RXO reports Q1 2024 net loss of $15M, revenue down to $0.9B, brokerage volume up 11% YoY

RXO, Inc.

2024-Q1 EPS reported -$0.13 revenue$913,000,000

GAAP net loss $15M (diluted loss per share $0.13) vs net income $0 in Q1 2023.
Revenue $0.9B vs $1.0B YoY; adjusted EBITDA $15M vs $37M.
Brokerage volume +11% YoY (truckload +8%, LTL +29%); gross margin 14.2%.
Q2 2024 outlook: adjusted EBITDA $24M-$30M, brokerage gross margin 13%-15%.
Companywide gross margin 17.4% vs 18.7% YoY; complementary services margin 20.6%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RXO, Inc. reported the first quarter of 2024 results: net income GAAP net loss of $15 million, EPS GAAP diluted loss per share of $0.13. Guidance initiated.

Period: the first quarter of 2024
Net income: GAAP net loss of $15 million
EPS: GAAP diluted loss per share of $0.13
Guidance: initiated
Result: reported results

Exact text from the filing

The company reported a first-quarter 2024 GAAP net loss of $15 million, compared to $0 of net income in the first quarter of 2023. The first-quarter 2024 GAAP net loss included $12 million in transaction, integration and restructuring costs. The adjusted net loss in the quarter was $4 million, compared to adjusted net income of $13 million in the first quarter of 2023. Adjusted EBITDA was $15 million, compared to $37 million in the first quarter of 2023. Adjusted EBITDA margin was 1.6%, compared to 3.7% in the first quarter of 2023. Transaction, integration and restructuring costs, and amortization of intangibles, impacted GAAP earnings per share by $0.10, net of tax. For the first quarter, RXO reported a GAAP diluted loss per share of $0.13.

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Source: SEC EDGAR

accession 0001929561-24-000075

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