After the Great Shopping Spree of 2021, tens of thousands of truck companies will have to shut down to restabilize the industry.
Werner Enterprises reported a worse-than-expected result for the third quarter as margins in both its trucking and logistics segments deteriorated from the second quarter.
3PL C.H. Robinson had a weak third quarter, as expected, but the late trading in its stock liked what it heard.
Supply chain technology provider Trimble posted impressive Q3 results but said transportation revenue could slow down in the next quarter.
As large e-commerce businesses have raised consumer expectations, midsize and smaller logistics companies must keep up and provide the same on-time delivery, visibility and experience. When something goes wrong — and it often does — they must figure out how to adjust quickly by leveraging data from their supply chain.
As the industry recovers, keeping a “do more with less” mindset can enhance a company’s growth and help it prepare for the next downturn.
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Omni Logistics is asking a Delaware court to make Forward Air close on a planned merger between the two companies.
Truck drivers are pressing regulators to require brokers to pay them for time lost waiting to pick up or drop off loads.
Forward Air will primarily focus on less-than-truckload opportunities moving forward as it tries to exit a burdensome merger agreement.
Voltera is removing obstacles to electrification for fleets by reducing the risks of developing and operating charging sites.
FreightWaves’ F3: Future of Freight Festival is next week. Here are some of the companies that will be coming.
XPO Executive Chairman Brad Jacobs is the featured keynote speaker for this year’s F3: Future of Freight Festival, hosted by FreightWaves, in Chattanooga, Tennessee.
Electric trucks are expensive, so Mack Trucks figures avoiders might go for a monthly subscription fee and pay by the mile.
Forward Air said it would accelerate a strategic review of its assets after missing third-quarter consensus and providing a weaker-than-expected fourth-quarter outlook.
FreightWaves CEO Fuller talks Convoy collapse and why things aren’t improving for carriers.
Third-quarter earnings reports show how Yellow Corp.’s market share was redistributed across the less-than-truckload industry.
Tough freight market hits Echo’s debt ratings, down a notch at S&P.
XPO said Monday it plans to increase capital spending to respond to a tightening capacity dynamic following Yellow’s closure.
A source wonders if UPS’ new offering is a reconstituted version of an earlier stab at quick delivery.
Car hauler Jack Cooper Transport has been rumored to be behind a bid for Yellow Corp. just four years removed from its own bankruptcy.
XPO reported a third-quarter-earnings beat on Monday as fallout from a competitor’s closure overshadowed a soft macroeconomic environment.
Natural gas has long been a bit player in a diesel-driven engine world. That may change with Cummins’ beefier 15-liter offering.
This week in Borderlands: The U.S. mulls terminating a tomato trade agreement with Mexico; Walmart opens a fulfillment center near Dallas; Saddle Creek Logistics is opening a distribution center in Arizona; and layoffs hit GulfMark Energy’s operations in Texas.
ArcBest’s less-than-truckload operation saw a meaningful step up in profitability in the third quarter as it remains selective on market share opportunities.
A threat to Mack Trucks’ primary business exists as long as brinksmanship with the striking UAW continues.
A bankruptcy judge said Friday that Yellow Corp. can move forward with a plan to use liquidators to dispose of rolling stock.
Saia posted across-the-board gains but its operating ratio worsened as it absorbed higher-than-expected costs.
Universal Logistics Holdings released its third-quarter financial results on Friday, reporting year-over-year decreases in its trucking, intermodal and brokerage segments.
Echo Global Logistics leverages a variety of intelligence capabilities to provide shippers and carriers with solutions that meet them where they are in their technology adoption journeys.
After 12 years at the helm of the freight brokerages he founded and bootstrapped in 2011 — SEL Supply Chain Solutions (SELSCS) of Fort Worth, Texas — CEO Dennis Martin says he is winding down operations.
A review of the state of SPAC-sponsored and other electrification startup shows a less-than-pretty picture.
Augmenting a carrier staff with state and federal regulatory experts can help an organization exceed the minimum recordkeeping requirements, which can reduce the risk of a negligent hiring claim.
Because of the freight boom in recent years, many smaller carriers, especially those that were new entrants to the industry, fell into unsafe practices.
ArcBest reports a third-quarter earnings beat when adjusting for several one-off items.
Hub Group reported $1 billion in revenue and earnings per share of 97 cents during the third quarter.
Amazon’s EPS handily beat estimates, while operating and net income posted four- and three-bagger gains.
A new federal labor standard opens up trucking companies to a wider range of costly employee liabilities, according to a legal expert.
Heartland Express books a third-quarter net loss and makes changes to cull unprofitable accounts.
Truckload carrier Covenant Logistics Group said the freight market is bottoming out, and the company is eyeing only a “modest decline” in earnings next quarter.
While indications of a freight market shift are heartening for carriers, their strongest impacts will not be seen until well after the conclusion of the next bid season.
UPS’ third-quarter results reflect struggles with macro weakness, volume diversions and higher labor costs.
Forward Air may decide to terminate its merger agreement with Omni Logistics even though a Tennessee court said it won’t stand in its way.
North American manufacturing and retailers have been focused on moving their operations out of China — and closer to home — over the past few years.
Freight broker and carrier agents at PFQ Companies — carriers Pioneer Transport, Falcon Transport, Quaker Transport and brokerage Quaker Transportation — are thriving, having built businesses able to withstand market highs and lows.
Chattanooga, Tennessee-based Covenant Logistics Group’s third-quarter revenue declined 7% year over year to $288.7 million.
Inflation, higher cargo volumes and diesel prices fueled a spike in congestion costs for trucking companies, according to new data from ATRI.
Freight broker Landstar System told analysts on a Thursday call that it expects the current freight downturn to last eight quarters, not six as previously hoped.
UPS said it hopes to scale service to as many locations as possible by year’s end.
Rush Enterprises experienced softer Class 8 aftermarket revenue at its dealership network, but it had other business to replace it in Q3.
Truck leasing giant Ryder posted total revenue of $2.9 billion and earnings per share of $3.58 during the third quarter.
Old Dominion sees a 6% uptick in shipments following Yellow’s closure but says the industry’s freight reshuffle hasn’t been permanently settled.
Electric vehicle manufacturing efforts have been marching south. In fact, EV manufacturing investments in the Southeast alone reached $54.6 billion in 2022 –– a 128% year-over-year increase, according to the Southern Alliance for Clean Energy.
Wabash’s reorganization is continuing to pay off as service revenue rises as trailer sales fall amid improved profits.
UPS has set holiday shipping deadlines for deliveries on Dec. 23 or earlier.
Consistent with its rivals, Traton sees orders slowing but strong deliveries across its brands including Navistar.
Convoy Inc. has found a buyer for its tech stack, which would include the digital freight company’s driver app and automated freight matching and pricing engines.
Old Dominion Freight Line reported better-than-expected third-quarter results as Yellow’s departure provided a tailwind.
President and COO Webb Estes reviews restored functions, praises customers that stuck around.
Less-than-truckload carrier Saia will implement a 7.5% general rate increase in early December.
TFI’s overall third-quarter results reflect a weak macro environment.
Nikola Corp. has won $165 million in arbitration from convicted founder Trevor Milton, but it wants to recover attorney fees, too.
Edge continues to win new business on the back of a regional carrier strategy.
“When you see fleets double in size in a very short period of time, typically they haven’t grown on the inside as well as the outside, and that’s a very dangerous combination,” Reliance Partners’ Brian Runnels said.
Paccar Inc. posted record third-quarter net income and continued to build on a streak of beating analyst estimates.
Experts say Mexico must take big steps to capitalize on nearshoring by improving road security and freight infrastructure, while stabilizing the peso.
While logistics visibility platform provider Slync had hoped that new management and a $24 million cash infusion in February would be enough to save the FreightTech company after its former CEO was indicted on fraud charges, the company is proceeding with an alternative option to a traditional bankruptcy and plans to wind down operations and sell off its technology.
Coming on the heels of the hack against LTL carrier Estes, an industry meeting maps out ways to battle cyberattacks.
The decision to prioritize technology in a business so reliant on people to cover loads and deal with exceptions is poignant in the wake of the past week’s events.
Ryder System Inc. is acquiring contract manufacturing and packing company Impact Fulfillment Services in a deal involving operations in 15 states.
Averitt Express received the highest overall ranking, with Old Dominion Freight Line voted top national less-than-truckload carrier in a value and loyalty survey.
Convoy’s story, while tragic for investors and insiders, should prove cautionary for other founders.
This week in Borderlands: Cargo theft trends are changing as supply chains shift to border regions; a $65 million cold storage facility could be headed to Central Texas; Gebrüder Weiss opens a logistics operation in Laredo; and a truck driver is stopped at the border with $12 million in cocaine.
Less-than-truckload carrier XPO Inc. (NYSE: XPO) says it has launched an over-the-road operation for team drivers. Only existing teams can currently qualify for the program, which has not been formally announced but was posted earlier this week on LinkedIn, said Greenwich, Connecticut-based XPO. It is believed to be the brainchild of Dave Bates, who joined […]
Soy Transportation Coalition director says farmers diverting product from weak export market.
FMCSA’s latest crash data is a hopeful sign for safety as trucking regulators consider new rules to reduce deaths and injuries.
New economic demands from striking UAW employees at Mack Trucks brings a strong retort from the truck maker.
Can Hyliion pivot to make stationary generators the base of its business as it decides whether to pursue the Hypertruck ERX?
Knight-Swift Transportation beat lowered third-quarter expectations Thursday and said the market appears close to a tipping point.
Triumph Financial’s earnings saw a tighter EBITDA loss at TriumphPay and a largely flat average invoice price in its transportation factoring business.
The cross-border trucking industry is recovering from a migrant surge and Texas inspections, trade officials said.
Transfix has closed a $40 million Series F funding round during “one of the most challenging markets in freight history,” company officials said.
Prospective acquirers are looking at Convoy’s platform and engineering and product teams.
Digital brokerage Convoy is closing, with no buyer coming in to rescue its operations.
Pam Transportation Services sees truckload fundamentals weaken further during the third quarter.
The impacts of double brokering are felt by carriers and brokers alike, disrupting operations and causing financial and liability risks for everyone involved.
A third-generation family-owned trucking company and brokerage — Certified Freight Logistics, headquartered in Santa Maria, California — is ceasing operations on Saturday after 95 years, citing “falling freight rates and reduced volume.”
Proterra Inc. has extended the bankruptcy auction dates for its three electrification business units while it continues in business.
Nikola will replace battery packs in its electric trucks following several fires. The pack is a high-cost component.
Automaker Tesla’s plan to build a factory in Mexico could be delayed past 2025, CEO Elon Musk said Wednesday.
Industry could see more freight brokerage closures amid a changing financial climate.
Truckload carrier Marten saw its earnings fall from a year ago and detailed how much of that was caused by higher fuel prices.
Volvo Group reported strong third-quarter results but reported slowing orders as trucking demand returns to normal.
Digital brokerage Convoy has canceled all shipments and shut its load board, with an announcement of its future upcoming.
U.S. Rep. Doug LaMalfa, R-Calif., argues that a long-standing tax on new trucks is an inefficient way to sustain the ailing Highway Trust Fund.
Cass’ shipment data was up sequentially for a second straight month in September and the truckload linehaul index was positive for the first time in more than a year.
FreightTech company Flock Freight’s chief revenue officer has departed after eight months. The company also is cutting positions on its social and creative teams.
Lingong Machinery Group is investing $5 billion to build a plant and industrial park in northern Mexico
Activist investor Ancora said it will move to remove Forward Air’s board and CEO if a Tennessee court rules a shareholder vote on the Omi merger is warranted.
J.B. Hunt’s overall financial performance in the third quarter was weak, but slight strengthening in intermodal volumes was celebrated.
