XPO Logistics Releases Preliminary Results for Second Quarter 2017
(Thomson Reuters ONE) -
GREENWICH, Conn. - July 17, 2017 - XPO Logistics, Inc. (NYSE: XPO) today
announced the following preliminary expected financial results for the second
quarter ended June 30, 2017.
Based on the information available as of July 17, 2017, we currently estimate
that our financial results as of and for the three months ended June 30, 2017,
will include:
* Total revenue of $3.755 billion to $3.765 billion
* Operating income of $183 million to $187 million
* Organic revenue growth as compared to same period in 2016 of 7.0% to 7.9%
* Cash flows from operating activities of $205 million to $215 million
* Payments for purchases of property and equipment less proceeds from sale of
assets of approximately $120 million
In addition, we estimate that we incurred depreciation and amortization expense
of approximately $165 million, and we estimate that we incurred expenses related
to transaction, integration and rebranding costs of approximately $20 million.
This information set forth above is preliminary and unaudited and reflects our
estimated financial results as of and for the three months ended June
30, 2017. In preparing this information, management made a number of complex
and subjective judgments and estimates about the appropriateness of certain
reported amounts and disclosures. Our actual financial results for the second
quarter of 2017 have not yet been finalized by management. These results are
not a comprehensive statement of all financial results as of and for the three
months ended June 30, 2017. We are required to consider all available
information through the finalization of our financial statements and their
possible impact on our financial condition and results of operations for the
period, including the impact of such information on the complex judgments and
estimates referred to above. As a result, subsequent information or events may
lead to material differences between the information about the results of
operations described herein and the results of operations described in our
subsequent quarterly report. Accordingly, you should not place undue reliance on
these preliminary financial results.
Total organic revenue is a non-GAAP financial measure as defined under the rules
of the Securities and Exchange Commission ("SEC"). We believe that use of
certain non-GAAP financial measures facilitates analysis of our ongoing business
operations because they exclude items that may not be reflective of, or are
unrelated to, XPO and its business segments' core operating performance, and may
assist investors with comparisons to prior periods and assessing trends in our
underlying businesses. These adjustments are consistent with how management
views our businesses. Management uses non-GAAP financial measures in making
financial, operating and planning decisions and evaluating XPO's and each
business segment's ongoing performance. Accordingly, we believe that total
organic revenue is an important measure because it excludes the impact of the
following items: foreign currency exchange rate fluctuations, acquisitions and
divestitures, and fuel surcharges. Specifically, our total organic revenue
reflects adjustments to (i) exclude revenue from Con-way Truckload, which was
sold in October 2016, (ii) exclude the estimated revenue attributable to fuel,
and (iii) apply a constant foreign exchange rate to both periods (based on
average rates during the monthly periods). As required by SEC rules, set forth
below is a reconciliation of organic revenue to the most directly comparable
measure under GAAP:
About XPO Logistics
XPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of
cutting-edge supply chain solutions to the most successful companies in the
world. The company operates as a highly integrated network of people, technology
and physical assets in 34 countries, with over 89,000 employees and 1,431
locations. XPO uses its network to help more than 50,000 customers manage their
goods more efficiently throughout their supply chains. The company has two
reporting segments: transportation and logistics, and within these segments, its
business is well diversified by geographies, verticals and types of service.
XPO's corporate headquarters is in Greenwich, Conn., USA, and its European
headquarters is in Lyon, France. www.xpo.com
Forward-looking Statements
This press release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including our expected financial
results for total revenue, operating income, organic revenue, cash flows from
operating activities, payments for purchases of property and equipment less
proceeds from sale of assets, depreciation and amortization expense and
transaction, integration and rebranding costs. All statements other than
statements of historical fact are, or may be deemed to be, forward-looking
statements. In some cases, forward-looking statements can be identified by the
use of forward-looking terms such as "anticipate," "estimate," "believe,"
"continue," "could," "intend," "may," "plan," "potential," "predict," "should,"
"will," "expect," "objective," "projection," "forecast," "goal," "guidance,"
"outlook," "effort," "target," "trajectory" or the negative of these terms or
other comparable terms. However, the absence of these words does not mean that
the statements are not forward-looking. These forward-looking statements are
based on certain assumptions and analyses made by us in light of our experience
and our perception of historical trends, current conditions and expected future
developments, as well as other factors we believe are appropriate in the
circumstances.
These forward-looking statements are subject to known and unknown risks,
uncertainties and assumptions that may cause actual results, levels of activity,
performance or achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or implied by such
forward-looking statements. Factors that might cause or contribute to a material
difference include the risks discussed in our filings with the United States
Securities and Exchange Commission and the following: economic conditions
generally; competition and pricing pressures; our ability to align our
investments in capital assets, including equipment, service centers and
warehouses, to our customers' demands; our ability to successfully integrate and
realize anticipated synergies, cost savings and profit improvement opportunities
with respect to acquired companies; our ability to develop and implement
suitable information technology systems; our substantial indebtedness; our
ability to raise debt and equity capital; our ability to maintain positive
relationships with our network of third-party transportation providers; our
ability to attract and retain qualified drivers; litigation, including
litigation related to alleged misclassification of independent contractors;
labor matters, including our ability to manage our subcontractors, and risks
associated with labor disputes at our customers and efforts by labor
organizations to organize our employees; risks associated with our self-insured
claims; risks associated with defined benefit plans for our current and former
employees; fluctuations in currency exchange rates; fluctuations in fixed and
floating interest rates; our ability to execute our growth strategy through
acquisitions; fuel price and fuel surcharge changes; issues related to our
intellectual property rights; governmental regulation, including trade
compliance laws; and governmental or political actions, including the United
Kingdom's likely exit from the European Union. All forward-looking statements
set forth in this press release are qualified by these cautionary statements and
there can be no assurance that the actual results or developments anticipated by
us will be realized or, even if substantially realized, that they will have the
expected consequences to or effects on us or our business or operations.
Forward-looking statements set forth in this press release speak only as of the
date hereof, and we do not undertake any obligation to update forward-looking
statements to reflect subsequent events or circumstances, changes in
expectations or the occurrence of unanticipated events, except to the extent
required by law.
Investor Contact:
XPO Logistics, Inc.
Tavio Headley, +1-203-930-1602
tavio.headley(at)xpo.com
Media Contact:
XPO Logistics, Inc.
Erin Kurtz, +1-203-489-1586
erin.kurtz(at)xpo.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: XPO Logistics, Inc. via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 17.07.2017 - 13:27 Uhr
Sprache: Deutsch
News-ID 552602
Anzahl Zeichen: 9960
contact information:
Town:
Greenwich
Kategorie:
Business News
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