Feb 21 XPO Logistics Inc reported a 10
percent jump in its quarterly revenue, driven by strong demand
from ecommerce customers.
The company, which has grown through a number of deals over
the last few years, also said its acquisition of trucking
company Con-way in 2015 boosted its two main businesses.
Sales at its logistics business, under which the company
offers services such as warehousing and distribution, rose 8.6
percent to $1.38 billion in the fourth quarter ended Dec. 31.
Revenue from the company's transportation business rose 10.8
percent to $2.33 billion. The unit includes truck brokerage and
its less-than-truckload services.
"The prospect of lowering taxes and decreasing government
regulations is giving optimism, particularly in our
less-than-truckload and truck brokerage businesses," Chief
Executive Bradley Jacobs told Reuters.
The company sold its truckload shipping business, acquired
as part of its $3 billion Con-way deal, to Canadian trucking
company TransForce Inc for $558 million in October.
Net income attributable to shareholders was $27.3 million,
or 22 cents per share, in the latest quarter, compared with a
loss of $62.8 million, or 58 cents per share, a year earlier.
Excluding items, the company earned 24 cents per share.
Revenue rose to $3.68 billion from $3.34 billion.
Greenwich, Connecticut-based XPO also reaffirmed its full
year target for adjusted EBITDA of at least $1.35 billion for
2017 and $1.58 billion for 2018.
The company's customers include General Motors Co,
Kellogg Co and Home Depot Inc among others.
(Reporting by Arunima Banerjee in Bengaluru; Editing by Anil