Key Highlights

  • Adjusted EPS of USD 0.09 beat the consensus estimate of USD 0.08, while GAAP diluted EPS was USD 0.02.
  • Revenue of USD 1,871 million rose about 32% year over year and topped the consensus estimate of USD 1.82 billion.
  • Adjusted EBITDA reached USD 51 million versus USD 32 million, lifting the Margin to 2.7% from 2.3%.
  • A USD 5.8 billion stock and cash sale to C.H. Robinson targets a first half 2027 close.

RXO, Inc. (NYSE:RXO) reported third quarter 2026 Revenue of USD 1,871 million, up from USD 1,421 million a year earlier and above a consensus estimate of USD 1.82 billion. Adjusted Diluted Earnings per Share were USD 0.09 against a consensus estimate of USD 0.08 and USD 0.01 in the prior year quarter. GAAP diluted earnings per share were USD 0.02, compared with a loss of USD 0.08, on Net Income of USD 3 million versus a net loss of USD 14 million.

Chairman and Chief Executive Officer Drew Wilkerson said profit exceeded the high end of the company outlook for the quarter, with continued Market Share gains in Brokerage. Adjusted net income was USD 16 million versus USD 2 million.

Brokerage Mix and Margin Detail

Truck brokerage revenue rose to USD 1,433 million from USD 1,039 million. Brokerage Volume increased 2% year over year, with truckload volume up 3% and improving every month, and less than truckload volume up 2%. Truckload spot mix reached 51% of volume, compared with 29% a year earlier and 42% in the second quarter, and Gross Profit per load rose 31% sequentially, its largest sequential increase in more than four years.

Consolidated gross margin was 14.6% versus 16.5%, and brokerage gross margin was 12.6% versus 13.5%. Complementary services gross margin was 18.7% compared with 21.3%. Last Mile stops grew 5%, Last Mile revenue reached USD 334 million, and Managed Transportation, with revenue of USD 163 million, was awarded about USD 140 million of freight under management. Operating Income was USD 17 million versus a loss of USD 7 million.

Pending Acquisition and Balance Sheet

On October 5, 2026, the company agreed to be acquired by C.H. Robinson in a stock and cash transaction with an implied value of USD 5.8 billion at announcement. Closing is targeted for the first half of 2027 and is subject to customary conditions, including regulatory and Shareholder approval. Because of the proposed transaction, the company did not host an Earnings Call for the quarter.

Cash was USD 25 million at September 30, with Long Term Debt and finance Lease obligations of USD 461 million plus USD 35 million of short term debt. Nine month net cash from Operating Activities was an outflow of USD 22 million, as Accounts Receivable rose by USD 261 million, against an inflow of USD 44 million a year earlier. Nine month revenue was USD 5,070 million and the net loss was USD 42 million.

Deal Milestones and Operating Metrics to Follow

Closing in the first half of 2027 depends on regulatory and shareholder approvals, and the company listed termination events and unmet closing conditions among its risk factors. Operating markers include truckload spot mix at 51%, brokerage gross margin at 12.6%, and the 31% sequential rise in gross profit per load. Cash Flow is another measurable item, with the nine month operating outflow of USD 22 million and accounts receivable of USD 1,478 million at quarter end.