Company:XPO Logistics

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Short description: American transportation company
XPO Logistics, Inc.
TypePublic
  • NYSE: XPO
  • S&P 400 component
  • Russell 1000 component
Founded1989
HeadquartersGreenwich, Connecticut, U.S.
Number of locations
744 (2021)
Key people
Brad Jacobs
(Chairman and CEO)
Ravi Tulsyan
(CFO)
Mario Harik
(CIO; Acting President, LTL)
Drew Wilkerson
(President, Freight Brokerage)
RevenueDecrease US$12.81 billion (2021)
Increase US$616 million (2021)
Decrease US$341 million (2021)
Total assetsIncrease US$8.71 billion (2021)
Number of employees
44,000 (2021)
Website{{{1}}}
Footnotes / references
[1][2][3][4][5][6]

XPO Logistics is an American freight transportation company that provides less-than-truckload and truck brokerage services in 18 countries.[7][8][9] XPO's corporate headquarters are located in Greenwich, Connecticut, U.S.[10]

XPO Logistics box truck

History

XPO Logistics

In September 2011, American businessman Brad Jacobs[11][12][13] acquired Express-1 Expedited Solutions, Inc. and became its chairman and CEO. The company changed its name to XPO Logistics – a reference to Express-1's AMEX ticker symbol, "XPO" – and began acquiring other companies in the transportation and logistics sector.[14][15]

In March 2012, XPO opened a national operations center in Charlotte, N.C. and listed its shares on the New York Stock Exchange in June of the same year.[16]

On April 28, 2015 XPO Logistics announced a $3.56 billion (3.24 billion euros) deal to acquire the European based Norbert Dentressangle, including acquired debt.[17] The acquisition was completed on June 8th, 2015 and the Dentressangle brand was phased out from June 2015.[18] This helped XPO expand into the European trucking and logistics market.

On September 9th, 2015 XPO acquired Con-way for $3 billion, this move helped grow XPO's LTL operations in North America as XPO absorbed 16,600 employees, more than 365 operating locations, 16,000 dock doors and 32,750 tractors and trailers from the Con-Way purchase.[19] Roughly one year later XPO sold their truckload division (acquired from Con-Way) to the Canadian based TransForce for $558 million in cash.[20]

In June 2016, XPO was included in the Fortune 500 list of the largest U.S. corporations based on revenue.[21][22] By May 2019, XPO was ranked 180th on the Fortune 500 list.[23] XPO Logistics, Inc. was the 7th best-performing stock of the last decade on the Fortune 500, with its share price rising more than 1,000% from the time its CEO, Brad Jacobs, took control.[24][25]

In December 2020, XPO announced plans to spin off its logistics segment as GXO Logistics,[26] creating two, independent companies: XPO as a provider of freight transportation services and GXO as the world's largest pure-play provider of contract logistics services.[27][28][29] The spin-off was completed in August 2021, with Brad Jacobs as Non-Executive Chairman and Malcolm Wilson as CEO.[30][31]

Operations

XPO provides freight transportation in North America and Europe[32] through its less-than-truckload (LTL) and truck brokerage lines of business.[33]

LTL (less-than-truckload)

XPO's LTL business ships freight on pallets using a hub-and-spoke distribution system.[34] It is the third-largest LTL provider in North America and a leading LTL provider in Western Europe.[35][36][37] XPO's North American LTL network covers 99% of U.S. zip codes and includes 294 cross-dock facilities.[38][1][39][40] XPO manufactures its own trailers at an in-house facility in Searcy, Arkansas,[41][42] and operates 130 driver training schools.[43]

Truck brokerage

XPO's truck brokerage business digitally connects independent road carriers with companies that ship materials, parts, or finished goods.[44][37][45] XPO offers complementary brokered services for managed transportation, last mile logistics for heavy goods and global forwarding.[46] XPO is the fourth-largest truck brokerage provider in the United States.[47][48][49]

In March 2022, XPO announced plans to spin off its asset-light brokered transportation services in North America as a standalone company called RXO.[50][51][52] The spin-off is expected to complete in the fourth quarter of 2022.[53] In the same announcement, XPO shared intentions to divest its European transportation business through either a sale or listing on a European stock exchange.[54]

Sustainability

XPO publishes an annual sustainability report[55] and ESG scorecard to track ongoing initiatives,[56][57] including LED lighting, optimizing transportation routes, alternative-fuel trucks and electric delivery vehicle pilots.[58][59]

Total CO2e Emissions (Kt)
Dec 2017 Dec 2018 Dec 2019 Dec 2020
1,208[60] 1,243[61] 1,278[62] 1,230[55]

Technology

XPO employs IT professionals and data scientists who work on automation and intelligent machines, forecasting demand, predictive analytics, pricing algorithms, workforce planning, load and route optimization, customer service and its digital freight marketplace.[63][64][65] In its LTL network, XPO uses machine learning and predictive analytics to improve pricing algorithms and network productivity.[66][67]

In 2019, XPO was the first global logistics company to join the Massachusetts Institute of Technology (MIT) Industrial Liaison Program, a partnership organization that pairs MIT resources with corporations worldwide to solve global business challenges.[68][69][70]

Other technology initiatives include:

  • The proprietary XPO Connect digital freight marketplace and Drive XPO carrier mobile app,[71] which connect shippers with carriers[72]
  • An expedited bid system for truck transportation that uses an automated, web-based auction portal to match loads to carriers[73]

Tour de France

Due to their European acquisitions, XPO Logistics has handled logistics for the annual Tour de France bicycle race since 1981.[74][75] In July 2019, XPO was awarded a contract extension through 2024 to be the official transport and logistics partner of the Tour de France.[75] XPO also manages logistics for other major events in France, including the French Soccer Cup, the Evian Golf Championship and the Paris Marathon.[76][77] In 2019, XPO Logistics released a mobile game app called XPO Moves the Tour to simulate how drivers and proprietary logistics technology support the Tour de France.[78][79]

See also

  • Companies listed on the New York Stock Exchange (X)
  • Economy of Connecticut

References

  1. ↑ 1.0 1.1 "XPO Logistics announces fourth quarter and full-year 2019 results". XPO Logistics. https://news.xpo.com/2378/xpo-logistics-announces-fourth-quarter-and-full-year-2019-results/. 
  2. ↑ "US SEC: Form 10-K XPO Logistics, Inc.". United States Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1166003/000116600319000021/xpo201810-k.htm. 
  3. ↑ "XPO Logistics Ranked Fourth Largest Freight Brokerage Firm and Top 50 Logistics Company". Reuters. November 13, 2013. https://www.xpo.com/solutions/transportation/freight-brokerage. 
  4. ↑ "Profile:XPO Logistics, Inc.". Reuters. https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=XPO. 
  5. ↑ "Facts and Figures". October 31, 2018. https://xpodotcomtest01.blob.core.windows.net/xpodotcomtest01blob01/xpo_pdfs/Newsroom/FactSheet-10.31.2018_KFeTOkW.pdf. 
  6. ↑ "XPO Logistics hires new CFO as it weighs asset sale". The Wall Street Journal. February 10, 2020. https://www.wsj.com/articles/xpo-logistics-hires-new-cfo-as-it-weighs-asset-sale-11581370818. 
  7. ↑ "XPO Logistics Completes Acquisition of NLM". Market Watch. December 30, 2013. http://www.marketwatch.com/story/xpo-logistics-completes-acquisition-of-nlm-2013-12-30. 
  8. ↑ Ossenbeck, Brian P. (March 10, 2017). "XPO Logistics". J.P. Morgan Aviation, Transportation and Industrials Conference. J.P. Morgan. 
  9. ↑ "XPO Logistics Announces Public Filing of Form 10 Registration Statement for Planned Spin-Off of GXO Logistics". June 9, 2021. https://investors.xpo.com/node/17186/html. 
  10. ↑ "XPO Logistics finalizes Con-way acquisition". American Shipper. http://www.americanshipper.com/Main/News/XPO_Logistics_finalizes_Conway_acquisition_61992.aspx. 
  11. ↑ Wahba, Phil (July 8, 2022). "XPO’s CEO thinks self-driving trucks are coming—just not anytime soon". https://fortune.com/2022/07/08/xpo-ceo-self-driving-trucks-supply-chain/. 
  12. ↑ "Bradley Jacobs: The maestro of mergers". http://www.forbesindia.com/article/cross-border/bradley-jacobs-the-maestro-of-mergers/50127/1. 
  13. ↑ Smith, Jennifer. "Bradley Jacobs Has Acquired More Than 500 Companies. Here's What He Has Learned.". https://www.wsj.com/articles/bradley-jacobs-has-acquired-more-than-500-companies-heres-what-he-has-learned-11572228061. 
  14. ↑ "Jacobs has big plans for Express-1". September 8, 2011. http://www.expeditersonline.com/trucking/In_The_News_2/jacobsexpress1.html. 
  15. ↑ "Jacobs has big plans for Express-1 expediter". February 7, 2012. http://www.greenwichtime.com/news/article/Jacobs-has-big-plans-for-Express-1-expediter-3006886.php/. 
  16. ↑ "XPO Logistics, Inc, Form 8-K, Current Report, Filing Date Jun 8, 2012". http://edgar.secdatabase.com/170/119312512265382/filing-main.htm. 
  17. ↑ "US logistics group XPO buying France's Dentressangle". April 28, 2014. http://www.businessinsider.com/afp-us-logistics-group-xpo-buying-frances-dentressangle-2015-4?IR=T. 
  18. ↑ "Norbert Dentressangle disappears from roads as XPO starts marketing push". http://www.shdlogistics.com/news/norbert-dentressangle-disappears-from-roads-as-xpo-starts-marketing-push. 
  19. ↑ Chao, Brian Baskin And Loretta (2015-09-09). "XPO Logistics to Acquire Trucker Con-way in $3 Billion Deal" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/xpo-logistics-to-buy-con-way-1441834011. 
  20. ↑ Bookmark +, Deborah Lockridge •. "CFI Name Returns With TransForce Acquisition". https://www.truckinginfo.com/137454/cfi-name-returns-with-transforce-acquisition. 
  21. ↑ "Here are the 15 New Companies Joining the Fortune 500". June 6, 2016. http://fortune.com/2016/06/06/fortune-500-companies-making-debuts/. 
  22. ↑ "XPO Logistics named 'fastest-growing company' in Fortune 500". July 12, 2016. http://www.lloydsloadinglist.com/freight-directory/news/XPO-Logistics-named-%E2%80%98fastest-growing-company%E2%80%99-in-Fortune-500/66925.htm#.V7NTtdTD-70. 
  23. ↑ "Fortune 500: XPO Logistics". May 21, 2018. http://fortune.com/fortune500/xpo-logistics/. 
  24. ↑ Sozzi, Brian (January 15, 2020). "XPO Logistics explores sale or spin-off of one or more of its businesses". https://finance.yahoo.com/news/xpo-logistics-explores-sale-or-spinoff-of-one-or-more-of-its-businesses-214129388.html. 
  25. ↑ Cornell, Joe (January 21, 2020). "XPO Logistics to explore breakup". https://www.forbes.com/sites/joecornell/2020/01/21/xpo-logistics-to-explore-breakup/#45dd611f3747. 
  26. ↑ Maiden, Todd (December 23, 2021). "2021’s most transformational deals in trucking". https://www.freightwaves.com/news/2021s-most-transformational-deals-in-trucking. 
  27. ↑ Sharkey, Grace. "XPO Announces Logistics Spinoff GXO". https://www.freightwaves.com/news/xpo-announces-logistics-spinoff-gxo. 
  28. ↑ Bowman, Jeremy (August 17, 2021). "Why You Should Take a Closer Look at the New XPO Logistics". https://www.fool.com/investing/2021/08/17/why-you-should-take-a-closer-look-at-the-new-xpo-l/. 
  29. ↑ Whiteman, Lou (August 2, 2021). "Why Shares of XPO Are Plunging Today". https://www.fool.com/investing/2021/08/02/why-shares-of-xpo-logistics-are-plunging-today/. 
  30. ↑ "XPO Logistics Announces Second Quarter 2021 Results". July 28, 2021. https://sec.report/Document/0001104659-21-097054/#tm2123565d1_ex99-1.htm. 
  31. ↑ Cassidy, William (September 3, 2021). "After 10 years, XPO still surprises". https://williambcassidy.substack.com/p/after-10-years-xpo-still-surprises. 
  32. ↑ Espinosa, Manuel (May 3, 2022). "Las 75 mejores empresas para trabajar". https://en.wikipedia.org/wiki/XPO_Logistics?action=edit. 
  33. ↑ O'Neal, Lydia (March 8, 2022). "XPO Logistics to Spin Off Freight Brokerage, Exit Intermodal and Europe Business". https://wsj-articles-legacy.sc.onservo.com/articles/xpo-logistics-to-spin-off-freight-brokerage-11646773380. 
  34. ↑ "Deutsche Bank turns bullish on transports for 2020". September 24, 2019. https://www.freightwaves.com/news/deutsche-bank-turns-bullish-on-transports-for-2020. 
  35. ↑ "US logistics group XPO buying France's Dentressangle". Business Insider. April 28, 2014. http://www.businessinsider.com/afp-us-logistics-group-xpo-buying-frances-dentressangle-2015-4?IR=T. 
  36. ↑ Picker, Leslie (April 28, 2015). "XPO Logistics Buying Norbert in $3.53 Billion European Deal". bloomberg.com. https://www.bloomberg.com/news/articles/2015-04-28/xpo-logistics-to-buy-norbert-in-3-53-billion-european-expansion. 
  37. ↑ 37.0 37.1 Brian P. Ossenbeck (July 11, 2016). North American Equity Research: XPO Logistics (Report). JP Morgan. p. 8. 
  38. ↑ Ronan, Dan (January 19, 2022). "XPO Announces Expansion of LTL Network". https://www.ttnews.com/articles/xpo-announces-expansion-ltl-network. 
  39. ↑ Kilcarr, Sean (September 10, 2015). "XPO Logistics to buy Con-way for $3 billion". Fleet Owner. http://fleetowner.com/fleet-management/xpo-logistics-buy-con-way-3-billion. 
  40. ↑ Kulisch, Eric (September 20, 2015). "XPO goes long in LTL". American Shipper. http://www.americanshipper.com/main/news/xpo-goes-long-in-ltl-61477.aspx. 
  41. ↑ Gilroy, Roger (March 25, 2022). "XPO Ramps Up Trailer Production in Arkansas". https://www.ttnews.com/articles/xpo-ramps-trailer-production-arkansas. 
  42. ↑ Stocking, Richard (April 8, 2022). "Trucking is changing. Are you adapting?". https://www.ccjdigital.com/business/article/15290546/are-you-adapting-to-changes-in-the-trucking-industry. 
  43. ↑ Coker, Ashley (January 11, 2022). "XPO tackles labor shortages with multipronged approach". https://www.freightwaves.com/news/xpo-tackles-labor-shortages-with-multipronged-approach. 
  44. ↑ Britni, Chisenall (February 28, 2022). "XPO outperforming the market with technology". https://www.freightwaves.com/news/xpo-outperforming-the-market-with-technology. 
  45. ↑ "XPO to roll out new last mile technology offering in November". http://www.logisticsmgmt.com/article/xpo_to_roll_out_new_last_mile_technology_offering_in_november. 
  46. ↑ Cornell, Joe (March 11, 202). "XPO Logistics To Spin-Off Its Brokerage Business Into A Separate Publicly Traded Company". https://www.forbes.com/sites/joecornell/2022/03/11/xpo-logistics-to-spin-off-its-brokerage-business-into-a-separate-publicly-traded-company/?sh=5c1ca28453b9. 
  47. ↑ "XPO to Purchase Con-way". Transport Topics. https://www.ttnews.com/articles/printopt.aspx?storyid=39411. 
  48. ↑ "XPO Completes Con-way Purchase; Picks LTL Chief, Begins Cost Cuts". Transport Topics. http://www.ttnews.com/gateclient/premiumstorylogin.aspx?storyid=39999. 
  49. ↑ FreightWaves (September 23, 2019). "Traditional Freight Brokers Investing Millions To Stay On Top". https://www.benzinga.com/news/19/09/14475326/traditional-freight-brokers-investing-millions-to-stay-on-top. 
  50. ↑ O'Neal, Lydia (May 9, 2022). "XPO Logistics Names CEO for New Freight Spinoff". https://www.wsj.com/articles/xpo-logistics-names-ceo-for-new-freight-spinoff-11652126580?mod=Searchresults_pos1&page=1. 
  51. ↑ Northington, Laurie (June 9, 2022). "XPO Taps Yoav Amiel as Chief Information Officer for Spin-Off". http://hfbusiness.com/hfbnow/articleid/22560/xpo-taps-yoav-amiel-as-chief-information-officer-for-spin-off. 
  52. ↑ Berman, Jeff (July 12, 2022). "XPO Logistics rolls out RXO as the name for its planned Q4 spin-off". https://www.logisticsmgmt.com/article/xpo_logistics_rolls_out_rxo_as_the_name_for_its_planned_q4_spin_off. 
  53. ↑ "XPO Names New Tech Brokerage Company RXO". July 12, 2022. https://www.ttnews.com/articles/xpo-names-new-tech-brokerage-company-rxo. 
  54. ↑ "XPO Logistics Announces Plan to Create Two Standalone, Publicly Traded Industry Leaders in Less-Than-Truckload and Tech-Enabled Brokered Transportation". XPO Logistics. https://news.xpo.com/2750/spin-news-2022/. 
  55. ↑ 55.0 55.1 "XPO Logistics's Sustainability Report for 2020Q4". https://xpodotcom.azureedge.net/xpo/files/s18/2020_XPO_Sustainability_Report_-_0423.pdf.  Alt URL
  56. ↑ Buss, Dale (February 11, 2022). "12 Ways Companies Are Boosting Their DEI". https://chiefexecutive.net/12-ways-companies-are-boosting-their-dei/. 
  57. ↑ "XPO Logistics Holds Second UK Women Drivers Forum". March 8, 2022. https://www.fenews.co.uk/employability/xpo-logistics-holds-second-uk-women-drivers-forum/. 
  58. ↑ Camero, Saúl (June 14, 2022). "XPO Logistics avanza en sus iniciativas de sostenibilidad". https://www.transporteprofesional.es/ultimas-noticias/xpo-logistics-avanza-en-sus-iniciativas-de-sostenibilidad. 
  59. ↑ De Sousa, Marc (June 10, 2022). "XPO Logistics renouvelle son adhésion à la Charte Objectif CO2". https://www.franceroutes.fr/actualites/xpo-logistics-renouvelle-son-adhesion-a-la-charte-objectif-co2/. 
  60. ↑ "XPO Logistics's Sustainability Report for 2020Q4". https://xpodotcom.azureedge.net/xpo/files/s18/2020_XPO_Sustainability_Report_-_0423.pdf.  Alt URL
  61. ↑ "XPO Logistics's Sustainability Report for 2020Q4". https://xpodotcom.azureedge.net/xpo/files/s18/2020_XPO_Sustainability_Report_-_0423.pdf.  Alt URL
  62. ↑ "XPO Logistics's Sustainability Report for 2020Q4". https://xpodotcom.azureedge.net/xpo/files/s18/2020_XPO_Sustainability_Report_-_0423.pdf.  Alt URL
  63. ↑ DePillis, Lydia (July 15, 2019). "America's addiction to absurdly fast shipping has a hidden cost". CNN. https://www.cnn.com/2019/07/15/business/fast-shipping-environmental-impact/index.html. 
  64. ↑ Stinson, Jim (March 12, 2019). "XPO Installs Two Tech Platforms to Meet Freight Challenges". Transport Topics. https://www.ttnews.com/articles/xpo-installs-two-tech-platforms-meet-freight-challenges-0. 
  65. ↑ Shah, Agam. "Government Urged to Boost R&D Spending". https://www.wsj.com/articles/government-urged-to-boost-r-d-spending-11568845701. 
  66. ↑ Matthews, Kayla (September 25, 2019). "Six Advanced Technologies that Could Assist in LTL Shipping". https://www.freightwaves.com/news/six-advanced-technologies-that-could-assist-in-ltl-shipping. 
  67. ↑ Cassidy, William and Hugh R. Morley (March 3, 2020). "XPO’s Jacobs aims to ‘revolutionize’ LTL". https://www.joc.com/trucking-logistics/ltl-trucking-logistics/xpo%E2%80%99s-jacobs-aims-%E2%80%98revolutionize%E2%80%99-ltl_20200303.html. 
  68. ↑ "XPO Logistics joins MIT's Industrial Liaison Program – DC Velocity". http://www.dcvelocity.com/articles/20191024-xpo-logistics-joins-mit---s-industrial-liaison-program/. 
  69. ↑ "XPO enters into partnership with MIT's Industrial Liaison Program and adds new board member". https://www.logisticsmgmt.com/article/xpo_enters_into_partnership_with_mits_industrial_liaison_program_and_adds_n. 
  70. ↑ "The Morning Download: New Iron Mountain CIO Comes With G Suite". http://createsend.com/t/d-700039F890090DCE2540EF23F30FEDED?mod=article_inline. 
  71. ↑ "XPO Connect has a chance to make a statement for incumbent logistics providers in the digital marketplace". FreightWaves. https://www.freightwaves.com/news/technology-xpo-connect-has-a-chance-to-make-a-statement. 
  72. ↑ "XPO Logistics is expanding its digital platform to Europe". March 11, 2019. https://www.businessinsider.com/xpo-logistics-connect-access-europe-2019-3. 
  73. ↑ "XPO Logistics identifies four top technology priorities". http://www.supplychainquarterly.com/news/20170925-xpo-logistics-identifies-four-top-technology-priorities/. 
  74. ↑ Tindall, Chris (June 29, 2022). "XPO expands use of biofuel for Tour de France contract". https://motortransport.co.uk/blog/2022/06/29/xpo-expands-use-of-biofuel-for-tour-de-france-contract/?utm_source=twitter&utm_medium=dlvrit&utm_campaign=TWITTER_%7C_News_MT. 
  75. ↑ 75.0 75.1 "XPO Logistics to Move the Tour de France for Another Six Years". Greenwich, Connecticut. July 3, 2019. https://finance.yahoo.com/news/xpo-logistics-move-tour-france-113101694.html. 
  76. ↑ "Golf: XPO Logistics nominato partner ufficiale per i trasporti della Evian Championship" (in it-IT). SPORTFAIR. September 15, 2017. http://www.sportfair.it/2017/09/golf-xpo-logistics-nominato-partner-ufficiale-per-i-trasporti-della-evian-championship/603897/. 
  77. ↑ "XPO Logistics Keeps the Tour de France on the Road for the 37th Year". XPO Logistics Europe. https://europe.xpo.com/en/news/xpo-logistics-keeps-tour-de-france-road-37th-year. 
  78. ↑ "XPO Logistics Mobile Game Invites Players to Move the Tour de France". XPO Logistics Europe. https://europe.xpo.com/en/news/2013/xpo-logistics-mobile-game-invites-players-to-move-the-tour-de-france. 
  79. ↑ "XPO Moves The Tour: The Game". https://apps.apple.com/us/app/xpo-moves-the-tour-the-game/id1470472916. 

External links




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