XPO: net income on steep upward trajectory
The global freight transport and warehousing company, XPO Logistics reported full year 2017 revenue of USD 15.38 billion (2016: USD 14.62 billion). Revenue increased year-over-year by USD 1.19 billion, excluding the 2016 revenue of USD 431.9 million from the North American truckload unit divested in October 2016. Net income attributable to common shareholders was USD 312.4 million (2016: USD 63.1 million).
Bradley Jacobs, chairman and CEO of XPO Logistics, said: "We entered 2018 with a global sales pipeline of USD 3.2 billion, following a record USD 2.8 billion of new business signed in 2017. We expect to increase adjusted ebitda by at least another 17% and deliver about USD 625 million of free cash flow this year, while investing heavily in technology and sales force effectiveness.” (mw)