XPO Logistics News & Resources
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XPO adds capacity in Metro Atlanta region, with 46 LTL dock doors
July 14, 2023
Company officials said that this expansion will add 46 LTL dock doors in Georgia for XPO, which will allow XPO to handle more freight and “provide even better service to customers.” The Norcross service center currently employs more than 120 people, said XPO. And XPO said it expects to hire additional dockworkers and driver sales representatives. The company employs nearly 700 people across seven service centers in Georgia.
With spin-off from XPO Logistics complete, RXO hits the ground running
November 1, 2022
The debut of RXO was made official today, with the spin-off of XPO Logistics truck brokerage and asset-light transportation units now officially complete. RXO began trading today on the New York Stock Exchange, and it is the fourth-largest full truckload broker in the United States. The company has roughly 7,400 employees, with its technology-enabled truck brokerage business connecting shippers across various verticals to around 100,000 independent carriers and more than 1.5 million trucks. RXO’s corporate headquarters are in Charlotte, N.C.
XPO posts strong Q3 earnings ahead of brokerage spin-off
October 31, 2022
Third quarter earnings for Greenwich, Conn.-based XPO Logistics were very strong, according to results issued earlier today. Quarterly revenue—at $3.04 billion—was down 7% annually but was up 3% when excluding third quarter 2021 revenue from its intermodal business, which was sold in March 2022.
XPO issues solid preliminary 3Q earnings results
October 18, 2022
XPO said it expects to report $3.04 billion in quarterly revenue and operating income to come in between $181 million-to-$185 million, with EBITDA pegged at $348 million-to-$352 million.
XPO Logistics rolls out leadership transition plan to take effect after planned spin-off
August 5, 2022
XPO said that Brad Jacobs, Chairman and CEO, will transition to Executive Chairman, as well as Non-Executive Chairman of the spin-off, with acting LTL President and Chief Information Officer Mario Harik will assume the role of XPO CEO, which, at that point, will be a pureplay LTL carrier through the completion of the spin-off and the divestiture of its European business.
XPO turns in record second quarter earnings
August 4, 2022
New records were hit for quarterly revenue—at $3.23 billion—up 1.2% annually (and up 11% when excluding the March sale of its intermodal business), with net income—at $141 million—up 19.9%. Operating income—at $230 million—was up 17%. Adjusted EBITDA—at $405 million—increased 18.5% annually, the highest in XPO’s history, well ahead of previous guidance, at $360 million-to-$370 million. And earnings per share—at $1.81—were up compared to $1.00 for the second quarter of 2021, marking the highest for the second quarter ever for XPO. Free cash...
XPO Logistics rolls out RXO as the name for its planned Q4 spin-off
July 12, 2022
Greenwich, Conn.-based freight transportation services provider XPO Logistics said it has established a new name for its truck brokerage and asset-light transportation units, in the latest step of its spin-off processes over the last several months. The new company will be named RXO, which XPO said will reflect its commitment to providing shippers with “reliability multiplied by outperformance,” with a corporate tagline of “Massive capacity. Cutting edge technology.”
XPO takes next steps for spin-off of its North American truck brokerage business.
June 2, 2022
Greenwich, Conn.-based freight transportation services provider XPO Logistics said earlier today that it has filed a confidential Form 10 registration statement with the United States Securities and Exchange Commission (SEC), regarding the planned spin-off of the company’s North American truck brokerage business. XPO officials said that the spin-off is expected to be completed during the fourth quarter.
XPO posts record Q1 2022 earnings results
May 10, 2022
Quarterly revenue—at $3.47 billion—increased 16% annually an 41% compared to the first quarter of 2020, representing the fifth straight quarter XPO’s revenue has set a new record. EBITDA—at $321 million—also set a new record, while posting a 15% annual gain (full-year 2022 EBITDA guidance issued by XPO now stands at $1.35 billion-to-$1.39 billion), and adjusted earnings per share—at $1.25—marked the highest for any first quarter in company history, topping Wall Street estimates, at $0.93. Operating income—at $625 million—was up 22%. XPO said that...
Top 50 Trucking Carriers 2022: Pedal to the metal
April 1, 2022
Leading carrier executives say a key strategy for staying on top is creating a company culture that “sets the tone for everything and everybody.” Investing in new equipment, driver training and salaries doesn’t hurt either.
XPO Logistics announces it is selling its intermodal business to STG Logistics for $710 million
March 25, 2022
Soon after signaling its intent to divest its intermodal business, as part of a move geared towards creating two pure-play publicly traded companies in less-than-truckload (LTL) and truckload brokerage, as well as achieve an investment grade rating, Greenwich, Conn.-based XPO Logistics said today it has sold its intermodal business to Chicago-based STG Logistics, an asset-light provider of complex and highly customized logistics and transportation services focused on the global supply chain, for roughly $710 million.
XPO rolls out plan to spin-off LTL and brokerage businesses into two separate companies
March 9, 2022
Taking further steps to “unlock value” for its stakeholders, Greenwich, Conn.-based truckload and less-than-truckload (LTL) services provider XPO Logistics said yesterday it plans to spin off its North American truck brokerage from its less-than-truckload business, as well as its related asset-light businesses. What’s more, XPO also announced it plans to divest its XPO Europe business and is also in exclusive negotiations with a buyer for the sale of its North American intermodal business.
GXO Logistics’ potential acquisition of Clipper Logistics plc is a possibility
February 23, 2022
Following a news leak, which indicated that Greenwich, Conn.-based global contract logistics services provider GXO Logistics was acquiring London-based Clipper Logistics plc, a provider of omni-channel retail logistics services, the companies said on February 20 that their respective boards announced in a joint statement “they have reached agreement on the key terms of a possible cash and share offer for Clipper by GXO.”
XPO Logistics posts record-breaking fourth quarter earnings results
February 8, 2022
Quarterly revenue—at $3.4 billion—increased 14% annually and was up 30% compared to 2010, representing the fourth straight quarter XPO’s revenue has set a new record, topping Wall Street estimates, of $3.269 billion. Adjusted earnings per share also set a new company record, at $1.34, and adjusted EBITDA, at $323 million, represented its highest fourth quarter level in company history, while posting a 15% annual gain, beating analysts’ estimates of $302 million, and setting a quarterly EBITDA record for the sixth quarter in a row.
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