Revenues up at XPO Logistics

Revenues at XPO Logistics were up to $4.19bn in Q4 of 2017, up from $3.68bn in the same period in 2016.

In a statement, Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said: “I’m pleased that we beat fourth quarter expectations for revenue, EPS, adjusted EBITDA, cash flow from operations and free cash flow. We generated outsized organic revenue growth of 10.4%, led by gains in freight brokerage, last mile and contract logistics. A strong holiday peak played directly to our strengths in e-commerce.

“In our transportation segment, we grew freight brokerage revenue by 33%, and increased net revenue margin in a tight market. Our North American less-than-truckload unit increased operating income by 44% year-over-year and improved its adjusted operating ratio to 89.9% – the best fourth quarter ratio in 12 years. We expect to improve the ratio by another 100 to 200 basis points in 2018. Globally, in both transportation and logistics, we capitalized on a strong economy in every country where we operate.

“We’ve entered 2018 with a global sales pipeline of $3.2 billion, following a record $2.8 billion of new business signed in 2017. We expect to increase adjusted EBITDA by at least another 17% and deliver about $625 million of free cash flow this year, while investing heavily in technology and sales force effectiveness.”