XPO Logistics has announced its financial results for the fourth quarter 2020, reporting an increase in revenue to $4.67bn, compared with $4.14bn for Q4 2019. Operating income was $228m in Q4 2020, compared with $202m for Q4 2019. For the full year 2020, the company reported total revenue of $16.25bn, compared with $16.65bn for 2019. Operating income was $391m for 2020, compared with $821m for 2019.
Transportation
Its transportation segment showed a revenue of $10.2bn for the full year, a 4.6% decrease Y-o-Y; while operating income for FY20 decreased by 32.6%, to $507m. The regional and sub-division breakdown for its Transportation segment is as following:
North America FY20
Europe FY20
Global Forwarding: $300m, compared to $299m FY19
Logistics
Revenue for its Logistics segment showed a 1.5% increase Y-o-Y, to $6.2bn for FY20, while its operating income dropped by 41.9% to $140m, from $241m in FY19. In Q4 2020, segment revenue growth was led by strong demand from e-commerce and other consumer-related verticals, partially offset by COVID-related impacts.
Its revenue for North America is reported to be $2.4bn 2020, compared to $2.5bn for FY19. Revenue in its Logistics segment for Europe on the other hand showed revenues of $3.8bn, compared to $3.6bn in FY19.
Brad Jacobs, chairman and chief executive officer of XPO Logistics, said, “Our fourth quarter revenue, earnings and free cash flow were all much better than expected. The investments we made in our people and technology in 2020 helped us to generate the highest revenue of any quarter in our history. We also doubled our truck brokerage net revenue year-over-year, and we improved our fourth quarter LTL adjusted operating ratio, excluding real estate gains, for the sixth straight year. The industry’s biggest tailwinds are at our back in 2021 — e-commerce fulfilment and returns, supply chain outsourcing and fast-growing customer demand for our digital capabilities.”
Source: XPO
