Why Freight Operator XPO Shares Are Diving Premarket Thursday

XPO, Inc. (NYSE:XPO) shares are trading lower premarket today. On Wednesday, the company stated that August 2024 LTL tonnage per day fell by 4.6% compared to August 2023.

The company says this was due to a 4.5% decline in daily shipments and a 0.1% drop in weight per shipment.

Mario Harik, chief executive officer of XPO, stated, “In August, we managed our variable costs effectively in a soft demand environment, ...