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XPO Logistics Releases Preliminary Results for Second Quarter 2017

GREENWICH, Conn. - July 17, 2017 - XPO Logistics, Inc. (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...