RXO rallies, hits 2023 record, up 28% year-to-date

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RXO is one of the best stock market performers today, up 7.3% to $21.7 mid-way through the trading session.

(2023 high today: $21.93. Previous all-time high: $25.5, 31 October 2022.)

The company reported its Q4/annual update yesterday –> snapshot: soft on revenues, but better than earnings estimates for the last quarter of the year.

Net reported earnings were significantly lower for 2022 ($92m; click here, page 14), mostly due to transaction and integration costs at $84m. Adjusted earnings of $181m for the year ...