Greenwich, Conn.-based freight transportation and global logistics services provider XPO Logistics posted its best-ever revenue number, in its second quarter earnings results, which were issued late yesterday.
Quarterly revenue—at $5.04 billion—was up 30.6% annually, and adjusted EBITDA came in at $507 million, both setting new quarterly records, setting a new adjusted EBITDA number for the fourth straight quarter. Operating income—at $246 million—well outpaced a $141 million operating loss a year ago.
An XPO spokesman cited various factors for the record-breaking quarter, including: technology being a major driver, ongoing e-commerce strength, and some big new business wins. What’s more, he noted how the pending spin-off of its global contract logistics arm, GXO, which it said will be the “largest pure-play contract logistics company in the world,” is set for next week.
“We’re operating at a higher level than we ever have in company history,” said the XPO spokesman.
Quarterly XPO performance metrics:
“We continued to execute extremely well in the second quarter, reporting near-record net income and the highest revenue and adjusted EBITDA of any quarter in our company’s history,” said XPO Logistics Chairman and CEO Brad Jacobs in a statement. “We’ve given our transportation and logistics segments a strong springboard for the planned spin-off next week, when they’ll move forward independently as XPO and GXO.”