XPO Logistics in 15M-share offering, guides below consensus Q4 revenue

|About: XPO Logistics, Inc (XPO)|By:, SA News Editor

XPO Logistics (XPO) says it has commenced a public offering of 15M common shares to finance the cash portion of its previously announced acquisition of Pacer International, and for general corporate purposes, which may include strategic acquisitions and payment of debt.

Guides Q4 revenue of $256M-$258M, a ~135% Y/Y increase but below ~$265M analyst consensus; gross profit is seen at $52.5M-$53.5M, reflecting gross margins of 20.5%-20.7% vs. 14.4% for Q4 2012.