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 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.
RXO (NYSE: RXO) announced participation in two investor conferences in Miami Beach, Florida. The Citi 2023 Global Industrial Tech and Mobility Conference will feature CEO Drew Wilkerson, CFO Jamie Harris, and Chief Strategy Officer Jared Weisfeld on February 21, from 8-8:40 a.m. EST. The Barclays Industrial Select Conference is scheduled for February 23, from 1:50-2:20 p.m. EST. Live webcasts of the presentations can be accessed at investors.rxo.com. RXO is a tech-enabled provider of asset-light transportation solutions, connecting 10,000 customers with over 100,000 independent carriers across North America.
RXO has launched RXO Extra, an initiative providing carriers with an expanded suite of exclusive partnerships and discounts aimed at enhancing business growth. This online marketplace offers cost-saving opportunities on fuel, maintenance, tires, and more, thus incentivizing carrier loyalty and increasing shipping capacity. Key partnerships include discounts on SiriusXM subscriptions, hotel rates via CLC Lodging, and access to DAT Load Boards. According to Lou Amo, RXO’s president, this initiative is designed to support carriers by making cost-saving resources easily accessible.
RXO (NYSE: RXO) has announced its fourth quarter conference call and webcast scheduled for February 8 at 8 a.m. Eastern Time. The financial results will be available after market close on February 7, 2023, and can be accessed via www.rxo.com. Live viewing is possible at investors.rxo.com. A replay will be offered until March 1, 2023, with call details provided. RXO specializes in asset-light transportation solutions and operates a tech-enabled truck brokerage, connecting over 10,000 customers with 100,000 carriers across North America.
RXO, Inc. (NYSE: RXO) has partnered with the Women in Trucking Association to promote gender diversity and inclusivity in the trucking industry. CEO Drew Wilkerson emphasized the company's commitment to empowering women at all levels. RXO, established in 2007, operates as a leading provider of asset-light transportation solutions, utilizing cutting-edge technology to connect around 10,000 customers with over 100,000 independent carriers across North America.
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