XPO is a freight transportation company focused on less-than-truckload (LTL) shipping in North America, with a secondary business in European freight. In LTL, XPO picks up freight from shippers, consolidates it at service centers, and delivers it on a day-definite basis — serving customers whose shipments are too large for parcel but too small to fill a full truck. XPO's North American LTL network covers roughly 99% of U.S. zip codes and serves about 37,000 shippers across industries including manufacturing, retail, and food and beverage. North America generates about 59% of total revenue. XPO's European segment offers a broader set of freight services — including truckload brokerage, LTL, warehousing, and last-mile delivery — primarily in France, Iberia, and the U.K., but XPO is in the process of divesting this business to become a pure-play North American LTL carrier. XPO earns revenue by charging shippers per unit of freight, with yield (revenue per hundredweight) as the primary profitability driver. The LTL model has high fixed costs, so volume growth drives strong operating leverage. XPO's growth plan centers on closing a pricing gap versus best-in-class peers through better service, growing its mix of premium and SMB customers, insourcing linehaul trucking, and deploying AI tools for route optimization and labor planning. XPO has invested heavily in network capacity since 2021, adding service center doors, tractors, and trailers, and is now shifting toward higher free cash flow generation and debt reduction.