RXO, a provider of asset-light transportation solutions, announced that its truckload brokerage business is outperforming prior expectations as tightening market conditions and rising spot rates create new opportunities for the company.
The company said it now expects May truckload gross profit per load to outperform typical seasonality and be at least flat compared to April results. RXO had previously projected a decline in truckload gross profit per load during its first-quarter earnings call on May 7.
According to RXO, market conditions tightened further during May, driven in part by the Commercial Vehicle Safety Alliance’s International Roadcheck event, which constrained carrier capacity across the trucking industry. The company said it capitalized on the disruption by winning significant spot freight opportunities that more than offset pressure on its contractual freight business.
RXO also reported that spot freight increased as a percentage of its brokerage truckload volume during the first two weeks of May compared to April.
At the same time, RXO released new data from The Curve, its proprietary truckload spot rate index, showing that first-quarter truckload spot rates rose 16.5% year-over-year, the strongest increase since the third quarter of 2021. The company said the first-quarter increase marked a sharp acceleration from the fourth quarter of 2025, when spot rates increased 5.2%.
RXO added that second-quarter spot rates continue to rise sequentially and year-over-year through May 15, with The Curve on pace to exceed first-quarter levels.
The company attributed the increase in rates to continued carrier capacity exits and stricter regulatory enforcement, which have created a supply imbalance relative to shipper demand. RXO said carriers continue to face mounting operational costs, including higher labor expenses, insurance premiums, diesel prices, and financing costs.
In addition, RXO announced that its April full-truckload volume declined approximately 2% year-over-year, representing a substantial improvement from first-quarter performance and more than a 200-basis-point outperformance compared to the Cass Freight Index, which fell more than 4% year-over-year during April.
RXO said the update was released ahead of an investor conference appearance by Chief Strategy Officer Jared Weisfeld.
The Curve is RXO’s proprietary truckload market forecasting platform and is used by large shippers to monitor freight market conditions and spot pricing trends.
KEY QUOTES:
“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.
We’re seeing significant linehaul and contract rate increases, despite muted shipper demand. Carriers remain under immense cost pressure, driven by increasing labor expenses, a higher cost of capital, insurance premiums, and, of course, diesel prices. The recent surge in rates, primarily due to continued capacity exits, has allowed carriers to begin to offset these inflationary pressures. If there is any uptick in shipping volumes, rates will rise at an even faster pace.”
Jared Weisfeld, Chief Strategy Officer, RXO
“We’ve been in a year-over-year inflationary market for several quarters due to declining carrier capacity, but that hadn’t driven a substantial increase in rates until recently. The first quarter saw a significant spike in truckload rates, and that trend has continued into the first half of the second quarter. During CVSA Roadcheck last week, which further constrained capacity, truckload rates outperformed seasonality and hit levels we haven’t seen since 2022.”
Corey Klujsza, Vice President Of Pricing And Procurement, RXO
