Core Viewpoint - Brad Jacobs is stepping down as chairman of XPO and GXO to focus on QXO, a new company aimed at becoming a leader in the building products distribution industry, targeting $50 billion in revenue through acquisitions and organic growth [1][2]. Company Developments - Jacobs' resignation is effective December 31, and he will concentrate on QXO and Jacobs Private Equity, stating that XPO and GXO are in excellent shape with bright prospects [2]. - XPO has transitioned to being solely an LTL provider after spinning off its intermodal unit, contract logistics operations (GXO), and freight brokerage (RXO) [4]. Financial Performance - GXO's stock has increased by 8.76% over the last 52 weeks, while XPO's stock has decreased by approximately 5.75% in the same period but has seen a rise of over 6% in the last month and about 14.5% in the last three months [5]. - QXO reported net sales of about $4.6 billion for the nine months ended September 30, following its acquisition of Beacon Roofing Supply [6][7]. - QXO's price/sales ratio is approximately 262, reflecting investor sentiment based on Jacobs' previous successes, while XPO's price/sales ratio is 2.18 [7].
Jacobs stepping down as XPO, GXO chair to focus on QXO