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Mar 31, 2023
RXO Q1 2023 Earnings Report
RXO reported solid first-quarter performance driven by market share gains, strong profitability and cash flow.
Key Takeaways
RXO's first-quarter revenue reached $1.01 billion. The company's brokerage business experienced a 6% increase in volume year-over-year and maintained a brokerage gross margin of 16.3 percent. The Board of Directors authorized a $125 million share repurchase program.
Brokerage volume increased 6% year-over-year.
Brokerage gross margin was 16.3 percent.
Operating cash flow was $42 million and adjusted free cash flow was $37 million.
Company announced a $125 million share repurchase program.
RXO
RXO
RXO Revenue by Segment
Forward Guidance
The company expects brokerage volumes to continue to grow on a year-over-year basis in the second quarter of 2023.