XPO hoists revenue to USD 17.28 billion
XPO Logistics has announced its full year 2018 financial results. The company's revenue rose by 12.3% to USD 17.28 billion (2017: USD 15.38 billion). Organic revenue growth, which excludes the impacts of fuel and foreign exchange, was 9.3% year-on-year. The 2018 net income attributable to common shareholders increased to USD 390 million (2017: USD 312 million).
On 4 February 2019, the company completed the share repurchase programme announced in December 2018. A total of 18 million shares of XPO common stock were retired for approximately USD 1 billion. On 13 February, XPO's board of directors authorised a new, USD 1.5 billion common stock repurchase programme.
In addition, the service provider has updated its full-year 2019 targets as follows: Revenue growth of 3% to 5%, which corresponds to organic revenue growth of 4% to 6% y-on-y, and adjusted ebitda in USD 1.65 billion - USD 1.725 billion range, an increase of 6% to 10% y-on-y, versus the prior target of 12% to 15%. (mw)