- 11 February 2021
- Transport / Logistics Services
XPO Logistics Inc has declared its largest ever fourth quarter revenue in 2020 that grew to $4.67 billion as against $4.14bn in the same period in 2019. Operating income hit $228 million as against $202 million in Q4 of 2019.
This was driven in a large part by the changing economic environment brought about by the global pandemic.
Brad Jacobs, chairman and chief executive officer of XPO Logistics, said, “Our fourth quarter revenue, earnings and free cash flow were all much better than expected. The investments we made in our people and technology in 2020 helped us to generate the highest revenue of any quarter in our history. We also doubled our truck brokerage net revenue year-over-year, and we improved our fourth quarter LTL adjusted operating ratio, excluding real estate gains, for the sixth straight year. The industry’s biggest tailwinds are at our back in 2021 — e-commerce fulfilment and returns, supply chain outsourcing and fast-growing customer demand for our digital capabilities.”