XPO overcomes weak market to post strong Q4 earnings
American road freight operator XPO today posted 6% year-on-year revenue growth for the fourth quarter ...
Supply Chain Dive writes:
– Bradley Jacobs, XPO Logistics CEO, told a webinar audience on Monday that he is open to acquiring new companies once the existing XPO model is split into two parts. The company plans to split into a “pure play” LTL company and a logistics company.
– “We expect to grow both organically and inorganically, through acquisitions in both of the companies — the transportation company and the contract logistics company,” Jacobs said when asked about XPO’s dual future. XPO announced in December that it will split into two separate entities, a move to be finalized in the second half of 2021.
– The remarks indicate Jacobs, a longtime investor and M&A expert, has not dropped his plans to make acquisitions simply because XPO is splitting into two parts. Jacobs made the remarks during the SMC3 Jump Start 2021, an annual conference held online this year because of COVID-19.
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