Tag Archives: XPO

XPO Logistics Announces Fourth Quarter and Full Year 2016 Results

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GREENWICH, Conn. – February 21, 2017 – XPO Logistics, Inc. (NYSE: XPO) today announced financial results for the fourth quarter and full year 2016. For the fourth quarter of 2016, revenue increased 10.0% year-over-year to $3.68 billion. Net income attributable to common shareholders was $27.3 million for the quarter, or earnings of $0.22 per diluted share, compared with a net loss attributable to common shareholders of $62.8 million, or a loss of $0.58 per diluted share, for the same period in 2015.

Adjusted net income attributable to common shareholders, a non-GAAP financial measure, was $29.8 million, or adjusted earnings of $0.24 per diluted share for the fourth quarter of 2016, excluding the items detailed below. This compares with an adjusted net loss attributable to common shareholders of $23.1 million, or an adjusted loss of $0.21 per diluted share, for the same period in 2015. Reconciliations of non-GAAP financial measures used in this release are provided in the attached financial tables.

The adjusted net income attributable to common shareholders for the quarter excludes: $34.9 million, or $21.8 million after-tax, of integration and rebranding costs; $16.5 million, or $10.1 million after-tax, of non-cash debt extinguishment costs related to the sale of the truckload unit; a benefit of $33.0 million, or $20.0 million after-tax, from unrealized gains on foreign exchange; and a $9.6 million benefit to our tax liability due to lower tax rates enacted in France.

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XPO Logistics Honored by Navistar with Diamond Supplier Award

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GREENWICH, Conn. – February 17, 2017 – XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, has been honored by Navistar International Corp. (NYSE: NAV) as a recipient of its Diamond Supplier Award for the third consecutive year, based on 2016 performance.

The prestigious award is conferred annually on the top two percent of Navistar’s supplier base worldwide. Critera include innovation, continuous quality improvement, service delivery, technology and cost.

“We congratulate XPO Logistics for once again earning Diamond Supplier status as a best-in-class company in Navistar’s supplier base,” said David McKean, vice president, procurement for Navistar. “XPO’s support is integral to our ability to deliver cutting-edge technology products of the highest quality with the lowest total cost of ownership.”

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XPO Logistics Schedules Fourth Quarter 2016 Conference Call for Wednesday,February 22, 2017

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GREENWICH, Conn. – January 13, 2017 – XPO Logistics, Inc. (NYSE: XPO) will hold its fourth quarter conference call and webcast on Wednesday, February 22, 2017, at 8:30 a.m. Eastern Time. The company’s results will be released after market close on February 21 and made available on www.xpo.com.

Access information:
Call toll-free from US/Canada: 1-877-269-7756
International callers: +1-201-689-7817
Live webcast online at: www.xpo.com/investors

A replay of the conference call will be available until March 22, 2017, by calling toll-free (from US/Canada) 1-877-660-6853; international callers dial +1-201-612-7415. Use the passcode 13652908. Additionally, the call will be archived on www.xpo.com/investors.

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XPO Logistics Schedules Fourth Quarter 2016 Conference Call for Wednesday, February 22, 2017

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GREENWICH, Conn. – January 13, 2017 – XPO Logistics, Inc. (NYSE: XPO) will hold its fourth quarter conference call and webcast on Wednesday, February 22, 2017, at 8:30 a.m. Eastern Time. The company’s results will be released after market close on February 21 and made available on www.xpo.com.

Read more at www.xpologistics.com

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XPO Logistics Awarded Contract for Cummins’ Global Aftermarket Distribution Center

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GREENWICH, Conn. – January 11, 2017 – XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, has been awarded a supply chain contract by global power leader Cummins Inc. (NYSE: CMI) to support its customers worldwide. XPO Logistics will operate Cummins’ primary parts distribution center starting this month, managing approximately 800 workers and over 2,700 orders shipped daily.

The one million square foot facility in Memphis, Tenn., distributes component parts, rebuild kits and remanufactured engines as the principal restock hub for Cummins’ warehouses worldwide, and supports thousands of Cummins dealers in North America. XPO will provide custom-designed technology for parts stocking and control, fulfillment, shipping and returns management.

“The employees and the important work they do each day at our distribution center is critical to the success of our customers and to Cummins,” said Clarence Carr, Director, Memphis Distribution Center, Cummins Inc. “We will work with XPO to ensure that the operations and the work environment continue to be of the highest quality and something we can all take pride in. We will continue to look for new and innovative ways to improve our work and our services.”

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XPO LOGISTICS ANNOUNCES THIRD QUARTER 2016 RESULTS

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GREENWICH, Conn. – November 2, 2016 – XPO Logistics, Inc. (NYSE: XPO) today announced financial results for the third quarter of 2016. Total revenue increased 57.2% year-over-year to $3.7 billion. Net income attributable to common shareholders was $13.8 million for the quarter, or earnings of $0.11 per diluted share, compared with a net loss attributable to common shareholders of $93.1 million, or a loss of $0.94 per diluted share, for the same period in 2015.

The adjusted net income attributable to common shareholders, a non-GAAP financial measure, was $49.8 million, or adjusted earnings of $0.41 per diluted share for the third quarter of 2016, excluding the items detailed below. This compares with an adjusted net loss attributable to common shareholders of $15.2 million, or an adjusted loss of $0.15 per diluted share, for the third quarter of 2015.

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XPO LOGISTICS DIVESTS NORTH AMERICAN TRUCKLOAD OPERATION TO TRANSFORCE

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GREENWICH, Conn. – October 27, 2016 – XPO Logistics, Inc. (NYSE: XPO) (“XPO”) today announced that it has completed the sale of its truckload business to TransForce Inc. (TSX: TFI) for approximately $558 million in cash, subject to customary adjustments. XPO will use the proceeds from the transaction to pay down debt.

The divested truckload operation encompasses approximately 3,000 tractors, 7,500 trailers and 29 locations that were part of the October 2015 acquisition of Con-way Inc. XPO will continue to offer full truckload services to customers in the United States, Mexico and Canada through its extensive brokerage network. XPO is the second largest freight brokerage provider in the world.

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ASDA UK RENEWS REVERSE LOGISTICS CONTRACT WITH XPO

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GREENWICH, Conn. – September 27, 2016 – National British supermarket chain ASDA Stores, Limited has renewed its long-term agreement with XPO Logistics (NYSE: XPO) for reverse logistics operations. Under the new contract, XPO will continue to manage nine ASDA service centers for the Leeds-based retailer. XPO washes millions of units of returnable transit equipment each year for ASDA and repairs them when necessary.

XPO has worked with ASDA to introduce a wide range of innovations in the service centers, including a “zero waste to landfill” (ZWTL) solution that helps ASDA meet its recycling goals for more than 600 stores in the U.K. Many of the solutions have been custom-developed through this relationship, reducing costs along the supply chain by bringing more logistics functions in-house. Proprietary XPO technology developed with ASDA tracks the assets and manages hundreds of supplier accounts.

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XPO LOGISTICS ANNOUNCES FALL 2016 GENERAL RATE INCREASE FOR LESS-THAN-TRUCKLOAD SERVICE

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GREENWICH, Conn. – September 12, 2016 – XPO Logistics (NYSE: XPO) today announced that it will implement a general rate increase averaging 4.9%, applicable to non-contractual less-than-truckload (LTL) transactions, effective September 26, 2016.

The rate increase will go into effect for customers on the company’s 599 tariff. It will apply to general LTL rates, minimum charges for LTL shipments moving within the United States and Canada, cross-border shipments moving between the United States, Puerto Rico and Canada, and the domestic U.S. portion of shipments into Mexico. Once effective, the new rates can be viewed online at the XPO customer portal, LTL.XPO.com.

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