Why XPO Stock Soared This Week
Shares of XPO Logistics (NYSE: XPO) were surging this week after the less-than-truckload (LTL) transportation specialist named a new chief operating officer, poaching Dave Bates from Old Dominion Freight Line (NASDAQ: ODFL), the company considered to be the best-in-class operator in LTL. In 2022, Old Dominion reported an operating ratio of 70.6%, a 290-basis-point improvement from the year before, even in a high-inflation environment.