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) 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 (NYSE: XPO) has been named Owens Corning's Supplier of the Year for 2020, recognized for its creative solutions and reliable service among over 100 nominees. Drew Wilkerson, XPO's president of North American transportation, highlighted the value of their long-term partnership and integrated supply chain efficiency. Brad Lazorka from Owens Corning praised XPO's agility and innovative approaches that enhance their supply chain operations. Since 2013, XPO has provided a broad range of logistics services to Owens Corning, solidifying their collaboration.
XPO Logistics (NYSE: XPO) is donating the transportation of 3,000 pairs of new shoes from Alabama to Tennessee for Soles4Souls, a nonprofit focused on alleviating poverty through footwear. This marks the second collaboration between XPO and Soles4Souls, following a previous commitment to transport over 100,000 shoes globally. LaQuenta Jacobs, XPO’s chief diversity officer, emphasized the importance of addressing the increased need for support this year. XPO operates across 30 countries with around 96,000 employees.
XPO Logistics, Inc. (NYSE: XPO) will host its third quarter earnings conference call on November 6, 2020, at 8:30 a.m. ET, following the release of results post-market on November 5. Interested parties can access the call via a toll-free number or international dialing. A replay will be available until December 6, 2020. XPO is a leading global logistics provider, operating in 30 countries with around 96,000 employees and 1,506 locations, serving over 50,000 customers.
XPO Logistics (NYSE: XPO) has been named the official transportation partner for the Susan G. Komen 3-Day® walks in 2021, significantly expanding its partnership with the leading breast cancer organization. The company will provide trucks and drivers for the events, which attract over 500,000 participants, and will also offer storage for event materials. Furthermore, XPO plans to match donations to Susan G. Komen up to $10,000 to support breast cancer research and assistance programs.
XPO Logistics (NYSE: XPO) has announced a partnership with the Hispanic Association of Colleges and Universities (HACU) to support initiatives focused on higher education access for Hispanic students. XPO's chief diversity officer, LaQuenta Jacobs, will speak at the HACU ¡Adelante! Leadership Institute on October 26, 2020, discussing how personal experiences can foster opportunities. HACU represents over 500 institutions dedicated to enhancing the educational experience for Hispanic students in the U.S., Puerto Rico, and beyond.
XPO Logistics announced significant growth in its XPO Connect digital freight marketplace, surpassing 65,000 registered carriers and reaching over 200,000 downloads of the Drive XPO mobile app. These milestones represent a 100% increase in app downloads and a 63% increase in carrier registrations since January 2020. Key drivers include XPO Connect's popularity for digital brokerage, rapid pandemic response, and the addition of new app features that optimize logistics. Drew Wilkerson emphasized the platform's immediate access to capacity as a critical factor for shippers and carriers.
XPO Logistics (NYSE: XPO) announced the expansion of its Academic Partners Program, providing discounted accredited courses to hourly workers in the U.S. Eligible employees can combine a $5,250 annual tuition reimbursement with discounts to earn tuition-free degrees across 80 fields. Additionally, partnerships with institutions like the Massachusetts Institute of Technology offer access to executive education courses at reduced prices. This initiative aims to enhance personal growth and career development within the workforce.
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