RXO Provides Brokerage Update, Including Improved Outlook for Truckload Gross Profit Per Load

• Company winning accretive spot opportunities
• April volume outperformed the Cass Freight Index

CHARLOTTE, N.C.--(BUSINESS WIRE)--RXO (NYSE: RXO), a leading provider of asset-light transportation solutions, now expects May truckload gross profit per load to outperform typical seasonality and be at least flat to the company’s April result.

On the company’s first-quarter earnings conference call on May 7, RXO outlined that it expected truckload gross profit per load to decline in May.

“Last week, market conditions tightened even further, exacerbated by CVSA International Roadcheck. RXO stayed close to our customers and won significant spot opportunities, helping to more than offset the squeeze on our contractual book of business,” said Jared Weisfeld, RXO’s chief strategy officer.

Spot increased as a percentage of the company’s Brokerage truckload volume in the first two weeks of May when compared to April.

In addition, RXO announced that its April full-truckload volume outperformed relative to the market. RXO’s truckload volume declined by approximately 2% year-over-year in April, a significant improvement relative to the first quarter, and a more than 200-basis-point outperformance when compared to the Cass Freight Index, which declined by more than 4% year-over-year in April.

The company made the announcement ahead of an investor conference at which Weisfeld is speaking.

About RXO
RXO (NYSE: RXO) is a leading provider of asset-light transportation solutions. RXO offers tech-enabled truck brokerage services together with complementary solutions including managed transportation and last mile delivery. The company combines massive capacity and cutting-edge technology to move freight efficiently through supply chains across North America. The company is headquartered in Charlotte, N.C. Visit RXO.com for more information and connect with RXO on Facebook, X, LinkedIn, Instagram and YouTube.