XPO playing it down
XPO Logistics is forecasting revenues of approximately USD 3.04 billion, a profit of USD 181 million to USD 185 million and an ebitda of USD 348 million to USD 352 million for Q3/2022. Revenues keep rising, while volumes are showing a year-over-year decrease in weight per day of approximately 2.9% for the full quarter.
The company has reiterated its expectation that at least USD 1 billion of full year 2022 adjusted ebitda will be generated by North American LTL, including up to USD 50 million of gains on sales of real estate in Q4/2022.
XPO now expects to achieve a year-over-year improvement of 50 to 100 basis points in its North American LTL adjusted operating ratio for full year 2022 - the prior target of at least 100 basis points of improvement.
For its North American LTL business, the company's long-term targets, encompassing the period from 2021 to 2027, include a revenue growth at a compound annual growth rate of 6% to 8% and an adjusted ebitda growth at a compound annual rate of 11% to 13%. (sh)