EarningsQ1 2026 Earnings Report
MX:RXO Q1 2026 EPS Results
Actual EPS-$1.63
Consensus EPS-$1.75
Beat/MissBeat by +$0.13
One Year Ago EPS-$0.54
MX:RXO Q1 2026 Revenue Results
Actual Revenue$25.75B
Expected Revenue$24.26B
Beat/MissBeat by +$1.50B
YoY Revenue Growth-0.56%
Earnings Announcement Details
QuarterQ1 2026
Date05/07/2026
TimeBefore Open
Conference CallThursday, May 7, 2026
MX:RXO Upcoming Earnings
RXO, Inc.'s next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
MX:RXO Q1 2026 Earnings Call
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Q1 2026 Earnings Slide Deck
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed clear operational momentum (spot mix gains, higher revenue per load, managed transportation wins, rapid pipeline growth, and early AI-driven productivity/margin improvements) and an optimistic forward outlook, including raised expectations for full-year contract rate increases (now expected high single digits) and a materially improved Q2 EBITDA guide. However, near-term financials remain pressured by Q1 volume declines, weather-related impacts, negative free cash flow, elevated net leverage and margin headwinds from fuel and cost of transportation. Overall, executives emphasized being in the early innings of a supply-driven recovery and highlighted structural advantages (scale, technology, carrier vetting) that support a positive trajectory.Company Guidance
Revenue and Profitability Drivers
Total revenue of $1.4 billion in Q1 with gross margin of 14.2%. Brokerage revenue was $1.1 billion (74% of total), up 3% year-over-year, driven by higher freight rates, longer truckload length of haul and higher fuel prices.
Spot Mix and Gross Profit per Load Improvement
Spot mix increased by 500 basis points sequentially and ~600 basis points year-over-year in the quarter, with April spot mix reported at 35%. Truckload gross profit per load increased 9% sequentially and was approximately 10% higher in April versus the quarter average, contributing materially to margin improvement.
Revenue per Load Acceleration
Truckload revenue per load rose 8% year-over-year in Q1 (fastest increase in 4 years) and accelerated to +12% year-over-year in April (excluding fuel and length of haul), reflecting supply-driven rate improvements.
Managed Transportation and Pipeline Momentum
Managed Transportation won more than $100 million in freight under management in Q1; late-stage managed transportation sales pipeline increased by more than $200 million sequentially. Middle mile solutions launched in February with a pipeline >$70 million and >$20 million already booked.
AI and Technology Adoption
Agentic AI deployments drove tangible productivity and margin benefits: >500,000 automated phone calls in the quarter, digital quoting improved truckload quotes by ~30% sequentially, carrier digital offers up ~15%, and early adopters of the AI spot agent are seeing increases in both volume and gross profit per load.
Operational Recognition and Customer Retention
RXO received Carrier of the Year awards from Heineken USA, Graphic Packaging and Rise Baking; about half of the Fortune 500 use RXO, with top customers having ~16 years average tenure, supporting stickiness and cross-sell opportunities.
Guidance and Near-Term Earnings Outlook
Company expects a significant sequential improvement in adjusted EBITDA with Q2 guidance of $27 million to $37 million (midpoint implies approximately a ~6x increase vs Q1 $6M) and expects brokerage volume to be roughly flat year-over-year in Q2 and to resume outperformance vs. the market by mid-year.
Capital Structure and Liquidity
Refinanced 2027 senior notes to May 2031 and announced an asset-based lending facility; total available liquidity of $386 million at quarter-end and quarter-end cash of $21 million, providing flexibility to invest and grow.
Productivity Gains
Productivity (loads per person per day) improved ~15% year-over-year, reflecting technology and process efficiencies that support long-term margin expansion.
MX:RXO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed