RXO盘中跌逾6%，报道仅复述旧财报质量担忧而无新增基本面事实

Shares of RXO, Inc. (RXO), a brokered transportation platform, tumbled more than 6% on Monday, pulling back after the prior session's 4% gain. The decline resumed a downtrend, with the stock in danger of finishing lower in five of the past six sessions.
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The broader context for RXO's recent trading traces back to its Q2 2026 earnings report on August 6, which delivered headline beats but stirred concern about the quality of that growth.
The company posted non-GAAP EPS of $0.06, beating estimates by $0.02, on revenue of $1.8 billion, up 27.7% year over year and ahead of expectations by $170 million. For the third quarter, management guided adjusted EBITDA to $35 million–$45 million.
Despite those headline numbers, analysts focused on the underlying details. Gross margin declined to 17% from 21.2% a year earlier, adjusted EBITDA came in flat, and adjusted free cash flow was negative $42 million, driven by working capital needs.
The table below showcases the stock's daily activity over the past few days:
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Quipus Capital argued on August 7 that most of RXO's revenue gains stemmed from higher freight rates and fuel prices rather than core business economics, with gross profit declining and adjusted EBITDA flat, maintaining a neutral view given a valuation implying roughly 20x normalized earnings. Read more
A separate piece published August 8 by Andres Veurink highlighted gross margin compression to 17% from 21.2%, negative operating cash flow, and rising long-term debt, taking a bearish stance given a valuation near 33x EV/EBITDA and 164x forward P/E. Read more