What does XPO stand for?

In September 2011, American businessman Brad Jacobs acquired Express-1 Expedited Solutions, Inc. 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.

What is XPO called now?

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. The company is named GXO Logistics, Inc.

What companies does XPO own?

Brad Jacobs has started five companies from scratch and led each of them to become a billion dollar or multi-billion-dollar enterprise. These include three publicly traded companies: XPO Logistics, Inc. (NYSE: XPO), United Rentals, Inc. (NYSE: URI) and United Waste Systems, Inc.

Is XPO and GXO the same company?

GXO is the former global logistics segment of XPO Logistics (NYSE: XPO) and successfully spun off today as the world's largest pure-play contract logistics provider. “This is an exciting milestone in GXO's history.

Is XPO a big company?

XPO is the third largest LTL carrier in the U.S. by revenue. Customers include Caterpillar and Tractor Supply. XPO's North American LTL business reported more than $4.1 billion in revenue in 2021, with 16% growth year over year.

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Who bought XPO?

STG Logistics has acquired XPO Logistics' intermodal division for $710 million, the companies announced Friday, advancing XPO's spin-off plans revealed earlier this month. Approximately 700 employees and 48 locations have been transferred to STG in the transaction, according to an XPO news release.

Is XPO a Fortune 500 company?

XPO ranks No. 190 on the Fortune 500 overall, based on 2020 revenue of $16.25 billion. The company is the second-largest contract logistics provider, the second-largest freight broker globally and a top three less-than-truckload provider in North America.

Why did XPO change to GXO?

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.

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.

Why did XPO spin-off GXO?

The spinoff will allow management to implement an optimal capital structure, and establish an investment identity and allocation strategy, the company has said. “We have such a great secular and high-growth business that benefits from all tailwinds of e-commerce, automation and outsourcing,” Oran said.

Is XPO Logistics a good company?

92% of employees would recommend working at XPO Logistics with the overall rating of 3.9 out of 5. Employees also rated XPO Logistics 3.5 out of 5 for Company Culture, 3.9 for Rewards You Receive, 3.4 for Growth Opportunities and 3.6 for support you get.

Did XPO change their name?

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. The company is named GXO Logistics, Inc.

Did XPO get bought out?

The XPO intermodal division acquired by STG is North America's third largest provider of containerized transportation services, according to the announcement, providing intermodal drayage and rail brokerage services for retailers, manufacturers, third party logistics providers, and other types of customers.

What company did XPO spin-off?

The company's announcement comes in after the spin-off of GXO Logistics (Logistics business), which was completed on August 3, 2021. The pricing of the new shares and the number of shares XPO shareholders would receive are yet to be decided.

What is the difference between XPO and GXO?

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.

Is XPO changing to GXO?

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.

Do XPO shareholders get GXO?

Under the terms of the previously announced separation, XPO stockholders received one share of GXO common stock for every one share of XPO common stock held as of the close of business on the record date for the distribution, July 23, 2021.

What does GXO stand for in GXO Logistics?

“Today, we took an exciting step forward on our path to spinning off our logistics segment. 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.

What do GXO Logistics 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.

Did XPO Logistics split?

XPO announced in December 2020 that it was splitting its logistics and trucking businesses into separately traded firms, aimed at giving each unit a more defined focus; that move was completed in August.

Is XPO a 3PL?

(NYSE: XPO), a leading global provider of supply chain solutions, has been named a Top 100 Third-Party Logistics (3PL) Provider by Inbound Logistics magazine for the 7th consecutive year.

What happened XPO?

Shares of XPO Logistics (XPO -5.45%), a global transportation company specializing in less-than-truckload shipping and freight brokerage, were climbing today after management announced it would split the company in half, breaking apart those two divisions and divesting from the company's remaining operations.

Is XPO Logistics a Fortune 100 company?

The ranking is based on 2018 company revenue of $17.3 billion. XPO was first named to the Fortune 500 list in 2016 at number 353, and moved up to No. 186 last year.

How many employees does XPO Logistics have in 2021?

XPO Logistics total number of employees in 2021 was 42,000, a 58.82% decline from 2020.