RXO, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 06:30 am EDT
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RXO, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 963 million compared to USD 1,226 million a year ago. Net income was USD 3 million compared to USD 44 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to USD 0.38 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to USD 0.38 a year ago.
For the six months, sales was USD 1,973 million compared to USD 2,538 million a year ago. Net income was USD 3 million compared to USD 83 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to USD 0.72 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to USD 0.72 a year ago.
RXO, Inc. is a provider of asset-light transportation solutions. The Company offers tech-enabled truck brokerage services together with complementary solutions, including managed transportation, freight forwarding and last-mile delivery. It combines capacity and technology to move freight through supply chains across North America. Its self-learning RXO Connect digital brokerage platform encompasses Freight Optimizer, as well as its mobile app, application programming interface (API) integrations, self-service dashboards and real-time functionality for transacting and tracking freight shipments. Its managed transportation service provides asset-light solutions for shippers who outsource their freight transportation. Its control tower solution leverages the expertise of a dedicated team focused on continuous improvement, and digital, door-to-door visibility into order status and freight in transit. Its last mile offering is an asset-light service that facilitates consumer deliveries.
RXO, INC. 
