While other forwarders’ financial results appear to have been propped up by soaring yields in air freight, XPO Logistics is in a different category.
It saw revenues fall 17%, to $3.5bn, in the second quarter, with a net loss of $132m. Adjusted net loss was $57m, on adjusted ebitda of $172m, compared with $445m a year earlier.
It anticipated its adjusted ebitda for the third quarter at about $350m.
That figure excludes $50m of …
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Source: The Loadstar