Are GXO and XPO the same company?
XPO unveils GXO as new company name for planned spin-off of logistics business. XPO Logistics, Inc. (NYSE: XPO), a leading global provider of supply chain solutions, today announced the identity of the new company that has been created in connection with the planned spin-off of XPO's logistics business.
Greenwich, Connecticut
What does GXO stand for?
“The new company is called GXO — three letters that stand for the game-changing opportunities we're bringing to the table for customers, employees and shareholders, with a nod to our XPO heritage.
XPO is a leading provider of freight transportation services, primarily less-than-truckload transportation and truck brokerage services, and GXO is the largest pure-play contract logistics provider in the world.02-Aug-2021
Why did XPO and GXO split?
1. GXO will be the biggest pure-play logistics company in the world. With several different businesses under its umbrella, XPO CEO Brad Jacobs believed that XPO's current combined structure made the transportation stock difficult to value because the company had no true peers. The separation takes care of that problem.21-Jul-2021
Is XPO going out of business?
XPO Logistics announced after the closing bell Tuesday it will become solely a trucking company, spinning off its high-tech truck brokerage business into a separate publicly traded firm.08-Mar-2022
STG Logistics
Who are GXO in UK?
GXO is a leading provider of cutting-edge supply chain solutions to the most successful companies in the world. We help our customers manage their goods most efficiently using our technology and services.
Separation Completion GXO shares were distributed at 12:01 a.m. Eastern Time on August 2, 2021 in a distribution that is intended to be tax-free to XPO stockholders for U.S. federal income tax purposes. In connection with the separation, GXO made a $794 million cash payment to XPO.02-Aug-2021
Why did XPO change its name?
“The new company's brand identity captures the qualities that make us an industry leader — our ability to deliver faster, leaner, smarter logistics for customers at lower cost, using advanced automation and data science,” said Malcolm Wilson, XPO's chief executive officer – Europe, who has been named to become CEO of
XPO Logistics, provider of freight transportation and truck brokerage services, has confirmed its previously announced spin-off of GXO, which it says is the largest contract logistics provider in the world.17-Aug-2021
Is GXO a good buy?
Out of 13 analysts, 7 (53.85%) are recommending GXO as a Strong Buy, 3 (23.08%) are recommending GXO as a Buy, 3 (23.08%) are recommending GXO as a Hold, 0 (0%) are recommending GXO as a Sell, and 0 (0%) are recommending GXO as a Strong Sell.
XPO
What does XPO Logistics stand for?
In September 2011, American businessman Brad Jacobs acquired Express-1 Expedited Solutions, Inc. and became its chairman and CEO. The company changed its name to XPO Logistics – a reference to Express-1's AMEX ticker symbol, "XPO" – and began acquiring other companies in the transportation and logistics sector.
About GXO Logistics GXO is committed to providing a world-class, diverse workplace for its 94,000 team members across 869 warehouse locations totaling 208 million square feet.
What do GXO do?
We design, manage and optimize supply chains We help customers get the most out of their supply chains by improving the flow of goods, from ecommerce fulfilment and flexible distribution to warehouse automation and reverse logistics.
GXO is a leader in logistics automation and robotics, leveraging AI and machine learning to 'turn logistics into a competitive advantage' for its customers. It has approximately 94,000 employees, and counts Apple, Nike and Whirlpool among its blue chip customers.02-Aug-2021
Who is XPO largest customer?
XPO Logistics is still looking to make up for the business it lost last year when its largest customer, widely believed to be Amazon, decided to downsize its operation with the transportation and operations company, XPO CEO Brad Jacobs said on the company's recent earnings call.06-Aug-2019
According to Broughton Capital, 640 trucking companies in the United States went bankrupt – in the first six months of 2019. While this number seems high, what is shocking is that it's nearly three times the amount of trucking-specific bankruptcy filings during the entire 2018 calendar year.
Why does XPO spin-off?
“Our spin-off is intended to create significantly more value for customers and investors as a standalone pure-play with a high-performing model.” An XPO spokesperson told LM earlier this year that these moves will transition one great company into two great companies.02-Jun-2022
Are GXO and XPO the same company?