This story appears in the Oct. 1 print edition of Transport Topics. Click here to subscribe today.
XPO Logistics, which recently completed $125 million in additional financing, said that its third-quarter results won’t match analysts’ expectations.
XPO, Greenwich, Conn., disclosed details of the financing and the quarterly loss in recent regulatory filings.
XPO’s statement said the company expects an operating loss of $9.5 million to $10.5 million, with revenue in the range of $68 million to $72 million.
Earnings at XPO will lag expectations because of litigation, start-up and acquisition-related costs as well as weaker demand for expedited services, the company said.
XPO said the financing is being raised to help XPO make acquisitions, said a Sept. 21 report from John Larkin, an analyst for Stifel, Nicolaus & Co.
No comments:
Post a Comment