RXO, Inc. (RXO) PT Lowered to $26 at Stifel

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Go back to RXO, Inc. (RXO) PT Lowered to $26 at Stifel

RXO Reports Third-Quarter Results with Coyote Integration Ahead of Schedule and Complementary Services Momentum

November 7, 2024 6:00 AM EST

Coyote acquisition completed September 16; integration well underway and progressing smoothly. Raising annualized cost synergy estimate to at least $40 million. Strengthened balance sheet while financing Coyote acquisition; combined company leverage ratio decreased by more than 40% Companywide gross margin of 17.3%; Brokerage gross margin of 13.7% Managed Transportation was awarded more than $300 million in new freight under management Last Mile stop growth continued to accelerate and grew 11% year-over-year

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