RXO at Morgan Stanley laguna conference: share gains lift outlook

On September 16, 2026, RXO presented its business at Morgan Stanley's 14th Annual Laguna Conference, highlighting growth that outpaces the freight market, despite soft demand. The company emphasized share gains, improved margins, and technology-driven productivity. Management noted that truckload volume is anticipated to grow at a low to mid-single-digit rate year-over-year, projecting around a 500 basis point increase in sequential market share compared to historical Cass trends.

Adjusted EBITDA guidance for Q3 was raised to $35 million to $45 million, following a 10% rise in gross profit per load from July to August. RXO highlighted the deployment of its AI spot quote agent, which enhances pricing speed and load conversion. The company anticipates long-term benefits from consolidation, Yellow's bankruptcy, and higher insurance costs for smaller competitors.

RXO's volume growth is outpacing headcount reductions in the mid-single digits, and the firm expects to add 15% or more volume with its current staff and technology. The acquisition of Coyote Logistics has been fully integrated, providing access to more than 120,000 carriers and over 1 million power units. RXO's customer base is strongest in retail, e-commerce, and industrial freight, with a 25% year-over-year increase in revenue per load in July, excluding fuel and length of haul.

The company's technology-driven approach focuses on maintaining human interaction, as customer contact remains crucial in a people-based business.