RXO Adds 8% In Morning Trade As Earnings Beat The Street View

Shares of full truckload freight transportation brokering services provider RXO Inc. (RXO) are rising more than 8% Wednesday morning after it reported first-quarter results, above the consensus estimates.

The company reported breakeven earnings in the first quarter, compared with net income of $39 million or $0.34 per share in the same quarter a year ago.

Excluding one-time items, profit was $13 million, or $0.11 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.07 per share.

The company’s revenue was $1.01 billion for the first quarter, compared to $1.31 billion last year. The consensus estimate was for $1.07 billion.

RXO is at $19.97 currently. It has traded in the range of $14.75-$25.50 in the last 52 weeks.

Source: Read Full Article