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XPO Logistics moved well into the black for the fourth quarter and full year 2016, with a number of fourth-quarter metrics setting company records as strong e-commerce offset weak intermodal numbers.
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Transportation and logistics solutions provider XPO Logistics has been awarded a supply chain contract from Cummins to support its global customer base with parts distribution.
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While many trucking operations have reported lower third quarter profits during this earnings season, there were two exceptions on Wednesday.
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Longtime employees of TransForce’s new acquisition in Joplin, Mo., are proudly digging out their old CFI shirts, as the company founded in 1951 as Contract Freighters Inc. goes back to its roots and its name under its new ownership.
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XPO Logistics Inc. (NYSE: XPO) announced Thursday that it has sold its truckload business to Canada's growing trucking concern TransForce Inc. (TSX: TFI) for approximately $558 million in cash.
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Two trucking operations reported their second-quarter financials on Wednesday, with one reporting its first profit since purchasing LTL carrier Con-way last year, while the other reported a loss that was attributed to falling rates and freight volume.
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Big mergers and acquisitions deals changed the third-party logistics market in 2016, with XPO Logistics leading the way with $100 million worth of deals.
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Loose capacity and a sluggish economy in the first quarter helped drive down earnings for Roadrunner, XPO and USA Truck.
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Despite greatly increased revenue in the final quarter of last year and for all of 2015, the fleet that purchased Con-way last year reported bigger losses.
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XPO Logistics Freight is suing rival less-than-truckload carrier YRC Freight for allegedly hiring employees from the company in order to obtain important trade secrets.
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