Latest news with #Wilkerson
Indianapolis Star
11 hours ago
- Sport
- Indianapolis Star
The good, the bad and the future: What Darian DeVries learned about IU in Puerto Rico
SAN JUAN, Puerto Rico — Darian DeVries' Indiana basketball team departed the island Monday a winner in all three games it played here, but not without hardship. Twice, the Hoosiers had to claw back deficits of 20-plus points against Serbian club team Mega Superbet, and twice, they proved capable. DeVries said those games will leave his staff with plenty to chew on, as they shift now from tour-allowed summer practices to preseason planning and preparation. While no one will want to draw dramatic conclusions from the last seven days, the Hoosiers' week in Puerto Rico certainly began sorting out answers to important questions, ahead of DeVries' first season in Bloomington. Here are four things we learned this week, and three that still need resolved. That was the word, 'alphas,' that Lamar Wilkerson used before the Hoosiers left for Puerto Rico. By the time they returned, just who that label applied to was fairly clear. Wilkerson and Tucker DeVries demonstrated both when they played well and when they didn't that they will be the primary engines for this team. Alongside them, Tayton Conerway will be the Hoosiers' chief playmaker, either for himself — as was the case when he scored 18 first-half points in Game 3 — or for others. Monday perhaps illustrated these assessments better than either of IU's first two games. Indiana trailed by 20 points at halftime, in significant part because Wilkerson and DeVries each remained scoreless. Mega afforded them meaningful defensive attention, and IU struggled for other ideas. Conerway's 18 points kept his team afloat, and though he didn't score in the second half, that performance in the first 20 minutes gave Indiana a platform to adjust, get Wilkerson and DeVries involved, and build a comeback in the next 20. Right now, the Hoosiers start with those three, and work forward. There are a few different options here, some tested on the island and some not. Certainly, between them Reed Bailey and Sam Alexis — the two players IU will rotate at the five most often — fit here. Bailey finished 24 points and 20 rebounds across three games, and looked more capable of finding his own offense with his outside-in skillset. Alexis tallied 38 points and 23 boards off the bench, operating as a more traditional big man who fed off post-ups and screen actions, as well as second chances. Both players relied on others (or second chances) to create a lot of their points. As did promising bench players like Jasai Miles and Trent Sisley. Point is, Indiana won with more than just those three at the top of the food chain. But it did not always look prepared to adjust when one or more of them was removed from the game by a defense. The answer to this question could eventually be Nick Dorn or Jason Drake, both of whom missed the tour through injury. But until either proves himself capable, it remains a question mark. Finding new entry points offensively will make Indiana more difficult to defend. Whether it was demonstrated literally — like Conor Enright standing up to the player who shouldered him to the ground despite giving several inches in the confrontation during Game 2 — or by actions and outcomes, IU showed a resilience here this week. Darian DeVries kept returning to that word, resilience, in describing both wins over Mega Superbet. He clearly felt encouraged by the ways his team responded to significant adversity over those two games. 'We learned a lot.' Attacking fear of sharks, deficits, Indiana basketball finds value in Puerto Rico trip Given the tonnage of experience on Indiana's roster, it shouldn't be surprising the Hoosiers showed the capacity to problem solve on the fly and in less-than-ideal circumstances in both games against Mega Superbet. Still, given this roster won't have accomplished virtually anything together, at least not publicly, before this trip, watching his team navigate those difficulties and find success should (and appears to have) encouraged DeVries. It will, as things stand, be this team's biggest weakness defensively. In that way, the actual player-to-player matchup problems Mega posed served IU well. In both games — albeit in different ways — Superbet leveraged clear positional advantages in both size and length. Game 1 saw the Serbian side simply outreach Indiana across the course of a first half that got much worse before it got better. And in Game 2, Mega was more creative, particularly in getting Milwaukee Bucks draft pick Bogoljub Markovic involved and in rhythm. Each in their own way, Alexis, Bailey, Sisley, Tucker DeVries and even Miles helped mitigate the problems posed by that disadvantage. And in defending both Markovic and 6-foot-11 stretch big Lazar Gacic, Indiana also got the experience of managing specific, individual mismatches the Hoosiers might see somewhere else down the road. Still, this will never be either the tallest or the longest roster in the Big Ten. The same matchup issues Indiana saw here it will see again, and the Hoosiers must keep improving in that area. Sisley and Aleksa Ristic leave Puerto Rico at different stages of freshman development, and will probably remain that way for a while. Each offered reasons to believe he can be a long-term pillar for Darian DeVries' program. Sisley continued what has by all accounts been a promising summer from the Santa Claus native. He scored 34 points across three games, including a team-high 21 in the tour-opening win against Universidad de Bayamon, and 10 more in the victory Saturday against Mega. Beyond just his raw output, the way Sisley got his points was encouraging: The 6-8 wing/forward shot 6 of 10 from behind the 3-point line, further reinforcing summer suggestions he can expand his offense beyond the arc in college the way he did in high school. Ristic only joined the Hoosiers in the days leading up to their departure for Puerto Rico, and DeVries admitted Saturday he sometimes had to stop himself mid-play call, remembering Ristic doesn't know all of IU's terminology yet. But Ristic also played three years at a senior level in his native Serbia, and he'll turn 20 next month, old for a true freshman. Like Sisley, Ristic flashed encouraging shooting range in Puerto Rico and, despite his lack of practice time with his new team, he did not look out of his depth when foul trouble forced DeVries to play him for extended stretches of both games against Mega. 'We haven't told him that yet.' New Indiana basketball player Aleksa Ristic learning quickly The pair should soon be joined by Bosnian center Andrej Acimovic, to round out DeVries' first freshman class. But the two young faces he worked into Indiana's rotation in Puerto Rico each left him reasons to be optimistic about their futures from their performances here. As expected, Dorn sat out these three games because of an undisclosed injury, while Drake did not even make the trip because of what DeVries would only describe as a 'lower-body' issue. Dorn could be the kind of multi-level scorer who helps solve that problem of where IU gets offensive impact if others are quiet. He's expected back on the floor some time in the autumn. Drake looks on paper like an important part of the ball-handling rotation, given his usage and assist rates last season at Drexel. It's not clear when he might return. Ristic's age and experience suggest he might be able to handle some of the load running point if Drake's absence is extended. And were Dorn able to crack the starting lineup, it could push a player like Enright to the bench and provide DeVries more lineup balance. Insider: Darian DeVries' offensive shift for IU is obvious and a complete 180 from Mike Woodson's These are problems for fall practice, not a summer tour, but that tour is over now. Thoughts should turn to the preseason, and DeVries will know he needs more depth — scoring depth, defensive depth and, crucially, guard depth — to turn these promising summer months into wins come winter. Indiana enjoyed a good, productive tour of Puerto Rico this week. It could have gone better. It could have gone worse. The Hoosiers got long looks at some of their most fundamental shortcomings, and issues in need of addressing. They also got the invaluable experience, both on and away from the court, of learning how much better they function together, as one unit, than separately. Nothing IU achieved here in Puerto Rico will mean much if it's not built upon. But DeVries will go home with more than just, as he put it, 'some great film and some great data to work with.' He knows now how his new-look roster will react to difficulty and success, how to manage both, and where to build forward from here.
Indianapolis Star
a day ago
- Sport
- Indianapolis Star
'Me being me.' Lamar Wilkerson showed Indiana basketball why he was a high-profile transfer
SAN JUAN, Puerto Rico — Lamar Wilkerson smiled a knowing half-smile Saturday night, as he listened to the last question of his postgame session with assembled media inside Coliseo Roberto Clemente. Wilkerson spoke in the minutes following a remarkable turnaround win from Indiana, which trailed by as many as 23 points in the first half against Serbian club side Mega Superbasket before rallying to win 93-71. The redshirt senior Sam Houston State transfer had played a pivotal role in that comeback, scoring a team-best 18 points. Fully 13 of those had come during the second half that saw the Hoosiers — now 2-0 on this trip — outscore their opponents 58-23. They were Wilkerson's best minutes of the preseason so far. Immersed in the flow of Indiana's high-gear offense, he moved fluidly with and without the ball, and when he stepped into shots or ball fakes leading to scores off the bounce, all his movements looked fixed, smooth and effortless. 'It's just like being,' Wilkerson said, 'in an empty gym. I don't see nobody. 'It's just me being me.' Indiana will need that all winter long. Wilkerson was among the most high-profile new faces added during Darian DeVries' spring roster makeover. He averaged better than 20 points per game last season with the Bearkats, and was widely regarded among the most dangerous shooters in the transfer portal during this cycle. When he signed with Indiana over, among others, Kentucky, it was seen as a major coup for DeVries in his earliest weeks on the job. On the evidence of the Hoosiers' first two preseason games in Puerto Rico, DeVries' hard work bringing Wilkerson to Bloomington was not wasted. 'Lamar,' DeVries said afterward with a smile, 'can shoot as many times as he wants.' That range did not find Wilkerson in IU's first game here, a 51-point blowout of Central Universidad de Bayamon on Wednesday. Wilkerson finished that game 3 of 14, and 3 of 13 from 3, struggling for that familiar rhythm before giving way to teammates with hotter hands. 'We haven't told him that yet.' New Indiana basketball player Aleksa Ristic learning quickly DeVries joked after the Bayamon win that he 'kind of like(d) the fact that (Wilkerson) struggled shooting.' 'Because he doesn't struggle very often,' DeVries explained, 'so this is a good one to get out of the way.' Wilkerson struggled like Indiana did in Saturday's first quarter, trying to get to grips with Mega Superbet's length and physicality. Indeed, he reached halftime — by which point the Hoosiers had at least steadied themselves, trimming a 23-point deficit to 13 — with only five points on three field goal attempts. But as IU's momentum built, so did Wilkerson's confidence. Hand in hand, the Hoosiers' control of Saturday's game extended as their most dangerous scorer found that empty-gym feeling. 'I have ultimate faith in Lamar making shots,' DeVries said postgame Saturday. 'I think you saw a glimpse of why we do in that second half. He can just change a game in two, three possessions. He can go 0 for 4 to 4 for 8, 6 for 10 in a hurry.' Ultimately, Wilkerson finished 7 of 11 from the floor. He made 4 of 7 3s. His 18 points were a team- and a co-game-high. On an evening when multiple Hoosiers ignited the many small runs that eventually added up to a 70-19 turnaround on the scoreboard, Wilkerson showcased to assembled fans — both IU and local — why his teammates and coaches believe he is so dangerous. 'It felt good,' Wilkerson said, 'for all of our pieces to fall (into place) together, all of us stay together and make that run.' In that way, Wilkerson signified something wider about Indiana on Saturday too. The change in offensive emphasis across these two games has not been surprising. Little about DeVries' fast-paced, open-floor offensive philosophy ever bore resemblance to the more methodical, post-driven approach IU took under Mike Woodson. But there's preaching spacing and shooting, and there's actually following through on it. Even when shots aren't falling, like they weren't Wednesday. Or when it's not stopping the bleeding, like it wasn't in the first quarter Saturday. Indiana didn't recruit a roster of shooters on the idea of 3-point shooting, but the act of it. DeVries believes it is central to their identity and their success, no matter the circumstance. 'We have a lot of faith in our shooters,' he said. 'We want them to play with confidence.' Insider: Darian DeVries' offensive shift for IU is obvious and a complete 180 from Mike Woodson's Which made Wilkerson's observation Saturday — that it was beneficial for IU to experience this kind of game — a fair one. 'We'd rather get punched in the mouth right now,' he said, 'than in March.' DeVries might be pleased with the results so far in Puerto Rico. He should certainly be pleased with the method to getting there, and his team's willingness to respond to his coaching and stick to his principles, no matter the weather. And, while the sample size is small, that certainly appears to apply to Wilkerson, a player who might wind up as important as any Hoosier this season.
Business Wire
5 days ago
- Business
- Business Wire
RXO Announces Second-Quarter Results
CHARLOTTE, N.C.--(BUSINESS WIRE)--RXO (NYSE: RXO) today reported its second-quarter financial results. RXO Chairman and CEO Drew Wilkerson said, 'RXO executed well in the second quarter despite the prolonged soft freight market. Our Brokerage business outperformed the market, growing volume by 1% year-over-year driven by 45% growth in less-than-truckload volume. We're seeing early benefits from our newly combined carrier and coverage operations, and we delivered Brokerage gross margin of 14.4% in the quarter. Last Mile continued its impressive run of year-over-year growth, achieving 17% stop growth, the fourth consecutive quarter of double-digit growth. Our cash performance in the quarter was strong, and we increased our cash balance sequentially from the first quarter.' Wilkerson continued, 'The actions we're taking now are yielding results in the short term and positioning us well for the long term. We're focused on growing profitably, and we're realizing the benefits of our increased scale. That scale, combined with our cutting-edge technology, is driving productivity improvements. RXO is uniquely positioned to deliver increased earnings power and free cash flow over the long term and across market cycles.' Companywide Results RXO's revenue was $1.4 billion for the second quarter, compared to $930 million in the second quarter of 2024. Gross margin was 17.8%, compared to 19.0% in the second quarter of 2024. The company reported a second-quarter 2025 GAAP net loss of $9 million, compared to a net loss of $7 million in the second quarter of 2024. The second-quarter 2025 GAAP net loss included $10 million in transaction, integration, restructuring and other costs. Adjusted net income in the quarter was $7 million, compared to adjusted net income of $4 million in the second quarter of 2024. Adjusted EBITDA was $38 million, compared to $28 million in the second quarter of 2024. Adjusted EBITDA margin was 2.7%, compared to 3.0% in the second quarter of 2024. Transaction, integration, restructuring and other costs, and amortization of intangibles, impacted GAAP earnings per share by $0.09, net of tax. For the second quarter, RXO reported a GAAP diluted loss per share of $0.05. Adjusted diluted earnings per share was $0.04. Brokerage Volume in RXO's Brokerage business, including the impact of the Coyote Logistics acquisition in both periods, increased by 1% year over year in the second quarter. Less-than-truckload volume increased by 45% but was partially offset by a 12% decline in full truckload volume. Brokerage gross margin was 14.4% in the second quarter. Complementary Services Managed Transportation again increased the synergy loads provided to Brokerage. Last Mile stops grew by 17% year-over-year. RXO's complementary services gross margin was 22.8% for the quarter. Third-Quarter Outlook RXO expects third-quarter 2025 adjusted EBITDA to be between $33 million and $43 million. In Brokerage, the company expects overall volume growth to be approximately flat year-over-year and gross margin to be between 13.5% and 15.0% in the third quarter. Conference Call The company will hold a conference call and webcast on Thursday, August 7 at 8 a.m. Eastern Daylight Time. Participants can call in toll-free (from U.S./Canada) at 1-800-549-8228; international callers dial +1-289-819-1520. The conference ID is 82712. A live webcast of the conference call will be available on the investor relations area of the company's website, A replay of the conference call will be available through August 13, 2025, by calling toll-free (from U.S./Canada) 1-888-660-6264; international callers dial +1-289-819-1325. Use the passcode 82712#. Additionally, the call will be archived on About RXO RXO (NYSE: RXO) is a leading provider of asset-light transportation solutions. RXO offers tech-enabled truck brokerage services together with complementary solutions including managed transportation and last mile delivery. The company combines massive capacity and cutting-edge technology to move freight efficiently through supply chains across North America. The company is headquartered in Charlotte, N.C. Visit for more information and connect with RXO on Facebook, X, LinkedIn, Instagram and YouTube. Non-GAAP Financial Measures We provide reconciliations of the non-GAAP financial measures contained in this release to the most directly comparable measure under GAAP, which are set forth in the financial tables attached to this release. The non-GAAP financial measures in this release include: adjusted earnings before interest, taxes, depreciation and amortization ('adjusted EBITDA'); adjusted EBITDA margin; and adjusted net income (loss) and adjusted diluted income (loss) per share ('adjusted EPS'). We believe that these adjusted financial measures facilitate analysis of our ongoing business operations because they exclude items that may not reflect, or are unrelated to, RXO's core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. Other companies may calculate these non-GAAP financial measures differently, and therefore our measures may not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should only be used as supplemental measures of our operating performance. Adjusted EBITDA, adjusted EBITDA margin, adjusted net income (loss) and adjusted EPS include adjustments for transaction and integration costs, as well as restructuring costs and other adjustments as set forth in the attached tables. Management uses these non-GAAP financial measures in making financial, operating and planning decisions and evaluating RXO's ongoing performance. We believe that adjusted EBITDA and adjusted EBITDA margin improve comparability from period to period by removing the impact of our capital structure (interest and financing expenses), asset base (depreciation and amortization), tax impacts and other adjustments that management has determined do not reflect our core operating activities and thereby assist investors with assessing trends in our underlying business. We believe that adjusted net income (loss) and adjusted EPS improve the comparability of our operating results from period to period by removing the impact of certain costs that management has determined do not reflect our core operating activities, including amortization of acquisition-related intangible assets, transaction and integration costs, restructuring costs and other adjustments as set out in the attached tables, and thereby may assist investors with comparisons to prior periods and assessing trends in our underlying business. With respect to our financial outlook for the third quarter of 2025 adjusted EBITDA, a reconciliation of this non-GAAP measure to the corresponding GAAP measure is not available without unreasonable effort due to the variability and complexity of the reconciling items described above that we exclude from this non-GAAP measure. The variability of these items may have a significant impact on our future GAAP financial results and, as a result, we are unable to prepare the forward-looking statement of income and statement of cash flows prepared in accordance with GAAP that would be required to produce such a reconciliation. Forward-looking Statements This release includes forward-looking statements, including statements relating to our outlook, integration with Coyote Logistics and cash synergies. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "predict," "should," "will," "expect," "project," "forecast," "goal," "outlook," "target,' or the negative of these terms or other comparable terms. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include the risks discussed in our filings with the SEC and the following: the effect of the completion of the transaction to acquire Coyote Logistics on the parties' business relationships and business generally; competition and pricing pressures; economic conditions generally; fluctuations in fuel prices; increased carrier prices; severe weather, natural disasters, terrorist attacks or similar incidents that cause material disruptions to our operations or the operations of the third-party carriers and independent contractors with which we contract; our dependence on third-party carriers and independent contractors; labor disputes or organizing efforts affecting our workforce and those of our third-party carriers; legal and regulatory challenges to the status of the third-party carriers with which we contract, and their delivery workers, as independent contractors, rather than employees; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; the impact of potential cyber-attacks and information technology or data security breaches; issues related to our intellectual property rights; our ability to access the capital markets and generate sufficient cash flow to satisfy our debt obligations; litigation that may adversely affect our business or reputation; increasingly stringent laws protecting the environment, including transitional risks relating to climate change, that impact our third-party carriers; governmental regulation and political conditions; our ability to attract and retain qualified personnel; our ability to successfully implement our cost and revenue initiatives and other strategies; our ability to successfully manage our growth; our reliance on certain large customers for a significant portion of our revenue; damage to our reputation through unfavorable publicity; our failure to meet performance levels required by our contracts with our customers; the inability to achieve the level of revenue growth, cash generation, cost savings, improvement in profitability and margins, fiscal discipline, or strengthening of competitiveness and operations anticipated or targeted; a determination by the IRS that the distribution or certain related separation transactions should be treated as taxable transactions; and the impact of the separation on our businesses, operations and results. All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements to reflect subsequent events or circumstances, changes in expectations or the occurrence of unanticipated events, except to the extent required by law. RXO, Inc. Condensed Consolidated Balance Sheets (Unaudited) June 30, (Dollars in millions, shares in thousands, except per share amounts) 2025 2024 ASSETS Current assets Cash and cash equivalents $ 18 $ 35 Accounts receivable, net of $16 and $13 in allowances, respectively 1,065 1,227 Other current assets 101 77 Total current assets 1,184 1,339 Long-term assets Property and equipment, net of $351 and $317 in accumulated depreciation, respectively 137 135 Operating lease assets 250 276 Goodwill 1,125 1,123 Identifiable intangible assets, net of $144 and $146 in accumulated amortization, respectively 474 499 Other long-term assets 31 42 Total long-term assets 2,017 2,075 Total assets $ 3,201 $ 3,414 LIABILITIES AND EQUITY Current liabilities Accounts payable $ 461 $ 568 Accrued expenses 315 373 Short-term debt and current maturities of long-term debt 16 17 Short-term operating lease liabilities 75 81 Other current liabilities 13 26 Total current liabilities 880 1,065 Long-term liabilities Long-term debt and obligations under finance leases 387 351 Deferred tax liabilities 75 88 Long-term operating lease liabilities 201 215 Other long-term liabilities 70 83 Total long-term liabilities 733 737 Commitments and Contingencies Equity Preferred stock, $0.01 par value; 10,000 shares authorized; 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024 — — Common stock, $0.01 par value; 300,000 shares authorized; 163,970 and 162,517 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 2 2 Additional paid-in capital 1,915 1,904 Accumulated deficit (324 ) (284 ) Accumulated other comprehensive loss (5 ) (10 ) Total equity 1,588 1,612 Total liabilities and equity $ 3,201 $ 3,414 Expand RXO, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 30, (In millions) 2025 2024 Operating activities Net loss $ (40 ) $ (22 ) Adjustments to reconcile net loss to net cash from operating activities Depreciation and amortization expense 62 33 Stock compensation expense 14 11 Deferred tax benefit (13 ) (9 ) Impairment of operating lease assets 4 — Other 6 2 Changes in assets and liabilities Accounts receivable 159 13 Other current assets and other long-term assets (7 ) 1 Accounts payable (93 ) (27 ) Accrued expenses, other current liabilities and other long-term liabilities (71 ) — Net cash provided by operating activities 21 2 Investing activities Payment for purchases of property and equipment (29 ) (22 ) Proceeds from sale of property and equipment 1 — Business acquisition, net of cash acquired (10 ) — Other (5 ) — Net cash used in investing activities (43 ) (22 ) Financing activities Proceeds from borrowings on revolving credit facilities 261 119 Repayment of borrowings on revolving credit facilities (227 ) (92 ) Payment for equity issuance costs (1 ) — Payment for tax withholdings related to vesting of stock compensation awards (18 ) (3 ) Repayment of debt and finance leases (1 ) (1 ) Other (10 ) (1 ) Net cash provided by financing activities 4 22 Effect of exchange rates on cash, cash equivalents and restricted cash 2 — Net increase (decrease) in cash, cash equivalents and restricted cash (16 ) 2 Cash, cash equivalents, and restricted cash, beginning of period 35 5 Cash, cash equivalents, and restricted cash, end of period $ 19 $ 7 Supplemental disclosure of cash flow information: Leased assets obtained in exchange for new operating lease liabilities $ 22 $ 49 Cash paid for income taxes, net 4 2 Cash paid for interest, net 16 15 Purchases of property and equipment in accounts payable, accrued expenses and other liabilities 10 1 Accrued tax withholdings related to vesting of stock compensation awards — 1 Expand RXO, Inc. Revenue Disaggregated by Service Offering (Unaudited) Revenue Truck brokerage $ 1,025 $ 543 $ 2,092 $ 1,107 Last mile 315 265 593 497 Managed transportation 142 156 279 308 Eliminations (63 ) (34 ) (112 ) (69 ) Total $ 1,419 $ 930 $ 2,852 $ 1,843 Expand (1) See the 'Non-GAAP Financial Measures' section of the press release. (2) Adjusted EBITDA margin is calculated as Adjusted EBITDA divided by Revenue. Expand RXO, Inc. Reconciliation of Net Loss to Adjusted Net Income (Loss) and Adjusted Diluted Income (Loss) Per Share (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions, shares in thousands, except per share amounts) 2025 2024 2025 2024 Reconciliation of Net Loss to Adjusted Net Income (Loss) and Adjusted Diluted Income (Loss) Per Share Net loss $ (9 ) $ (7 ) $ (40 ) $ (22 ) Amortization of intangible assets 11 3 26 6 Transaction and integration costs 7 7 13 8 Restructuring and other costs 3 4 17 15 Income tax associated with adjustments above (1) (5 ) (3 ) (14 ) (7 ) Adjusted net income (loss) (2) $ 7 $ 4 $ 2 $ — Weighted-average shares outstanding Diluted 169,077 119,837 169,143 117,398 Expand (1) The tax impact of non-GAAP adjustments represents the tax benefit (expense) calculated using the applicable statutory tax rate that would have been incurred had these adjustments been excluded from net loss. Our estimated tax rate on non-GAAP adjustments may differ from our GAAP tax rate due to differences in the methodologies applied. (2) See the 'Non-GAAP Financial Measures' section of the press release. Expand RXO, Inc. Calculation of Gross Margin and Gross Margin as a Percentage of Revenue (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (Dollars in millions) 2025 2024 2025 2024 Revenue Truck brokerage $ 1,025 $ 543 $ 2,092 $ 1,107 Complementary services (1) 457 421 872 805 Eliminations (63 ) (34 ) (112 ) (69 ) Revenue $ 1,419 $ 930 $ 2,852 $ 1,843 Cost of transportation and services (exclusive of depreciation and amortization) Truck brokerage $ 877 $ 462 $ 1,801 $ 946 Complementary services (1) 304 272 582 522 Eliminations (63 ) (34 ) (112 ) (69 ) Cost of transportation and services (exclusive of depreciation and amortization) $ 1,118 $ 700 $ 2,271 $ 1,399 Direct operating expense (exclusive of depreciation and amortization) Truck brokerage $ — $ — $ 1 $ — Complementary services (1) 47 50 94 103 Direct operating expense (exclusive of depreciation and amortization) $ 47 $ 50 $ 95 $ 103 Direct depreciation and amortization expense Truck brokerage $ — $ 1 $ — $ 1 Complementary services (1) 2 2 5 4 Direct depreciation and amortization expense $ 2 $ 3 $ 5 $ 5 Gross margin Truck brokerage $ 148 $ 80 $ 290 $ 160 Complementary services (1) 104 97 191 176 Gross margin $ 252 $ 177 $ 481 $ 336 Gross margin as a percentage of revenue Truck brokerage 14.4 % 14.7 % 13.9 % 14.5 % Complementary services (1) 22.8 % 23.0 % 21.9 % 21.9 % Gross margin as a percentage of revenue 17.8 % 19.0 % 16.9 % 18.2 % Expand (1) Complementary services include last mile and managed transportation services. 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Yahoo
11-06-2025
- Business
- Yahoo
RXO Q1 Earnings Call: Technology Integration and Synergy Progress Underpin Outlook Amid Freight Weakness
Freight Delivery Company RXO (NYSE:RXO) fell short of the market's revenue expectations in Q1 CY2025, but sales rose 57% year on year to $1.43 billion. Its non-GAAP loss of $0.03 per share was $0.01 below analysts' consensus estimates. Is now the time to buy RXO? Find out in our full research report (it's free). Revenue: $1.43 billion vs analyst estimates of $1.48 billion (57% year-on-year growth, 3.5% miss) Adjusted EPS: -$0.03 vs analyst estimates of -$0.02 ($0.01 miss) Adjusted EBITDA: $22 million vs analyst estimates of $22.7 million (1.5% margin, 3.1% miss) EBITDA guidance for Q2 CY2025 is $35 million at the midpoint, above analyst estimates of $34.37 million Operating Margin: -2.1%, in line with the same quarter last year Sales Volumes fell 1% year on year (11% in the same quarter last year) Market Capitalization: $2.7 billion RXO's first quarter results reflected significant progress in business integration and technology upgrades, even as external market conditions remained soft. Management attributed performance largely to the successful integration of the Coyote acquisition, which enabled carrier and coverage operations to consolidate onto a single technology platform. CEO Drew Wilkerson highlighted a 26% year-over-year increase in less-than-truckload (LTL) brokerage volumes, offset by continued softness in full truckload and automotive-related shipments. The company also reported notable productivity gains, with technology-driven improvements raising efficiency by 17% over the past year. Wilkerson described the quarter as one where 'productivity over the last 12 months increased by about 17%,' and pointed to the company's asset-light model as a key factor in managing through volatility. Looking ahead, RXO's forward guidance is shaped by ongoing integration benefits, operational flexibility, and a cautious approach to market uncertainty. Management emphasized the potential for additional cost savings as technology and procurement systems from the Coyote acquisition are fully leveraged. CFO Jamie Harris noted, 'We have significant opportunity to purchase transportation more effectively,' which could translate to meaningful margin improvements as the year progresses. While the company expects continued growth in LTL and last-mile services, executives cautioned that truckload volumes remain under pressure due to macroeconomic uncertainty and shifting customer strategies in response to trade policy changes. Management believes enhanced technology and scale position RXO for margin expansion once market conditions stabilize. Management pointed to integration synergies, LTL volume growth, and technology-driven productivity as primary factors shaping first quarter outcomes, while highlighting automotive headwinds and ongoing market softness as key challenges. Coyote integration milestone: The successful migration of both RXO and Coyote carrier and coverage operations onto one transportation management system (Freight Optimizer) allowed for better freight matching and improved scalability. Management emphasized the early realization of cross-company operational efficiencies. Raised synergy expectations: After reviewing integration progress, RXO increased its estimate for annualized cash synergies from the Coyote acquisition to more than $70 million, driven by operating expense reductions and capital expenditure savings. CFO Jamie Harris explained that these estimates exclude further potential benefits from optimizing transportation procurement and cross-selling opportunities. LTL volume strength: Less-than-truckload (LTL) brokerage volumes grew 26% year-over-year, in stark contrast to ongoing softness in the broader truckload market. Management attributed this outperformance to new customer wins and the company's ability to offer integrated solutions for complex freight needs. Last-mile segment momentum: The last-mile delivery business saw a 24% increase in stops, benefiting from existing customer growth, new customer acquisitions, and expanded service in new markets. Management described last-mile as a 'stable and growing source of EBITDA.' Automotive sector headwinds: Weakness in automotive volumes, particularly in managed transportation and expedited shipments, weighed on both revenue and gross profit. Harris quantified the impact as a $10 million year-over-year gross profit headwind, noting the higher margin typically associated with automotive-related freight. RXO's near-term outlook is shaped by integration-driven cost efficiencies, LTL and last-mile growth, and ongoing caution about freight market demand. Procurement and synergy realization: Management expects further margin improvement as unified procurement and technology systems enable more effective purchase transportation. Early wins in cost reductions are expected to ramp up as contract rate increases phase in through the year. Continued LTL and last-mile expansion: Ongoing growth in less-than-truckload brokerage and last-mile delivery is expected to help offset softness in full truckload volumes. Management highlighted cross-selling opportunities and new customer wins as drivers of segment resilience. Freight demand uncertainty: Executives remain cautious about overall freight market demand due to macroeconomic headwinds, customer responses to tariff changes, and persistent automotive sector weakness. The company's guidance incorporates a range of scenarios, with flexibility to further reduce costs if volumes deteriorate. In coming quarters, the StockStory team will monitor (1) the pace and scale of realized cost synergies from the Coyote integration, (2) ongoing growth in LTL and last-mile delivery volumes, and (3) RXO's ability to manage through continued softness in full truckload and automotive-related freight. Sustained productivity gains from technology investments and the impact of shifting trade policies will also be key signposts for future performance. RXO currently trades at a forward P/E ratio of 58.5×. At this valuation, is it a buy or sell post earnings? The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
Yahoo
26-05-2025
- Entertainment
- Yahoo
Paris silver medallists Humana-Paredes, Wilkerson set sights on Hollywood ending at next Olympics
The scene was straight out of a sports movie. It was the women's beach volleyball final at the 2024 Paris Olympics, played under the lights beneath the shadow of the Eiffel Tower in mid-August. On one side stood Brazil's Ana Patricia Ramos and Eduarda Santos (Duda) Lisboa, a top team from a powerhouse country. Across from them lingered Canada's Melissa Humana-Paredes and Brandie Wilkerson. The Toronto-born duo was not expected to find itself in that moment — a mere 18 tournaments over two years together had shown itself with a 1-2 record in group play. But Humana-Paredes and Wilkerson rallied to win a lucky loser match, rolled through the first two rounds of the knockout stage, then won a three-setter in the semis to buck the odds and reach the final. Still, the Canadians entered as underdogs. Then, fireworks: a closely contested first set ended with a 26-24 Brazilian win, but the Canadians returned fire with a dominant 21-12 second-set victory. Along the way, Wilkerson and Ramos jawed like NHLers in a playoff scrum, prompting the in-game DJ to cheekily play John Lennon's Imagine. After a narrow third set, Ramos and Duda emerged with the Olympic title, ruining the Canadians' Hollywood ending. WATCH | Canada takes silver in women's beach volleyball after loss to Brazil: Speaking eight months later, Humana-Paredes and Wilkerson were both still grappling with the duality of claiming Canada's first-ever women's medal in the sport while ending their tournament with a loss. "It was so much that led up to that point, not even just the two weeks at the Olympics," Humana-Paredes said. "When you're so close to being at the top and fighting for what you have been working for for so long and you fall short and like just short, that definitely hurts. "It's a huge sting. And I think it takes time for sure for that to just kind of sting less and less, but there's still so much to be proud of." Now set up for training in California, the Canadians' movie isn't over – they plan to continue working together, with the goal of gold and a literal Hollywood finish at the 2028 Olympics in Los Angeles. Humana-Paredes and Wilkerson will compete at their second stop of the Elite16 Beach Pro Tour season beginning Wednesday in Ostrava, Czech Republic. Live coverage of the tournament will be available on and CBC Gem. Their season debut in April was a bit of a reversal of their Olympic journey – the Canadians went undefeated in group play but fell in the quarterfinals, denying them a semifinal rematch against Ramos and Duda. Their next major tournament is the world championship in November in Adelaide, Australia. "Solidifying our spot as a world-class team on the World Tour is the new challenge that we're looking forward to," Wilkerson said. "We've always known we could do it. We've proven that we're the best in the world. So now to be able to do it over and over again is going to be the hardest challenge I think any athlete in any sport does, and it really differentiates the legendary ones from those that are extremely talented." Humana-Paredes and Wilkerson barely had time to process in the aftermath of their silver medal, with the regular season resuming just two weeks after that dramatic final and continuing through the fall. Humana-Paredes said their first downtime came around Christmas, but the duo took a longer-than-usual off-season to regroup. Now, they return to competition as Olympic silver medallists and with new targets painted on their backs. But in their view, the buildup to Los Angeles began two years ago – Paris was just a bonus. "We kind of have our foundation, but now it's like, OK, now we can get creative. Now we can push boundaries. I think we know we had moments where we could do that in the lead-up to Paris, but not as much as I feel like we have now," Humana-Paredes said. For Humana-Paredes, the silver medal could have been a culmination. Alongside former partner Sarah Pavan, she'd won the world title in 2019 and entered the Tokyo Olympic two years later among the favourites – only to lose in the quarterfinals. Finally reaching the Olympic podium three years later – albeit with a new teammate – could have felt like the end of a journey. Instead, it's only made her hungrier. "I look back at some of those games, I'm like, 'Oh, we can do that so much better.' And so I think there's a level of, we're not settling on that result. We keep moving forward. I think for better or for worse, you just keep moving and you keep going in the direction you want to go and you do it together," she said. Plus, while the silver was satisfying, it still did come with the bitter tinge of losing gold. "You can have both feelings. Like you can be disappointed and be super proud at the same time. And I think that's what was really eye-opening for me being like, 'Yeah, I'm all those things and more,'" Humana-Paredes said. Wilkerson is taking a similar approach. "I never want to become accustomed to not meeting my goals. That's not a good feeling. But outside of that, it's still something I'm processing and choosing to lean on how amazing of an opportunity it [was], choosing to be grateful and just be so proud," Wilkerson said. She said the attitude now goes something like this: they won Olympic silver just 18 tournaments into their time together – just think about what that could look like by 2028. "We're trying to use it to our advantage," Wilkerson said. More than anything, though, the vibes are immaculate between Humana-Paredes and Wilkerson. And that fact alone gives them confidence that, come 2028, they can take that final step. "I genuinely feel that Mel wants the best for me and I want the best for her and I think that's what's going to keep us strong throughout all of the challenges that are absolutely going to come," Wilkerson said. "We're getting to know each other more and more and she's the person I spend the most time with in my entire life. I think we find ways to enjoy that — and genuinely."
