RXO, Inc. (RXO) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Welcome to the RxO Q2 2026 Earnings Conference Call and Webcast. My name is Erica and I will be your operator for today's call. Please note that this conference is being recorded. Thank you so much for joining us. is contained in the company's SEC filings as well as in its earnings release. You should refer to a copy of the company's earnings release in the Investors Relations section on the company's website for additional important information regarding forward-looking statements and disclosures and reconciliations of non-GAAP financial measures that the company uses when discussing its results. I will now turn the call over to Drew Wilkerson. Mr. Wilkerson, you may begin. Good morning, everyone. Thank you for joining today. With me here in Charlotte are RxO's Chief Financial Officer, Jamie Harris, and Chief Strategy Officer, Jared Weisfeld. We delivered strong results in the second quarter, including volume gains across the business and improved profitability. There are four main points I want to convey this morning. First, in brokerage, we gained profitable market share. Truckload volume grew by 2%, outperforming the market. As you'll recall, we previously committed to resuming our truckload outperformance as early as the middle of the year. We achieved that ahead of schedule. We had the largest sequential increase in the gross profit per load growth rate in four years, driven by our spot mix, which was 42% in the quarter. Second, complimentary services delivered strong results. Last Mile gained share and grew stops by 3%, and Manage Transportation was awarded about $100 million in freight under management in the quarter. Third, we expect the momentum in the business to continue with anticipated year-over-year brokerage volume and gross profit pe...