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), a leader in asset-based less-than-truckload (LTL) freight transportation, provides this centralized hub for official announcements and market-moving developments. Access real-time updates on operational milestones, financial performance, and strategic initiatives that shape North America's logistics landscape.
This resource delivers critical insights through earnings disclosures, technology innovation announcements, and network expansion updates. Users will find detailed coverage of cross-border logistics developments, service center openings, and efficiency improvements driven by XPO's proprietary technology platform.
Key updates include quarterly financial results, leadership changes, capacity expansions, and sustainability initiatives. The curated news flow enables stakeholders to track how XPO's asset-based model and digital transformation strategies impact freight markets.
Bookmark this page for direct access to XPO's verified corporate communications. Combine these updates with SEC filings and investor materials for comprehensive analysis of the company's market position and growth trajectory.
XPO Logistics, Inc. (NYSE: XPO) is collaborating with Daimler Trucks North America (DTNA) to pilot battery-electric trucks in California for nine months. The program involves XPO drivers using Freightliner Electric innovation trucks in the Oakland area. This initiative aims to collect data to assist in the final design of DTNA's all-electric trucks. XPO's president emphasizes the importance of this partnership for environmental sustainability and industry innovation. The Bay Area Air Quality Management District supports the pilot, partially funding its deployment.
XPO Logistics reported strong financial results for Q1 2021, achieving record revenue of $4.77 billion, a significant increase from $3.86 billion in Q1 2020. The company posted a net income of $115 million, up from $21 million year-over-year, with diluted EPS rising to $1.02. Adjusted EBITDA also rose to $443 million, compared to $333 million in the same quarter last year. XPO raised its full-year adjusted EBITDA guidance to $1.825 billion - $1.875 billion, reflecting a 31% to 35% increase from 2020. The logistics segment notably secured a contract worth $1.8 billion, the largest in its history.
XPO Logistics announced the appointment of Bill Fraine as chief commercial officer of GXO Logistics, which is set to spin off from XPO’s logistics business in the second half of 2021. Fraine, who joined XPO in 2011, will focus on sales strategy in sectors like e-commerce and retail.
GXO will manage a strong customer base, including 30% of Fortune 100 companies. XPO’s logistics segment is positioned to leverage e-commerce growth and increasing demand for logistics services globally, with 890 locations in 27 countries.
XPO Logistics (NYSE: XPO) has reported significant growth in its XPO Connect digital freight marketplace, with tripled downloads of the Drive XPO app exceeding 400,000 in one year. President Drew Wilkerson highlighted the surge in adoption as a response to increasing demand for real-time insights into capacity and pricing in logistics. The platform utilizes machine learning to facilitate efficient buying and selling of logistics capacity. XPO operates with over 100,000 employees across 30 countries, serving more than 50,000 customers.
XPO Logistics has appointed Maryclaire Hammond as the chief human resources officer for GXO Logistics, its upcoming logistics spin-off. Hammond, who has over 20 years of HR experience, will focus on employee engagement and champion diversity. The spin-off is expected to occur in the second half of 2021, positioning GXO as a leading player in logistics amid the e-commerce boom. Currently, XPO operates 1,629 locations across 30 countries, serving over 50,000 customers.
XPO Logistics announced the appointment of Mark Manduca as chief investment officer for GXO Logistics, the anticipated spin-off of XPO's logistics operations. Effective May, Manduca will drive GXO’s growth strategy and manage its asset portfolio. He is noted for leading top-ranked transport research, earning accolades from Institutional Investor. The spin-off aims to position GXO as a leading player in the logistics sector, catering to e-commerce and supply chain outsourcing trends, supported by 890 locations across 27 countries.
XPO Logistics (NYSE: XPO) has partnered with IRONMAN EMEA for a multi-year agreement running through 2023. XPO will manage the transportation of essential infrastructure for over 20 IRONMAN races scheduled in 2021 across Europe. With a proven track record in event logistics, XPO will utilize a dedicated fleet to ensure timely setup. This partnership underscores XPO's capabilities as a logistics provider for major sporting events, leveraging experience from previous collaborations with prestigious competitions like the Tour de France.
XPO Logistics (NYSE: XPO) reports strong momentum heading into 2021, driven by a V-shaped recovery across customer sectors. The company anticipates a significant GDP growth, possibly reaching 10%. XPO's performance has surpassed pre-pandemic levels due to e-commerce, outsourcing, and automation demand. The North American LTL business aims for over $1 billion in adjusted EBITDA for 2022. XPO is progressing on its spin-off plan to separate logistics from transportation operations, targeting $1.725 to $1.8 billion in adjusted EBITDA growth in 2021.
