XPO has projected a 10.3 percent EBITDA margin by 2018, a figure that assumes annual organic revenue growth in the mid single-digit range. In February, XPO Chairman and CEO Bradley S. Jacobs said the company planned to rationalize about $3 billion in enterprisewide spending in 2016 by renegotiating legacy line-haul contracts and leveraging its burgeoning size to enhance its buying power. Jacobs said at the time that XPO had put out bids on about $500 million in line-haul business handled by outside carriers on behalf of the former Con-way Freight, the less-than-truckload (LTL) unit that XPO absorbed when it bought its parent. The former Con-Way Freight generated about $3.3 billion of the $5.8 billion in overall revenue at the time of the XPO acquisition. Some of those contracts had not been rebid since 2009, Jacobs said then.