RXO Q1 Adj $(0.03) Beats $(0.04) Estimate, Sales $913.00M Miss $929.48M Estimate
Portfolio Pulse from Benzinga Newsdesk
RXO reported Q1 adjusted losses of $(0.03) per share, beating the $(0.04) estimate, but its sales of $913M missed the $929.48M estimate, marking a 9.60% decrease from last year.
May 02, 2024 | 10:35 am
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RXO's Q1 earnings beat estimates with a smaller loss than expected, but revenue fell short of forecasts and decreased compared to last year.
While RXO's better-than-expected loss per share might be seen positively, the miss on revenue forecasts and the year-over-year decline in sales could temper investor enthusiasm. The mixed results present a neutral short-term outlook as investors weigh the earnings beat against the sales miss.
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