RXO Inc. reports Q1 adjusted EPS (9c), consensus (9c)

Reports Q1 revenue $1.4B, consensus $1.34B. CEO Drew Wilkerson said, “We have significant momentum in our business. We’re converting our strong Brokerage sales pipeline and, while our Brokerage volume declined by 8% year-over-year in Q1, our full truckload volume improved every month as the quarter progressed. In addition, our truckload spot mix increased by 500 basis points sequentially in the quarter, which helped drive an increase in gross profit per load. When it comes to the broader market, we’re seeing clear signs of improvement, primarily driven by supply-side tightening, despite overall soft demand. Looking ahead, we expect the positive trends we’re seeing in volume and Brokerage gross profit per load to continue, and in Q2 we anticipate a significant sequential improvement in results. We’re proving to be the carrier of choice for spots, projects and mini-bids; we’re leveraging our scale and asset-light model; and we’re deploying agentic AI across the company. Our conviction is even higher that the ongoing carrier exits in the market are structural in nature and that a supply-driven recovery is taking shape. RXO is well positioned to deliver strong shareholder returns over the long term.”