RXO

Fireside Chat: RXO CEO discusses navigating 2025

This fireside chat recap is from FreightWaves’ 3PL Summit on Wednesday.

FIRESIDE CHAT TOPIC: Managing peak season and planning for 2025

DETAILS: Peak season presents its own challenges and with 2025 on the horizon, planning ahead is paramount. Drew Wilkerson, CEO at RXO, and FreightWaves’ Mary O’Connell break down year-end and what to expect and plan for in the first quarter of 2025.

KEY QUOTES FROM WILKERSON:

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https://www.freightwaves.com/news/fireside-chat-rxo-ceo-discusses-navigating-2025

The Curve and the next freight cycle

On a recent episode of WHAT THE TRUCK?!?, Corey Klujsza, vice president of pricing and procurement strategy at RXO, joined host Timothy Dooner to talk about the Curve, the company’s latest spot market report and what the report means for the freight market.

The Curve, formerly known as the Coyote Curve, is an expanded version of the robust dataset that goes back over five freight cycles. As the dataset enters its sixth cycle with the added data from RXO, which acquired Coyote Logistics, Klujsza...

https://www.freightwaves.com/news/the-curve-and-the-next-freight-cycle

RXO, with Coyote in the fold, projects big jump in efficiency-driven savings

Third-quarter earnings at 3PL giant RXO included just two weeks’ worth of finances from the Sept. 15 closing of its acquisition of Coyote Logistics. But RXO’s management likes what it has seen enough so far that it made a significant change in projections of how the acquisition will impact the combined companies.

One group that did not like what it saw in the earnings report: investors. At approximately 3:15 p.m. EST, RXO (NYSE: RXO) stock was down $2.98, to $29.93, a decline of 9.18%. RXO is...

https://www.freightwaves.com/news/rxo-with-coyote-in-the-fold-projects-big-jump-in-efficiency-driven-savings

RXO Q3 earnings: First look

Here are some highlights from RXO’s third-quarter earnings report:

  • The earnings are the first at RXO (NYSE: RXO) to reflect numbers from Coyote Logistics. However, that deal closed Sept. 16, so it is a relatively minor part of the numbers.
  • RXO’s operations lost money in the quarter. The operating loss was $20 million compared to operating income a year earlier of $6 million. RXO had transaction, integration, restructuring and other costs that impacted GAAP earnings by $1.86 per share. It...

https://www.freightwaves.com/news/rxo-q3-earnings-first-look

TriumphPay gets back to a positive EBITDA

TriumphPay, the payments and processing arm of Triumph Financial, turned in a positive EBITDA for the third quarter for only the second time in its history.

Positive earnings before interest, taxes, depreciation and amortization at TriumphPay has been a highly sought goal for its parent, Triumph Financial (NASDAQ: TFIN), for many quarters. TriumphPay recorded a slightly positive EBITDA margin in the fourth quarter of 2023, so small that the $36,000 in positive EBITDA margin is listed in the...

https://www.freightwaves.com/news/triumphpay-gets-back-to-a-positive-ebitda

RXO gets support from S&P after 2 big stock sales to fund Coyote acquisition

Any company with publicly traded debt views its rating from agencies such as Standard & Poor’s as of paramount importance. And last week, 3PL RXO received a thumbs-up from Standard & Poor’s Global Ratings (NYSE: SPGI) on the steps it has taken to fund its acquisition of Coyote Logistics.

But it didn’t come with a higher debt rating.

S&P issued its report on the back of RXO’s (NYSE: RXO) closing of the deal to acquire Coyote from UPS (NYSE: UPS). The announcement of the closing Sept. 16 came a few...

https://www.freightwaves.com/news/rxo-gets-support-from-sp-after-2-big-stock-sales-to-fund-coyote-acquisition

RXO completes $1.025B acquisition of Coyote Logistics

RXO became the third-largest freight broker in North America on Monday, completing its acquisition of Coyote Logistics from UPS.

The combination gives RXO (NYSE: RXO) a $7 billion top line with multiple growth opportunities. It adds new power lanes and expands density on existing lanes. Coyote has a large presence in the food and beverage vertical and will continue to support UPS (NYSE: UPS) with transportation services through 2030.

The deal brings little customer overlap as RXO has...

https://www.freightwaves.com/news/rxo-completes-1-025b-acquisition-of-coyote-logistics

Truckload carriers: ‘Normal seasonality,’ no market inflection yet

“Normal seasonality” was the best truckload carriers could muster when describing the current freight environment at an investor conference this week. While freight demand is seeing more typical ebbs and flows from month to month, which is an improvement from a year ago, the fluctuations are occurring at a low starting point – the trough of a prolonged freight recession.

“This is seasonality similar to what you would have seen in 2019 where it wasn’t a strong market but you at least saw seasonal...

https://www.freightwaves.com/news/truckload-carriers-normal-seasonality-no-market-inflection-yet

More layoffs at freight-related firms: 607 workers cut across 4 states

Layoffs continue across the commercial transportation and freight industry, according to a new round of worker reduction notices in Florida, Texas, Illinois and Wisconsin.

It is the second round of layoffs since the beginning of July. Averitt Express, Bath & Body Works Logistics Services, ShipBob, and Henry Avocado Corp. announced a total of 218 layoffs earlier in the month.

Menzies Aviation

Menzies Aviation announced July 17 that it will eliminate 409 positions from its facility at Miami...

https://www.freightwaves.com/news/more-layoffs-at-freight-related-firms-across-4-states

With 2 private placements, Jacobs’ QXO has $5 billion to spend

Brad Jacobs’ next venture is ready to start acquiring companies, backed by a war chest of $5 billion.

With two recent private placements completed or soon to be done, QXO now has that amount in hand and no debt to pursue acquisitions in a building products industry that was described late last year as “highly fragmented” and includes some 7,000 distributors in North America and an additional 13,000 in Europe.

Jacobs is chairman and CEO of QXO (NASDAQ: QXO). He also was the founder of the XPO...

https://www.freightwaves.com/news/with-2-private-placements-jacobs-qxo-has-5-billion-to-spend

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