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.
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RXO (NYSE: RXO) announced its financial results for the fourth quarter and full year of 2023, with continued growth in its brokerage business, increased gross margin, and a focus on cost discipline. The company's revenue was $1.0 billion for the fourth quarter, with a gross margin of 18.0 percent. Adjusted EBITDA was $31 million, compared to $64 million in the fourth quarter of 2022. RXO's brokerage business grew volume 15 percent year-over-year in the fourth quarter, including full truckload volume growth of 11 percent and less-than-truckload volume growth of 45 percent. The company's complementary services gross margin was 20.9% for the quarter, up 40 basis points year-over-year.
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RXO (NYSE: RXO) will participate in the Barclays 41st Annual Industrials Select Conference in Miami, Florida. The CEO, chief strategy officer, and senior market strategist will present on February 21. A live webcast and replay will be available on the company's investor website.
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RXO (NYSE: RXO) has launched a new AI-powered check-in system for trucks at warehouses and distribution centers, reducing wait times and improving data accuracy. The visual AI technology automates the process of recording trailer numbers and matching appointments, streamlining the check-in and security process. This system has already produced positive results at RXO's Laredo, Texas facility, and the company plans to implement it at other high truck volume locations and offer it as a standalone service to other companies.
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RXO (NYSE: RXO) to Release Fourth-Quarter Financial Results on February 8, 2024
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RXO (NYSE: RXO) has been recognized with the Top Software & Tech award by Supply and Demand Chain Executive and Food Logistics for its technology platform, RXO Connect™, which offers shippers a convenient way to move freight with more than 10,000 reliable carriers. The application incorporates robust AI and machine learning algorithms trained on more than a decade's worth of rich data. This recognition highlights RXO's commitment to transforming the transportation industry with cutting-edge technology.
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RXO (NYSE: RXO) announces the expansion of its Dublin, Ohio brokerage office, creating 75 new jobs and investing over $2.5 million in a 20,000-square-foot space. The company aims to better serve its customers and has received support from JobsOhio and the Ohio Department of Development. The office features standing workstations, a large employee break area, and various amenities for collaboration. RXO offers tech-enabled truck brokerage services, managed transportation, freight forwarding, and last mile delivery.
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RXO (NYSE: RXO) Earns 2024 Military Friendly® Employer Designation, Commits to Supporting Veterans
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RXO (NYSE: RXO) Expands Freight Brokerage Office in Plano, Texas, Investing Over $2 Million in 13,500-Square-Foot Facility
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RXO (NYSE: RXO) announced its Q3 2023 financial results. Full-truckload brokerage volume increased 13%, less-than-truckload volume increased 55%. Companywide gross margin was 17.7%. Revenue was $1.0 billion, with a GAAP net loss of $1 million. Adjusted net income was $6 million. Brokerage business grew volume 18% year-over-year. RXO's technology platform covered 97% of brokerage loads. The company also improved its capital structure.
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RXO, a leading provider of asset-light transportation solutions, is celebrating its one-year anniversary as a standalone, publicly traded company. Since its spin-off from XPO on November 1, 2022, RXO has achieved significant milestones, including opening new offices and a cross-border facility, winning awards, and reaching over one million downloads of its app, RXO Drive™.
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FAQ
What is the current stock price of RXO (RXO)?
The current stock price of RXO (RXO) is $27.54 as of November 20, 2024.
What is the market cap of RXO (RXO)?
The market cap of RXO (RXO) is approximately 4.4B.
What is RXO, Inc.?
RXO, Inc. is a brokered transportation platform focused on truck brokerage and complemented by managed transportation, last mile, and freight forwarding services.
What services does RXO, Inc. offer?
RXO, Inc. offers truck brokerage, managed transportation, last mile delivery, and freight forwarding services.
Where does RXO, Inc. primarily operate?
RXO, Inc. primarily operates within North America.
What is the business model of RXO, Inc.?
RXO, Inc. operates an asset-light business model, focusing on using advanced technology to enhance brokered transportation services.
What is the core business of RXO, Inc.?
The core business of RXO, Inc. is truck brokerage.
How does RXO, Inc. enhance its services?
RXO, Inc. uses cutting-edge technology to improve its transportation services, focusing on efficiency and customer satisfaction.
What is the structure of RXO, Inc.'s operations?
RXO, Inc. operates in one reportable segment within the transportation industry, focusing on brokered services.
Does RXO, Inc. have any partnerships?
Yes, RXO, Inc. has strategic partnerships with key industry players to enhance its service offerings.
What are the latest developments at RXO, Inc.?
For the latest updates on RXO, Inc.'s financial performance, projects, and strategic initiatives, refer to our news section.
Why is the asset-light model significant for RXO, Inc.?
The asset-light model allows RXO, Inc. to be nimble and efficient, reducing overhead costs while leveraging technology to optimize transportation services.
RXO, Inc.
NYSE:RXO
RXO Rankings
RXO Stock Data
4.41B
158.33M
0.72%
103.48%
2.52%
Trucking
Transportation Services
United States of America
CHARLOTTE