RXO (RXO) Misses Q4 EPS by 2c
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RXO Delivers Strong Fourth Quarter Driven by Brokerage Volume Growth
February 7, 2023 4:15 PM ESTCompanywide gross margin was 19.6 percent, up 250 basis points year-over-year; brokerage profitability remained strong with 17.9 percent gross margin in the fourth quarter, up 290 basis points year-over-year Brokerage volume increased by 4% year-over-year and set a company record for loads per day Downloads of RXO Drive app increased 45% year-over-year, and 87% of loads in the quarter were created or covered digitally Company expects continued year-over-year brokerage volume growth in the first quarter of 2023, driven by strong sales... More
