XPO announces record growth in 2016

US corporation XPO Logistics has announced financial results for the fourth quarter and full year 2016 – identifying its strongest growth in last mile and contract logistics, driven primarily by e-commerce.

For the fourth quarter of 2016, revenue increased 10 per cent year-over-year to $3.68 billion, and for the full year 2016, the company reported total revenue of $14.62 billion – a 91.8 per cent increase from 2015.

“I'm pleased that we delivered record fourth quarter results for net income, cash flow from operations, adjusted EBITDA and free cash flow,” said Bradley Jacobs, Chairman AND Chief Executive Officer of XPO Logistics.

“Our less-than-truckload operations in North America capped an outstanding year with a 40 per cent increase in fourth quarter adjusted operating income.

The company's transportation segment generated total revenue of US$2.33 billion (€2.2 billion) for the quarter, compared with US$2.10 billion (€1.99 billion) for the same period in 2015.

The year-over-year increase in revenue was reportedly due to the acquisition of Con-way on October 30, 2015, and to organic growth in both North America and Europe.

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