhibits. |
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 5, 2023 |
XPO, INC. |
|
|
|
By: |
/s/ Kyle Wismans |
|
|
Kyle Wismans |
|
|
Chief Financial Officer |
Exhibit 99.1
![](https://www.sec.gov/Archives/edgar/data/1166003/000110465923098261/tm2325372d1_ex99-1img001.jpg)
XPO
Provides North American LTL Operating Data for August 2023
GREENWICH, Conn. –
September 5, 2023 – XPO (NYSE: XPO), a leading
provider of freight transportation in North America, today reported certain preliminary LTL segment operating metrics for August 2023.
LTL tonnage per day increased 3.1%, as compared with August 2022, attributable to a year-over-year increase of 8.1% in shipments
per day and a decrease of 4.6% in weight per shipment. Actual results for August 2023 may vary from the preliminary results reported
above.
About XPO
XPO, Inc. (NYSE:
XPO) is one of the largest providers of asset-based less-than-truckload (LTL) transportation in North America, with proprietary
technology that moves goods efficiently through its network. Together with its business in Europe, XPO serves approximately 49,000
customers with 562 locations and 37,000 employees. The company is headquartered in Greenwich, Conn., USA. Visit xpo.com
for more information, and connect with XPO on Facebook, X, LinkedIn, Instagram and YouTube.
Forward-looking Statements
This release includes forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
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. These forward-looking statements are based on certain assumptions and analyses
made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as
well as other factors we believe are appropriate in the circumstances.
These forward-looking statements are subject to known and unknown
risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different
from any 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 the risks discussed in our filings with the SEC, and the following: the
effects of business, economic, political, legal, and regulatory impacts or conflicts upon our operations; supply chain disruptions, the
global shortage of certain components such as semiconductor chips, strains on production or extraction of raw materials, cost inflation
and labor and equipment shortages; our ability to align our investments in capital assets, including equipment, service centers, and warehouses
and other network facilities, to our customers’ demands; our ability to implement our cost and revenue initiatives; the effectiveness
of our action plan, and other management actions, to improve our North American LTL business; our ability to benefit from a sale or other
divestiture of one or more business units; our ability to successfully integrate and realize anticipated synergies, cost savings and profit
improvement opportunities with respect to acquired and spun-off companies; goodwill impairment, including in connection with a business
unit sale or other divestiture; fluctuations in currency exchange rates; fuel price and fuel surcharge changes; the expected benefits
of the spin-off of RXO, Inc.; the impact of the prior spin-offs of GXO Logistics, Inc. and RXO, Inc. on the size and business
diversity of our company; our ability to develop and implement suitable information technology systems and prevent failures in or breaches
of such systems; our indebtedness; our ability to raise debt and equity capital; fluctuations in fixed and floating interest rates; our
ability to maintain positive relationships with our network of third-party transportation providers; our ability to attract and retain
qualified drivers; labor matters; litigation; risks associated with our self-insured claims; governmental or political actions; and competition
and pricing pressures. We caution that our operating results for August 2023 are not necessarily indicative of the results that may
be expected for future periods.
All forward-looking statements set forth in this release are qualified
by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized
or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking
statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking
statements except to the extent required by law.
Investor Contact
Brian Scasserra
+1-617-607-6429
brian.scasserra@xpo.com
Media Contact
Karina Frayter
+1-203-484-8303
karina.frayter@xpo.com
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