Business, Freight News, Logistics

E-commerce drives XPO Logistics to record quarterly profit

[ November 6, 2017   //   ]

Reuters reports that XPO Logistics Inc posted a record quarterly profit on November 1, fueled by e-commerce demand for its contract logistics and “last mile” deliveries to households, along with shipments of consumer goods and a strong truck brokerage market.

The third-largest publicly traded U.S. logistics company also reaffirmed its full-year forecasts for adjusted pre-tax earnings of at least $1.37 billion in 2017 and $1.6 billion in 2018, and its appetite for rapid-fire acquisitions.

“We generated the highest revenue, net income and cash flow of any quarter in our history,” Chief Executive Officer Brad Jacobs told Reuters in a telephone interview.

XPO is a big player in e-commerce deliveries through its contract logistics and “last-mile” services for heavy goods in North America and Europe.