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Less-than-truckload carrier Saia is the first company to provide an update on shipment trends for the fourth quarter, leaving at least one analyst “encouraged.”
Penske Logistics plans to acquire Black Horse Carriers, a Chicago-based trucking company with more than 2,000 vehicles and 4,000 employees.
Cold storage heavyweight Lineage Logistics announces the acquisition of Poland’s largest temperature-controlled storage and logistics provider, Pago.
Triten Real Estate Partners announces its latest industrial real estate portfolio addition, picking up the headquarters of Polar Service Centers in a sale-leaseback agreement.
All measures of bad loans are healthier in BMO’s report
Temperature-controlled carrier KLLM Transport Services is rolling out “one of the largest” increases to driver pay in the company’s more than 55-year history.
J.B. Hunt adds to its final-mile network through acquisition for the fourth time since 2017. The company announces the acquisition of commercial fitness delivery and installation company Mass Movement.
Recent data points as well as updates from retailers suggest this inventory restocking cycle may take a few quarters to fix, meaning the current supply-demand dynamic in trucking could linger.
Worries mount for crude tankers: dividend cuts, the pandemic, a stubborn floating-storage hangover … and now newbuild chatter.
Forward Air adds to non-airport less-than-truckload service by opening a facility in Bethlehem, Pennsylvania.
Mirroring bullish comments by Maersk and Hapag-Lloyd, container line CMA CGM reports a strengthening market in the fourth quarter.
Trucking executives were on hand at Stephens Annual Investment Conference this week, making it known that this cycle is different and that the current market dynamics are here for a while.
YRC head Darren Hawkins has “a lot of confidence” heading into 2021. Network restructuring initiatives are expected to be greatly advanced as the carrier starts accepting delivery of new equipment.
Landstar System inches its fourth-quarter expectations higher but cautions that this trucking cycle may not be different from those in the past.
Payouts will be $1,000 to full-time workers, covering about 75% of all company employees
Holiday orders will be spread evenly throughout cycle, CEO says.
Net profit skyrockets by more than 2,800% to $144.4 million.
Maersk confirms that cargo demand looks strong through year-end, bucking the usual seasonal trend.
EPS reported above analysts’ consensus.
“Winter is Coming” is a warning in House Stark and usually a blessing for tankers. But there’s nothing usual about 2020.
South Korean carrier turns quarterly $103 million loss last year into $20 million profit this year.
Package revenue surpasses first-class mail revenue for first full-year period in history.
Hapag-Lloyd sees strength until “at least Chinese New Year” and a challenge to “get containers where they need to be.”
The earnings season for the third quarter has wrapped up and Todd Fowler of KeyBanc has a few things to say. Fowler is the lead transportation analyst at KeyBanc and he shares his perspective on the numbers on this week’s edition of Drilling Deep. What companies did things that were notable? And what did the […]
What won and what lost in the third quarter for the rails?
E-commerce fulfillment provider Transportation and Logistics Systems announces plans to acquire delivery and warehousing company Cougar Express.
“The outlook of container shipping still remains clouded in uncertainties over the possible comeback of the COVID-19 pandemic and U.S.-China trade conflicts.”
Management from Schneider National expects tightness in the trucking markets to continue. Inventory restocking will keep truck demand elevated and new capacity is entering the market at a slower pace than in previous cycles.
Flatbed carriers Hornady Transportation and Builder’s Transportation Co. announce the completion of their merger. The deal is part of parent company Daseke’s operational overhaul.
Canadian trucking and logistics firm Titanium Transportation Group set a third-quarter record for revenue as U.S. freight brokerage businesses delivered rapid growth.
Gains come as the shipping giant braces for peak-season impact.
Air Canada sees a business opportunity flying all-cargo planes for e-commerce companies.
Radiant Logistics uses cost savings to offset demand declines from COVID-19. The fiscal first quarter sees debt decline further as acquisitions remain on the table.
Air Canada revenues came in below expectations, but the company was able to cut costs to beat earnings expectations.
XPO is `very comfortable with where we are’ heading into 2021, Jacobs says.
One of the toughest obstacles for a new trucking company can be finding affordable insurance. Robert Haley, VP of Transportation for USI Insurance Services, and Pierre Laguerre, founder and CEO of Fleeting, discuss tips on risk mitigation for new carriers at FreightWaves LIVE @HOME.
The trans-Pacific capacity crunch continues. Container volume that’s either inbound to Los Angeles or stuck at anchorage is surging.
While some truckload carriers posted significantly better-than-expected results, most saw their shares sag as the bullish trucking trade cooled heading into the third-quarter earnings season.
Americold announces another large acquisition, a couple of expansion projects, and informs analysts and investors that the holidays haven’t been canceled.
FleetCor’s third-quarter revenue topped most Wall Street expectations for revenue at $580.8 million, while its earnings per share missed expectations by 46 cents.
Digital brokerage increased revenue, EBITDA
Business “rebounded dramatically” in the quarter, Jacobs says.
Euronav exec curses crude-tanker market (literally). Scorpio exec pitches product-tanker promise and throws shade at crude side.
Atlas Air rode the rising tide for air cargo to higher profits in the third quarter.
Sunnyvale, California-based Trimble Inc. is a provider of technology solutions for trucking companies, freight brokerages and third-party logistics providers.
Heartland Express raises driver pay 6% across the board and as high as 12% for some.
But margins made on those diesel sales were down from 2Q and last year
U.S.-listed carrier reveals the latest on trans-Pacific holiday rush, restocking, e-commerce spike and port congestion.
Logistics provider ArcBest is experiencing some of the strongest tonnage trends in the company’s history. The year-over-year comparisons turned positive in August and have continued to climb.
Expeditors sees drop in air, ocean moves but net income climbs
Cargojet’s record airfreight volume helped adjusted earnings double in the third quarter.
Landstar System announced that its CFO was stepping down immediately. President and CEO Jim Gattoni will act as the company’s CFO on an interim basis until a replacement is found.
Logistics provider ArcBest beats third-quarter expectations by 50%. Improved demand and cost management drive the result.
YRC Worldwide announced several changes in its third-quarter report. The biggest was that the carrier has already accessed CARES Act relief money to replenish its fleet.
YRC Worldwide announced that it has accessed the first $75 million of the second tranche of the CARES Act loan it received in July. These funds are to be allocated for upgrades to the fleet.
Flatbed carrier Daseke Inc. cruises past third-quarter forecasts. Operations are likely to improve again in 2021 but high-margin third-quarter project freight could create some tough comparisons.
Ocean Network Express is cautious in its full-year forecast as “future cargo demand is very uncertain” while the COVID-19 pandemic wages on.
Universal Logistics credits its turnaround to the resurgence of the North American automotive industry, particularly in the light-truck and SUV markets.
USA Truck’s third-quarter performance was something management had been foreshadowing for the last few quarters. They were adamant that earnings would improve if the market would cooperate.
CFO Col: ‘We’re not upset when we have to use it’
Several key metrics in LTL operations show downturn from last year
Flatbed carrier Daseke Inc. posted a third-quarter result that highlighted the company’s restructuring efforts and easily surpassed analysts’ expectations.
Olsavsky says transport spending is in a multiyear ramp-up as the company posts solid third-quarter results.
Hub Group sees a strong demand environment continuing as most of its customers are operating with lean inventories. The company expects tight freight fundamentals to create a favorable rate environment in 2021.
Air Transport Services Group’s freighter leases offset financial losses from its grounded passenger planes.
Universal Logistics reported revenue of $365 million during the third-quarter, a 2.8% decrease compared to the same period last year.
Sales of used vehicles set a record, up by two-thirds from a year ago and 40% sequentially
The e-commerce retail and logistics giant’s bottom line is healthier than ever.
The strength in truckload fundamentals didn’t really show in Schneider National’s third-quarter report. Lower revenue per truck, intermodal rail congestion and brokerage malaise overshadowed the announcement of a $2 special dividend.
Wex said global uncertainty around COVID-19 affected its fuel card payment processing and corporate travel segments during the third quarter.
The future for the Shopify Fulfillment Network could involve highly automated warehouses with robots in different parts of the world, says CEO Tobi Lutke.
Operating income up 21.7% while revenue up just 2.7%; performance far better than Wall Street forecasts
Schneider National announces a $2 special dividend answering the mounting questions around the carrier’s future cash deployment. After the $355 million payment, the company still has ample cash to pursue other initiatives.
Kirby tops earnings expectations on lower costs despite COVID and hurricane hits to demand.
Danish third-party logistics services provider’s bottom-line benefits from easing COVID-19 during summer months.
Canadian e-commerce company Shopify grows profits and revenue in third quarter as COVID-19 accelerates move from mortar to online shopping.
Prologis Inc. announces the completion of the largest-ever portfolio sale of logistics warehouses in the U.K.
Werner Enterprises sees the current tightness in the truck market continuing into 2021 as inventory restocking will take multiple quarters to accomplish and drivers are in short supply.
The railroad will be idling rail yards around Atlanta and will cease humping operations at its Macon, Georgia, yard.
In third-quarter 2020 financial and operational results released after trading ended on Wednesday afternoon, Chicago-based third-party logistics provider Echo Global Logistics (NASDAQ: ECHO) reported record gross revenues, which grew by 23.2% year-over-year to $691.5 million. That smashed the consensus estimate of $608 million and was $76.5 million more than the upper limit of guidance provided […]
Werner Enterprises’ third-quarter result comes in ahead of analysts’ forecasts.
Higher U.S. operating costs take center stage in discussion of company’s outlook.
Orbcomm Inc. reported a loss of $5.5M in its third quarter and a net loss of $0.07 per share. The company had revenue of $61.7M for the quarter.
In quarterly earnings report, company reports decline in revenue but big jump in net income
The Eastern U.S. railroad reported an adjusted net income of $643 million in the third quarter of 2020, compared with $657 million a year ago.
Revenue climbs to more than $21 billion, a near 16% gain.
Revenue and earnings beat estimates; improved OR might not stick but there are broader goals at the company
Managing for yield, Robinson shuns truckload volume growth to take a double-digit price increase.
Less-than-truckload carrier Old Dominion looks to build on its record third-quarter operating ratio in what it expects will be a “robust” 2021.
Less-than-truckload (LTL) carrier Old Dominion sets a new operating record on its way to a 19-cents–per-share third-quarter earnings beat.
Company had forecast an OR in the low 90s and got there; tractors reduced but Parker says it’s part of the plan
Deutsche Bank’s geofencing data shows less-than-truckload terminal activity at XPO accelerated during the third quarter while other carriers saw moderation.
Hong Kong-based container carrier moves 1.94 million TEUs during the third quarter of 2020.
The railcar manufacturer sees mid-2021 as a possible time frame for a post-coronavirus economic recovery for the rail industry.
The railcar lessor has developed a new strategy that will focus on providing rail-related services and products as part of a broader effort to boost its profitability.
UP expects longer and heavier trains in its future as it seeks to take more intermodal market share away from trucks.
OR improved for the company; on analyst call, Fuller says there will be bumps in the road on the way to a new operating model.
Supply chain solutions technology provider Manhattan Associates sees favorable long-term tailwinds as multichannel retail delivery expands.
TFI International reports a large jump in Q3 profits as strong performance from e-commerce heavy-logistics business and wage subsidies make up for weakness in truckload and LTL.
Q3 performance contrasts with loss in corresponding quarter last year
