Welcome to our dedicated page for RXO news (Ticker: RXO), a resource for investors and traders seeking the latest updates and insights on RXO stock.
RXO, Inc. reports developments in asset-light transportation solutions built around tech-enabled truck brokerage and complementary managed transportation, last mile delivery and freight forwarding services across North America. Company news commonly covers Brokerage volume, spot and contract rate mix, gross profit per load, margin trends and outlooks for freight demand and carrier capacity.
Updates also include service launches such as Middle Mile Solutions, shipper visibility through RXO Connect®, carrier programs such as RXO Extra™, and RXO's Curve truckload market forecast. Corporate news includes earnings releases, investor conference participation and capital-structure actions such as senior notes offerings.
RXO reported its fourth quarter 2022 financial results, achieving a companywide gross margin of 19.6 percent, up 250 basis points year-over-year. Despite a net loss of $4 million due to $44 million in spin-related costs, adjusted net income was $33 million. Brokerage volume increased by 4 percent, setting a record for loads per day, with brokerage gross margin at 17.9 percent. The RXO Drive™ app downloads surged 45 percent year-over-year. The company expects continued volume growth in Q1 2023, underpinned by a strong sales pipeline.
RXO (NYSE: RXO) announced participation in two investor conferences in Miami Beach, Florida. The Citi 2023 Global Industrial Tech and Mobility Conference will feature CEO Drew Wilkerson, CFO Jamie Harris, and Chief Strategy Officer Jared Weisfeld on February 21, from 8-8:40 a.m. EST. The Barclays Industrial Select Conference is scheduled for February 23, from 1:50-2:20 p.m. EST. Live webcasts of the presentations can be accessed at investors.rxo.com. RXO is a tech-enabled provider of asset-light transportation solutions, connecting 10,000 customers with over 100,000 independent carriers across North America.
RXO has launched RXO Extra, an initiative providing carriers with an expanded suite of exclusive partnerships and discounts aimed at enhancing business growth. This online marketplace offers cost-saving opportunities on fuel, maintenance, tires, and more, thus incentivizing carrier loyalty and increasing shipping capacity. Key partnerships include discounts on SiriusXM subscriptions, hotel rates via CLC Lodging, and access to DAT Load Boards. According to Lou Amo, RXO’s president, this initiative is designed to support carriers by making cost-saving resources easily accessible.
RXO (NYSE: RXO) has announced its fourth quarter conference call and webcast scheduled for February 8 at 8 a.m. Eastern Time. The financial results will be available after market close on February 7, 2023, and can be accessed via www.rxo.com. Live viewing is possible at investors.rxo.com. A replay will be offered until March 1, 2023, with call details provided. RXO specializes in asset-light transportation solutions and operates a tech-enabled truck brokerage, connecting over 10,000 customers with 100,000 carriers across North America.
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RXO, Inc. (NYSE: RXO) has partnered with the Women in Trucking Association to promote gender diversity and inclusivity in the trucking industry. CEO Drew Wilkerson emphasized the company's commitment to empowering women at all levels. RXO, established in 2007, operates as a leading provider of asset-light transportation solutions, utilizing cutting-edge technology to connect around 10,000 customers with over 100,000 independent carriers across North America.
RXO has commenced trading on the New York Stock Exchange as an independent entity after spinning off from XPO. As the fourth largest truckload broker in the U.S., RXO boasts around 7,400 employees and connects clients to approximately 100,000 independent carriers through its proprietary RXO Connect™ platform. The spin-off was executed on November 1, 2022, where stockholders received shares of RXO common stock, intended to be tax-free for U.S. federal income tax purposes.