S&P gave a thumbs-up to the credit metrics at RXO after the company set two deals to fund the Coyote Logistics acquisition.
RXO announced Monday that it has completed the acquisition of freight broker Coyote Logistics.
Executives at some of the nation’s top truckload carriers say it’s still too soon to know when the market will turn.
Companies across the freight industry have announced another wave of layoffs, with over 600 workers in four states losing their jobs.
Brad Jacobs’ QXO is ready to begin acquisitions with a war chest of $5 billion in hand after two big deals.
In this edition: Coyote finds another home, and another firm closes its doors.
RXO shares are soaring Monday on news of its acquisition of Coyote Logistics from UPS.
C.H. Robinson has had its debt rating downgraded by S&P Global.
RXO looked to various metrics to push a message that things are getting better at the 3PL.
More than 1,300 layoffs hit freight-related companies in Texas, Florida, Illinois, Michigan and Georgia over the past two weeks.
Moody’s held its investment-grade debt rating of RXO, but its outlook was shifted to negative.
RXO’s fourth quarter was slightly better than the third, but overall, the 3PL had its challenges last year.
On Wednesday, FreightWaves hosted the Domestic Supply Chain Summit, a virtual event with RXO Chief Strategy Officer Jared Weisfeld as the keynote speaker. The interview, conducted by enterprise trucking carrier expert Thomas Wasson, included an outlook for 2024 and highlighted the biggest supply chain challenges and opportunities.
Pace of carrier exits needs to speed up to achieve economic balance in the truckload sector, according to RXO Chief Strategy Officer Jared Weisfeld.
XPO founder Brad Jacobs is acquiring SilverSun Technologies as a platform to make acquisitions in a yet-to-be-announced industry.
Truck brokerage RXO beat third-quarter estimates Tuesday and said it will continue to expand its platform and take market share on the downside of the cycle.
Brad Jacobs, who founded XPO and its spinoffs, didn’t provide any details on what his next venture is going to focus on.
C.H. Robinson CEO Dave Bozeman focused on process and costs when meeting with analysts at the TD Cowen conference Thursday.
RXO was flat between the first and second quarters, and that proved to be a turnoff for investors in the 3PL.
TriumphPay dealt with the same weak conditions as other trucking-focused companies in the second quarter, but one key measure was stronger.
Odyssey Logistics got an increase in its outlook from Moody’s, a change from earlier ratings agency actions on 3PLs.
3PL RXO has had its outlook dropped to stable by S&P, but its debt rating held steady.
Broker RXO said it was continuing to execute on longer-term goals even as the freight market awaits the next catalyst.
Sticking to earlier forecasts, RXO’s chief strategy officer sees the 3PL’s market share growing and increased volume year on year.
Quarterly earnings at stand-alone brokerage RXO were healthy compared to the performance of most companies in the freight sector.
The final panel at the TIA annual meeting echoed a theme of the whole meeting: Double brokering and fraud are surging.
This week in Borderlands: RXO invests $30 million and expands its logistics operations in South Texas; the Mexican state of Nuevo Leon is investing $22 million to expand a border bridge; Packwell is set to build a resin logistics center at Port Houston; and RK Logistics Group opens a Texas distribution center.
XPO, on its way to becoming a pure-play LTL carrier, received an upgrade in its debt rating from S&P Global Ratings.
Andrew Clarke, the ex-C.H. Robinson Worldwide executive, would relish the opportunity to return as its CEO, according to sources.
RXO, spun off Nov. 1, released its third-quarter earnings to the SEC for its first stand-alone numbers.
Shippers and carriers interact with the market differently, but one thing has become clear over the past few years: Contracts and dedicated lanes allow both parties to gain stability in an unpredictable landscape.
Management from one of the nation’s largest truck brokerages is ready to take on the industry alone.
In a stunning announcement, an analyst and his company that could be seen as skeptical of XPO’s prospects won’t be tracking the company moving forward.
XPO announced Tuesday that it has spun off brokerage unit RXO, which is now a separately traded company.
XPO Logistics’ third-quarter results were at the high end of preannounced ranges. The fourth-quarter outlook calls for continued growth but with some cost pressures.
RXO, the stand-alone brokerage company about to be spun off by XPO, has received a near-investment-grade rating from S&P.
XPO Logistics issued long-term financial targets for its less-than-truckload segment and its brokerage unit, which will be spun off next month.
XPO Logistics announced the spinoff of its brokerage unit has been blessed by its board with share distribution scheduled for Nov 1.
XPO Logistics announces board members for RXO, its brokerage unit that will be spun off in the fourth quarter.
XPO Logistics announced that Jamie Harris will become the CFO of freight broker RXO following a planned separation in the fourth quarter.
Mario Harik will succeed Brad Jacobs following the spinoff of XPO’s brokerage business. Jacobs will become XPO’s executive chairman.
