RXO

XPO’s Jacobs on his next venture: Wait and see

GREENWICH, Conn. — When Brad Jacobs took the stage Tuesday at the Greenwich Economic Forum, the big question on everybody’s mind was: Just what is Jacobs Private Equity going to do?

That’s the next act for the man who founded XPO Inc. (NYSE: XPO) and who serves as its executive chairman as well as executive chairman of its two relatively recent spinoffs: logistics management company GXO (NYSE: GXO) and 3PL RXO (NYSE: RXO).

Jacobs Private Equity is Jacobs’ next venture. And despite a few mild...

https://www.freightwaves.com/news/xpos-jacobs-on-his-next-venture-wait-and-see

Reducing waste, manual touches ‘big opportunity’ for C.H. Robinson

With the fall season for investment conferences kicking off within the first days after Labor Day, it also means that new C.H. Robinson CEO Dave Bozeman is taking to the road to make his case about how to engineer a rebound at the country’s largest 3PL.

At the TD Cowen conference in Boston Thursday, Bozeman returned to many of the same themes that he addressed during his first quarterly earnings call with analysts in August, though with another month of experience under his belt. Bozeman took...

https://www.freightwaves.com/news/reducing-waste-manual-touches-big-opportunity-for-c-h-robinson

Flat sequential performance at 3PL RXO leaves Wall Street unimpressed

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Financial metrics and earnings at 3PL RXO, which soared above the rest of the industry in the first...

https://www.freightwaves.com/news/flat-sequential-performance-at-3pl-rxo-leaves-wall-street-unimpressed

TriumphPay records progress on profitability in tough quarter

Although some of the metrics at TriumphPay weakened in the second quarter, the trucking-focused Triumph Financial said that segment — which management sees as the key to its future — continued to move toward EBITDA profitability.

The management at Triumph Financial (NASDAQ: TFIN), which operates the TriumphPay payments and audit network as well as its traditional factoring activities, has repeatedly invoked earnings before interest, taxes, depreciation and amortization as the measurement of...

https://www.freightwaves.com/news/triumphpay-records-progress-on-profitability-in-tough-quarter

Odyssey Logistics gets better outlook from Moody’s than some peers

Debt ratings agencies may recently have cast a negative view of brokerage houses, but Moody’s has increased the outlook on Odyssey Logistics & Technology from stable to positive.

The 3PL’s debt rating was affirmed at existing levels.

RXO (NYSE: RXO) last month held on to its debt rating of BB+ from S&P Global Ratings (NYSE: SPGI) but saw its outlook drop from positive to stable. C.H. Robinson (NASDAQ: CHRW) last month had a similar review with S&P Global Ratings in that its investment-grade...

https://www.freightwaves.com/news/odyssey-logistics-gets-better-outlook-from-moodys-than-some-peers

RXO outlook cut to negative but important debt rating not reduced

RXO has hung on to its BB+ rating from S&P Global, but the outlook on the company has been dropped down one level.

RXO, spun off from XPO (NYSE: XPO) last fall, was given a BB+ rating by S&P Global Ratings at the time the brokerage company became a separate entity. At the same time, RXO was also given a “positive” outlook by S&P, which suggested that credit and market conditions for the company were strong enough so that an increase in the rating was possible in the coming 12 months.

That move...

https://www.freightwaves.com/news/rxo-outlook-cut-to-negative-but-important-debt-rating-not-reduced

RXO comes in relatively strong in quarter full of weak freight earnings

On the earnings call Wednesday for publicly traded 3PL RXO, Ravi Shanker of Morgan Stanley asked the question that lingered after the upbeat statements by company management: How can this company’s leaders be so optimistic?

Shanker is one of the network of transportation analysts who have sat through one dreary Q1 earnings call after another, with executives across the spectrum all talking about the “soft” market — a four-letter word that has come up on virtually every call — and forecasts that...

https://www.freightwaves.com/news/rxo-comes-in-relatively-strong-in-quarter-full-of-weak-freight-earnings

Borderlands: RXO invests $30M, expands logistics operation in South Texas

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Borderlands is a weekly rundown of developments in the world of U.S.-Mexico cross-border trucking...

XPO’s debt rating gets 1-notch upgrade

Almost eight months after signaling such a move, S&P Global Ratings has raised the debt rating of XPO Logistics.

XPO (NYSE: XPO) had been put on CreditWatch positive in June. Such a move does not guarantee a higher rating but is usually a precursor to one.

In the latest move, XPO’s debt rating was raised to BB+ from BB. That places it one notch under the level that would rate the company’s debt as investment grade. At BB+, it is still considered speculative, but that is the highest rating in the...

https://www.freightwaves.com/news/xpos-debt-rating-gets-1-notch-upgrade

Sources: Clarke would seriously consider C.H. Robinson CEO job

Andrew Clarke, the former CFO at brokerage giant C.H. Robinson Worldwide Inc., would seriously consider an offer from the board to return to the company as CEO following last week’s abrupt firing of president and CEO Bob Biesterfeld, according to sources familiar with the situation.

Clarke, who served as the Eden Prairie, Minnesota-based company’s CFO from 2015-19, would consider it a “fascinating opportunity” to assume the helm of the nation’s largest broker and $25 billion company, said one of...

https://www.freightwaves.com/news/sources-clarke-would-seriously-consider-ch-robinson-ceo-job

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