Reported about 11 hours ago
RXO's third quarter earnings report led to a sharp decline in its stock price, plummeting more than 14.8% in pre-market trading after revealing a drop in adjusted net income to $2 million from $7 million year-on-year. The company missed Wall Street estimates on earnings per share and total revenue, with ongoing losses raising concerns about its future performance. In contrast, RXO's competitor, C.H. Robinson, showed strong growth metrics, further highlighting RXO's challenges amidst a backdrop of rising costs and softening demand in the brokerage sector.
Source: YAHOO