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. (symbol: RXO) is a pioneering brokered transportation platform leveraging cutting-edge technology and a nimble, asset-light business model. The core of the company's operations is its robust truck brokerage business, which stands as the largest component of its operations. RXO, Inc. further diversifies its portfolio with three asset-light, brokered transportation services that complement its primary business:
- Managed Transportation: Offering comprehensive transportation management solutions that streamline logistics and reduce costs for clients.
- Last Mile: Ensuring the efficient delivery of goods to the final destination, enhancing customer satisfaction with timely arrivals.
- Freight Forwarding: Facilitating the global movement of goods through strategic partnerships and optimized routing.
Operating predominantly within North America, RXO, Inc. maintains a singular reportable segment that underscores its focus within the transportation industry. The company is committed to innovation, continually enhancing its technology to provide superior services to its clientele.
Recent achievements highlight the company’s strategic initiatives and financial health, positioning RXO, Inc. as a leader in the transportation sector. Partnerships with key industry players and ongoing projects aimed at expanding service capabilities further underscore its market significance.
For the latest updates on RXO, Inc., including financial performance, ongoing projects, and strategic developments, stay tuned to our news section.
RXO (NYSE: RXO) has been awarded the 2024 Top Software & Tech award by Supply and Demand Chain Executive and Food Logistics for its innovative visual AI technology for gate check-in. Implemented in late 2023, the AI-powered system automates trailer number recording and matching at warehouses and distribution centers, resulting in a 30% reduction in gate wait times and fewer errors.
The technology, deployed at RXO's cross-border facility in Laredo, Texas, uses machine learning computer vision and text recognition to process video feeds at gatehouses, extracting data almost instantly. This automation replaces previously manual processes, demonstrating RXO's commitment to transforming transportation industry technology.
The award recognizes solutions across various categories including procurement/ERP software, robotics, supply chain visibility solutions, WMS/TMS, and warehouse automation, with winners divided between small (<$50M) and enterprise (>$49M) businesses.
RXO (NYSE: RXO) has announced its participation in two upcoming investor conferences. The first is the UBS Global Industrials and Transportation Conference in Palm Beach, Florida, where CEO Drew Wilkerson and Chief Strategy Officer Jared Weisfeld will present on Tuesday, December 3, at 3:30 p.m. EST. The second is the Goldman Sachs Industrials and Materials Conference in New York, where Jared Weisfeld and Senior Market Strategist Kevin Sterling will present on Wednesday, December 4, at 2:40 p.m. EST. Both presentations will be available via live webcasts and replays on RXO's investor website.
RXO reported third-quarter 2024 results, highlighting the completion of Coyote acquisition on September 16. Revenue reached $1.04 billion, with a companywide gross margin of 17.3%. The company reported a GAAP net loss of $243 million, including $248 million in transaction costs. Adjusted EBITDA was $33 million with a 3.2% margin. The combined company's leverage ratio decreased by over 40% to 1.6 times LTM adjusted EBITDA. In complementary services, Managed Transportation secured over $300 million in new business, while Last Mile stops grew 11% year-over-year. RXO increased its cost synergy estimate from the Coyote integration to at least $40 million.
RXO has been recognized as a 2024 Top Company for Women to Work for in Transportation by the Women in Trucking Association, marking its second consecutive year on the 'Elite 30' list. The company earned this distinction through an industry-wide vote involving over 31,000 logistics professionals.
The recognition highlights RXO's commitment to gender diversity and inclusive workplace practices. The company offers comprehensive benefits including medical coverage, paid time off, 401(k) matching, tuition reimbursement, and family benefits. RXO also promotes professional development through learning opportunities and employee groups like the Women's Inclusion Network.
RXO (NYSE: RXO) has announced its participation in two upcoming investor conferences. The company will present at the Scotiabank 24th Annual Transportation & Industrials Conference in Toronto on November 14 at 10 a.m. EST, with Chief Strategy Officer Jared Weisfeld speaking. Additionally, CEO Drew Wilkerson, CFO Jamie Harris, and Weisfeld will present at the Stephens Annual Investment Conference in Nashville on November 19 at 5:00 p.m. EST. Live webcasts and replays will be accessible through RXO's investor relations website.
RXO (NYSE: RXO) has announced a change in the timing of its third-quarter earnings and investor conference call. The event will now take place on Thursday, November 7, 2024, at 7 a.m. EST. The company's financial results will be made available on their website, www.rxo.com.
Interested parties can access the conference call through a live webcast at http://investors.rxo.com or by phone. U.S. and Canadian callers can use the toll-free number (+1) 800-549-8228, while international callers should dial (+1) 289-819-1520. The Conference ID is 82059.
A replay of the call will be available until November 28, 2024. To access the replay, U.S. and Canadian callers can dial +1-888-660-6264, and international callers can use +1-289-819-1325, with the passcode 82059#. The call will also be archived on the company's investor relations website.
RXO, a leading asset-light transportation solutions provider, presented the 2024 Carolina Panthers Oorah Hooah Classic 7-on-7 Football Tournament at Bank of America Stadium on Tuesday. The event featured active-duty service members from the Army and Marines stationed at Fort Liberty and Camp Lejeune. More than 50 service members competed on four teams in three games of pool play, followed by a single-elimination tournament.
Active Panthers players, including Austin Corbett, Brady Christensen, Nick Scott, and Jammie Robinson, coached and cheered on the military teams. RXO, the official supply chain and logistics partner of the Panthers, also made a $10,000 donation to Veteran's Bridge Home to support veterans in various aspects of their reintegration.
RXO (NYSE: RXO) has announced its schedule for the third-quarter earnings release and investor conference call. The company will release its financial results on Thursday, November 7, 2024, before the New York Stock Exchange opens. The results will be available on the company's website, www.rxo.com.
Following the release, RXO will host a conference call at 8 a.m. EST on the same day. Investors can access the call through a live webcast or by phone. The conference call details include:
- Webcast: http://investors.rxo.com
- U.S./Canada toll-free: (+1) 800-549-8228
- International: (+1) 289-819-1520
- Conference ID: 82059
A replay of the call will be available until November 28, 2024, and can be accessed using the passcode 82059#. The call will also be archived on the company's investor relations website.
RXO (NYSE: RXO) leaders Karin Bridges and Lindsey Martinez have been honored with the 2024 Women in Supply Chain Award by Supply & Demand Chain Executive and Food Logistics. Bridges, senior director of operations for freight forwarding, was recognized in the Trailblazers category for her 20+ years of experience and leadership of over 260 employees. Martinez, director of procurement for managed transportation, was named in the DEI Pioneer category for her contributions to diversity, equity, and inclusion efforts.
Key achievements include Bridges overseeing the combination of RXO's freight forwarding and managed transportation businesses, while Martinez's strategies resulted in a 50% decrease in new customer launch time. Both leaders are actively involved in promoting women in the industry through RXO's Women's Inclusion Network and other initiatives.
RXO (NYSE: RXO) has completed its acquisition of Coyote Logistics from UPS for $1.025 billion, becoming the third-largest provider of brokered transportation in North America. This strategic move enhances RXO's market position, diversifies its customer base, and expands its carrier network. The acquisition offers customers increased network density and additional power lanes, while providing carriers access to more customers and opportunities to reduce deadhead miles. CEO Drew Wilkerson emphasized the benefits for both customers and carriers, highlighting the company's focus on service, comprehensive solutions, innovation, and deep relationships.
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