Transport Topics Online
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
7/29/2014 5:10:00 PM Write a Letter to the Editor Write a letter to the Editor

XPO Logistics Trims 2Q Loss, Plans Acquisition


XPO Logistics

XPO Logistics said it narrowed its second-quarter loss and announced an agreement to acquire New Breed Holding Co. for about $615 million.

XPO’s net loss was $14.5 million, compared with a loss of $18.1 million in the same period last year. On a per-share basis, the third-party logistics provider’s loss was 28 cents, compared with a loss of $1 a year earlier.

Revenue more than quadrupled to $581 million from $137.1 million a year ago.

Net revenue jumped to $121.9 million, a six-fold increase from $19.3 million in last year’s quarter.

“In the second quarter, we outperformed a favorable brokerage environment and delivered strong results across the board,” XPO Chairman and CEO Bradley Jacobs said.

He said XPO generated 49% organic growth on a companywide basis and 67% organic growth in its freight brokerage unit.

XPO said it expects the acquisition of New Breed to close in the third quarter. New Breed provides logistics services for omni-channel distribution, reverse logistics, transportation management and freight bill audit and payment.

XPO also said it has completed acquiring third-party logistics provider Atlantic Central Logistics for about $36.5 million.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2014, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement