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 (NYSE: XPO) will serve as the official transport partner for the Tour de France for the 40th consecutive year, starting August 29, 2020. A team of 68 drivers will operate 52 trucks over 3,479 kilometers, transporting over 420 tons of equipment across all 21 race stages. This year, XPO has implemented enhanced health protocols due to COVID-19, including safety training for drivers. Additionally, for the first time, natural gas-powered trucks will be used to reduce environmental impact, aligning with broader eco-friendly initiatives.
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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.
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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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