The truck broker posted first-quarter EBITDA of $6 million on $1.4 billion in sales and forecast second-quarter EBITDA of $27 million to $37 million, above Wall Street's $24 million estimate.
Shares still fell 1.8% in premarket trading after Amazon this week launched Supply Chain Solutions, a new service offering distribution, warehousing and last-mile delivery to outside businesses.
RXO, spun out of XPO in 2022, says the logistics market exceeds $400 billion and remains highly competitive, while investors continue watching for a long-awaited end to the freight recession.
RXO's guidance is strong, yet its stock fell. Is Wall Street right to fear Amazon's new logistics empire?
Amazon now directly challenges FedEx and UPS. How will this titan's entry reshape the entire global logistics industry?