RXO, Inc. Earnings Per Share Disclosure
Years Ended December 31, | ||||||||||||||||||||
| (Dollars in millions, shares in thousands, except per share amounts) | 2025 | 2024 | 2023 | |||||||||||||||||
| Net income (loss) | $ | (100) | $ | (290) | $ | 4 | ||||||||||||||
Basic weighted-average common shares (1) | 168,462 | 133,412 | 116,871 | |||||||||||||||||
| Dilutive effect of stock-based awards | — | — | 2,585 | |||||||||||||||||
Diluted weighted-average common shares (1) | 168,462 | 133,412 | 119,456 | |||||||||||||||||
| Basic earnings (loss) per share | $ | (0.59) | $ | (2.17) | $ | 0.03 | ||||||||||||||
| Diluted earnings (loss) per share | $ | (0.59) | $ | (2.17) | $ | 0.03 | ||||||||||||||
Antidilutive shares excluded from diluted weighted-average common shares | 1,980 | 2,783 | 396 | |||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 9, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 13, 2024 | |
| 2022 | Feb 24, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.