RXO Inc Stock Price, News & Analysis

RXO (NYSE: RXO) has announced that its CEO Drew Wilkerson, CFO Jamie Harris, and Chief Strategy Officer Jared Weisfeld will participate in key investor conferences in May 2023. The first event is the Oppenheimer 18th Annual Industrial Growth Conference, where they will present on May 9 from 3:00 - 3:35 p.m. EDT. The second event is the Goldman Sachs Industrials and Materials Conference in New York, scheduled for May 10 from 11:35 a.m. - 12:10 p.m. EDT. Interested parties can access live webcasts and replays at investors.rxo.com. RXO is a leader in asset-light transportation solutions, leveraging technology to connect over 100,000 independent carriers with approximately 10,000 customers in North America.

RXO (NYSE: RXO), a leader in asset-light transportation solutions, has been named a Supplier of the Year by General Motors at their annual awards ceremony in San Antonio, Texas. This recognition marks the fifth consecutive year RXO has received this honor.

The award highlights RXO's excellence in delivering innovative technologies that enhance GM's aftermarket parts distribution. RXO has collaborated with GM for over a decade, focusing on efficiency and on-time delivery. CEO Drew Wilkerson expressed pride in this partnership, emphasizing RXO's commitment to reliable logistics solutions for GM's dealers.

RXO (NYSE: RXO) plans to release its first quarter financial results on May 3, 2023, before the New York Stock Exchange opens. The company will host a conference call at 8 a.m. EDT on the same day to discuss the results, which will be accessible via their investor website. RXO specializes in asset-light transportation solutions, offering tech-enabled truck brokerage and other logistics services, connecting around 10,000 customers with over 100,000 independent carriers across North America.

RXO Drive™, part of the RXO Connect™ platform, has surpassed one million downloads, marking significant growth since its launch.

This free mobile app helps truck drivers find loads, negotiate rates, and manage trips, aiding small fleet carriers across North America. By the end of 2022, 87% of RXO’s loads were digitally handled, reflecting a 45% increase in downloads year-over-year. RXO, a leader in asset-light transportation solutions, utilizes advanced technologies like machine learning and AI to optimize freight operations, making the app an essential tool for profitability in the trucking industry.

Antonia Popova, RXO's director of customer accounts, has been recognized by Women in Trucking as one of the 2023 Top Women to Watch in Transportation. This honor celebrates her achievements and commitment to diversity initiatives within the industry. Popova's career progressed rapidly from an entry-level position to managing over 500 team members in last-mile delivery. She has been instrumental in improving service quality at RXO. The recognition illustrates RXO's dedication to fostering inclusive environments and empowering women in the workforce.

RXO (NYSE: RXO) announced that CEO Drew Wilkerson, CFO Jamie Harris, and CSO Jared Weisfeld will participate in two upcoming investor conferences. The first is the Raymond James 44th Annual Institutional Investors Conference on March 6 from 8:05-8:35 a.m. EST in Orlando, FL. The second conference is the J.P. Morgan 2023 Industrials Conference on March 15 from 8:00-8:40 a.m. EDT in New York, NY. Live webcasts and replays will be available at investors.rxo.com. RXO provides asset-light transportation solutions and combines technology with a vast network of carriers to optimize freight movement.

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.