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. (NYSE: XPO) is widely covered in financial and industry news as an asset-based less-than-truckload (LTL) freight transportation company in North America with additional transportation operations in Europe. News about XPO often centers on its LTL performance metrics, technology initiatives and corporate developments, reflecting its role in the transportation and warehousing sector.
Investors following XPO news will see regular coverage of quarterly earnings results and operating data updates. The company releases detailed segment information for its North American LTL and European Transportation businesses, including revenue, operating income, adjusted EBITDA, adjusted operating ratio and key operating metrics such as shipments per day, tonnage per day and yield. These updates are typically accompanied by management commentary on freight conditions, pricing and productivity.
XPO’s news flow also includes Regulation FD disclosures and Form 8-K filings that furnish earnings press releases, investor presentations and preliminary operating metrics. These items give additional context on how the company views its performance, the use of non-GAAP measures and its expectations for the LTL segment.
Beyond financial results, XPO issues news on governance and leadership changes, such as board transitions and updates to executive roles. The company also highlights community and industry recognition, including its ongoing partnerships with Truckers Against Trafficking and Susan G. Komen 3-Day walks, as well as its repeated inclusion in the FreightTech 100 list.
By monitoring this news page, readers can review XPO’s earnings announcements, operating updates, governance disclosures and community initiatives in one place, using the flow of company communications to understand how its LTL and European transportation businesses are evolving over time.
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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.
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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.
XPO Logistics, Inc. (NYSE: XPO) will hold its second quarter conference call on July 31, 2020, at 8:30 a.m. ET. The company will release its Q2 results on July 30, post-market close, available at www.xpo.com. Interested parties can join the call toll-free at 1-877-269-7756 in the US and Canada, or +1-201-689-7817 internationally. A replay will be accessible until August 31, 2020. XPO is a leading logistics provider operating in 30 countries with approximately 97,000 employees, serving over 50,000 customers worldwide.
XPO Logistics (NYSE: XPO) has released a whitepaper titled “Essential Support for Essential Workers,” detailing its proactive measures in response to COVID-19. The document outlines strategies to ensure the well-being of employees during the pandemic, as XPO continues to function as an essential service provider. Key areas covered include employee support, risk mitigation, and on-site preventative measures across over 300 logistics sites. The company's president emphasized the intent to share best practices with the industry to enhance community safety during crises.
XPO Logistics CEO Bradley Jacobs will keynote the FreightWaves 2020 3PL Summit on July 21, focusing on 'Navigating the Future of Freight.' Under Jacobs' leadership, XPO has evolved into a top ten global logistics provider within nine years, recognized in the 2020 FreightTech 25 as a leading innovator. The summit aims to connect industry executives, analysts, and entrepreneurs through a virtual platform. XPO operates across 30 countries with over 97,000 employees, servicing more than 50,000 customers worldwide.
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