NYSE$RXO
RXO Inc. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
RXO reported mixed results for Q4 2023, with revenue declining year-over-year but brokerage volume growing double-digits for the third consecutive quarter and sequential gross margin expansion.
RXO's Q4 2023 results showed a decrease in revenue to $1.0 billion compared to $1.1 billion in Q4 2022. However, the brokerage business experienced a 15% volume increase. Net income was $2 million, a turnaround from the $4 million net loss in the same quarter last year.
- Brokerage volume grew 15% year-over-year, marking the third consecutive quarter of double-digit growth.
- Full-truckload brokerage volume increased 11% year-over-year, and less-than-truckload volume increased 45% year-over-year.
- Companywide gross margin was 18.0%, with brokerage gross margin at 14.8%.
- 97% of brokerage loads were created or covered digitally, up from 87% in the fourth quarter of 2022.
Headline financials
Revenue & EPS history
RXO · Revenue · Quarterly
$978M
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 first quarter of 2024.
Tailwinds
- Brokerage volumes expected to grow year-over-year in Q1 2024.
- Strong brokerage sales pipeline.
- Focus on profitable market share.
- Strategic investments in the business.
- Cost reduction initiatives.
Headwinds
- Prolonged soft freight environment.
- Continued cost reductions.
- Market conditions.
- Unspecified risks in SEC filings.
- Potential impacts from the company's separation.
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 Q4 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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