XPO Logistics (XPO) Posts Smaller Q2 Loss

XPO Logistics (NYSE: XPO) reported Q2 EPS of ($0.22), $0.04 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $581 million versus the consensus estimate of $551.31 million.

Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, "In the second quarter, we outperformed a favorable brokerage environment and delivered strong results across the board. Our gross revenue, volume, net revenue margin and EBITDA all came in significantly ahead of plan. We reported robust organic growth of 49% company-wide, and in our freight brokerage unit, we generated outsized organic growth of 67%. We accomplished this by capitalizing on our increasing scale and lane density, and by improving the productivity of our sales force.

"Jacobs continued, "We're very bullish about the two acquisitions we announced today. New Breed is the Rolls Royce of contract logistics - the preeminent provider of high margin, technology-intense, engineered solutions for blue chip customers. This will be a transformational addition to our service offering and a major increase in scale. Our XPO network will grow to more than 200 locations and approximately 10,000 employees. We'll offer the most comprehensive range of logistics services in North America, with world-class technology and expertise."

For earnings history and earnings-related data on XPO Logistics (XPO) click here.

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