Xpo Inc Stock Price, News & Analysis

XPO Logistics has announced a plan to spin-off its logistics segment into a separate publicly traded company. This move aims to create two independent entities: XPORemainCo, focusing on freight transportation, and NewCo, a leading contract logistics provider. Both companies will be positioned to capitalize on growth trends in their respective sectors. The separation is expected in the second half of 2021, subject to various approvals. The XPO board believes this strategy will enhance equity value and operational focus, benefiting stakeholders.

XPO Logistics (NYSE: XPO), a global leader in transportation and logistics, has launched a companywide shoe drive this December to benefit the non-profit organization Soles4Souls. The drive encourages employees to donate new or gently used shoes to assist those living below the poverty line. This initiative is an extension of XPO's earlier support, which included donated supply chain services. LaQuenta Jacobs, XPO’s chief diversity officer, emphasizes the campaign's aim to bring comfort and kindness to those in need.

XPO Logistics has deployed 370 advanced barcode scanners in warehouses across the UK, Spain, France, and the Netherlands. These fixed-mount scanners enhance inventory data reading efficiency, replacing shared handheld devices with a more hygienic option. Following successful pilot programs with major retailers like H&M, the technology aims to boost throughput by over 10% on average, particularly during the holiday season. As Europe's leader in outsourced e-fulfillment, XPO is adapting to increasing online orders accelerated by COVID-19.

XPO Logistics has been named to the 2021 FreightTech 25 list, recognizing it as one of the most technologically disruptive companies in the transportation industry for the third consecutive year. An independent panel selected XPO from over 500 nominees for its commitment to innovation in supply chain solutions. The company reported significant milestones, including over 65,000 carriers registered on its XPO Connect™ platform and 200,000 downloads of the Drive XPO™ app. These achievements reflect the company's focus on enhancing visibility and control in operations.

XPO Logistics, a leading global logistics provider, is gearing up for a potentially record-breaking holiday shopping season across 30 countries. Key initiatives include:

• Deploying intelligent automation to enhance order fulfillment.
• Recruiting over 25,000 employees in Q4.
• Maintaining substantial logistics capacity with 200 million sq. ft. of warehouse space.
• Offering home delivery services seven days a week.
• Providing real-time freight visibility via its XPO Connect™ platform.

The company aims to meet increased e-commerce demand and continues to prioritize employee safety amid the pandemic.

XPO Logistics reported a revenue increase to $4.22 billion for Q3 2020, up from $4.15 billion in Q3 2019. However, net income fell to $84 million from $117 million, and diluted EPS decreased to $0.83 from $1.14. Adjusted EBITDA was stable at $439 million. The company expects Q4 adjusted EBITDA between $400 million and $410 million, with full-year guidance of $1.35 billion. CEO Brad Jacobs noted strong growth across services, particularly in e-commerce and less-than-truckload logistics.

XPO Logistics announced a successful pilot of ProGlove's wearable barcode scanner, which improved inventory picking speeds by 10% and reduced errors by 75%. Conducted over seven weeks at a distribution center in Everett, Washington, the pilot showcased six seconds saved per pick, enhanced employee health with ergonomic design, and integrated seamlessly with XPO's warehouse management system. These advancements are expected to be replicated across XPO's logistics network, aligning with e-commerce growth.