XPO Logistics Builds Momentum Into RXO Spin-Off

After successfully spinning off GXO Logistics (NYSE: GXO) last year, XPO Logistics (NYSE: XPO) is on track to run the same playbook, splitting the truck brokerage business, dubbed RXO, from the core North American less-than-truckload (LTL) business. The company sold off its intermodal business earlier this year, and plans to divest its European business ahead of the spin-off in Q4 as well, making both businesses streamlined pure plays in their respective sectors. Revenue adjusted for the sale of its intermodal business increased 10.3% to $3.23 billion, which beat estimates at $3.17 billion.