XPO Inc (NYSE:XPO) disclosed winning an auction for 28 service centers of Yellow Corporation and its subsidiaries across the U.S. for around $870 million.
The auction, held on November 28, 2023, includes the assumption of three asset leases. This also comprises the right to designate, in consultation with Yellow, additional contracts that are related exclusively to the acquired assets, for 45 days following the consummation of the buyout.
The buyout is at par with XPO's LTL 2.0 growth plan and is expected to be accretive to adjusted EBITDA and dilutive to adjusted EPS from continuing operations per share in 2024.
XPO projects the Yellow Asset Acquisition to be accretive to adjusted diluted earnings from continuing operations per share from 2025.
As of Q3-end, XPO had cash and cash equivalents of $335 million.
Yesterday, the company reported November 2023 operating metrics, with LTL tonnage per day decreasing 0.4% YY on a decline of 4.1% in weight per shipment and a rise of 3.8% in shipments per day.
While announcing the November operating metrics, Mario Harik, chief executive officer said, "We're continuing to make good progress on a number of fronts in the fourth quarter despite the soft freight market...And our yield ex-fuel growth is tracking ahead of expectations for the quarter, with continued strength heading into 2024."
Price Action: XPO shares closed lower by 4.31% at $84.95 on Tuesday.
XPO Inc(纽约证券交易所代码:XPO)透露,以约8.7亿美元的价格赢得了Yellow Corporation及其在美国各地的28个服务中心的拍卖。
该拍卖于2023年11月28日举行,包括承担三项资产租赁。这还包括在与Yellow协商后,在收购完成后45天内指定专门与收购资产相关的额外合同的权利。
此次收购与XPO的LTL 2.0增长计划相当,预计将在2024年增加调整后的息税折旧摊销前利润,并稀释每股持续经营业务的调整后每股收益。
XPO预计,从2025年起,黄色资产收购将增加调整后的每股持续经营业务摊薄收益。
截至第三季度末,XPO的现金及现金等价物为3.35亿美元。
昨天,该公司公布了2023年11月的运营指标,汽运零担日吨位同比下降0.4%,每批货物的重量下降了4.1%,每天的出货量增长了3.8%。
首席执行官马里奥·哈里克在宣布11月份的运营指标时表示:“尽管货运市场疲软,但我们在第四季度继续在多个方面取得良好进展... 我们的除燃料外收益增长超出了本季度的预期,进入2024年将持续保持强劲势头。”
价格走势:XPO股价周二收盘下跌4.31%,至84.95美元。