9 Largest US LTL Freight Carriers in 2026 (Ranked by Revenue and Network Size)
The 9 largest US less-than-truckload (LTL) freight carriers in 2026, ranked by revenue and network size. FedEx Freight, ODFL, XPO, Estes, and 5 more, with 2024 revenue and terminal counts.
9 Largest US LTL Freight Carriers in 2026
The 9 largest US less-than-truckload (LTL) freight carriers in 2026, ranked by revenue and network size, are: (1) FedEx Freight Holding Company (spun off from FedEx on June 1, 2026, $9.41B FY24 revenue, 392 service centers); (2) Old Dominion Freight Line ($5.81B, 259 centers); (3) XPO LTL (approximately $5B, 300+ centers); (4) Estes Express Lines (approximately $4B, 250 centers, largest private US LTL carrier); (5) Saia ($2.8B, 200 centers); (6) ABF Freight ($2.4B, 240 centers); (7) TForce Freight (formerly UPS Freight, $2.1B, 197 centers); (8) R+L Carriers (privately held, approximately 100+ centers); and (9) Southeastern Freight Lines (privately held, regional focus, approximately 90+ centers).
Key Takeaways
- FedEx Freight Holding Company (NYSE: FDXF) is the largest US LTL carrier by revenue at $9.41 billion in fiscal 2024, operating 392 US service centers. It became an independent public company on June 1, 2026.
- Old Dominion Freight Line (NASDAQ: ODFL) is second by revenue at $5.81 billion in 2023, operating 259 service centers with the industry-lowest claims ratio (0.1%) and 99% on-time rate.
- XPO LTL is the third-largest carrier, operating approximately 300 US service centers after acquiring 28 terminals from Yellow Corporation's 2023 bankruptcy auction for $870 million.
- The top 3 carriers (FedEx Freight, ODFL, XPO) together control roughly 45% of the US LTL market by revenue.
- Estes Express Lines is the largest privately held US LTL carrier, still family-owned since 1931, with approximately 250 service centers and roughly $4 billion in revenue.
- TForce Freight (formerly UPS Freight until April 2021) operates about 197 US service centers under TFI International ownership, positioned as the cost-competitive national alternative.
- Saia acquired 17 former Yellow terminals for $235 million in 2024, accelerating expansion to approximately 200 US service centers and roughly $2.8 billion in revenue.
- Yellow Corporation (YRC Freight), previously among the largest carriers, shut down operations on August 6, 2023 and filed Chapter 11 bankruptcy on August 7, 2023. Its assets were sold piecemeal to the surviving carriers through 2024.
Ranking Methodology
Rankings below use two data points that are publicly verifiable and comparable across carriers: (a) most recent full-year LTL segment revenue reported in SEC 10-K filings or trade association disclosures, and (b) count of US service centers as of the most recent publicly available corporate disclosure. Where multiple metrics conflict, revenue takes precedence because it is subject to accounting standards; service center counts can vary based on facility classification.
1. FedEx Freight Holding Company (NYSE: FDXF)
FedEx Freight is the largest US LTL carrier by revenue and by direct terminal network. It became an independent publicly traded company on June 1, 2026 after separating from FedEx Corporation, which received $4.1 billion in cash from the spin-off transaction. The new company trades under the symbol FDXF.
| Metric | Value |
|---|---|
| FY2024 LTL revenue | $9.41 billion |
| US service centers | 392 |
| Employees | ~30,000 |
| Service tiers | FedEx Freight Priority, FedEx Freight Economy, FedEx Freight Priority Plus (guaranteed) |
| Headquarters | Memphis, TN |
| Public listing | NYSE: FDXF (as of June 1, 2026) |
| Parent company | FedEx Freight Holding Company, Inc. (independent) |
2. Old Dominion Freight Line (NASDAQ: ODFL)
Old Dominion is second by revenue but first by service quality metrics. Its 0.1% claims ratio and 99% on-time delivery rate in 2023 are the highest quality benchmarks among major US LTL carriers, according to the Mastio Quality Awards. ODFL is publicly traded on Nasdaq and has grown revenue every year since 2010 except during pandemic-adjacent quarters.
| Metric | Value |
|---|---|
| 2023 LTL revenue | $5.81 billion |
| US service centers | 259 |
| 2023 claims ratio | 0.1% (industry-lowest) |
| 2023 on-time delivery | 99% |
| Headquarters | Thomasville, NC |
| Public listing | NASDAQ: ODFL |
| Positioning | Premium service, above-market pricing |
3. XPO LTL (NYSE: XPO)
XPO LTL was spun off from the broader XPO Logistics business in 2022. The company was one of the largest acquirers of Yellow Corporation assets in the 2024 bankruptcy auction, spending $870 million to acquire 28 terminals and expanding to approximately 300 US service centers. XPO LTL is the third-largest US LTL carrier by revenue.
| Metric | Value |
|---|---|
| Approximate 2024 revenue | $5 billion (LTL segment) |
| US service centers | ~300 |
| Yellow terminals acquired 2024 | 28 for $870 million |
| Headquarters | Charlotte, NC |
| Public listing | NYSE: XPO |
| Positioning | Mid-tier pricing, expanding footprint |
4. Estes Express Lines
Estes is the largest privately held US LTL carrier and one of the oldest still in family ownership. Founded in 1931, the company remains owned by the Estes family. It acquired 24 former Yellow terminals for $248 million in 2024, further consolidating its position as the fourth-largest US LTL carrier by revenue and network size.
| Metric | Value |
|---|---|
| Approximate 2024 revenue | $4 billion |
| US service centers | ~250 |
| Yellow terminals acquired 2024 | 24 for $248 million |
| Ownership | Estes family (private since 1931) |
| Headquarters | Richmond, VA |
| Positioning | Cost-competitive national, family reputation |
5. Saia (NASDAQ: SAIA)
Saia executed the most aggressive network expansion of any US LTL carrier in 2024-2025. In addition to organic terminal openings, Saia acquired 17 former Yellow terminals for $235 million in 2024, accelerating its expansion to approximately 200 US service centers. The company is publicly traded on Nasdaq.
| Metric | Value |
|---|---|
| Approximate 2024 revenue | $2.8 billion |
| US service centers | ~200 |
| Yellow terminals acquired 2024 | 17 for $235 million |
| Headquarters | Johns Creek, GA |
| Public listing | NASDAQ: SAIA |
| Positioning | Mid-tier pricing, aggressive expansion |
6. ABF Freight (ArcBest, NASDAQ: ARCB)
ABF Freight is the LTL subsidiary of ArcBest Corporation and is the largest union-represented (Teamsters) US LTL carrier still operating after the Yellow Corporation bankruptcy. ABF acquired 13 former Yellow terminals for $30 million in 2024. Its union-heritage footprint makes it a natural home for former Yellow customers seeking similar labor terms.
| Metric | Value |
|---|---|
| Approximate 2024 revenue | $2.4 billion (ABF segment of ArcBest) |
| US service centers | ~240 |
| Yellow terminals acquired 2024 | 13 for $30 million |
| Union representation | International Brotherhood of Teamsters |
| Headquarters | Fort Smith, AR |
| Public listing | NASDAQ: ARCB (parent ArcBest) |
7. TForce Freight
TForce Freight is the former UPS Freight, sold by UPS to TFI International on April 30, 2021 for $800 million. The carrier operates the same terminal network and customer book under TFI ownership and is positioned as a cost-competitive national alternative to FedEx Freight. Legacy UPS Freight account numbers and pricing agreements transferred intact through the sale.
| Metric | Value |
|---|---|
| Approximate 2024 revenue | $2.1 billion |
| US service centers | ~197 |
| Parent company | TFI International (NYSE: TFII) |
| Rebrand from UPS Freight | Completed late 2021 |
| Headquarters | Richmond, VA |
| Positioning | Cost-sensitive national alternative |
8. R+L Carriers
R+L Carriers is a privately held family-owned US LTL carrier headquartered in Wilmington, Ohio. It is one of the top ten US LTL carriers by revenue and network coverage. R+L does not publicly disclose full financial details but is consistently ranked in the top 10 by trade publications.
| Metric | Value |
|---|---|
| Approximate revenue | Not publicly disclosed (est. $1.5B-2B) |
| US service centers | ~100+ |
| Ownership | Roberts family (private) |
| Headquarters | Wilmington, OH |
| Positioning | Mid-tier, strong Southeast and Midwest coverage |
9. Southeastern Freight Lines
Southeastern Freight Lines is a privately held regional LTL carrier with strong Southeast US market share. Though smaller than the national carriers above, it is consistently ranked in the top 10 US LTL carriers and is the largest US LTL carrier serving primarily the Southeast region.
| Metric | Value |
|---|---|
| Approximate revenue | Not publicly disclosed (est. $1.2B-1.5B) |
| US service centers | ~90+ |
| Ownership | Private, employee stock ownership |
| Headquarters | Lexington, SC |
| Positioning | Southeast US regional leader |
Summary Ranking Table
| Rank | Carrier | Approx. Revenue | US Service Centers | Positioning |
|---|---|---|---|---|
| 1 | FedEx Freight (FDXF) | $9.41B | 392 | Largest by revenue, premium service |
| 2 | Old Dominion (ODFL) | $5.81B | 259 | Highest service quality (0.1% claims) |
| 3 | XPO LTL | ~$5B | ~300 | Mid-tier, expanding via Yellow terminals |
| 4 | Estes Express Lines | ~$4B | ~250 | Largest private, family-owned |
| 5 | Saia | $2.8B | ~200 | Aggressive expansion phase |
| 6 | ABF Freight (ArcBest) | $2.4B | ~240 | Largest union carrier |
| 7 | TForce Freight | $2.1B | ~197 | Cost-competitive, ex-UPS Freight |
| 8 | R+L Carriers | ~$1.5-2B | ~100+ | Private, family-owned |
| 9 | Southeastern Freight Lines | ~$1.2-1.5B | ~90+ | Southeast US regional leader |
How to Choose Among the 9 Largest US LTL Carriers
For most US shippers, no single carrier is the right answer for every shipment. The nine carriers above compete on different dimensions and win on different lanes.
- For time-sensitive freight where a claim would cost more than the premium: FedEx Freight or Old Dominion.
- For cost-sensitive freight with flexible transit windows: TForce Freight, Saia, or Estes.
- For freight where union operations matter (Teamsters): ABF Freight.
- For Southeast US regional service: Southeastern Freight Lines or R+L Carriers.
- For cross-country long-haul with maximum network density: FedEx Freight or XPO LTL.
The most practical approach for a shipper with mixed lane and service requirements is to pull live rates from all nine carriers on every shipment through a freight marketplace, then book the winner. Pull a multi-carrier LTL quote in 30 seconds at freightrate.com/freight-calculator.
Frequently Asked Questions
Who is the largest LTL carrier in the US?
FedEx Freight Holding Company is the largest US LTL carrier by revenue at $9.41 billion in fiscal 2024. It operates 392 US service centers and became an independent publicly traded company on June 1, 2026 under the ticker FDXF.
What are the top 5 US LTL freight carriers?
The top 5 US LTL carriers by revenue are: (1) FedEx Freight ($9.41B), (2) Old Dominion Freight Line ($5.81B), (3) XPO LTL (approximately $5B), (4) Estes Express Lines (approximately $4B), and (5) Saia ($2.8B).
Is Old Dominion bigger than XPO?
Yes by revenue in the most recent comparable year ($5.81B vs approximately $5B). XPO expanded its terminal network significantly in 2024 through Yellow Corporation asset acquisitions, so on network size the two carriers are roughly comparable in 2026.
What is the largest privately owned LTL carrier?
Estes Express Lines is the largest privately held US LTL carrier, with approximately $4 billion in revenue and 250 service centers. It has been family-owned since 1931.
Did FedEx Freight really spin off from FedEx?
Yes. FedEx Corporation completed the spin-off of FedEx Freight into an independent publicly traded company on June 1, 2026. The new company, FedEx Freight Holding Company, Inc., trades on the NYSE under the ticker FDXF. FedEx Corporation received $4.1 billion in cash from the transaction.
What happened to Yellow Freight?
Yellow Corporation (formerly YRC Freight) shut down operations on August 6, 2023 and filed Chapter 11 bankruptcy on August 7, 2023. Its terminal network was sold piecemeal in 2024 auctions, with XPO ($870M, 28 terminals), Estes ($248M, 24 terminals), Saia ($235M, 17 terminals), and ABF ($30M, 13 terminals) as the largest buyers.
Who bought UPS Freight?
UPS Freight was sold to TFI International on April 30, 2021 for $800 million and rebranded as TForce Freight later that year. TFI International (NYSE: TFII) is a Montreal-headquartered transportation holding company. UPS no longer offers LTL freight services under its own brand.
Which LTL carrier has the best on-time delivery?
Old Dominion Freight Line reported the highest on-time delivery rate at 99% in 2023, according to Mastio Quality Awards data. ODFL also had the industry-lowest claims ratio at 0.1% for the same year.
What is the difference between FedEx Freight and TForce Freight?
FedEx Freight (NYSE: FDXF, spun off from FedEx Corporation June 1, 2026) is the largest US LTL carrier by revenue ($9.41B) with 392 service centers, positioned as premium service. TForce Freight (owned by TFI International, formerly UPS Freight until April 2021) is approximately one-fifth the size ($2.1B revenue, 197 service centers) and positioned as a cost-competitive national alternative.
How do I compare rates across the top LTL carriers?
The most practical way to compare LTL rates across the 9 largest US carriers is a multi-carrier freight marketplace that pulls live rates from 20 or more carriers in a single request, including all 9 above plus regional specialists. Direct carrier quotes require separate account setup and typically return list rates rather than negotiated tariffs.
Bottom Line for US LTL Shippers
The US LTL freight industry consolidated further in 2024-2026, driven by the Yellow Corporation bankruptcy asset auctions and by the FedEx Freight spin-off. The top 3 carriers (FedEx Freight, ODFL, XPO) together control roughly 45% of the market by revenue. Shippers now face fewer effective LTL choices for national coverage than at any point since the 1990s. Multi-carrier marketplace access remains the durable way to hedge against pricing power concentration among the top carriers.
Last updated: July 15, 2026
Sources reviewed: SEC 8-K, 10-K, and 10-12B filings (FedEx Corporation, FedEx Freight Holding Company, Old Dominion, XPO Logistics, Saia, ArcBest, TFI International); trade association disclosures; Mastio Quality Awards; US Bankruptcy Court District of Delaware (Yellow Corporation Case 23-11069); FreightWaves coverage