Welcome to our dedicated page for Xpo news (Ticker: XPO), a resource for investors and traders seeking the latest updates and insights on Xpo stock.
XPO, Inc. reports news centered on asset-based less-than-truckload freight transportation, with emphasis on its North American LTL network, pricing, shipment trends, tonnage, operating ratio and service performance. Company updates also cover quarterly earnings, adjusted profitability measures, customer-focused freight operations and the use of proprietary technology and AI to manage linehaul, dock, pickup and delivery activity.
Recurring XPO announcements include preliminary LTL operating metrics, earnings conference calls, investor presentation materials, safety and trucking-industry recognition, and community or workforce initiatives tied to its freight transportation business in North America and Europe.
XPO Logistics has announced its second annual shoe drive, starting on Giving Tuesday, November 30, to benefit Soles4Souls. Over 270 XPO locations in North America will collect new and lightly used shoes throughout December. Additionally, for every pair of shoes collected, XPO will make a cash donation to Soles4Souls. The initiative aims to help break the cycle of poverty for those in need, showcasing XPO's commitment to social responsibility and community support.
On November 18, 2021, XPO Logistics announced the appointment of Swati Sharma as senior vice president and treasurer, effective immediately. She will manage the company's capital structure, liquidity, and financial risk, succeeding Ravi Tulsyan, who became chief financial officer in September. Sharma has over 15 years of experience with public companies, holding roles such as CFO at Avenues: The World School and treasurer at Amtrak. Ravi Tulsyan expressed confidence in her ability to maintain a strong balance sheet and support growth investments.
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XPO Logistics reported record revenue of $3.27 billion for Q3 2021, up from $2.68 billion in Q3 2020. Net income for the quarter was $21 million, down from $28 million year-over-year. Adjusted EBITDA increased to $307 million, reflecting strong performance in the truck brokerage sector, where revenue grew by 62%. The company updated its full-year 2021 guidance, raising the adjusted EBITDA expectation to between $1.228 billion and $1.233 billion. Strategic investments in LTL capacity and a digital platform underscore growth efforts amidst challenges in labor and equipment shortages.
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XPO Logistics has expanded its partnership with Cainiao Network, the logistics arm of Alibaba Group, enhancing its full truckload services in Spain. This agreement, a continuation of their two-year collaboration, aims to optimize Cainiao's operations using the XPO Connect digital platform for improved visibility and sustainability. XPO’s managing director expressed pride in the collaboration, highlighting support for Cainiao’s sales growth and environmental goals as they prepare for peak season.
XPO Logistics opened a new 150,000-square-foot less-than-truckload (LTL) service center in Chicago Heights, which includes 264 dock doors to enhance operational capacity. The facility is anticipated to improve customer service across the LTL network and bolster the local economy, creating over 200 jobs. Key features include a focus on employee satisfaction with competitive benefits, a strong safety record, and a commitment to continuous improvement. XPO is a top-three LTL provider in North America with 291 centers nationwide.
XPO Logistics (NYSE: XPO) will support five Susan G. Komen 3-Day fundraising walks, resuming in November 2021 after COVID-19 disruptions. The events will take place in San Diego (Nov 19-21), New England (Aug 26-28, 2022), Chicago (Sep 16-18, 2022), Dallas/Fort Worth (Nov 4-6, 2022), and San Diego again (Nov 18-20, 2022). XPO will also provide storage for Komen supplies and donate proceeds from co-branded merchandise in October to the organization. Josephine Berisha, XPO's CHRO, expressed pride in collaborating with Komen, emphasizing its importance to employees.
XPO Logistics (NYSE: XPO) will host its third quarter conference call on November 3, 2021, at 8:30 a.m. ET, following the release of its results after market close on November 2.
Call-in information includes a toll-free line for the US/Canada at 1-877-269-7756, with international callers using +1-201-689-7817. A live webcast will be available at www.xpo.com/investors. The replay will be accessible until December 3, 2021, via the same toll-free numbers.