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“We remain focused on profitable growth and long-term performance,” CEO Drew Wilkerson says. (RXO)

RXO reported Feb. 6 significant sales momentum in the fourth quarter, despite the current freight environment, as truckload capacity continued to tighten.

The Charlotte, N.C.-based asset-light transportation provider posted a net loss of $46 million, or 27 cents a diluted share, for the three months ending Dec. 31. That compared with a loss of $25 million, 15 cents, during the same time the previous year. Total revenue decreased 11.9% to $1.47 billion from $1.67 million.

“In the fourth quarter, tightening in the freight market accelerated, driven by continued reductions in truckload capacity.” RXO CEO Drew Wilkerson said. “This impacted our buy rates and squeezed our brokerage gross margin. While demand remained soft, we have significant sales momentum. The brokerage late-stage pipeline for new business grew by more than 50%.”

RXO noted the net loss included $31 million in transaction, integration, restructuring and other costs, among them a $12 million goodwill impairment related to the restructuring of ground and air express service offerings. The adjusted net loss in the quarter was $11 million compared with adjusted net income of $10 million in 2024.

“We remain focused on profitable growth and long-term performance,” Wilkerson said. “Our larger scale, asset-light model and improving cost structure drive strong cash flow. Furthermore, our technology continues to advance through transformational AI, and our new $450 million lending facility ensures we’ll have flexibility across all market cycles. RXO is well-positioned for the long term.”

RXO also reported a year-over-year decline in earnings before interest, taxes, depreciation, and amortization. The adjusted figure in the report fell to $17 million from $42 million during the prior-year period. EBITDA margin also was 1.2%, compared with 2.5% in 2024.

This morning, we released our 4Q 2025 results. Our Brokerage late-stage sales pipeline increased by more than 50% year-over-year and Managed Transportation was awarded more than $200 million of freight under management. We also announced that we’ve finalized a $450 million… — RXO (@rxoinc)

For the full year, RXO reported a net loss of $100 million, or negative 59 cents a share, on revenue of $5.74 billion, compared with a net loss of $290 million, negative $2.17, on revenue of $4.55 billion in 2024.

Truck brokerage revenue decreased 13.7% to $1.09 billion from $1.27 billion. The report noted that segment volumes declined 4% year over year in the fourth quarter. Less-than-truckload volume increased 31% but was offset by a decline in full truckload volume.

Brokerage gross margin was 11.9% during the quarter as well.

Complementary services revenue was virtually unchanged from the prior year at $431 million. The report highlighted that managed transportation was awarded more than $200 million of freight under management during the quarter, while increasing the synergy loads provided to brokerage. In addition, last-mile stops grew 3% year over year.

TD Cowen noted in a report that the results came in below the low end of Saia’s EBITDA guidance and said it now expects first-quarter EBITDA to fall well below already-lowered consensus estimates. The firm also pointed out that while truckload volumes declined, LTL activity picked up during the quarter.

“1Q to see elevated earnings pressure with adjusted EBITDA guide of $8.5 [million] at the midpoint coming in well below where consensus expectations were anchored,” TD Cowen analyst Jason Seidl wrote. He added that the midpoint of the company’s 11%-13% gross margin guide suggests trends roughly in line with the quarter as buy-rate pressure persisted in January, and seasonal softness and weather weighed on volumes despite gradual improvement in key end markets such as automotive and industrial.

RXO ranks No. 16 on the Transport Topics Top 100 list of the largest logistics companies in North America.