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XPO Logistics Reports Record Profit

XPO Logistics Inc. reported a record profit on Wednesday, as the company made progress integrating recent acquisitions.

XPO Logistics Inc. on Wednesday reported its first profitable quarter in at least four years as the company gained new customers and moved forward with integrating more than a dozen acquisitions.

The Greenwich, Conn.-based company, which has rolled up businesses from different corners of the logistics industry including multi-billion dollar acquisitions of transportation providers in the U.S. and Europe, posted a record $42.6 million profit for the second quarter, or 35 cents per diluted share. Wall Street analysts had expected 3 cents a share in profit, according to FactSet. XPO reported a $75.1 million loss a year earlier.

The company also reported a record $170 million of free cash flow on and adjusted its target for free cash flow in the next quarter to $150 million from a range of $100 million to $150 million. Revenue for the quarter was $2.4 billion.

“We reached a positive inflection point in the evolution of our business,” said Chief Executive Brad Jacobs, who called the results a “blowout quarter.”

Mr. Jacobs said that the company is reducing its expenses by leveraging its larger size to secure better...


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