Truckload Carriers

J.B. Hunt Transport Services beat third-quarter expectations as it awaits a turn in the freight market.

J.B. Hunt Transport Services reported a better-than-expected result for the 2024 third quarter on Tuesday after the market closed.

Continued volume weakness along with a steadying rate environment were the primary takeaways from Cass Information Systems’ September report.

NFI CEO Sidney Brown has filed a motion asking a judge to dismiss his criminal indictment stemming from a New Jersey real estate dispute.

There was no change in transportation capacity during September. That, coupled with further growth in pricing, signals the freight market may finally be climbing out of a prolonged downturn, a survey of supply chain executives showed.

NFI CEO Sidney Brown and other defendants in the criminal case related to the Camden, New Jersey, waterfront redevelopment have moved for dismissal.

Freight factoring platform Outgo said a recent $15 million funding round has allowed it to ramp funding speeds to carriers.

Marten Transport cited the weak freight market in reducing the salaries of six top executives. The executives’ 2023 salaries ranged from $267,000 to about $811,000.

Canadian supply chain SaaS provider Descartes acquired MyCarrierPortal, which provides brokers and shippers with carrier onboarding and risk monitoring tools.

RXO announced Monday that it has completed the acquisition of freight broker Coyote Logistics.

Cass Information Systems’ August update shows a freight market that is still awaiting a recovery.

Executives at some of the nation’s top truckload carriers say it’s still too soon to know when the market will turn.

The Texas Supreme Court will hear an appeal by Werner Enterprises in a long-running, $100 million nuclear verdict case.

The August Logistics Managers’ Index showed transportation capacity increased notably while pricing growth slowed.

Kenan Advantage Group has acquired Louisiana-based tanker trucking company TransVac for an undisclosed sum.

BRW has been created through an acquisition as a combined brokerage and truckload and LTL carrier.

Data from Cass Information Systems showed year-over-year declines in volumes and costs slowed in July.

J.B. Hunt and autonomous truck maker Kodiak Robotics have executed more than 50,000 accident-free miles on a long-haul lane between Bridgestone facilities.

The CEO of truckload carrier NFI pleaded not guilty in a New Jersey political corruption case.

The July Logistics Managers’ Index points to a freight market recovery, a Tuesday report showed.

Freight broker Landstar System shared some signs of market stabilization with analysts on a Tuesday call but said it’s still too soon to say the market has turned.

The CEO of Werner Enterprises says an inflection point in the freight market might be near.

Broker Landstar System beat second-quarter estimates Tuesday as the period ended a two-year streak of sequential revenue declines.

Werner Enterprises saw revenue and earnings per share drop in the second quarter.

Love’s said Monday it has acquired the U.S. transportation factoring portfolio from REV Capital.

Truckload carrier Pam Transportation Services lost money again in the second quarter but said it saw signs of an improving freight market as the quarter closed.

Knight-Swift Transportation said the trough of the freight cycle has likely passed and that it is now focused on growing its less-than-truckload business.

Truckload carrier Heartland Express reported another quarterly net loss on Tuesday and said improvement in the freight market will not likely occur until 2025.

Marten’s second-quarter earnings deteriorated, but it said it hasn’t cut contract rates since August.

Western Express shared some of its safety strategies at FreightWaves’ Enterprise Fleet Summit on Wednesday.

J.B. Hunt missed second-quarter expectations Tuesday as soft freight demand and costs associated with carrying the capacity needed to meet future demand weighed on the period.

J.B. Hunt missed second-quarter expectations as volumes remained weak across all modes, expenses remained elevated and intermodal yields declined.

Freight shipments and expenditures remained depressed in June, Monday data from Cass Information Systems showed.

NFI CEO Sidney Brown was not at the arraignment of his co-defendants in a New Jersey corruption case due to a lawyer conflict.

Werner/ECM is moving toward a union contract in New Jersey, but the stakes may be higher in its union battle in Erie, Pennsylvania.

The June Logistics Managers’ Index captures no growth in transportation capacity for the first time since March 2022.

Proficient Auto Logistics, a newly formed publicly traded auto carrier, issued its first-ever earnings.

TFI International has acquired food-grade tank hauler Entreposage Marco for an undisclosed sum.

This week: Verified Carrier discusses its unique way of vetting carriers, Vecna Robotics closes its Series C, Truckstop vets industry pets and Nvidia has a new offering for industry tech providers.

NFI CEO Sidney Brown has been indicted as part of the broader “Norcross case” that may shake up New Jersey politics.

Shipments and cost data for May show no letup in the freight downcycle.

C.H. Robinson has joined the TriumphPay Network, a freight payments platform connecting brokers, shippers and carriers.

Truckload carrier Werner Enterprises’ CEO noted some reasons for optimism at an investor conference.

Former FreightWaves analyst turned hedge fund manager Seth Holm shared his outlook for transportation stocks at Future of Supply Chain on Wednesday.

Transfix is selling its brokerage business to supply chain services provider NFI.

Broker FLS Transportation announced it has acquired Anderson Transportation and Logistics, which brings flatbed brokerage expertise to the platform.

Supply chain managers indicated higher transportation pricing in May but also noted that capacity continues to grow.

A couple of truckload carriers provide an update on recent trends following a slew of poor first-quarter reports.

Another large trucking company has asked federal regulators to relax its permitting rules to get drivers in seats faster.

April data from freight payments platform Cass shows freight demand remains near cycle lows.

A monthly supply chain survey shows a reversal in transportation metrics during April but points to improvement on the horizon.

Schneider National cut full-year earnings guidance by 25% but said contractual truckload pricing turned positive in the first quarter.

Werner Enterprises missed first-quarter expectations Tuesday and lowered some components of its 2024 outlook.

Truckload carrier Pam is running a Dutch auction to buy back its shares, which soared on the news.

Broker Landstar System’s first quarter showed the year-over-year declines are lessening while the trucking industry awaits an inflection to a prolonged freight recession.

Knight-Swift Transportation said Wednesday it will cut costs and focus the bulk of its investments away from truckload-related offerings in the near-term.

Heartland Express said Tuesday weak freight fundamentals led to another net loss during the first quarter.

Marten is the latest trucking company to report earnings that reflect the weak trucking market.

Pam Transportation Services joined other carriers Thursday, reporting a poor start to 2024.

Knight-Swift Transportation cuts its first-half forecast one day after a notable earnings miss from J.B. Hunt Transport Services.

J.B. Hunt Transport Services’ first-quarter earnings miss sent shares 6% lower in after-hours trading on Tuesday.

March provides little relief from the freight downturn, contrary to what carriers had hoped.

First-quarter earnings estimates for truckload carriers have been reeled in again as the industry awaits a meaningful turn in the cycle.

Bulk hauler Trimac announced the acquisition of North Carolina-based Feldspar Trucking, which hauls materials used for glass and ceramics production.

A prolonged period of elevated expenses has some fleets harnessing the power of the sun to mitigate the impact.

Broker Landstar System has added two top sales positions following its CEO transition.

PS Logistics announced the acquisition of flatbed fleet Yordy Transport on Monday.

Data compiled in the Cass Freight Index shows the freight market continued to hover near cycle lows in February.

Truckstop’s Brent Hutto shared his view of the truckload market on Wednesday at FreightWaves’ 3PL Summit.

A director at Werner Enterprises has resigned over several disputes, including one over the truckload carrier’s environmental, social and governance policies.

Transportation prices grew for a second straight month in February, according to the Logistics Managers’ Index, but couldn’t keep pace with capacity.

J.B. Hunt President Shelley Simpson becomes CEO on July 1, succeeding John H. Roberts III.

The Texas Supreme Court has set a March 6 deadline for any parties that want to weigh in on the $90 million verdict against Werner Enterprises.

Rising insurance costs, which were flagged by most carriers on fourth-quarter calls, present a headwind to earnings, Morgan Stanley said Tuesday.

Knight-Swift Transportation said Tuesday its president and CEO, Dave Jackson, has stepped down and will be replaced internally with CFO Adam Miller.

Spot market metrics saw a brief reprieve in January as winter storms sidelined capacity, but carriers say the market will likely stay depressed for at least a couple more months.

Cass freight data for January shows continued weakness, but the month included harsher-than-normal winter weather.

Liquid bulk hauler Kenan Advantage Group announced it has entered the dry bulk space with the acquisition of Northern Dry Bulk.

XPO’s fourth quarter exceeded expectations, and the company provided robust pricing guidance for 2024.

Werner Enterprises saw another step down in operations during the fourth quarter.

The Logistics Managers’ Index for January showed transportation prices are increasing as retailers take on inventory.

Pam Transportation Services contends with an auto strike in addition to already depressed truckload demand during the fourth quarter.

Landstar System said Thursday that a recovery won’t likely occur until summer.

Schneider National reported a fourth-quarter earnings miss and a worse-than-expected 2024 outlook on Thursday.

Truck broker Landstar is seeing normal seasonally weak trends so far in January, which is worse than what analysts were hoping for.

Heartland Express’ fourth quarter benefited from large gains from terminal sales, without which the truckload carrier would have seen another loss.

Marten Transport reported net fourth-quarter income that was more than 50% lower than a year ago.

Knight-Swift Transportation reported a big fourth-quarter miss on Thursday, but management has hopes normal seasonality will return by spring.

PS Logistics announced its second deal of the year, acquiring the flatbed operation of North Carolina-based ELS.

Equities analysts have trimmed fourth-quarter truckload estimates again after the industry limped through the final days of the year.

December data from Cass Information Systems shows further rate stabilization, albeit at depressed levels.

Werner Enterprises said Wednesday that Nathan Meisgeier, its chief legal officer, has also assumed the role of president of the company.

New CEO must reverse long-term stagnation in shareholder value.

PS Logistics’ latest acquisition adds several hundred trucks to its Southeast operations.

Morgan Stanley told investors on Monday that a rebound in freight demand may happen sooner than many are expecting as inventories need to be rebuilt.

Truckload carrier Prime is moving into the hopper business and took to YouTube to announce its expansion.

C.H. Robinson’s newly created office to support its strategic initiatives is a key step in CEO Dave Bozeman’s plan to revive the struggling brokerage giant.

The Logistics Managers’ Index report showed transportation metrics worsened again in December but noted recent inventory cuts could put the freight cycle back on track in 2024.

2023 brought two large truckload acquisitions, several less-than-truckload carriers picking through a bankrupt carrier’s assets and no resolution to a $3.2 billion merger attempt, among other transactions.

TFI International entered an agreement to acquire flatbed carrier Daseke and said it’s exploring a spinoff of its truckload business.