XPO Logistics: Global leaders show continued growth
XPO Logistics, founded in 2011, is a global leader when it comes to providing transportation and logistic services.
The company boasts its ability to use its networks to help customers manage goods efficiently and successfully across their supply chains. XPO’s core company values are: safety, respect, inclusive, innovative and entrepreneurial.
XPO Logistics has recently announced its third quarter financial results, further solidifying its strong position as global leaders and its ability to continuously grow.
Highlights from the company’s third quarter report:
Revenue: increased year-on-year to US$4.15bn
Net income (common shareholders): increased year-on-year to US$117mn
Operating income: increase year-on-year to US$229mn
Free cash flow range: remained year-on-year the same between US$575mn to US$675mn
Bradley Jacobs, chairman and chief executive officer of XPO Logistics commented on the results:
“In the third quarter, we grew EPS by 54% and adjusted EPS by 33% year-over-year. We also delivered a solid beat on adjusted EBITDA, outpacing the macro through cost control and margin discipline. In less-than-truckload, our adjusted operating ratio was a third quarter record. We remain firmly on track to generate at least $1 billion of EBITDA from LTL in 2021. Our significant investments in technology are creating tailwinds across our operations. We’re executing on 10 initiatives that represent a pool of $700 million to $1 billion of potential profit improvement over the next several years. One large opportunity is to apply our XPO Smart productivity tools to the $5 billion of annual costs related to our variable labor spend. All 10 initiatives are specific to XPO and largely independent of the operating environment. We’re very focused on the size of the prize and the meaningful potential uplift to our profitability.”
Did you know? 69% of the fortune 100 trusts XPO with its business.
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Image source: XPO Logistics