RXO Reports Third-Quarter Results with Coyote Integration Ahead of Schedule and Complementary Services Momentum
RXO, Inc. (RXO)
Company Research
Source: Business Wire
Coyote acquisition completed September 16; integration well underway and progressing smoothly. Raising annualized cost synergy estimate to at least $40 million.Strengthened balance sheet while financing Coyote acquisition; combined company leverage ratio decreased by more than 40%Companywide gross margin of 17.3%; Brokerage gross margin of 13.7%Managed Transportation was awarded more than $300 million in new freight under managementLast Mile stop growth continued to accelerate and grew 11% year-over-year CHARLOTTE, N.C.--(BUSINESS WIRE)--RXO (NYSE: RXO) today announced its financial results for the third quarter of 2024.Drew Wilkerson, chief executive officer of RXO, said, “In the third quarter, our focus on execution enabled us to achieve a solid 13.7% gross margin in our Brokerage business, despite the prolonged soft freight market. Momentum continued within our complementary services. In Managed Transportation, we secured more than $300 million in new business and continue to ha
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RXO
News
- RXO, Inc. (NYSE: RXO) had its price target lowered by analysts at Susquehanna from $16.00 to $12.00. They now have a "negative" rating on the stock.MarketBeat
- RXO, Inc. (NYSE: RXO) was downgraded by analysts at Citigroup Inc. from a "buy" rating to a "neutral" rating. They now have a $33.00 price target on the stock.MarketBeat
- RXO, Inc. (NYSE: RXO) had its "equal weight" rating re-affirmed by analysts at Wells Fargo & Company. They now have a $31.00 price target on the stock.MarketBeat
- RXO (RXO) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates [Yahoo! Finance]Yahoo! Finance
- RXO Named Top Company for Women to Work for in TransportationBusiness Wire
RXO
Earnings
- 11/7/24 - Beat
RXO
Sec Filings
- 11/12/24 - Form SC
- 11/12/24 - Form SC
- 11/8/24 - Form SC
- RXO's page on the SEC website