RXO Posts Wider Loss In Q1

(RTTNews) - RXO (RXO) reported a first quarter GAAP net loss of $36 million, compared to a net loss of $31 million, a year ago. Loss per share was $0.21 compared to a loss of $0.18. Adjusted net loss was $16 million, compared to an adjusted net loss of $5 million, prior year. Adjusted EBITDA was $6 million, compared to $22 million, last year. Adjusted loss per share was $0.09 compared to a loss of $0.03. Revenue was $1.4 billion, flat with a year ago.

RXO expects second-quarter adjusted EBITDA to be between $27 million and $37 million. The company said it is well positioned to deliver strong shareholder returns over the long term.

In pre-market trading on NYSE, RXO shares are up 3.52 percent to $20.30.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.