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Stock impact report

RXO Announces Third-Quarter Results

RXO, Inc. (RXO) 
Company Research Source: Business Wire
Brokerage volume growth of 1% year over year driven by less-than-truckload volume growth of 43%Last Mile achieved 12% year-over-year stop growth, the fifth consecutive quarter of double-digit growthStrong quarterly cash performance with cash balance increasing sequentiallyFull-truckload market has significantly tightened, driven by capacity exits. Market tightness is expected to persist throughout the fourth quarter, squeezing contractual brokerage gross marginNew cost initiatives expected to yield more than $30 million of incremental savings CHARLOTTE, N.C.--(BUSINESS WIRE)--RXO (NYSE: RXO) today reported its third-quarter financial results.RXO Chairman and CEO Drew Wilkerson said, “Market conditions tightened late in the third quarter as truckload capacity exits accelerated, which impacted both our buy rates and Brokerage gross margin. We also saw a further weakening of demand across our business as the quarter progressed. Both of these dynamics have continued into the fourth qua Show less Read more
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