XPO CEO Calls 2020 "a Lost Year," Remains Bullish Long-Term
XPO Logistics (NYSE: XPO) said Thursday it expects 2020 to be "a lost year of earnings growth" due to the COVID-19 pandemic, but management is optimistic conditions will rebound heading into 2021.
In his annual letter to shareholders, CEO Brad Jacobs called himself "a pragmatic bear in the short-term," but said he remains "a mega-bull in the long-term" when it comes to his company.
"Things are difficult right now and they'll get worse in the short-term," Jacobs wrote. "Then they'll get much, much better. That's what I see for XPO, our industry and the world."
Source Fool.com
