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XPO Logistics expects 750,000 European home deliveries for 2018

From Reuters - February 15, 2018

SEATTLE (Reuters) - XPO Logistics Inc (XPO.N) said on Thursday it expects to make or manage 750,000 deliveries of bulky goods like flat-screen televisions and furniture to homes in Europe in 2018, as the U.S.-based company dips its toe into a crowded and fast-growing market.

The Greenwich, Connecticut-based delivery and warehousing company is the largest provider of last-mile deliveries from warehouses direct to homes in North America, handling or managing some 13 million drop offs in 2017. Last week XPO said it was taking that service to Europe, but did not disclose expected volume.

The company told Reuters its projected volume ahead of an announcement on the service expected later on Thursday.

Thats more volume than people would have expected in year one, said Stephens Inc analyst Jack Atkins. I dont think its material for the profitability of the company, but its a nice start.

XPO has used rapid-fire acquisitions to grow from a $175 million truck brokerage company in 2012 to a $15.38 billion freight and logistics behemoth, but its European expansion, for now, is being built organically.

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