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XPO (XPO) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · XPO (XPO) Q3 2026 earnings results →
Q3 2026 Revenue up 12% year over year to $2.4B · 8¢ of every $1 of revenue kept as net profit · operating margin 12.1%
XPO made $2.4B in Q3 2026 (+12% Y/Y). Operating margin 12.1%, net earnings $181M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $2.4B in Q3 2026, up 12% year over year and up 1% from the previous quarter.
Operating profit was $0.29B, a 12.1% margin (up 4.4 points year over year). Of the extra revenue versus Q3 2025, 47% reached operating profit, above the 8% margin then. Total costs grew 7% against revenue growth of 12%. Net earnings were $0.18B, up 121% year over year. The effective tax rate was 24.9%.
Operating cash flow was $0.41B (up 12% year over year), 229% of net earnings. Non-cash charges added back $0.13B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $0.13B left free cash flow of $0.28B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $2.4B | +12% | 12.1% | $181M | $415M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $2.4B | +13% | 11.5% | $162M | $308M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $2.1B | +7% | 8.3% | $101M | $183M |
| Q4 2025 | 10-K | Feb 5, 2026 | $2.0B | +5% | 7.1% | $59.0M | $226M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $2.1B | +3% | 7.8% | $82.0M | $371M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $2.1B | 0% | 9.5% | $106M | $247M |
| Q1 2025 | 10-Q | Apr 30, 2025 | $2.0B | -3% | 7.7% | $69.0M | $142M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About XPO
XPO, Inc., together with its subsidiaries, is a leading provider of freight transportation services, with company-specific avenues for value creation. We use our proprietary technology to move goods efficiently through supply chains for approximately 55,000 customers in North America and Europe. As of December 31, 2025, we had approximately 37,000 employees and 592 locations in 17 countries. Our company has two reportable segments: North American Less-Than-Truckload (“LTL”), the largest component of our business; and European Transportation.
In its own words, from its 10-K, filed Feb 5, 2026.
XPO against its Transportation Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +12% against the peers' median +12%. Operating margin: 12.1% against the peers' median 12.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| XPO XPO | Q3 2026 | $2.4B | +12% | 12.1% |
| BKNG Booking Holdings | Q3 2026 | $8.9B | -1% | 38.4% |
| EXPE Expedia Group | Q3 2026 | $4.9B | +12% | 26.9% |
| GXO GXO Logistics | Q3 2026 | $3.6B | +6% | 2.7% |
| RXO RXO | Q3 2026 | $1.9B | +32% | 0.9% |
| GMRS GMR Solutions | Q2 2026 | $1.5B | +3% | 3.8% |
| GBTG Global Business Travel Group | Q2 2026 | $870M | +38% | 2.8% |
| GATX Gatx | Q3 2026 | $598M | +36% | 32.2% |
| LIND Lindblad Expeditions Holdings | Q3 2026 | $269M | +12% | 15.9% |
Source: XPO 10-Q on SEC EDGAR · CIK 1166003 · Transportation Services
13F: who owns XPO and who is buying
More on XPO
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results