RXO, Inc. guided third-quarter adjusted EBITDA to a range of $35 million to $45 million, as accelerating brokerage momentum is expected to offset a steeper-than-usual seasonal decline in its Last Mile business. Chief Financial Officer James Harris disclosed the outlook during the company's second-quarter earnings call, where RXO reported total revenue of $1.8 billion, gross margin of 13.9%, adjusted EBITDA of $40 million, and adjusted earnings per share of $0.06. Brokerage revenue rose 32% year-over-year to $1.3 billion, with truckload volume up 2% and spot mix reaching 42% in the quarter, while Chief Strategy Officer Jared Weisfeld noted that spot mix climbed further to 50% of truckload volume in July. The Last Mile segment, which generated $344 million in revenue, faces an incremental sequential headwind of $3 million to $5 million due to weaker demand and higher carrier costs. Management also highlighted that Managed Transportation was awarded approximately $100 million in freight under management during the quarter and another $100 million in July.
RXO Inc.Guides Q3 adjusted EBITDA to $35-$45M, with brokerage momentum offsetting Last Mile decline.
