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RXO Report Second Quarter Financial Results and Outlook

August 16, 2026  by Karen Parrish in Business Strategy, Industry   

RXO Chairman and CEO Drew Wilkerson said, “RXO delivered strong second-quarter results, including profitable volume growth across the business. In Brokerage, we outperformed the market sooner than our previously communicated expectations, with truckload volume growth of 2 percent. We also achieved another historic sequential increase in gross profit per load, the best in four years, primarily driven by a 900-basis-point sequential increase in truckload spot mix. In Complementary Services, Last Mile gained market share and grew stops by 3 percent. Managed Transportation won approximately $100 million in additional freight under management.”

Wilkerson continued, “Importantly, we achieved these results with strong carrier vetting and cargo security practices, which were recently recognized with awards from both CargoNet and FreightWaves. We have strong momentum and anticipate that Brokerage will continue to deliver volume and gross profit-per-load growth in the third quarter. RXO is the broker of choice for spot activity, special projects and mini-bids. We’re in the early stages of a recovery. This is the part of the freight cycle where RXO’s unique algorithm drives differentiated results.”

Companywide Results

RXO’s revenue was $1.8 billion for the second quarter, compared to $1.4 billion in the second quarter of 2025. Gross margin was 13.9%, compared to 17.8% in the second quarter of 2025.

The company reported a second-quarter 2026 GAAP net loss of $9 million, compared to a net loss of $9 million in the second quarter of 2025. The second-quarter 2026 GAAP net loss included $13 million in transaction, integration, restructuring and other costs. Adjusted net income in the quarter was $10 million, compared to adjusted net income of $7 million in the second quarter of 2025.

Adjusted EBITDA was $40 million, compared to $38 million in the second quarter of 2025. Adjusted EBITDA margin was 2.3%, compared to 2.7% in the second quarter of 2025.

GAAP earnings per share were impacted $0.11, net of tax, by transaction, integration, restructuring and other costs, and amortization of intangibles. For the second quarter, RXO reported a GAAP diluted loss per share of $0.05. Adjusted diluted earnings per share was $0.06.

Brokerage

Volume in RXO’s Brokerage business increased by 2% year over year in the second quarter. Truckload volume increased by 2% and less-than-truckload volume increased by 3%. Full truckload volume improved every month throughout the quarter.

Truckload spot mix was 42% of volume in the quarter, up from 33% in the first quarter of 2026, helping to drive the largest sequential gross profit per load growth rate in four years. Truckload spot mix grew by 1,500 basis points year over year.

Brokerage gross margin was 10.7% in the second quarter.

Complementary Services

Managed Transportation was awarded approximately $100 million of freight under management in the second quarter.

Last Mile stops increased by 3% year over year as a result of market share gains.

RXO’s complementary services gross margin was 21.1% for the quarter.

Third-Quarter Outlook

RXO expects third-quarter 2026 adjusted EBITDA to be between $35 million and $45 million.

In Brokerage, the company expects overall volume growth to increase by a low-to-mid-single-digit percentage year over year. The company expects truckload gross profit per load to increase sequentially.

Conference Call

The company will hold a conference call and webcast on Thursday, August 6 at 8 a.m. Eastern Daylight Time. Participants can call in toll-free (from U.S./Canada) at +1 833-461-5787; international callers dial +1 585-542-9983. The meeting ID is 501829031. A live webcast of the conference call will be available on the investor relations area of the company’s website, http://investors.rxo.com.

A replay of the webcast will be available at http://investors.rxo.com for one year following the event.

The full press release can be read here.