Filing Flows › XPO (XPO) › Q2 2026 › vs Q1 2026
XPO (XPO) Q2 2026 vs Q1 2026 (quarter over quarter)
XPO's revenue rose $259M (+12%) from $2.1B in Q1 2026 to $2.4B in Q2 2026. Operating margin 11.5% against 8.3% (+3.2 pts).
XPO, Q2 2026: revenue $2.4B (+13% year over year), operating margin 11.5%, net earnings $162M, operating cash flow $308M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 11.5% | 8.3% | +3.2 pts |
| Net margin | 6.9% | 4.8% | +2.1 pts |
| Free cash flow margin | 7.7% | 3.4% | +4.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $2.4B | $2.1B | $259M | +12% |
| Operating profit | $271M | $174M | $97.0M | +56% |
| Costs & expenses | $2.1B | $1.9B | $162M | +8% |
| Pre-tax earnings | $218M | $124M | $94.0M | +76% |
| Other expense, net | $53.0M | $50.0M | $3.0M | +6% |
| Net earnings | $162M | $101M | $61.0M | +60% |
| Income tax | $56.0M | $23.0M | $33.0M | +143% |
| Depreciation & amortization | $134M | $131M | $3.0M | +2% |
| Share-based compensation | $17.0M | $13.0M | $4.0M | +31% |
| Working capital & other | $5.0M | $62.0M | −$57.0M | -92% |
| Operating cash flow | $308M | $183M | $125M | +68% |
| Free cash flow (OCF − capex) | $181M | $72.0M | $109M | +151% |
| Capital expenditures | $127M | $111M | $16.0M | +14% |
Questions
How much did XPO's revenue grow quarter over quarter in Q2 2026?
XPO's revenue rose $259M (+12%) from $2.1B in Q1 2026 to $2.4B in Q2 2026. Operating margin 11.5% against 8.3% (+3.2 pts).