RXO Q3 revenue $1.04B; GAAP net loss $243M on Coyote costs; raises synergy to at least $40M

RXO, Inc.

2024-Q3 EPS reported -$2.15 revenue$2,883,000,000

Revenue $1.04B vs $976M; GAAP net loss $243M includes $248M in Coyote transaction costs; adjusted net income $7M.
Coyote integration ahead of schedule; cost synergy estimate raised to at least $40M; leverage ratio down >40% to 1.6x.
Brokerage gross margin 13.7%; legacy volume -5% (LTL +13%, FTL -9%); contract FTL up >30% since Q3 2021.
Managed Transportation new bookings >$300M; Last Mile stops +11% YoY; Q4 EBITDA guidance $40M-$45M.

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