This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

XPO Logistics Announces Second Quarter 2012 Results

Stocks in this article: XPO

Second Quarter 2012 Results by Business Unit

  • Expedited transportation: The Express-1 business generated total revenue of $25.7 million for the quarter, an 11.6% improvement from the same period last year. The improvement in revenue was primarily due to increases in the number of transactions and revenue-per-load. The company saw growth in its domestic, international and temperature-controlled businesses. Gross margin percentage was 20.0%, compared with 19.5% in 2011. The improvement in gross margin percentage reflects an increase in high-margin domestic business and a decrease in insurance claims, partially offset by higher rates paid to owner operators. Operating income was $2.4 million for the quarter, a 17.9% increase from the same period last year.
  • Freight forwarding: The Concert Group Logistics (CGL)  business generated total revenue of $16.5 million for the quarter, a 4.7% increase from the same period last year. Gross margin percentage increased to 11.0% for the quarter, from 10.6% a year ago, primarily due to higher volume with company-owned branches versus lower-margin agent-owned stations. Operating income was $128,000 for the quarter, compared with $399,000 last year, reflecting higher SG&A costs associated with investments in company-owned cold-starts in Charlotte, N.C., Atlanta, Ga., and Los Angeles, Calif.
  • Freight brokerage: The company's freight brokerage  business generated total revenue of $13.9 million for the quarter, a 107.5% improvement from the same period last year. The acquisition of Continental Freight Services on May 8, 2012, had a positive revenue impact of $3.6 million for the quarter. Excluding the acquisition, growth was primarily driven by increased volume at the company‚Äôs brokerage cold-start locations and South Bend, Ind., operation. Gross margin percentage was 11.0% for the quarter, compared with 15.3% in 2011. The decline in gross margin was primarily due to lower-margin sales during the start-up phase of cold-start locations. Operating loss was $972,000 for the quarter, compared with operating income of $172,000 the prior year, reflecting cold-start costs partially offset by higher operating income from the South Bend operation.

Six Months 2012 Financial Results

For the six months ended June 30, 2012, the company reported total revenue of $99.1 million, a 15.8% increase from the first six months of 2011.

3 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,891.60 +86.80 0.49%
S&P 500 2,071.43 +0.78 0.04%
NASDAQ 4,769.5460 +4.1660 0.09%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs