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XPO, Inc. (NYSE: XPO) is a leading provider of asset-based less-than-truckload (LTL) freight transportation in North America. Headquartered in Greenwich, Connecticut, XPO efficiently moves goods across its network using proprietary technology. The company serves approximately 52,000 customers with a vast network of 610 locations and 39,000 employees across North America and Europe.
XPO is rapidly evolving, particularly following the spinoff of its contract logistics division, GXO, in 2021, and its freight brokerage operations, RXO, in 2022. Today, XPO is focused on becoming a pure-play asset-based LTL carrier, with LTL shipping making up around 60% of total revenue. The company also has significant involvement in European trucking, which they plan to divest when the right opportunity arises.
Recent achievements include strong financial performance in a challenging market, highlighted by a 6% year-over-year revenue growth and a 37% increase in adjusted EBITDA for Q1 2024. XPO's LTL segment outperformed with a 50% increase in adjusted operating income and a 390-basis-point improvement in adjusted operating ratio. Notably, the company continues to achieve record-low damage claims ratios, reflecting their commitment to quality service.
XPO has been proactive in expanding its footprint, opening multiple new freight transportation centers, such as in Las Vegas and Sherman, Texas. These expansions are geared towards enhancing service quality, increasing capacity, and providing specialized services such as trade show shipping.
In addition to its operational success, XPO is dedicated to corporate responsibility. The company recently extended its partnership with Truckers Against Trafficking, training nearly 5,000 drivers to combat human trafficking. This initiative underscores XPO's commitment to safety and community welfare.
With a strong foundation, innovative technology, and a customer-focused approach, XPO continues to solidify its position as a leader in the LTL transportation sector.
XPO Logistics reported record revenue of $3.36 billion for Q4 2021, a 14% year-over-year increase, with net income rising to $126 million from $34 million in Q4 2020. Adjusted EBITDA was $323 million, surpassing guidance. For 2022, the company forecasts adjusted EBITDA of $1.36 to $1.40 billion and adjusted diluted EPS of $5.00 to $5.45, reflecting increases of 11% and 22%, respectively. The North American LTL segment generated $1.0 billion in revenue, and the brokerage segment saw a 36% revenue increase to $846 million, driven by digital platform growth. CEO Brad Jacobs highlighted ongoing improvements in operating ratios and profitability.
XPO Logistics (NYSE: XPO) achieved a significant milestone with over 600,000 downloads of its Drive XPO mobile app by year-end 2021, doubling its count within a year. Carrier engagement surged, with a 74% year-over-year rise in average weekly users of XPO Connect in Q4. This growth reflects XPO's strategic focus on truck brokerage automation and its strong investment in digital logistics solutions. Recent enhancements include an expanded API for Oracle's Transportation Management and advanced tracking for carriers, utilizing machine learning for efficient real-time freight capacity transactions.
XPO Logistics (NYSE: XPO) has announced the opening of two new less-than-truckload (LTL) terminals to enhance service capacity in North America. The company's recent expansions include adding 26 and 24 new doors at facilities in Sheboygan, Wisconsin, and Texarkana, Arkansas, respectively. Additionally, XPO is increasing production at its trailer manufacturing site, aiming to nearly double output in 2022. The company expects to expand its LTL door count by 900 by the end of 2023, contributing to operational efficiency and revenue growth.
XPO Logistics, Inc. (NYSE: XPO) will host its fourth quarter conference call on February 9, 2022, at 8:30 a.m. ET, following the release of its earnings after market close on February 8. Interested parties can join via phone or live webcast at www.xpo.com/investors. A replay of the call will be accessible until March 9, 2022. XPO is a prominent freight transportation provider, leveraging advanced technology to optimize supply chain efficiency. The company operates 756 locations globally, serving 50,000 shippers and employing around 42,000 personnel.
XPO Logistics (NYSE: XPO) has renewed its platinum partnership with Truckers Against Trafficking for 2022, coinciding with National Slavery and Human Trafficking Prevention Month. This initiative emphasizes the role of the transportation sector in combating human trafficking through education and awareness.
XPO offers training to its company drivers in the US and Canada, reinforcing its commitment to human rights outlined in its Human Trafficking Policy and Code of Ethics. The Truckers Against Trafficking program has successfully trained over 1.2 million drivers to identify and report suspected trafficking activities.
XPO Logistics (NYSE: XPO) announced on January 3, 2022, that Troy Cooper has stepped down from his role as president, effective December 27, 2021. Cooper will remain with the company as a senior advisor until June 30, 2022. CEO Brad Jacobs noted that Cooper's departure aligns with XPO's transformation into a pure-play transportation company following the GXO spin-off. Mario Harik will serve as acting president of less-than-truckload operations, while Drew Wilkerson and Luis Gomez will lead North America and European transport, respectively.
XPO Logistics, Inc. (NYSE: XPO) is celebrating its 15th year collaborating with Elves & More to donate bicycles to underprivileged children in Northeast Ohio this holiday season. The initiative involves assembling and distributing 1,000 bicycles across three neighborhoods in the greater Akron area, aimed at spreading joy among children. LaQuenta Jacobs, XPO's chief diversity officer, emphasized the company's commitment to community engagement. The program honors the late Chris Bott, a valued board member of Elves & More and a vice president at XPO.
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