Thursday 19th Oct 2017 - Logistics & Supply Chain

Sales rise 7pc at XPO Logistics

XPO Logistics expects revenue to grow by between 7 per cent and 7.9 per cent in the second quarter, the group said in a trading statement.

“Based on the information available as of 17th July 2017, we currently estimate that our financial results for the three months ended 30th June 2017, will include total revenue of $3.755 billion to $3.765 billion, and operating income of $183 million to $187 million.

“In addition, we estimate that we incurred depreciation and amortisation expense of approximately $165 million, and we estimate that we incurred expenses related to transaction, integration and rebranding costs of approximately $20 million.”

* XPO plans to make an offering of 11,000,000 shares of its common stock in a registered underwritten offering. XPO shares are currently trading at $60.46 per share.

It said that it expects to use the net proceeds from the sale of the shares “for general corporate purposes, which may include strategic acquisitions and the repayment or refinancing of outstanding indebtedness”.

Get Weekly Logistics & Supply Chain News
Get Weekly Logistics & Supply Chain News
Thank you for your subscription