Xpo Inc Stock Price, News & Analysis

XPO Logistics will feature its CIO, Mario Harik, at the WSJ Pro Artificial Intelligence Executive Forum on March 31, 2021. Harik will discuss the integration of AI, machine learning, and digitization in enhancing supply chain resilience. The virtual event, titled “Reinventing the Supply Chain,” will be moderated by Sara Castellanos from The Wall Street Journal and commence at 11:20 a.m. Eastern Time. XPO, a global leader in logistics, operates across 30 countries and serves over 50,000 customers with proprietary technologies like XPO Connect™.

XPO Logistics (NYSE: XPO), a leader in transport and logistics, has launched a new technology pilot program in collaboration with Balyo, focusing on robotic reach trucks. This initiative marks XPO as the first logistics company in Europe to test Balyo's robotic equipment in real conditions at a distribution center in Blois, France. The robots can reach up to 11 meters and handle 10-20 pallets per hour, enhancing efficiency while working alongside employees. This partnership aims to optimize logistics performance and drive innovation in the field.

XPO Logistics has filed a confidential initial Form 10 registration statement for its planned spin-off of its logistics business, which will be named GXO Logistics. This spin-off aims to create two focused companies, enhancing operational efficiency. GXO will leverage years of technology investment, targeting growth in e-commerce and digital capabilities.
The completion of the spin-off is expected in the second half of 2021, contingent on various conditions including debt refinancing and board approval.

XPO Logistics has announced that three of its executives, Ashfaque Chowdhury, Drew Wilkerson, and Erik Caldwell, were honored by Supply & Demand Chain Executive as 2021 Pros to Know for their achievements in the supply chain industry. Troy Cooper, president of XPO, praised their leadership and experience, totaling over 40 years. XPO is recognized as one of the largest supply chain service providers globally, with significant roles in logistics and transportation. In 2020, its XPO Connect digital marketplace also received the SDCE 100 Award for Innovation.

XPO Logistics has achieved an impressive safety milestone at its Plaquemine, Louisiana logistics site, marking 8,492 days without an OSHA-recordable incident. This record spans over 23 years and represents a commitment to safety and operational excellence. The warehouse, which covers 300,000 square feet, serves a global agribusiness customer. XPO's recordable incident rate of 1.25 in 2020 is significantly better than the industry average of 4.9. The Plaquemine team has averaged eight years of service and participates in the company's global safety program.

XPO Logistics announced the refinancing of $2.0 billion in existing term loan facilities, aiming to reduce the interest rate. The previous loans had interest rates of LIBOR plus 2.00% and LIBOR plus 2.50%, while the new facility offers a lower rate of LIBOR plus 1.75%. This refinancing is expected to decrease annual interest expenses by approximately $86 million. The new loan retains the maturity date of February 23, 2025, and follows a $1.2 billion debt paydown earlier in the year.

XPO Logistics (NYSE: XPO) announced a record 230 honorees for 2020 in its North American less-than-truckload (LTL) unit, achieving a total of 290 million accident-free miles. Among them, ten drivers surpassed three million accident-free miles. The company emphasizes safety through its 'Road to Zero' program, recognizing the commitment of its drivers and investments in technology. XPO, a leading global provider of supply chain solutions, operates a national network of 290 service centers with approximately 12,000 drivers.

XPO Logistics announced the appointment of Ravi Tulsyan as deputy chief financial officer, effective immediately. Tulsyan, who joined XPO in 2016, will also continue as the company’s treasurer, expanding his responsibilities within the global finance organization. Before XPO, he held significant treasury roles at The ADT Corporation, PepsiCo, and Xerox Corporation, showcasing his expertise in capital markets and financial planning. XPO, a top logistics provider, operates a network of 1,629 locations globally, serving over 50,000 customers.

XPO Logistics (NYSE: XPO) has announced the appointment of LaQuenta Jacobs as an independent director to the board of Soles4Souls, a non-profit organization focused on providing shoes and clothing to those in need. Jacobs, XPO's chief diversity officer, is set to leverage her expertise in logistics and her commitment to social inclusion to enhance the organization's impact. In 2020, XPO contributed logistics support for over 100,000 pairs of shoes to Soles4Souls, reflecting its commitment to social responsibility and community support.