![]() “In our North American transportation division, led by Drew Wilkerson, our truck brokerage business again sharply outperformed the industry. We also doubled our trailer manufacturing output year-over-year. We maintained the highest level of network fluidity since 2020, and won a record amount of new business in the quarter. Yield, excluding fuel, accelerated year-over-year by 11%. It was our best quarterly adjusted operating ratio to date, excluding real estate, with a year-over-year improvement of 70 basis points, on track for more than 100 basis points of improvement this year. “In LTL, Mario Harik led his team to record second quarter revenue, as well as an operating ratio of 82.5% and an adjusted operating ratio of 80.4%. Our North American less-than-truckload network and our tech-enabled brokered transportation platform have tremendous momentum heading into the spin-off, when we expect to separate these businesses into independent companies. It was our company’s ninth straight quarterly beat on adjusted EBITDA. The outlook does not take into account the intended spin-off of the company’s tech-enabled brokered services platform or the divestiture of the European business.īrad Jacobs, chairman and chief executive officer of XPO Logistics, said, “In the second quarter, all of our reported metrics were ahead of guidance and consensus. Free cash flow of $425 million to $475 million, excluding all transaction-related impacts, an increase from the prior target of $400 million to $450 million.Net capital expenditures of $425 million to $475 million, unchanged and.Gross capital expenditures of $500 million to $550 million, unchanged.With respect to 2022 cash flows, the targets are: Adjusted diluted EPS of $5.55 to $5.90, an increase from the prior target of $5.20 to $5.60 excludes amortization of acquisition-related intangible assets, and assumes 117 million diluted shares outstanding at year-end 2022.Effective tax rate of 24% to 25%, unchanged and.Interest expense of $145 million to $150 million, a decrease from the prior target of $150 million to $160 million.Depreciation and amortization of approximately $385 million, excluding amortization of acquisition-related intangible assets, unchanged.Year-over-year improvement of more than 100 basis points in North American LTL adjusted operating ratio, excluding gains on sales of real estate, unchanged.North American less-than-truckload (LTL) expected to generate at least $1 billion of full year adjusted EBITDA, including gains on sales of real estate of up to $50 million in the fourth quarter.Includes third quarter adjusted EBITDA of $330 million to $345 million, excluding gains on sales of real estate.Adjusted EBITDA of $1.40 billion to $1.43 billion, an increase from the prior target of $1.35 billion to $1.39 billion:.The company raised its full year targets for adjusted EBITDA, adjusted diluted EPS and free cash flow, and updated the underlying metrics: Reconciliations of non-GAAP financial measures used in this release are provided in the attached financial tables. Adjusted diluted earnings from continuing operations per share, a non-GAAP financial measure, was $1.81 for the second quarter, compared with $1.22 for the same period in 2021.Īdjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, increased to $405 million for the second quarter, compared with $330 million for the same period in 2021.įor the second quarter 2022, the company generated $199 million of cash flow from operating activities and $73 million of free cash flow, a non-GAAP financial measure. Diluted earnings from continuing operations per share was $1.22 for the second quarter, compared with $1.00 for the same period in 2021.Īdjusted net income from continuing operations attributable to common shareholders, a non-GAAP financial measure, increased to $209 million for the second quarter, compared with $138 million for the same period in 2021. Operating income was $230 million for the second quarter, compared with $191 million for the same period in 2021. Net income from continuing operations attributable to common shareholders was $141 million for the second quarter, compared with $113 million for the same period in 2021. Revenue increased to $3.23 billion for the second quarter, compared with $3.19 billion for the same period in 2021. (NYSE: XPO) today announced its financial results for the second quarter 2022. 04, 2022 (GLOBE NEWSWIRE) - XPO Logistics, Inc. ![]() Improves North American LTL operating ratio to 82.5%, and improves adjusted operating ratio by 70 basis points year-over-year to 80.4%Īchieves North American truck brokerage year-over-year volume growth of 16% Reports second quarter records for revenue, net income from continuing operations and adjusted EBITDA
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