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XPO Q2 profit off 67.7pc to US$31 million on sales decline of 6.7pc
来源：shippingazette 编辑：编辑部 发布：2023/08/14 09:06:06
CONNECTICUT based XPO Logistics posted a 67.7 per cent year-on-year second quarter net profit decline to US$31 million, drawn on revenues of $1.92 billion, down 6.7 per cent.
Operating income was $107 million for the second quarter for the less-than-truckload (LTL) North American operator, compared with $171 million for the same period in 2022.
"Our business performed above expectations in the second quarter, delivering adjusted EBITDA of $244 million and adjusted diluted EPS of $0.71," said XPO chief executive Mario Harik.
"In North American LTL, we sequentially improved our adjusted operating ratio more than our forecast and operated with greater labour efficiency. Our shipments per day were higher than a year ago, driven by our quality of service, with yield growth getting stronger as the quarter progressed.
"Our momentum continued into July, when we moved more volume through our network, accelerating year-over-year growth in tonnage and shipments per day to four per cent and nine per cent, respectively. Our yield growth also continued to improve in July, driven by our pricing initiatives.
"Looking forward," he said, "we'll continue to deliver financial and operational excellence through the disciplined execution of our LTL 2.0 plan. This includes ongoing investments in the network capacity of tractors, trailers, and doors. We remain confident in achieving our long-term targets."
Operating income was $107 million for the second quarter for the less-than-truckload (LTL) North American operator, compared with $171 million for the same period in 2022.
"Our business performed above expectations in the second quarter, delivering adjusted EBITDA of $244 million and adjusted diluted EPS of $0.71," said XPO chief executive Mario Harik.
"In North American LTL, we sequentially improved our adjusted operating ratio more than our forecast and operated with greater labour efficiency. Our shipments per day were higher than a year ago, driven by our quality of service, with yield growth getting stronger as the quarter progressed.
"Our momentum continued into July, when we moved more volume through our network, accelerating year-over-year growth in tonnage and shipments per day to four per cent and nine per cent, respectively. Our yield growth also continued to improve in July, driven by our pricing initiatives.
"Looking forward," he said, "we'll continue to deliver financial and operational excellence through the disciplined execution of our LTL 2.0 plan. This includes ongoing investments in the network capacity of tractors, trailers, and doors. We remain confident in achieving our long-term targets."