RXO says truckload spot rates surged most in five years

Earnings

โดย FreightWaves·

Summary · why it matters

Freight broker RXO said Tuesday that its truckload spot rate index recorded its biggest sequential gain in five years during the second quarter, with the surge extending into the third quarter. The index, which tracks linehaul rates excluding fuel surcharges, rose 32.4% year over year in the second quarter, up from 16.5% in the first quarter, and is up 43% year over year so far in the third quarter. RXO's all-in cost-per-mile index, including fuel surcharges, hit 154.9 in the second quarter, the highest since the first quarter of 2022. The company attributed the tightness to a steady exodus of capacity from regulatory enforcement and poor carrier economics, with carrier operating costs up 29% excluding fuel from the prior cycle peak. RXO executives said spot rates have consistently outpaced contract rates, straining shipper routing guides, and expect further rate volatility through peak season.