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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.
RXO
RXO
RXO Revenue by Segment
Revenue by Segment
Truck brokerage Revenue
CapyFin.comLast mile Revenue
CapyFin.comManaged transportation Revenue
CapyFin.com 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