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Mar 31, 2024
RXO Q1 2024 Earnings Report
RXO reported a net loss amidst persistent freight market softness, achieving double-digit brokerage volume growth and improved gross margins.
Key Takeaways
RXO's revenue was $0.9 billion for the first quarter, compared to $1.0 billion in the first quarter of 2023. The company reported a first-quarter 2024 GAAP net loss of $15 million. Adjusted EBITDA was $15 million, compared to $37 million in the first quarter of 2023.
Brokerage volume increased by 11% year-over-year.
Full-truckload volume growth of 8% and less-than-truckload volume growth of 29% year-over-year.
Companywide gross margin of 17.4%; brokerage gross margin of 14.2%.
Companywide sales pipeline the largest it has been in four years.
Revenue by Segment
Forward Guidance
RXO expects second-quarter 2024 companywide adjusted EBITDA to be between $24 million and $30 million. The company expects second-quarter 2024 brokerage gross margin to be between 13% and 15%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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