RXO

RXO’s Q3 full-quarter earnings reported to SEC; Jefferies gives ‘buy’ rating

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RXO became a publicly traded company Nov. 1 after its spinoff from XPO Logistics, and Wall Street...

RXO makes dedicated freight accessible, desireable for shippers and carriers

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Shippers and carriers interact with the market differently, but one thing has become clear over the past few years: Contracts and dedicated lanes allow both parties to gain stability in an unpredictable landscape. Accessing those contracts and making them work, however, can be difficult. RXO has set out to change that. 

RXO has officially spun off of XPO. The company is laser-focused on deploying technology to scale,...

https://www.freightwaves.com/news/rxo-makes-dedicated-freight-accessible-desireable-for-shippers-and-carriers

Truckload broker RXO ready to take on market alone

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At the beginning of the month the nation’s fourth-largest truckload broker stepped out on its own....

https://www.freightwaves.com/news/truck-broker-rxo-ready-to-take-on-market-alone

Mehrotra and Deutsche, often an XPO skeptic, won’t be following LTL firm anymore

One of the more well-known tense relationships on Wall Street between an analyst and a company is coming to an end.

In an email to clients sent late Tuesday, the transportation research team at Deutsche Bank led by Amit Mehrotra said it was ceasing coverage of XPO Logistics (NYSE: XPO).

“Due to changes in team priorities, we are dropping coverage of XPO Logistics effective immediately,” the email said. “Our previous ratings and price target should no longer be relied upon.” 

There was no further...

https://www.freightwaves.com/news/mehrotra-and-deutsche-often-an-xpo-skeptic-wont-be-following-ltl-firm-anymore

XPO brokerage spinoff RXO gets near-investment-grade debt rating from S&P

RXO, the brokerage division spinoff from XPO Logistics that will become a stand-alone company in two weeks, has its first debt rating. And it’s higher than the company that is about to spin it off.

S&P Global Ratings last week rated RXO BB+. That is one notch above the BB rating held by XPO (NYSE: XPO). However, S&P put XPO on Creditwatch Positive in June, which is often the first step toward a ratings upgrade.

The RXO rating of BB+ is the highest grade among its non-investment-grade ratings....

https://www.freightwaves.com/news/xpo-brokerage-spinoff-rxo-gets-near-investment-grade-debt-rating-from-sp

XPO, RXO financial targets imply no letup through 2027

An XPO truck leaving a facility in Houston

XPO Logistics provided long-term financial targets for its less-than-truckload and brokerage units Monday after the market closed. A spinoff of its brokerage segment, RXO, is planned for Nov. 1. The remaining XPO entity will become a pure-play LTL provider, following the divestiture of a European transportation unit at a later date.

LTL revenue is forecast to record a compound annual growth rate (CAGR) between 6% and 8% through 2027, starting from a 2021 result of $4.1 billion. Adjusted earnings...

https://www.freightwaves.com/news/xpo-rxo-financial-targets-imply-no-letup-through-2027

Los objetivos financieros de XPO y RXO no suponen un descenso hasta 2027 

An XPO truck leaving a facility in Houston

XPO Logistics proporcionó objetivos financieros a largo plazo para sus unidades de carga parcial y de intermediación el lunes después del cierre del mercado. La escisión de su segmento de intermediación, RXO, está prevista para el 1 de noviembre. La entidad restante de XPO se convertirá en un proveedor puro de carga parcial, tras la desinversión de una unidad de transporte europea en una fecha posterior. 

Se prevé que los ingresos de LTL registren una tasa de crecimiento anual compuesta (CAGR)...

https://www.freightwaves.com/news/los-objetivos-financieros-de-xpo-y-rxo-no-suponen-un-descenso-hasta-2027

XPO board approves RXO spinoff, eyes Nov. 1 distribution

XPO truck on road

XPO Logistics announced Monday the planned spinoff of its brokerage unit, RXO, has received board approval. XPO also announced dates for the transaction and introduced a new board of directors.

Upon separation of the companies, current XPO Chairman and CEO Brad Jacobs will be the executive chairman of XPO’s board. Mario Harik, current chief information officer and head of XPO’s less-than-truckload unit, will succeed Jacobs as CEO and will also become a board member. The eight-person board will...

https://www.freightwaves.com/news/xpo-board-approves-rxo-spinoff-eyes-nov-1-distribution

XPO announces board for brokerage spinoff RXO

XPO Logistics trailers

XPO Logistics announced Tuesday a nine-seat board of directors for its brokerage platform, RXO, which it plans to spin off in the fourth quarter. 

As previously announced, XPO’s founder, chairman and CEO Brad Jacobs will be the nonexecutive chairman of RXO.

The inaugural board will be effective once the spinoff transaction closes.

RXO, a tech-enabled freight brokerage, boasts 100,000 independent carriers and 1.5 million trucks on its platform. The unit ranks as the fourth-largest broker of full...

https://www.freightwaves.com/news/xpo-announces-9-person-board-for-brokerage-spinoff

XPO names finance head for brokerage spinoff RXO

XPO trailers at an outdoor storage facility

XPO Logistics announced Wednesday it has named a CFO for its planned brokerage spinoff, RXO. The company said Jamie Harris will join XPO on Sept. 26 as CFO of its North American transportation division, assuming the head finance job at RXO once the separation has been completed.

Harris brings 35 years of B2B experience to the platform, most recently serving as CFO and treasurer of SPX Technologies (NYSE: SPX), a manufacturer and supplier of infrastructure equipment. Harris’ previous roles...

https://www.freightwaves.com/news/xpo-names-finance-head-for-brokerage-spinoff-rxo

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