Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

XPO Logistics Halves Loss, Acquires Bridge Terminal Transport

Freight transportation and logistics provider, XPO Logistics Inc., announced it had narrowed its first quarter loss while it has reached an agreement to purchase Bridge Terminal Transport Services Inc.

by Staff
May 4, 2015
XPO Logistics Halves Loss, Acquires Bridge Terminal Transport

 

3 min to read


Freight transportation and logistics provider, XPO Logistics Inc., announced it had narrowed its first quarter loss while it has reached an agreement to purchase Bridge Terminal Transport Services Inc.

It reported a net loss of $14.7 million for the quarter, compared with a net loss of $28.3 million for the same period in 2014, or 20 cents per diluted share, compared with a net loss of 70 cents per diluted share a year earlier.

Ad Loading...

Total gross revenue increased 148.9% year-over-year to $703 million.

"Our first quarter performance reflects the resilience of our diversified service offering,” said Bradley Jacobs, chairman and CEO. “We generated strong results in our last mile and expedite businesses, and in our logistics segment. These gains were offset by a weak spot market for freight brokerage and the disruption of our intermodal business due to the West Coast port slowdowns. March was a more broadly favorable operating environment, with an upswing that continued into April."

The Connecticut-based company also said it entered into a definitive agreement to acquire Bridge Terminal Transport Services Inc., one of the largest asset-light drayage providers in the United States.

Ad Loading...

The $100 million transaction, subject to regulatory review, is expected to close in the second quarter of 2015.

BTT had revenue of $232 million for the 12 months ending March 31.

In business for 33 years, BTT arranges ground transportation through a network of 28 terminals and approximately 1,300 independent owner operators, with approximately 250 employees and 1,800 customers, according to XPO.

“Our purchase of BTT will almost triple our drayage capacity to over 2,000 independent owner operators,” said Jacobs. “When we close the transaction, we'll have approximately 6,200 independent owner operators in our network, providing service to our customers in intermodal, last mile and expedite. We'll integrate BTT and rebrand the operations under our single, global brand of XPO Logistics."

The news comes just a few days after XPO said it would to acquire a majority interest in the France-based Norbert Dentressangle, a global provider of contract logistics, for about $3.5 billion.

Ad Loading...

Plans also call for XPO to launch a tender offer for the remaining shares.

"This is a defining moment in the growth of XPO,” said Jacobs. “Our planned acquisition of Norbert Dentressangle will catapult XPO to a top ten global logistics company. It will more than triple our EBITDA (earnings before interest, taxes, depreciation and amortization) to $545 million and increase our revenue to about $8.5 billion upon completion of the tender offer, nearly achieving our 2017 financial targets two years ahead of plan."

In light of XPO's acquisitions, the company has raised its 2015 targets to an annual revenue run rate of at least $9.5 billion and an annual EBITDA run rate of at least $625 million by December 31, more than twice its EBITDA target three months ago.

More Fleet Management

Four men in suits on the National Mall with giant video screen showing capitol building in the background
Fleet Managementby Deborah LockridgeAugust 24, 2026

American Trucking Associations Looks for a New Leader

ATA President and CEO Chris Spear abruptly left his job at the association on August 21, at a pivotal time for the trucking industry.

Read More →
The Cyber Stop column header with photo of a smiling driver in truck with a laptop and a wi-fi icon
Fleet ManagementAugust 21, 2026

Public Wi-Fi Cybersecurity Risks: How Truck Drivers and Fleets Can Protect Their Data

Public Wi-Fi can expose truck drivers and fleets to credential theft, malware, and other cyber threats. Here’s how to reduce the risk on the road.

Read More →
Woman in white blazer superimposed on background showing a row of Fraley & Schilling truck, plus the HDT Truck Fleet Innovators 2026 logo
Fleet Managementby Deborah LockridgeAugust 19, 2026

For Nicky Cupp, Fleet Innovation Starts With Frustration

HDT Truck Fleet Innovator Nicky Cupp turns everyday pain points at Fraley & Schilling into opportunities for better technology and smarter processes.

Read More →
Ad Loading...
Headshot of Adam Buttgenbach with a Pepsi-branded Tesla Semi in the background
Fleet Managementby Deborah LockridgeAugust 18, 2026

Adam Buttgenbach’s Approach to Electric Trucks: Start With Where They Fit

HDT Truck Fleet Innovator Adam Buttgenbach helped PepsiCo build one of North America’s largest EV fleets by focusing on where electric trucks make operational sense.

Read More →
Deen Albert in collared shirt superimposed on background showing a Grand Island Express blue tractor pulling a trailer, plus the HDT Truck Fleet Innovators 2026 logo
Fleet Managementby Deborah LockridgeAugust 17, 2026

Deen Albert: Let Automation Do the Math, People Make the Decisions

HDT Truck Fleet Innovator Deen Albert makes sure people are still at the heart of operations at Grand Island Express, even while adopting artificial intelligence tools. AI-assisted dispatch helped boost revenue 25% with the same number of trucks.

Read More →
Illustration of computer screen with Trimble Arc Agent screen
Fleet Managementby Deborah LockridgeAugust 14, 2026

Trimble’s New AI Agent Takes Aim at Fleet Back-Office Busywork

Arc Agent works across Trimble TMS products to automate repetitive tasks such as freight orders, maintenance, invoices, fuel costs and more.

Read More →
Ad Loading...
Photos of three men and two women with HDT Truck Fleet Innovators 2026 logo
Fleet ManagementCover Storyby Deborah LockridgeAugust 13, 2026

How HDT’s 2026 Truck Fleet Innovators Are Rethinking Fleet Operations

Meet five trucking leaders who are challenging assumptions, solving operational problems, and putting innovative ideas to work.

Read More →
Graph showing how contract rates and spot rates converged in July
Fleet Managementby StaffAugust 12, 2026

Tight Trucking Capacity Pushes Rates Higher Even as Freight Volumes Fall

“Spot rates moving ahead of contract rates have historically signaled a tightening market, but we haven’t seen a capacity-driven market quite like this one,” said DAT's Dean Croke.

Read More →
Line graph showing container import volumes
Fleet Managementby StaffAugust 7, 2026

Import Cargo’s Early Peak Season is Winding Down

There was an early start to peak season this year at the nation's gateway ports, as retailers brought in merchandise ahead of tariff changes in late July and responded to other supply chain uncertainties,

Read More →
Ad Loading...
Blue infographic with graphs illustrating cargo theft trends in the second quarter of 2026
Fleet Managementby Deborah LockridgeAugust 6, 2026

Fewer Cargo Thefts, Bigger Losses: Criminals Target Higher-Value Loads

CargoNet says organized theft rings are stealing fewer shipments but choosing more valuable freight, including metals and technology, resulting in record losses.

Read More →