Let’s dig into the relative performance of Hertz (NASDAQ: HTZ) and its peers as we unravel the now-completed Q2 ground transportation earnings season.
The growth of e-commerce and global trade continues to drive demand for shipping services, especially last-mile delivery, presenting opportunities for ground transportation companies. The industry continues to invest in data, analytics, and autonomous fleets to optimize efficiency and find the most cost-effective routes. Despite the essential services this industry provides, ground transportation companies are still at the whim of economic cycles. Consumer spending, for example, can greatly impact the demand for these companies’ offerings while fuel costs can influence profit margins.
The 15 ground transportation stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 1.7%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.6% since the latest earnings results.
Hertz (NASDAQ: HTZ)
Started with a dozen Model T Fords, Hertz (NASDAQ: HTZ) is a global car rental company providing vehicle rental services to leisure and business travelers.
Hertz reported revenues of $2.40 billion, up 9.7% year on year. This print exceeded analysts’ expectations by 4.9%. Overall, it was an incredible quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Interestingly, the stock is up 14.4% since reporting and currently trades at $1.78.
Is now the time to buy Hertz? Access our full analysis of the earnings results here, it’s free.
RXO (NYSE: RXO)
With access to millions of trucks, RXO (NYSE: RXO) offers full-truckload, less-than-truckload, and last-mile deliveries.
RXO reported revenues of $1.77 billion, up 25% year on year, outperforming analysts’ expectations by 7.9%. The business had an incredible quarter with EBITDA guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.
RXO scored the biggest analyst estimate beat and fastest revenue growth in the group. The market seems happy with the results as the stock is up 39.1% since reporting. It currently trades at $29.21.
Is now the time to buy RXO? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Werner (NASDAQ: WERN)
Conducting business in over a 100 countries, Werner (NASDAQ: WERN) offers full-truckload, less-than-truckload, and intermodal delivery services.
Werner reported revenues of $933.9 million, up 24% year on year, in line with analysts’ expectations. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates and adjusted operating income in line with analysts’ estimates.
As expected, the stock is down 10.7% since the results and currently trades at $34.22.
Read our full analysis of Werner’s results here.
ArcBest (NASDAQ: ARCB)
Historically owning furniture, banking, and other subsidiaries, ArcBest (NASDAQ: ARCB) offers full-truckload, less-than-truckload, and intermodal deliveries of freight.
ArcBest reported revenues of $1.18 billion, up 15.9% year on year. This result met analysts’ expectations. Overall, it was a strong quarter as it also put up a decent beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.
The stock is down 12.3% since reporting and currently trades at $131.11.
Read our full, actionable report on ArcBest here, it’s free.
XPO (NYSE: XPO)
Owning a mobile game simulating freight operations for the Tour de France, XPO (NYSE: XPO) is a transportation company specializing in expedited shipping services.
XPO reported revenues of $2.36 billion, up 13.2% year on year. This number topped analysts’ expectations by 2.8%. It was an exceptional quarter as it also produced an impressive beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.
The stock is down 6.5% since reporting and currently trades at $186.51.
Read our full, actionable report on XPO here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
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