XPO reports $3.89bn Q3 revenue

XPO Logistics has announced a revenue of $3.89bn for the third quarter (Q3) of 2017, up from $3.71bn last year.

Revenue increased year-over-year by $305.1m, excluding Q3 2016 revenue of $131.8m from the North American truckload unit divested in October 2016.

Net income attributable to common shareholders was $57.5m for the quarter, compared with net income attributable to common shareholders of $13.8 million for the same period in 2016.

Commenting on the results, Bradley Jacobs, chairman and chief executive officer of XPO Logistics, said, “In the third quarter, we generated the highest revenue, net income and cash flow of any quarter in our history, and our $370 million of adjusted EBITDA beat expectations. We benefited from positive market dynamics, including e-commerce demand for contract logistics and last mile, growth in intermodal, and a brokerage market that is trending in our favor. Our diversification is yielding results.

“We’re executing major initiatives around pricing, utilization and sales productivity to capitalize on the large opportunities at hand. Our sales force has closed $2.1 billion of new business through September, up 49%, and our pipeline continues to exceed $3 billion globally. These levers, combined with our leading positions in key sectors, are fueling organic growth that continues to outpace the industry. We’re exploring acquisition opportunities that will augment this momentum.”