English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

XPO reports first net profit in five years

GREENWICH, CT: February 22, 2017. XPO Logistics has reported an attributable net profit of US$63.1 million on gross revenue of US$14.61 billion for 2016.

Interest expense for the period was US$361.1 million - up from US$216.7 million in 2015 – for a total of US$577.8 million in the past two years.

Net revenue in 2016 was US$2.66 billion, up from US$1.20 billion year-on-year, with North American LTL services contributing US$1.37 billion, followed by total 'Europe' revenues of US$557.7 million.

XPO LogisticsBrokerage services in North America produced US$361.4 million, a drop from US$392.3 million in 2015; Last mile revenue rose from US$204.3 million to US$247.7 million in 2016, while the company's FTL business tripled in revenue from US$20 million to US$66.1 million year-on-year.

In October last year XPO sold its truckload business to Canadian logistics company Transforce for US$558 million.

The company said it expects an adjusted EBITDA of $1.35 billion in 2017 and US$1.57 billion in 2018, compared to US$1.25 billion in 2016 that excluded $103.2 million of transaction, integration and rebranding costs.

"This year, we'll get the full 12-month benefit of numerous efficiencies we implemented throughout 2016 in procurement, real estate, back office operations and workplace technologies," commented XPO chairman and CEO Bradley Jacobs. "We have more savings to realize in each of these areas, along with cross dock and warehouse automation, labor productivity and the global adoption of best practices."

Jacobs said he was pleased the company's fourth quarter delivered record net income, cash flow from operations, adjusted EBITDA and free cash flow. He cited e-commerce as the driver for last mile and contract logistics growth.

"Our less-than- truckload operations in North America capped an outstanding year with a 40 percent increase in fourth quarter adjusted operating income," he added.

More News

Written on 24/06/2017, 17:49
delta-and-korean-expand-partnershipATLANTA/SEOUL: June 23, 2017: Delta Air Lines and Korean Air are to create a trans-Pacific joint venture for passenger and cargo services. Subject to...
Written on 23/06/2017, 17:12
airlines-show-they-careSINGAPORE: June 22, 2017. Lufthansa Cargo, Swiss WorldCargo, United Cargo and Emirates SkyCargo have won DHL's 'Carrier Award for Reliability and...
Written on 23/06/2017, 15:27
a-good-week-for-qatar-airwaysDOHA: June 23, 2017. Notwithstanding a list of political demands on Qatar from some of its neighbors today, Qatar Airlines CEO Akbar Al Baker appears to...
Written on 22/06/2017, 21:24
project-cargo-gets-new-liftLE BOURGET: June 22, 2017. Lockheed Martin launched its latest commercial variant of the ubiquitous Super Hercules transport – the LM-100J – at the Paris...
Written on 20/06/2017, 21:31
us-500-million-for-hybrid-airshipsPARIS, June 20, 2017. Hybrid Air Freighters (HAF) has signed a Letter of Intent to purchase up to 12 Lockheed Martin Hybrid Airships for US$500 million...
Written on 20/06/2017, 19:03
ethiopian-adds-more-b777-freightersLE BOURGET, France: June 20, 2017. Ethiopian Airlines is adding to its fleet of six B777 freighters with the purchase of two more with a list price of...
Written on 19/06/2017, 13:44
freightweek-news-update-week-25BUCHAREST: June 22, 2017. Albalact – Romania's largest dairy company – has renewed its contract with Tibbett Logistics to provide delivery of dairy...
Written on 13/06/2017, 22:19
emirates-sky-cargo-begins-luxembourg-serviceDUBAI/ LUXEMBOURG: June 13, 2017. Emirates SkyCargo began its first weekly B777 freighter service to Luxembourg this week as part of its strategic...
Written on 13/06/2017, 21:31
cma-cgm-to-buy-maersk-s-mercosul-subsidiaryCOPENHAGEN/MARSEILLE: June 13, 2017. A.P. Møller – Mærsk has confirmed the sale of its Mercosul Line subsidiary to CMA CGM to avoid market dominance...
Written on 12/06/2017, 13:37
freightweek-news-update-week-24PORT ELIZABETH, NJ: June 15, 2017. The Ocean Alliance has begun its first weekly U.S. East Coast Loop 3 service with a call by the 8,700 TEU capacity CMA...
Written on 09/06/2017, 21:41
antonov-makes-last-minute-andean-liftMENDOZA, Argentina: June 07, 2017. Antonov used an AN124-100 in late May to move mining equipment weighing a total of 24 tonnes from Santiago, Chile to...
Written on 08/06/2017, 22:41
turkish-cargo-gets-the-word-out-and-the-business-inISTANBUL: June 08, 2017. Turkish Airlines has reported a gross profit of US$117 million on revenue of US$1.93 billion for Q1 2017 as the contribution...
Written on 08/06/2017, 20:37
customs-and-air-cargo-belgium-to-share-visionBRUSSELS: June 07, 2017. Belgian Customs and sector representative Air Cargo Belgium have agreed to "execute a common vision concerning the optimization...
Written on 08/06/2017, 19:40
schiphol-pharma-gateway-adds-abcAMSTERDAM: June 07, 2017. AirBridgeCargo Airlines (ABC) has become the second airline and 14th member of the Pharma Gateway Amsterdam (PGA) initiative...
Written on 07/06/2017, 15:47
ups-suspends-pick-ups-for-qatar-as-embargo-continuesATLANTA: June 06, 2017 UPS has informed its customers that direct import and export to and from Qatar is not be possible, following the decision by...
Written on 06/06/2017, 19:00
maskargo-boost-to-malaysia-ecommerceKULA LUMPUR: June 06, 2017. MASkargo has begun a five times weekly A330 freighter service between Kuala Lumpur International Airport (KIA), Kota Kinabalu...
Written on 06/06/2017, 15:51
delta-and-aeromexico-sign-transborder-agreementATLANTA/MEXICO CITY: June 06, 2017. Delta Cargo and Aeromexico Cargo have signed a sales, operations and marketing agreement to develop the transborder...
Written on 05/06/2017, 14:21
freightweek-news-june-05-09MARSEILLE: June 09, 2017. CMA CGM is to introduce a new box service linking the East Mediterranean, Djibouti, Gulf, Pakistan and India. Read...
Written on 31/05/2017, 21:02
big-jump-in-gross-profit-for-gefcoCOURBEVOIE, France: May 30, 2017. Gefco, the automotive logistics specialist owned by RZD Russian Railways, has reported a 1.3 percent increase in revenue...
Written on 31/05/2017, 15:32
bertschi-award-winning-tanks-head-westDURRENASCH, Switzerland: May 29, 2017. Liquid logistics specialist Bertschi has begun an 18-day movement of 82 ISO tank containers from Korla in Western...

- powered by Quickchilli.com -