RXO Announces First-Quarter Results, Including Double-Digit Brokerage Volume Growth for Fourth-Consecutive Quarter
RXO, Inc. (RXO)
Company Research
Source: Business Wire
Brokerage volume increased by 11% year-over-year, with full-truckload volume growth of 8% and less-than-truckload volume growth of 29% year-over-yearBrokerage and companywide gross margin improved every month as the quarter progressedCompanywide gross margin of 17.4%; brokerage gross margin of 14.2%Companywide sales pipeline the largest it has been in four years CHARLOTTE, N.C.--(BUSINESS WIRE)--RXO (NYSE: RXO) today announced its financial results for the first quarter of 2024.Drew Wilkerson, chief executive officer of RXO, said, “RXO continued to deliver exceptional brokerage volume growth and strong margin performance in the first quarter of 2024, despite persistent softness in the freight market. Our brokerage business achieved double-digit volume growth for the fourth-consecutive quarter, with gross margin of 14.2%. Our complementary services continued to perform well, and our companywide sales pipeline is the largest it’s been in four years.“We remain focused on gaining profi
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RXO
News
- RXO, Inc. (NYSE: RXO) is now covered by analysts at Raymond James. They set a "market perform" rating on the stock.MarketBeat
- RXO, Inc. (NYSE: RXO) had its "equal weight" rating re-affirmed by analysts at Stephens. They now have a $22.00 price target on the stock.MarketBeat
- RXO, Inc. (NYSE: RXO) had its price target raised by analysts at TD Cowen from $19.00 to $20.00. They now have a "hold" rating on the stock.MarketBeat
- RXO Announces First-Quarter Results, Including Double-Digit Brokerage Volume Growth for Fourth-Consecutive Quarter [Yahoo! Finance]Yahoo! Finance
- RXO Announces Participation at Oppenheimer 19th Annual Industrial Growth ConferenceBusiness Wire
RXO
Earnings
- 5/2/24 - Beat
RXO
Sec Filings
- 5/13/24 - Form 4
- 5/8/24 - Form 4
- 5/7/24 - Form 10-Q
- RXO's page on the SEC website