The episode opens with the volatile reaction on Wall Street to 3PL RXO's third-quarter earnings, which saw the stock plummet over 14.8% in pre-market trading after the 6:30 a.m. The logistics provider reported performance that was largely stagnant year-over-year, including a decline in adjusted net income to $2 million and a GAAP net loss of 8 cents per share, prompting the CEO to emphasize strategic scale and cost initiatives for future profitability.
We also cover the ongoing disruption at UPS Worldport in Louisville following the deadly cargo jet crash that happened on Tuesday. Although night sorting operations resumed Wednesday evening to enable next-day air deliveries for Thursday, UPS has relaxed delivery commitments, extending some time-definite services by 90 minutes or 72 hours due to the continuing investigation and resulting runway closure.
National Transportation Safety Board investigators have successfully recovered both the cockpit voice recorder and the flight data recorder from the MD-11 freighter. Authorities have confirmed 12 fatalities from the incident, including the three crew members, as investigators work diligently to determine the probable cause and minimize slowdowns to the critical freight network, which moves life-saving drugs and postal products.
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