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Jun 30, 2023
RXO Q2 2023 Earnings Report
RXO executed well in a soft freight market, gained market share, and maintained strong margins.
Key Takeaways
RXO reported a revenue of $1.0 billion for Q2 2023, with a net income of $3 million. The company's brokerage business experienced a 10% year-over-year volume growth. Companywide gross margin was 18.6 percent and brokerage gross margin was 15.4 percent.
Brokerage volume increased 10 percent year-over-year.
Companywide gross margin of 18.6 percent.
Brokerage gross margin of 15.4 percent.
96 percent of RXO’s orders in the quarter were created or covered digitally.
Revenue by Segment
Forward Guidance
The company expects brokerage volumes to continue to grow on a year-over-year basis in the third quarter of 2023.
Positive Outlook
- Brokerage volumes are expected to continue to grow year-over-year.
- Brokerage sales pipeline remains strong.
- Annual bid count increased by 23 percent year-over-year in the second quarter.
- RXO’s last mile business grew EBITDA year-over-year in the second quarter.
- The company continues to expect to grow full-year last mile EBITDA year-over-year.
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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