Xpo Inc Stock Price, News & Analysis

XPO Logistics (NYSE: XPO) has renewed its partnership with Asda Stores Ltd. for reverse logistics and asset management services, extending their relationship to over 20 years. This three-year contract allows XPO to manage logistics for Asda’s product trays across nine sites. The company will employ its proprietary technology to handle over eight million assets and manage 250 suppliers. The collaboration supports Asda's zero-waste strategy, enhancing recycling efforts for cardboard, plastic, and food waste, contributing to significant cost reductions and process improvements.

XPO Logistics, a global leader in transportation and logistics, has been recognized as a 2020 Great Supply Chain Partner by SupplyChainBrain. This accolade reflects the company’s commitment to continuous improvement, strong leadership, and problem-solving capabilities. The selection was based on a poll of supply chain professionals who evaluated thousands of candidates. XPO operates a highly integrated network across 30 countries, serving over 50,000 customers with around 96,000 employees. The full list of recognized partners can be found on SupplyChainBrain's website.

XPO Logistics (NYSE: XPO) has enhanced its last mile services within its XPO Connect™ digital platform, responding to a surge in online purchases of heavy goods. The new features include improved inventory tracking with 99% accuracy, automated rescheduling for missed deliveries, and contactless delivery options. The company's last mile unit in North America has also reported delivery spikes akin to holiday peaks. XPO is the leading provider of last mile logistics for heavy goods in North America, managing over 10 million deliveries annually.

XPO Logistics reported a revenue decline to $3.50 billion in Q2 2020, down from $4.24 billion in Q2 2019 due to COVID-19. The company faced a net loss of $132 million, or $1.45 per share, compared to a profit of $122 million, or $1.19 per share a year prior. Adjusted EBITDA plummeted to $172 million from $455 million year-over-year. Despite challenges, XPO generated $214 million in operating cash flow. For Q3 2020, the company anticipates generating at least $350 million in adjusted EBITDA and reported $2.8 billion in total liquidity as of June 30, 2020.

XPO Logistics has appointed Eduardo Pelleissone as Chief Transformation Officer and Alex Santoro as Executive Vice President of Operations, effective August 3, 2020. Pelleissone brings 20 years of experience in logistics and operations, with a history of significant cost savings at Kraft Heinz. Santoro, with two decades in supply chain management, previously led Popeyes to rapid growth and doubled EBITDA. CEO Bradley Jacobs emphasized their talent and experience in enhancing profit improvement initiatives.

XPO Logistics (NYSE: XPO) announced that four drivers have surpassed three million accident-free miles in their LTL unit in North America. The drivers achieving this milestone are Terry Dixon, Pierre Rousselle, Roy Kirby, and Melvin Krohn. Additionally, in the first half of 2020, 105 drivers from 32 states and Quebec reached significant safety milestones, including 16 drivers with two million miles and 89 with one million miles. The company is recognized for its commitment to safe driving, achieving a 50% reduction in distracted driving incidents in 2019.

XPO Logistics (NYSE: XPO) has been recognized as a Leader in Gartner's Magic Quadrant for Third-Party Logistics, marking the second consecutive year for the accolade. This recognition is based on XPO's ability to execute and its completeness of vision, highlighting its extensive service offerings and infrastructure across a global footprint. The acknowledgment underscores XPO's commitment to providing essential supply chain services, especially during the pandemic, and reflects the high caliber of its workforce.