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 …
The post XPO Logistics sees revenues hit by a Q2 ‘dominated by Covid’, but stays bullish appeared first on The Loadstar.
Source: The Loadstar
Be the first to comment on "XPO Logistics sees revenues hit by a Q2 ‘dominated by Covid’, but stays bullish"