NYSE$RXO
RXO Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
RXO executed well, achieving a record number of brokerage loads per day and double-digit brokerage volume growth for the second consecutive quarter.
RXO's revenue was $1.0 billion, compared to $1.1 billion in the third quarter of 2022. The company reported a GAAP net loss of $1 million, compared to net income of $13 million in the third quarter of 2022. Brokerage volume grew 18 percent year-over-year.
- Brokerage volume grew 18 percent year-over-year.
- Full-truckload brokerage volume increased 13 percent year-over-year and less-than-truckload volume increased 55 percent year-over-year.
- Companywide gross margin was 17.7 percent; brokerage gross margin was 15.1 percent.
- Brokerage contract volume increased by 30 percent year-over-year.
Headline financials
Revenue & EPS history
RXO · Revenue · Quarterly
$976M
Revenue by segment
RXO · $954M total across 3 segments · Q3 2023
- Truck Brokerage$591M—61.9%
- Last Mile$256M—26.8%
- Managed Transportation$107M—11.2%
Forward guidance
The company expects brokerage volumes to continue to grow on a year-over-year basis in the fourth quarter of 2023.
Tailwinds
- Brokerage volumes are expected to continue to grow
- Strong brokerage sales pipeline
- Increased brokerage sales pipeline by 115 percent since the third quarter of 2021
- Last mile business grew EBITDA year-over-year
- Company continues to expect to grow full-year last mile EBITDA year-over-year
Headwinds
- Market remains soft
- Monitoring the freight markets closely
- GAAP net loss of $1 million, compared to net income of $13 million in the third quarter of 2022
- Adjusted EBITDA was $26 million, compared to $66 million in the third quarter of 2022
- Adjusted EBITDA margin was 2.7 percent, compared to 5.8 percent in the third quarter of 2022
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q3 2023
-1.8%
Avg return
Earnings day
-2.4%
Avg return
5 days after
-1.0%
Avg return
30 days after
47%
9 / 19 earnings
Positive
+9.6%
Q4 2022
Best reaction
-23.1%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +8.9% | +2.0% | +36.9% | |
| Q4 2025 | +1.9% | -1.5% | -17.1% | |
| Q3 2025 | -23.1% | -30.9% | -18.1% | |
| Q1 2025 | -5.6% | +17.4% | +16.5% | |
| Q4 2024 | -14.9% | -14.9% | -21.6% | |
| Q3 2024 | -6.6% | -12.9% | -10.5% | |
| Q2 2024 | -3.4% | -5.8% | -10.5% | |
| Q1 2024 | +7.4% | +9.1% | +7.4% | |
| Q4 2023 | -9.8% | -4.6% | -7.0% | |
| Q3 2023 | -5.1% | -1.4% | +14.6% | |
| Q2 2023 | -10.4% | -8.3% | -16.7% | |
| Q1 2023 | +3.5% | +4.9% | +19.3% | |
| Q1 2022 | +3.5% | +4.9% | +19.3% | |
| Q4 2020 | -0.9% | -1.9% | -9.7% | |
| Q2 2022 | -0.9% | -1.9% | -9.7% | |
| Q4 2022 | +9.6% | +4.6% | +3.8% | |
| Q3 2021 | +3.7% | -1.3% | -5.6% | |
| Q4 2021 | +3.7% | -1.3% | -5.6% | |
| Q3 2022 | +3.7% | -1.3% | -5.6% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
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