Large Customer Loss and Foreign Exchange Hit XPO’s 1Q, but New Business Wins Remain Quite Strong
Global trucking and logistics provider XPO Logistics’ top line fell 1.7% year over year in the first quarter, due to the previously announced loss of truck brokerage and last-mile postal-injection business from a large customer. Foreign exchange and difficult comparisons also played a role. Organic growth, excluding the departed last-mile business, was near 2%. Organic growth came in below our forecast, likely because freight demand has moderated more than we were originally thinking, based on f...XPO Logistics is a global provider of supply chain solutions to various companies. The company has two reporting segments: Transportation and Logistics. The company's Transportation segment facilitates the movement of raw materials, parts and finished goods. The company's transportation services include truck brokerage, expedite, intermodal, drayage, last mile, less-than-truckload, full truckload, global forwarding and managed transportation. The company's Logistics segment services include warehousing, distribution and inventory management, omnichannel and e-commerce fulfillment, reverse logistics, cold chain solutions, packaging and labeling, factory support, aftermarket support and order personalization services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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