Xpo Inc Stock Price, News & Analysis

XPO Logistics, Inc. (NYSE: XPO) has appointed Nina Reinhardt as chief communications officer for RXO, its upcoming spin-off focused on brokered transportation. Reinhardt transitions from Honeywell, where she held various leadership roles over 18 years. The spin-off is expected to finalize in Q4 2022, creating two distinct companies poised for growth. Drew Wilkerson, the new CEO of RXO, highlighted Reinhardt's capabilities in enhancing brand reputation and driving shareholder value. The spin-off will separate XPO’s asset-light brokered transportation business from its asset-based services.

XPO Logistics has announced the appointment of Mario Harik as the new president of North American less-than-truckload (LTL) and future CEO, succeeding Brad Jacobs post spin-off of its tech-enabled brokerage platform. Harik, previously acting LTL president, has improved the company's operating efficiency and pricing significantly. For 2021, XPO's North American LTL generated $4.1 billion in revenue and $618 million in operating income. The company aims to triple its adjusted EBITDA by year-end 2022, focusing on enhancing its national LTL service capabilities.

XPO Logistics reported strong second-quarter 2022 results, with revenue of $3.23 billion and a net income of $141 million, reflecting year-over-year increases. Adjusted EBITDA reached a record $405 million, showing substantial growth from $330 million a year earlier. The North American LTL operating ratio improved to 82.5%, and the company achieved a 16% volume growth in truck brokerage. XPO raised its 2022 outlook for adjusted EBITDA to $1.40 billion - $1.43 billion, demonstrating confidence in ongoing business momentum.

XPO Logistics has been appointed the official transport partner for the inaugural Tour de France Femmes avec Zwift, taking place from July 24-31, 2022. The company will utilize 14 drivers to move 200 tons of cargo over 1,000 kilometers. Simultaneously, 58 drivers are managing 570 tons of cargo for the ongoing Tour de France, covering 3,328 kilometers. XPO aims to support women's athletics and inspire more women to pursue careers in transportation. The dedicated team is trained in emissions-reduction and safety protocols for efficient operations during the event.

XPO Logistics (NYSE: XPO) announced a new identity for its planned spin-off, named RXO, aimed at becoming a leader in tech-enabled brokerage services. RXO emphasizes reliability multiplied by outperformance and will focus on truck brokerage as a key component. The spin-off is expected to be completed in Q4 2022, creating two independent publicly traded companies. Financial advisors including BofA Securities and Goldman Sachs have been retained for this process. The RXO brand will launch with a robust digital platform to meet automation demands in the transportation market.

XPO Logistics, Inc. (NYSE: XPO) will host its second quarter conference call on August 5, 2022, at 8:30 a.m. ET. Results will be disclosed after market close on August 4. Interested parties can access the call via toll-free numbers or through a live webcast at www.xpo.com/investors. A replay will be available until September 5, 2022. XPO is a leading provider of freight transportation services, specializing in less-than-truckload (LTL) and truck brokerage, utilizing advanced technology to optimize supply chain efficiency.