First look: RXO recorded operating and net losses in the first quarter

RXO touted the integration of Coyote Logistics in its first quarter earnings release, with higher synergies now predicted and integration moving forward.
But the finances at the 3PL were not good. RXO posted an operating loss of $30 million, compared to a $12 million operating loss in the corresponding quarter a year ago and $24 million operating loss in the fourth quarter of 2024.
Revenue comparisons year-on-year are not on an equal basis due to the Coyote acquisition, which closed in September. Revenue at RXO was $1.43 billion compared to $913 billion a year ago. But sequentially, when Coyote in the fourth quarter was part of RXO, revenue was down from $1.67 billion.
EBITDA increased from a year ago–again, no Coyote in the first quarter of 2024–but was down from the fourth quarter. EBITDA in the first quarter was $22 million, and was $42 million in the final quarter of 2024.
Net income was an 18 cents per share loss for the quarter, deteriorating from minus 13 cents a year ago and minus 12 cents sequentially.
In the prepared statement announcing the company's financial performance, CEO Drew Wilkerson said the company had reached a milestone in the Coyote integration: technology is all on one system.
The estimate on cash savings from the synergies generated by the Coyote acquisition is now up to $70 million. In the fourth quarter earnings report, the savings were forecast as $50 million.
The company's conference call is at 8 a.m. Eastern Wednesday.
The post First look: RXO recorded operating and net losses in the first quarter appeared first on FreightWaves.

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a day ago

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33 Industry Secrets People Need To Know

Reddit user u/Eastern-Violinist-46 posed the question, "What's a dirty, little secret that you know only because you work in the industry?" People from a variety of industries came forward to share some behind-the-scenes info, and their anecdotes were super informative. Here's what people shared: "I own a sign shop, and I can tell you with 100% certainty that almost all businesses fail within the first year. If you think you are going to open a restaurant or a boutique, you are about to lose a bunch of money. Also, no matter what business you want to start, go talk to your local sign guy and ask how many businesses have been in that location and failed. Trust me, we know which locations are cursed." "I used to work for a major talent agency in Hollywood, and a lot of the Academy voters never watched the screeners and let their assistants vote on their behalf." "I'm in insurance. If you call to request an estimate for a claim, they will count it as a $0 claim on your file when they deem the damage not enough to repair. That means when another company pulls your information, it will not only impact your future rates, but might make you ineligible for future policies. Don't ever call insurance for an estimate first. Get a third party inspector to tell you whether you should file with insurance." "Always wash your new clothing before you wear it, even if it looks fresh and new. It's been thrown on the floor, moved around a dusty warehouse, tried on by a sweaty post-gym person, and probably sat in a stinky, humid shipping container for two months. Plus, you want to wash off all the starching/finishing products which make it look so 'new.'" "People cleaning their underwear in kettles is a huge problem in hotels. We find so many forgotten underpants in the kettles, and I can't even assume how many we didn't catch. Don't use them. If you want a nicer room in a hotel, book with Dr. or Prof. before your name. That makes you way more likely to be bumped up. When you're traveling privately, take a card from any hotel testing company with you and give it to the reception when you arrive to enter as the 'address for your bill.' Staff will be extra nice to you." "Engagement ring business here! Oh, so many. Most natural diamonds have been in, like, two or three rings before they end up in yours. Rings are made with more fragile designs than they used to be, because after you get tired of it breaking/needing repairs all the time, you will buy a new ring, thus giving us more $$$. This is also why the trends nowadays lean toward dainty and minimalistic with a massive stone, because it's a ticking time bomb. This is also why a lot of jewelry stores won't stop you from getting stones that are too soft for daily wear (looking at you, opal). The largest diamond distributor is Walmart. Diamonds that jewelry suppliers discard for being 'ugly' end up on James Allen and Brilliant Earth." "Leaving online shopping items in your cart while logged in will likely put you into an automated discount offer stream! So, if you intend to buy anyway, leave it in your cart for a few days and see if you get a marketing email with a discount code." "How dirty the fruits you put in drinks are. I quit getting oranges in my Blue Moons because I figured that orange drove up from Florida, got to North Dakota, was never washed, got cut up, and was put in my drink. Grosses me out." "There isn't a 'larger than normal call volume.' We just don't have enough staff. Also, your call is not important to us. We actually want you to go away." "I used to work in radio, and we totally didn't take caller number 10. We maybe counted one through six, and then sorted through the callers until we found an excited sounding voice that fit the target demographic." "Before I would go on stage as a male dancer, we would inject our penises with solution and/or take Viagra because we were supposed to be, at minimum, half hard all night. We were not allowed to be fully flaccid unless we were dressed. Same goes in amateur porn. Because of this, it's very hard to feel pleasure and finish from basic sex, and it takes a lot to get it up for women, even if you want to." "Casino boss here. If a shooting or death happens at a casino (all the time), it's almost never reported or shown in the news because local newspapers work together with casinos to avoid hurting the tourism in their city. You'll only hear whispers about it from coworkers, and that's it." Blurred Image of Gaming machines in a Casino. "Military-grade is a misnomer for high quality. While companies may sell high quality goods, deeming it military-grade would actually mean it's the cheapest, crappiest material that saves money right now and doesn't worry about 5–10 years from now because a new budget will be passed and the government will continue to be terrible with money." "I worked in grocery stores for about 40 years. Notice how most ice cream brands have lids that aren't sealed? When you're working stock, whenever a container falls on the floor, sometimes the lids fly off. Most workers just put the lids back on and put it on the shelf. It happens all the time. Always, always buy the handful of brands that actually seal the lids on, or you're just asking to get sick." "Maybe not a 'dirty' secret, but I work in the VFX industry and was shocked when I first learned how much 'beauty' work is done on actresses. All those famous middle-aged (and older) women that have aged so well? Yeah, we've gone in and removed their wrinkles, crow's feet, saggy neck, etc. Removing acne and acne scars from young performers was also a common occurrence. No wonder women and girls struggle so much with body image." "Your loved one looks at peace in their casket, but what you don't know is they have plastic eye caps under their eyelids that are (sometimes, not always) glued shut. There are either wires or sutures holding their mouth together and usually some cotton and a bit of wax on the inside to form that subtle smile. There might be a styrofoam block under their back to make the positioning look more natural and comfortable. There might be styrofoam blocks under the padding to help hold their arms in position. Depending on the case, they're probably wrapped in plastic garments underneath the clothing provided. There is a LOT of smoke and mirrors in preparation of a decedent." "I am working at a sports club with way over 2,000 members, and I can tell you, you might sign some paper about data security and how we handle data, but believe me, your data will go places you don't want it to go." "There are TONS of buildings out there that don't meet code, even new construction. Inspectors either don't care, don't know the code, or don't even bother to inspect in the first place. On the plus side, building code is extremely over-conservative, so if you get 'close,' it's probably safe. Maybe. Most of the time. Except when it's not. And then everyone gets sued." "I work in the medical field. This isn't really about my field exactly but an adjacent field: health insurance. There is a guy reviewing our notes looking for reasons to deny a claim. The guy reviewing generally has no clinical knowledge whatsoever, but they are looking for certain keywords so they can stamp the 'denial' on the claim. For this reason, I will omit certain things on the clinical notes if it isn't directly applicable to what I am treating because I know from experience that they will use that word as in indication that the proposed treatment is 'inappropriate' and therefore denied." "I've worked in two commercial rest homes: memory care and assisted living. They cut every corner known to man. The kitchens are pretty much guaranteed to be eligible for immediate jeopardy, meaning that if they fail a random inspection, they will be shut down that same day. The monthly food budget was less than what salary workers got paid. Food would show up rotten right off the trucks, and we were still instructed to pick out the 'bad stuff' and feed the rest to the residents. The rent is so predatory to families and residents. It was upwards of $2,500–$3,000 for a single-person room every month WITHOUT utilities. The residents pay $50 a meal for it to come cold and mushy in a styrofoam box." Nurse holding hands with patient in empathy, trust and support of help, advice and healthcare consulting. Kindness, counseling and medical therapy with doctor for hope, consultation and depression "Video editor here. We often leave obvious mistakes in early versions of the cuts so that the client will note them, making them feel smart and involved, likely leading to them not making extraneous notes elsewhere. People in non-creative positions (the majority of committee clients) absolutely love feeling like they've contributed in clever and meaningful ways to a creative project when we, the trained creatives, know better. It can save a very solid edit from the people who want to make notes for the sake of making notes." "I worked at a company with a third party 24-hour call center. They literally had times with no one working, and if you called, the automated system would just pick up and say, 'Someone would be with you shortly.' It would just repeat until someone actually clocked in and answered the phone." "This is kind of a lame one, but I work as a shirt printer. I've found that if you're an adult small, you're better off buying a youth large or youth XL, especially on T-shirts. They're a little wider, and XLs fit better than smalls. My sister learned this trick. She's 5'0" and actually saved a decent amount of money buying youth vs. adult." "When items are listed on sale at the grocery store, the sale price will be listed on a bib part of the tag while the 'regular' price is listed on the sticky part attached to the shelf. The 'regular price' is hiked up, sometimes by several dollars, to make it look like you're getting a better sale than you actually are, when in fact, the sale might actually not be that great of a deal at all. The sale price might even be almost as much as the price was before the sale. Pay attention to items at regular price when they are not on sale, and make sure that you're not getting swindled." "Enterprise Rent-A-Car buys their cars straight from the manufacturers at a price lower than dealerships get. After they rent them for a year, they sell them to the public at a price higher than they originally paid." "Beyond the visibly captured footage, pretty much everything you see in wildlife documentaries is faked. I've spent the past few years working in post, handling the raw footage. Those lizards falling from the trees? There's a dude dropping them to get the shot. That rare snow leopard they tracked across its natural habitat? It's actually three or four similar-looking ones. That mother elephant protecting her baby? It's a male elephant with the tusks and penis VFX'd out. The sound is whatever the foley artist could find that worked. The audience expects certain sounds, and some animals don't sound like you've been tricked into believing. That's just the tip of the iceberg." "I work in large scale construction. Large developers effectively borrow on the credit of all of the smaller players who are their subcontractors. You have billion-dollar companies asking smaller companies to pay for them with a promise to pay later. The larger the developer, the slower the process is to get paid. If a project goes bust, it's these small guys that get hit because all of the developers have LLCs that are project specific. No assets to speak of." "So many of your favorite actors and actresses are wearing expensive ($8,000–$20,000+) hairpieces and wigs. I know because I put them on." "I work in a call center for a large cellular company and have a dirty, little secret that consists of just two words. Ready? Be nice. That's all it takes. There's no need to threaten anyone, be aggressive, or take your anger out on us. We're real people just like you, not just a voice on the other end of the line. When you're rude, belligerent, or threatening toward us, that makes us want to do less for you. And, we will. We'll do as little as possible and maybe make you jump through extra hoops for being a pain. But, if you're nice, patient, and treat us like human beings, we'll bend over backwards to do what we can for you. We didn't cause the situation you're in. While it's reasonable to be upset about something, it's completely unreasonable to take it out on someone else. Talk to us. Tell us what's going on. Give us a chance to help, and we will." "Luxury hotels document EVERYTHING. The really ritzy places will make note on every single phone call/interaction you have. It's great for remembering special occasions and creating a really memorable stay, but it also means we know exactly how you're a pain in the butt. Irritate us enough and we'll be oddly busy and sold out for every night you're looking to book in the future." "Digital porn artist of 20+ years here. This isn't so much a 'dirty, little secret' as it is something I think people should really know about: Hollywood and 'society' may have ridiculous body standards for people, but most everyday people's actual interests/tastes are MUCH more broad and inclusive than that. Whatever your body is like, there are millions of people who would find you sexy. Whatever kink you have, you're not the only one. As long as your personality isn't garbage and you've got the patience to sort through the incompatibles, you can absolutely find a partner who would be into you. I'd put money on it." "I work in journalism. It's not uncommon for publishers and other top-tier managers to hold stories out of fear the reporting will anger advertisers. It's also not uncommon for reporters to fight like hell to preserve the integrity of a story." And: "I worked in factory floor automation, and oftentimes, the generic products sold at supermarkets are just the brand-name product in different packaging. I worked at a massive bread bakery of a well-known national brand, and the bread was all the same. When they finished a lot of their brand-name bread, they paused the packaging line and loaded on a new wheel of bags and kept bagging bread from the same batch in whatever store brand was up next. I saw the same thing at an orange juice packaging plant. There was only one set of production lines, and they turned out a dozen different brands of OJ. It all came from the same oranges and from the same lines. It just got packaged in different cartons." What are some other industry secrets more people need to know? Tell us in the comments!

Business Wire

2 days ago

• Business Wire

WhiteHawk Completes Tender Offer for Acquisition of PHX

PHILADELPHIA--(BUSINESS WIRE)--WhiteHawk Income Corporation (together with WhiteHawk Energy, LLC and their respective subsidiaries, 'WhiteHawk' or the 'Company') announced that a majority of the outstanding shares of common stock, par value $0.01666 per share (the 'Shares'), of PHX Minerals Inc. ('PHX') (NYSE: PHX) were validly tendered and the other conditions to the tender offer have been satisfied. WhiteHawk anticipates the acquisition of PHX will be consummated by WhiteHawk in accordance with, and subject to the terms of, the definitive agreement for the acquisition on Monday, June 23, 2025. Computershare Trust Company, N.A., the depositary for the tender offer, has indicated that as of 12:00 Midnight, Eastern time, at the end of June 20, 2025, approximately 28,806,761 total Shares, or 73.7% of the total Shares issued and outstanding, have been tendered into and not properly withdrawn from the tender offer. This figure does not include 50,315 Shares tendered pursuant to the guaranteed delivery procedures set forth in the Offer to Purchase. When the 50,315 Shares tendered pursuant to the guaranteed delivery procedures are included in the results, approximately 28,857,076 total Shares, or 73.8% of the total Shares issued and outstanding, will have been tendered into and not properly withdrawn from the tender offer. About WhiteHawk Energy, LLC WhiteHawk Energy, LLC is focused on acquiring mineral and royalty interests in top-tier natural gas resource plays, including the Marcellus Shale and Haynesville Shale. The management team at WhiteHawk Energy has successfully grown over $13 billion of minerals, midstream, and exploration and development companies over the last 20 years. WhiteHawk Energy currently manages approximately 1,350,000 gross unit acres within core operating areas of the Marcellus Shale and Haynesville Shale, with interests in more than 3,400 producing horizontal wells. Please go to for more information. About PHX Minerals Inc. PHX Minerals is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core focus areas. PHX owns mineral acreage principally located in Oklahoma, Texas, Louisiana, North Dakota and Arkansas. Additional information on the Company can be found at Cautionary Statement Regarding Forward-Looking Statements This document contains certain forward-looking statements about WhiteHawk and PHX, including statements that involve risks and uncertainties concerning WhiteHawk's proposed acquisition of PHX, anticipated customer benefits and general business outlook. When used in this document, the words 'anticipates,' 'can,' 'will,' 'look forward to,' 'expected' and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of WhiteHawk or PHX, that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this document due to a number of risks and uncertainties. Potential risks and uncertainties include, among others, (i) the possibility that the transaction will not close or that the closing may be delayed, (ii) the anticipated synergies of the combined companies may not be achieved after closing, (iii) the combined operations may not be successfully integrated in a timely manner, if at all, (iv) general economic conditions in regions in which either company does business, and (v) the possibility that WhiteHawk or PHX may be adversely affected by other economic, business, and/or competitive factors. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of WhiteHawk or PHX. In addition, please refer to the documents that PHX files with the U.S. Securities and Exchange Commission (the 'SEC') on Forms 10-K, 10-Q and 8-K. These filings identify and address other important factors that could cause PHX's operational and other results to differ materially from those contained in the forward-looking statements set forth in this document. You are cautioned to not place undue reliance on forward-looking statements, which speak only as of the date of this document. Neither WhiteHawk nor PHX is under any duty to update any of the information in this document. Additional Information about the Acquisition and Where to Find It This document is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of PHX, nor is it a substitute for the tender offer materials that WhiteHawk and its acquisition subsidiary will file and have filed with the SEC relating to the tender offer. The tender offer is being made pursuant to a tender offer statement on Schedule TO (including the Offer to Purchase, a related Letter of Transmittal and other offer materials) filed by WhiteHawk with the U.S. Securities and Exchange Commission ('SEC') on May 22, 2025, as amended from time to time. In addition, on May 22, 2025, PHX filed a Solicitation/Recommendation statement on Schedule 14D-9 with the SEC related to the tender offer. The tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other tender offer documents) and the Solicitation/Recommendation Statement contain important information. Holders of shares of PHX are urged to read these documents The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, have been made available to all holders of shares of PHX at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement are available for free at the SEC's web site at In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, PHX files annual, quarterly and special reports and other information with the SEC. You may read and copy any reports or other information filed by PHX at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the Commission at 1-800-SEC-0330 for further information on the public reference room. PHX's filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at

Business Insider

2 days ago

• Business Insider

TruGolf Announces Reverse Stock Split

Salt Lake City, Utah, June 18, 2025 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading provider of golf simulator software and hardware, today announced that it filed an amendment to its amended and restated certificate of incorporation with the Secretary of State of the State of Delaware to effect a 1-for-50 reverse stock split of its Class A common stock. The reverse stock split will take effect at 12:01 am (Eastern Time) on June 23, 2025, and the Company's Class A common stock will open for trading on The Nasdaq Capital Market on June 23, 2025 on a post-split basis, under the existing ticker symbol 'TRUG' but with a new CUSIP number 243733409. As a result of the reverse stock split, every fifty shares of the Company's Class A common stock issued and outstanding prior to the opening of trading on June 23, 2025 will be consolidated into one issued and outstanding share. Proportionate adjustments will be made to the exercise prices and the number of shares underlying the Company's outstanding equity awards, as applicable, as well as to the number of shares issuable under the Company's equity incentive plans. The Class A common stock issued pursuant to the reverse stock split will remain fully paid and non-assessable. The reverse stock split will not affect the number of authorized shares of Class A common stock or the par value of the Class A common stock. No fractional shares will be issued if, as a result of the reverse stock split, a stockholder would become entitled to a fractional share because the number of shares of Class A common stock they hold before the reverse stock split is not evenly divisible by the split ratio. Instead, the stockholder will be entitled to receive a cash payment in lieu of a fractional share. As a result of the reverse stock split, the number of shares of Class A common stock outstanding will be reduced from approximately 40.5 million shares to approximately 0.8 million shares, and the number of authorized shares of Class A common stock will remain at 650 million shares. About TruGolf, Inc. Since 1983, TruGolf has been passionate about driving the golf industry with innovative indoor golf solutions. TruGolf builds products that capture the spirit of golf. TruGolf's mission is to help grow the game by attempting to make it more Available, Approachable, and Affordable through technology - because TruGolf believes Golf is for Everyone. TruGolf's team has built award-winning video games ("Links"), innovative hardware solutions, and an all-new e-sports platform to connect golfers around the world with E6 CONNECT. Since TruGolf's beginning, TruGolf has continued to attempt to define and redefine what is possible with golf technology. Forward-Looking Statements This news release contains certain statements that constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements that are not of historical fact constitute 'forward-looking statements' and accordingly, involve estimates, assumptions, forecasts, judgements and uncertainties. Forward-looking statements include, without limitation, the timing of the reverse stock split. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. The Company has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors. Any forward-looking statements contained in this release speak only as of its date. The Company undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events. More detailed information about the risks and uncertainties affecting the Company is contained under the heading "Risk Factors" in the Company's Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC, which are available on the SEC's website,