XPO Reports 1Q Loss, Buys Logistics Firm

XPO Logistics reported a first-quarter loss and said it had acquired Salt Lake City-based Interide Logistics for $3.1 million.

XPO lost $15.3 million, or 85 cents per share, compared with a loss of $3.4 million, or 36 cents, a year ago. Revenue rose to $114 million from $45 million.

Interide Logistics, a freight brokerage company, generated about $28 million in the 12 months ended March 31, XPO said.

XPO reaffirmed its full-year outlook of an annual revenue run rate of more than $1 billion, and positive earnings before taxes for the fourth quarter.