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XPO back in black, but Q2 sales slow to 202.9pc to US$3.7 billion
GREENWICH, Connecticut's XPO Logistics reversed itself from last year's loss with a second quarter net profit of US$42.6 million, drawn on quarterly revenues of $3.7 billion, which increased 202.9 per cent year on year.
Having reversed itself from a $90.3 million first half loss, XPO posted a six-month net profit of $22 million, drawn on revenues of $7.2 billion, up 276.7 per cent.
"Our strong performance was led by North American operations for last mile and less-than-truckload, and European supply chain operations," said chairman and CEO Bradley Jacobs.
"E-commerce was a major tailwind - driving margin expansion in last mile, and resulting in major contract wins in contract logistics on both sides of the Atlantic.
"In LTL [less than truckload], we increased operating income by 66 per cent from last year's second quarter, pre-acquisition," he said.
Quarterly transportation revenue was up 180.9 per cent year on year to $2.4 billion, mostly because of 2015 acquisitions, with contributions from growth in last mile and truck brokerage.
Net profit improved to 29.1 per cent in this segment, due to the acquisition of the LTL business in October 2015, as well as margin improvements in last mile and global forwarding.
Quarterly logistics revenue was up 270.4 per cent year on year to $1.3 billion because of 2015 acquisitions.
Having reversed itself from a $90.3 million first half loss, XPO posted a six-month net profit of $22 million, drawn on revenues of $7.2 billion, up 276.7 per cent.
"Our strong performance was led by North American operations for last mile and less-than-truckload, and European supply chain operations," said chairman and CEO Bradley Jacobs.
"E-commerce was a major tailwind - driving margin expansion in last mile, and resulting in major contract wins in contract logistics on both sides of the Atlantic.
"In LTL [less than truckload], we increased operating income by 66 per cent from last year's second quarter, pre-acquisition," he said.
Quarterly transportation revenue was up 180.9 per cent year on year to $2.4 billion, mostly because of 2015 acquisitions, with contributions from growth in last mile and truck brokerage.
Net profit improved to 29.1 per cent in this segment, due to the acquisition of the LTL business in October 2015, as well as margin improvements in last mile and global forwarding.
Quarterly logistics revenue was up 270.4 per cent year on year to $1.3 billion because of 2015 acquisitions.
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