Earnings summaries and quarterly performance for RXO.
Executive leadership at RXO.
Board of directors at RXO.
Research analysts who have asked questions during RXO earnings calls.
Ken Hoexter
BofA Securities
5 questions for RXO
Also covers: ARCB, CHRW, CNI +21 more
Christian Wetherbee
Wells Fargo
4 questions for RXO
Also covers: ARCB, CHRW, CNI +14 more
JA
Jordan Alliger
Goldman Sachs
4 questions for RXO
Also covers: ARCB, CSX, FDX +13 more
SG
Scott Group
Wolfe Research
4 questions for RXO
Also covers: AAL, ALGT, ALK +35 more
David Zazula
Barclays
3 questions for RXO
Also covers: ACHR, CNI, HUBG +4 more
RS
Ravi Shanker
Morgan Stanley
3 questions for RXO
Also covers: AAL, ALGT, ALK +27 more
Scott Schneeberger
Oppenheimer & Co. Inc.
3 questions for RXO
Also covers: CSV, CTAS, CTOS +12 more
Stephanie Moore
Jefferies
3 questions for RXO
Also covers: APG, ARCB, ARMK +30 more
AR
Ariel Rosa
Citigroup
2 questions for RXO
Also covers: ARCB, CHRW, CNI +16 more
BO
Brandon Oglenski
Barclays
2 questions for RXO
Also covers: AAL, ALGT, ALK +21 more
DI
Daniel Imbro
Stephens Inc.
2 questions for RXO
Also covers: ARCB, CHRW, CNI +23 more
JS
Jason Seidl
TD Cowen
2 questions for RXO
Also covers: ARCB, CHRW, CSX +17 more
JB
J. Bruce Chan
Stifel
2 questions for RXO
Also covers: ARCB, CENN, CHRW +14 more
Jeffrey Kauffman
Vertical Research Partners
2 questions for RXO
Also covers: ARCB, CHRW, CMI +14 more
TW
Tom Wadewitz
UBS Group
2 questions for RXO
Also covers: ARCB, CHRW, CNI +19 more
BO
Brian Ossenbeck
JPMorgan Chase & Co.
1 question for RXO
Also covers: ARCB, CHRW, CNI +18 more
David Hicks
Raymond James
1 question for RXO
Also covers: CHRW, KNX, LSTR +1 more
JH
Joe Hoffman
Jefferies
1 question for RXO
Joseph Lawrence Hafling
Jefferies
1 question for RXO
Also covers: FWRD, GXO, SAIA +3 more
Ld
Lucas de Servera
Truist Financial Corporation
1 question for RXO
Ravi Shankar
Morgan Stanley
1 question for RXO
Also covers: ALK, AUR, CP +8 more
Thomas Wadewitz
UBS
1 question for RXO
Also covers: ALK, ARCB, CHRW +20 more
Recent press releases and 8-K filings for RXO.
RXO Reports Q4 2025 Results and Provides Q1 2026 Outlook
RXO
Earnings
Guidance Update
Demand Weakening
- RXO reported Q4 2025 total revenue of $1.5 billion and adjusted EBITDA of $17 million, resulting in an adjusted loss per share of $0.07. This performance was below expectations, primarily due to a brokerage margin squeeze driven by a 15% month-over-month increase in industry-wide buy rates in December and continued soft demand.
- The company finalized a new $450 million asset-based lending (ABL) facility, replacing its previous revolver, which is expected to decrease costs and provide increased financial flexibility. RXO also achieved a 43% adjusted free cash flow conversion for the full year 2025, aligning with its long-term target range.
- For Q1 2026, RXO anticipates Adjusted EBITDA between $5 million and $12 million and expects brokerage gross margin to be between 11% and 13%. The outlook reflects continued weak freight demand and elevated purchased transportation costs, although the company expects truckload volume to resume year-over-year outperformance by mid-2026.
- Strategic initiatives include a more than 50% year-over-year growth in the late-stage brokerage sales pipeline and over $200 million in freight under management awarded in Q4. RXO has also implemented cost structure optimizations, taking out over $155 million in costs since becoming a standalone company.
14 hours ago
RXO Reports Q4 2025 Results, Issues Q1 2026 Guidance, and Secures New Lending Facility
RXO
Earnings
Guidance Update
Debt Issuance
- RXO reported Q4 2025 total revenue of $1.5 billion, adjusted EBITDA of $17 million, and an adjusted loss per share of $0.07. The company's brokerage gross margin was 11.9%, significantly impacted by a 15% month-over-month increase in industry buy rates in December and soft demand.
- For the full year 2025, RXO achieved $5.7 billion in total revenue, $109 million in adjusted EBITDA, and a 43% adjusted free cash flow conversion.
- The company finalized a new $450 million asset-based lending facility in Q4 2025, replacing its previous $600 million revolver, which is expected to decrease costs by approximately $400,000 in annual unused commitment fees and provide increased financial flexibility.
- For Q1 2026, RXO expects Adjusted EBITDA between $5 million and $12 million and anticipates brokerage gross margin to be between 11% and 13%, reflecting continued soft freight demand and elevated purchased transportation costs.
- RXO's late-stage brokerage sales pipeline grew more than 50% year-over-year, and its managed transportation business was awarded over $200 million of freight under management in Q4 2025.
14 hours ago
RXO Reports Q4 2025 Results and Provides Q1 2026 Outlook
RXO
Earnings
Guidance Update
Demand Weakening
- RXO reported Q4 2025 total revenue of $1.5 billion and adjusted EBITDA of $17 million, resulting in an adjusted loss per share of $0.07. For the full year 2025, total revenue reached $5.7 billion with adjusted EBITDA of $109 million, and a 43% adjusted free cash flow conversion.
- The company projects Q1 2026 adjusted EBITDA between $5 million and $12 million, anticipating continued soft freight demand and elevated purchased transportation costs. Brokerage gross margin is expected to be between 11% and 13% for Q1 2026.
- Strategic actions include finalizing a new $450 million asset-based lending facility to enhance financial flexibility and save $400,000 annually in unused commitment fees.
- The late-stage brokerage sales pipeline grew by over 50% year-over-year, and LTL volume increased 31% in Q4 2025, with expectations to resume year-over-year truckload volume outperformance by mid-2026.
15 hours ago
RXO Announces Q4 2025 Results and Q1 2026 Outlook
RXO
Earnings
Guidance Update
Demand Weakening
- RXO reported Q4 2025 revenue of $1,469 million, adjusted EBITDA of $17 million, and an adjusted diluted EPS of $(0.07).
- The company's Brokerage gross margin tightened to 11.9% in Q4 2025 due to a significantly tightened full-truckload market, with TL volume down 12% year-over-year.
- RXO finalized a new $450 million ABL facility and reported net debt of $400 million with a net leverage of 3.0x at the end of Q4 2025.
- For Q1 2026, the company anticipates adjusted EBITDA between $5 million and $12 million and expects Brokerage volume to be down 5%-10% year-over-year.
- RXO has a $125 million share repurchase program as part of its balanced capital allocation strategy.
18 hours ago
RXO Reports Q4 2025 Financial Results Amid Market Tightening
RXO
Earnings
Guidance Update
Demand Weakening
- RXO reported revenue of $1.469 billion for the fourth quarter of 2025, a decrease from $1.667 billion in the prior year, leading to a GAAP net loss of $46 million and adjusted EBITDA of $17 million.
- The company's Brokerage business experienced a 4% year-over-year volume decline in Q4 2025, with its gross margin squeezed to 11.9% due to a significantly tightened full-truckload market.
- RXO finalized a new $450 million asset-based revolving credit facility in the first quarter of 2026, which replaces its previous $600 million unsecured facility and aims to provide greater financial flexibility.
- For the first quarter of 2026, RXO anticipates adjusted EBITDA to be between $5 million and $12 million, and expects Brokerage volume to decline by 5% to 10% year-over-year with a gross margin between 11% and 13%.
18 hours ago
RXO Discusses Coyote Integration, Market Dynamics, and AI Strategy
RXO
M&A
Demand Weakening
New Projects/Investments
- RXO has materially completed the integration of Coyote within 12 months, unifying its operations and technology, establishing itself as the third largest provider of brokered transportation in North America.
- Despite a prolonged soft freight demand environment (Cass freight shipments down 7% year over year in October 2025), market dynamics show increasing tender rejections and spot rates due to significant supply reduction.
- Recent regulatory changes in 2025, such as English language proficiency requirements and rules on non-domiciled CDLs, have led to a substantial reduction in market capacity, with 200,000 CDLs identified at risk and 17,000 non-domiciled CDLs revoked in California.
- RXO expects to achieve 1% in purchased transportation (PT) savings on its $4 billion brokerage PT spend, having already realized 30 to 50 basis points since May 2025, with a target of 100 basis points by May 2026.
- The company invests over $100 million annually in technology and AI, which has contributed to a 38% increase in productivity over the last two years, aiming to enhance incremental margins.
Dec 3, 2025, 3:50 PM
RXO Discusses Coyote Integration, Market Outlook, and AI Strategy
RXO
M&A
Guidance Update
New Projects/Investments
- RXO has materially completed the integration of its Coyote acquisition as of December 2025, positioning it as the third largest provider of brokered transportation in North America. This integration is expected to leverage increased scale to reduce costs and diversify its market mix.
- While the Coyote integration was operationally successful and on schedule, financial results in 2025 were below expectations due to a softer market and aggressive pricing actions.
- The company anticipates achieving 1% in purchased transportation (PT) savings on its $4 billion brokerage PT spend, with 30 to 50 basis points already realized and the full 100 basis points expected by May 2026.
- Significant regulatory changes in 2025 regarding driver qualifications have reduced market capacity, which RXO believes will lead to a lower supply environment and potentially higher rates for longer in the future, benefiting large brokers.
- RXO is leveraging AI to improve productivity, which has increased by 38% over the last two years, aiming to enhance incremental margins and grow volume without a proportional increase in headcount.
Dec 3, 2025, 3:50 PM
RXO Discusses Coyote Integration, Market Dynamics, and Technology Investments
RXO
M&A
Demand Weakening
New Projects/Investments
- RXO has materially completed the integration of the Coyote acquisition within 12 months, establishing itself as the third largest provider of brokered transportation in North America.
- Despite a prolonged soft freight environment in 2025, with Cass freight shipments down 7% year over year in October, key freight indicators like tender rejections and spot rates have been rising due to supply constraints.
- Regulatory changes in 2025 concerning CDLs have significantly reduced market capacity, which RXO views as a long-term positive for large brokers, potentially leading to a lower supply environment and higher rates.
- RXO invests over $100 million annually in technology, including AI, which has boosted productivity by 38% over the last two years and is expected to enhance margins and improve SG&A.
- The company expects to achieve 100 basis points of incremental buy rate favorability on its $4 billion purchased transportation spend by May 2026, having already realized 30 to 50 basis points since the carrier cutover on May 1st.
Dec 3, 2025, 3:50 PM
RXO Discusses Prolonged Soft Freight Market, Q4 Outlook, and Coyote Integration Benefits
RXO
Guidance Update
Demand Weakening
M&A
- RXO reports a prolonged soft rate market, with Cass Freight Shipments down 7% year over year in October 2025, approaching Great Financial Crisis lows from 2008.
- The company's Q4 outlook projects adjusted EBITDA between $20 million and $30 million, reflecting a muted peak season and rising costs of purchased transportation, which offsets positive truckload volume growth.
- Structural changes in the freight market, including the FMCSA potentially removing 200,000 non-domiciled CDLs, are tightening supply and are seen as positive for large-scale brokers like RXO in the long term.
- RXO has achieved $155 million in annualized operating expense reductions, including $60 million from Coyote, and expects an additional $30-$35 million in annualized cost benefits in 2026. The Coyote integration is largely complete, and RXO anticipates 100 basis points of incremental buy rate favorability by May 2026.
- Despite underperforming in truckload volume growth in 2025 (e.g., Q3 down 12%), RXO expects automotive to cease being a material headwind in Q1 2026 and aims to resume market outperformance as a fully integrated company.
Dec 2, 2025, 8:30 PM
RXO Discusses Q4 Outlook, Market Dynamics, and Integration Synergies
RXO
Guidance Update
Demand Weakening
M&A
- RXO projects Q4 2025 adjusted EBITDA of $20 million-$30 million, noting that while truckload volumes are expected to grow sequentially, rising purchased transportation costs and slowing last-mile demand will mute the typical seasonal uplift.
- The freight market is experiencing a prolonged soft rate environment, but supply-side tightening is evident due to structural and regulatory changes, with an estimated 200,000 non-domiciled CDLs potentially exiting the market.
- RXO has achieved $155 million in annualized operating expense reductions since its spin-off, including $60 million from Coyote, and expects a $30-$35 million year-on-year tailwind in 2026 from these cost takeouts and synergies. The company also aims for 100 basis points of incremental buy rate favorability by May 2026 from the Coyote integration.
- Despite underperforming in truckload volume growth in 2025 (e.g., Q3 down 12%), RXO anticipates automotive headwinds to become immaterial in Q1 2026 and truckload comps to ease in Q2 2026, positioning the company for market outperformance. RXO also invests over $100 million annually in technology and has achieved 38% productivity growth over the past two years, with significant potential from AI.
Dec 2, 2025, 8:30 PM
Quarterly earnings call transcripts for RXO.
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