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XPO intends to spin off its logistics segment in the third quarter of 2021 as GXO Logistics, creating two, pure-play industry powerhouses. The separation would create independent public companies with distinct investment identities and service offerings in vast addressable markets. GXO would be the second largest contract logistics company in the world, and XPO would be a leading provider of transportation services, primarily less-than-truckload transportation and truck brokerage.
The Covenant story is one centered on people. It`s a history going back more than 35 years, to our founders David and Jacqueline Parker starting Covenant Transport in 1986 with 25 trucks and 50 trailers. It`s a story of our trucks, trailers and people crisscrossing all 50 states, and racking up millions of miles along the way. And ours is a story of service – expedited, temperature-controlled, dedicated, managed transportation – and of freight. It`s a story of moved goods, reflecting our rapidly-changing American economy, as well as the needs and preferences of the American people since the mid-1980s.
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