RXO expects May truckload gross profit per load to be ‘at least flat’ vs. April

RXO 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, CSO. 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.