Welcome to our dedicated page for Xpo news (Ticker: XPO), a resource for investors and traders seeking the latest updates and insights on Xpo stock.
XPO Inc (NYSE: XPO), a leader in asset-based less-than-truckload (LTL) freight transportation, provides this centralized hub for official announcements and market-moving developments. Access real-time updates on operational milestones, financial performance, and strategic initiatives that shape North America's logistics landscape.
This resource delivers critical insights through earnings disclosures, technology innovation announcements, and network expansion updates. Users will find detailed coverage of cross-border logistics developments, service center openings, and efficiency improvements driven by XPO's proprietary technology platform.
Key updates include quarterly financial results, leadership changes, capacity expansions, and sustainability initiatives. The curated news flow enables stakeholders to track how XPO's asset-based model and digital transformation strategies impact freight markets.
Bookmark this page for direct access to XPO's verified corporate communications. Combine these updates with SEC filings and investor materials for comprehensive analysis of the company's market position and growth trajectory.
XPO Logistics, Inc. (NYSE: XPO) has initiated a cash tender offer to buy back its outstanding 6.250% Senior Notes due 2025, totaling $520 million. The company aims to modify the notes' indenture through a Consent Solicitation, seeking to remove most restrictive covenants and certain events of default. The tender offer will expire by 5:00 p.m. on November 17, 2022, with an early tender deadline on November 1. Successful completion requires the consent of a majority of noteholders. This move is conditioned on the outcome of XPO's planned spin-off of its tech-enabled brokered transportation platform, RXO.
XPO Logistics, Inc. (NYSE: XPO) anticipates third quarter 2022 revenue of approximately $3.04 billion and operating income between $181 million to $185 million. The company estimates adjusted EBITDA to be $348 million to $352 million. Key highlights include a 7% increase in revenue per hundredweight in its North American LTL segment and an expected operating ratio of 85.1%. The planned spin-off of RXO on November 1, 2022, aims for long-term adjusted EBITDA growth at 11% to 13% CAGR. A conference call will occur on October 31, 2022.
XPO Logistics (NYSE: XPO) announced the appointment of Jason Kerr as the chief accounting officer for RXO, its planned spin-off of the brokered transportation platform, effective immediately. Kerr brings over two decades of experience, having previously served as chief accounting officer at BWX Technologies. The spin-off is expected to complete on November 1, 2022, and RXO will trade under the symbol 'RXO'. XPO anticipates RXO will be the fourth largest truckload broker in the U.S., unlocking significant value for stakeholders.
XPO Logistics announced a $355 million note offering set to close around October 25, 2022. The notes, maturing in 2027 with a 7.5% interest rate, will be used for cash distribution to XPO, fund spin-off expenses, and provide working capital for RXO, XPO's wholly owned subsidiary. The spin-off will create RXO as an independent company on November 1, 2022, positioning it as one of the largest freight brokers in the U.S.
XPO Logistics announced the launch of an offering of notes due 2027 by its subsidiary RXO in connection with RXO's spin-off into an independent public company. The notes will be issued by XPO Escrow Sub, LLC, and will become RXO's direct obligations after the merger. Offered exclusively to qualified institutional buyers, the notes will not be registered under the Securities Act. The spin-off is poised to create RXO, which will rank as the fourth largest broker of full truckload freight transportation in the U.S., enhancing XPO's financial prospects.
XPO Logistics, Inc. has appointed Carl Anderson as their new chief financial officer, effective November 8, 2022. He succeeds Ravi Tulsyan, who will assist in the transition. Anderson brings over 25 years of experience in the transportation sector, previously serving as CFO of Meritor, Inc. CEO Brad Jacobs highlighted Anderson's valuable experience in B2B finance and the commercial vehicle sector, which aligns with XPO's operations. Tulsyan played a critical role during the transition to GXO and RXO.
XPO Logistics announced the finalization of its board of directors post-spin-off of its subsidiary, RXO. This spin-off will create two distinct companies, with RXO positioned as the fourth largest full truckload freight broker in the U.S. Trading of RXO shares is set to begin on November 1, 2022. XPO's new board includes independent directors, with Brad Jacobs continuing as executive chairman and Mario Harik assuming the role of CEO after the separation. Shareholders will receive 1 RXO share for every XPO share held as of October 20, 2022.
XPO Logistics, based in Greenwich, Conn., will hold its third quarter conference call on October 31, 2022, at 8:30 AM ET. The results will be released earlier that morning and can be accessed on www.xpo.com. Investors can join the call via a toll-free number or listen to a live webcast at www.xpo.com/investors. A replay will be available until December 1, 2022. XPO, a leader in freight transportation services with approximately 749 locations and serving 50,000 shippers globally, utilizes proprietary technology to optimize supply chain efficiency.
XPO Logistics announced that Heidi Ratti will be the chief human resources officer of RXO, which is the planned spin-off of its tech-enabled brokered transportation platform. Ratti, currently senior VP of HR for XPO’s North American less-than-truckload business, brings over 16 years of HR experience in transportation. The spin-off, expected in Q4 2022, aims to create RXO as a major player in full truckload freight, leveraging a proprietary digital freight marketplace. The spin-off's success hinges on several conditions, including board approval and regulatory requirements.
XPO Logistics (NYSE: XPO) has filed a Form 10 registration statement with the U.S. SEC for the spin-off of RXO, its tech-enabled brokered transportation platform, slated for Q4 2022. RXO is expected to become the fourth largest truckload broker in the U.S., while XPO will focus on less-than-truckload services in North America and divest its European operations. Financial advisors BofA Securities, Goldman Sachs, and Morgan Stanley are assisting in the spin-off process. The transaction is subject to several conditions including SEC approval and debt financing for RXO.
