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XPO Logistics slips after in-line Q2, scheduled departure of CFO Hardig

Published 08/01/2018, 06:11 PM
© Reuters.  XPO Logistics slips after in-line Q2, scheduled departure of CFO Hardig
XPO
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  • XPO Logistics (NYSEMKT:XPO) -1.8% after-hours as it reports in-line Q2 results and the departure of CFO John Hardig effective Aug. 15.
  • Sarah Glickman, senior VP of corporate finance, will assume the role of acting CFO.
  • XPO says Q2 transportation revenue rose 14.5% Y/Y to $2.89B, driven by strength in “final-mile” shipments and strong demand for e-commerce order fulfillment.
  • XPO's Q2 adjusted EBITDA rose to $436.7M, compared with $370.8M for the same period in 2017; the company reaffirms its FY 2018 target for adjusted EBITDA of at least $1.6B and its 2017-18 target for ~$1B in cumulative free cash flow.
  • The company says it is on track to hit its goal of 85 last-mile hubs ahead of the holiday peak, which will position it within 125 miles of 90% of U.S. consumers.
  • Now read: Air France-KLM ADR 2018 Q2 - Results - Earnings Call Slides


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