RXO Q2 Revenue Jumps 25% to $1.8B, Brokerage Momentum Drives Q3 Outlook Above Street
RXO has more than doubled off its 52-week low of $10.425.
Summary
RXO reported Q2 2026 revenue of $1.8B, up 25% y/y, with adjusted EBITDA of $40M and adjusted EPS of $0.06. Brokerage spot mix surged, driving the best sequential gross profit per load growth in four years. Q3 adjusted EBITDA guidance of $35–$45M points to continued recovery momentum.
Key Events · Earnings and Guidance · RXO
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Q2 Revenue Surges 25% to $1.8B
Revenue rose to $1.8 billion from $1.4 billion a year ago, driven by brokerage volume growth and higher freight rates. Brokerage truckload volume increased 2% y/y, with spot mix reaching 42% of volume, up 900 bps sequentially.
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Adjusted EBITDA of $40M, EPS of $0.06
Adjusted EBITDA was $40 million (2.3% margin) vs $38 million in Q2 2025. Adjusted diluted EPS was $0.06, up from $0.04 a year ago, despite a GAAP net loss of $9 million.
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Q3 Outlook: $35M–$45M Adjusted EBITDA
RXO expects Q3 adjusted EBITDA between $35 million and $45 million, with brokerage volume up low-to-mid single digits y/y and truckload gross profit per load increasing sequentially. July revenue per load growth accelerated to >25% y/y.
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Brokerage Gross Profit per Load Jumps 11%
Truckload gross profit per load rose 11% sequentially, the highest growth rate in four years, driven by a 900 bps increase in spot mix and improving contract rates.
Analysis · RXO · Energy & Transportation
A 25% year-over-year revenue surge to $1.8 billion underscores RXO's strong Q2, fueled by market share gains and a sharp recovery in brokerage truckload spot mix. Adjusted EBITDA reached $40 million, and the company guided Q3 adjusted EBITDA to $35–$45 million, signaling continued momentum. Brokerage truckload gross profit per load jumped 11% sequentially—the best in four years—while July revenue per load growth accelerated to over 25% year-over-year. These results and the outlook confirm RXO is capitalizing early in the freight cycle recovery, with proprietary technology and spot-market exposure driving differentiated performance. The announcement also includes a new $125 million share repurchase program, underscoring management's confidence in the balance sheet and cash generation trajectory.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 35.9% of the 1030 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, RXO was trading at $23.49 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.5B. The 52-week trading range was $10.43 to $29.90. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.