RXO Provides Positive Brokerage Update, Highlighting Strong Truckload Gross Profit Per Load
Truckload gross profit per load increased by more than 10 percent in August when compared to July, better than the prior outlook
Company continues to expect third-quarter truckload volume to increase by a low-to-mid single digit percentage year-over-year
RXO (NYSE: RXO), a leading provider of asset-light transportation solutions, announced today that it has achieved stronger than anticipated quarter-to-date truckload gross profit per load.
The company continues to capture spot opportunities, and spot represented approximately 50% of RXO’s full-truckload volume through the first two months of the quarter. In addition, the company continues to phase in higher contract rates while leveraging its scale to purchase transportation effectively. As a result, RXO’s truckload gross profit per load increased by more than 10 percent in August when compared to July, which was better than the outlook provided on the company’s second-quarter earnings conference call.
