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.
GXO Logistics (NYSE: GXO), the world’s largest pure-play contract logistics provider, commenced trading on the New York Stock Exchange on August 2, 2021, following its spin-off from XPO Logistics (NYSE: XPO). CEO Malcolm Wilson highlighted this milestone as a launchpad for future growth, supported by a workforce of 94,000 and over 208 million square feet of warehouse space. The spin-off involved XPO stockholders receiving one share of GXO for each share they held, completing a tax-free distribution. GXO emphasizes technology-driven supply chain solutions for its blue-chip customers.
XPO Logistics has completed the spin-off of its global logistics segment, now known as GXO Logistics, effective August 2, 2021. The new slate of directors for XPO has become effective with this transaction. Key leadership remains, with Brad Jacobs as chairman and several new board members appointed, enhancing the board's experience and diversity. The new directors include Jason Aiken, Mary Kissel, Allison Landry, and Johnny C. Taylor, Jr. This transition is expected to strengthen XPO's growth strategy and market opportunities.
XPO Logistics, Inc. has completed the spin-off of GXO Logistics, Inc., resulting in two independent publicly traded companies. XPO continues to operate as a leading freight transportation provider under the ticker symbol 'XPO', while GXO, now the largest pure-play contract logistics provider, begins trading under 'GXO'. The spin-off aims to enhance both companies' potential, with shareholders receiving one share of GXO for each share of XPO held by the record date of July 23, 2021. The spin-off is designed to be tax-free for XPO shareholders.
XPO Logistics, Inc. (NYSE: XPO) announced that its logistics segment, GXO Logistics, Inc., will ring the NYSE Opening Bell on August 2, 2021. This marks GXO's debut as the largest pure-play contract logistics provider globally, post its spin-off from XPO. Each record stockholder of XPO as of July 23, 2021, will receive one share of GXO for each share held. GXO will operate with approximately 94,000 employees and 869 facilities in 27 countries, aiming to leverage e-commerce growth and supply chain outsourcing trends.
XPO Logistics reported record revenue of $5.04 billion for Q2 2021, a significant rise from $3.50 billion in Q2 2020. The company posted a net income of $156 million, rebounding from a net loss of $132 million year-over-year. Adjusted EBITDA surged to $507 million compared to $172 million in Q2 2020. The transportation segment showed robust growth, with revenue of $3.19 billion and a notable 82.7% operating ratio. XPO raised its adjusted EBITDA targets for 2021 and 2022, reinforcing its strong financial momentum ahead of the planned spin-off.
XPO Logistics has appointed Ravi Tulsyan as the new chief financial officer, effective September 2, replacing David Wyshner. Tulsyan, who joined XPO in 2016, previously held the roles of treasurer and deputy CFO. His extensive experience includes significant positions at ADT Corporation, PepsiCo, and Xerox. CEO Brad Jacobs expressed confidence in a smooth transition, highlighting Tulsyan's deep involvement in the finance organization. The leadership change occurs in a pivotal year for XPO as it prepares for significant strategic moves.
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XPO Logistics, Inc. announced the appointment of Karlis Kirsis as chief legal officer for its forthcoming spin-off company, GXO Logistics. Kirsis, who has been with XPO since 2016, will oversee legal and compliance functions for GXO, which is set to become the largest pure-play contract logistics provider globally upon its launch on August 2, 2021. The spin-off aims to create two independent companies, enhancing strategic focus and investment opportunities in their respective sectors. GXO will benefit from trends in e-commerce and logistics outsourcing.
XPO Logistics has been recognized as a Leader in the Gartner Magic Quadrant for Third-Party Logistics for the sixth time in 2021. The report highlights XPO's extensive service offerings and global footprint, demonstrating its ability to execute and fulfill customer needs across various industries. CEO Malcolm Wilson emphasized the company's focus on delivering smart supply chains through automation. XPO is preparing to spin off its logistics segment, GXO Logistics, on August 2, 2021, establishing two independent entities each targeting distinct markets.
XPO Logistics, Inc. has announced the spin-off of its logistics segment into a new entity, GXO Logistics, Inc., which will create two independent public companies. The distribution of GXO shares to XPO shareholders will occur on August 2, 2021, with record date set for July 23, 2021. Each XPO shareholder will receive one GXO share for every XPO share held. GXO aims to become the largest pure-play contract logistics provider, while XPO will maintain its focus on transportation services. The spin-off does not require shareholder approval and will take place under NYSE ticker symbols XPO and GXO.