RXO has finalized its $1.025 billion acquisition of Coyote Logistics from UPS, a move that makes RXO the third-largest provider of brokered transportation in North America.

The Charlotte, N.C.-based asset-light transportation provider posted a net loss of $7 million, or 6 cents a diluted share.

UPS Inc. has entered into a definitive agreement to sell its asset-light freight brokerage business, Coyote Logistics, to RXO Inc., the company announced June 23.

RXO experienced its fourth consecutive quarter of double-digit brokerage volume growth for the first quarter of 2024, the company reported May 2.

RXO closed out its first full year as a stand-alone company by reporting fourth-quarter earnings gains on a year-over-year revenue decline, the company detailed Feb. 8.

RXO reported negative net income and a 14% decline in revenue during the third quarter.

RXO Chief Strategy Officer Jared Weisfeld discussed what it was like to launch a new company amid a freight market downturn on RXO’s one-year anniversary Nov. 1.

Lower freight rates, a moderation in brokerage gross margin and the cost of operating as a stand-alone public company hurt profits at RXO Inc. in the second quarter of 2023.

Michigan state officials are enthusiastic about 140 new jobs and a $2.35 million expansion in Ann Arbor by RXO Corporate Solutions to increase its brokerage presence.

RXO on May 3 reported revenue exceeding $1 billion in its first full quarter as an independent company. The Charlotte, N.C.-based business formerly operated within XPO.