XPO Inc., a leading provider of freight transportation in North America, has appointed Jonas Svedlund as chief legal officer, effective immediately. The appointment strengthens XPO’s executive leadership team as the company continues to scale its asset-based less-than-truckload (LTL) operations across North America and Europe. Svedlund will lead the company’s legal and compliance functions, with specific responsibility for corporate governance and commercial matters.

Mario Harik, chairman and chief executive officer of XPO, highlighted Svedlund’s strategic value to the organization. "Jonas is an accomplished executive who will help advance our strategic priorities," Harik said. "He brings deep legal expertise and a proven ability to partner with organizational leaders at every level. He is an excellent addition to our leadership team and I’m pleased to welcome him to XPO."

Executive Background

Svedlund brings extensive experience in corporate law from major industrial and scientific sectors. Most recently, he served as deputy general counsel for Thermo Fisher Scientific, where he oversaw the company’s corporate and commercial legal functions.

Prior to his role at Thermo Fisher, Svedlund spent more than a decade in various executive roles at General Electric. During his tenure at GE, he served as general counsel for two separate business units within the conglomerate. He began his legal career as a corporate attorney with the law firm Sullivan & Cromwell.

Svedlund holds a juris doctor degree from Harvard Law School and a bachelor’s degree from the University of California, Berkeley.

Company Overview

XPO operates as a leader in asset-based LTL freight transportation. The company moves 16 billion pounds of freight per year, supported by proprietary technology platforms. XPO serves 55,000 customers through 586 locations, employing 38,000 people across North America and Europe. The company is headquartered in Greenwich, Connecticut, and is listed on the New York Stock Exchange under the ticker symbol XPO.

XPO Inc delivered robust second quarter 2026 financial results, reporting net income of $162 million, up 52.8% from $106 million in the same period of 2025. The Greenwich, Connecticut-based less-than-truckload (LTL) carrier generated total revenue of $2.36 billion, a 13.2% year-over-year increase, driven by yield growth and volume expansion in its North American segment. This performance underscores the company’s operational leverage and margin expansion capabilities during a strengthening freight demand cycle.

Diluted earnings per share (EPS) reached $1.36, compared to $0.89 in the prior year quarter. On a non-GAAP basis, adjusted diluted EPS surged 61.9% to $1.70 from $1.05. Operating income climbed 36.9% to $271 million, while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 27.6% to $434 million. The results reflect improved service quality, with a damage claims ratio below 0.2%, and productivity gains from AI implementation across the network.

Segment Performance

The North American Less-Than-Truckload segment was the primary growth engine, with revenue increasing 15.2% to $1.43 billion. Operating income for the segment jumped 43.2% to $285 million. Key operational metrics showed yield excluding fuel rising 4.4% year-over-year, while shipments per day increased 2.8%. The segment’s adjusted operating ratio improved by 300 basis points to a record 79.9%. Conversely, the European Transportation segment reported an operating loss of $6 million, compared to an income of $11 million in the prior year, primarily due to restructuring costs. However, its adjusted EBITDA grew 9.1% to $48 million.

Cash Flow and Balance Sheet

XPO generated $308 million in cash flow from operating activities in the quarter. The company ended the period with $298 million in cash and cash equivalents. Capital allocation included $101 million in net capital expenditures, $70 million in common stock repurchases, and $70 million in term loan repayments. Total assets stood at $8.33 billion as of June 30, 2026, with long-term debt at $3.05 billion.

What the Numbers Show

The divergence between GAAP operating income and adjusted metrics highlights the impact of restructuring and integration costs. While GAAP operating income rose 36.9%, adjusted EBITDA growth of 27.6% suggests that core operational profitability is expanding steadily, albeit slightly slower than the headline top-line revenue growth of 13.2%. The significant improvement in the North American LTL adjusted operating ratio to 79.9% indicates successful cost containment and yield management, which is critical for sustaining margins in the competitive LTL sector. The European segment’s GAAP loss, despite positive adjusted EBITDA, signals ongoing investment in restructuring rather than organic decline.