Radiant Logistics says freight market at or near bottom
Radiant Logistics is looking to deploy its unleveraged balance sheet on M&A.
Radiant Logistics is looking to deploy its unleveraged balance sheet on M&A.
Less-than-truckload carrier Old Dominion reported a large turnabout in operating trends during August.
Supply chain visibility provider Descartes leans on past acquisitions to grow through the downcycle.
ArcBest said Monday that shipments from its primary less-than-truckload customers have increased 20% since June.
Knight-Swift Transportation announced late Friday that its top two executives have taken a reduction in base pay amid other cost-cutting measures at the company.
Lightning eMotors has enough parts to build electric vehicles through the end of the year, but it needs new capital soon to stay in business.
Second-quarter cargo revenue at Air Canada fell 24% — not so bad in the context of global market conditions.
Electric bus and battery maker Proterra Inc. won’t fight an Aug. 17 delisting from the Nasdaq as it works on a bankruptcy reorganization plan.
Atlanta-based FleetCor Technologies reported fuel transaction revenue of $399 million in the second quarter, a 6% year-over-year increase.
Hyzon Motors is willing to consider selling itself or merging to keep making progress on its fuel cell system.
Asset sales in Q2 helped Nikola add cash to its balance sheet, but losses widened as ramp-up of fuel cell trucks consumed cash.
Supply chain technology provider Trimble posts impressive Q2 results and says truck spot rates may have “bottomed out.”
Less-than-truckload provider Forward Air missed second-quarter earnings expectations but management noted it’s seeing a lift from Yellow’s shutdown.
Like other trucking OEMs, Daimler Truck rode higher prices to solid second-quarter results while incoming orders fell.
Universal Logistics reported revenue of $413 million and earnings per share of 90 cents during the second quarter.
ArcBest reported an earnings miss Friday but that may not matter as its less-than-truckload unit is quickly taking on volume as a competitor winds down.
Hub Group reported $1 billion in revenue and earnings per share $1.44 during the second quarter.
Navistar saw a big drop in orders, but deliveries of new International trucks helped parent Traton to strong second-quarter results.
Rush Enterprises posted strong Q2 sales and profits, relying on its parts and services business amid trucking headwinds.
Old Dominion reported what will likely be best-in-class results for the second quarter and said recent turmoil at competitor Yellow Corp. hasn’t altered its strategy any.
Stock analysts size up less-than-truckload market dynamics following weeks of turmoil at carrier Yellow Corp.
Logistics real estate giant Prologis beat second-quarter estimates Tuesday but lowered its rent growth forecast for 2023 as the market cools from peak activity.
Earnings estimates for truckload and less-than-truckload carriers get a notable negative revision at Morgan Stanley.
Knight-Swift provided a second-quarter earnings warning on Wednesday while also confirming the closing of the U.S. Xpress acquisition.
Less-than-truckload provider Forward Air said Tuesday that demand momentum has improved as the second quarter has progressed.
Less-than-truckload carrier XPO reported another modest tonnage decline in May, which was in line with trends at Saia and much better than Old Dominion’s report.
Less-than-truckload carrier Saia reported second-quarter volume metrics on Friday that imply a high-single-digit sequential increase in tonnage from the first quarter.
Freight broker Landstar cut its second-quarter revenue and earnings guidance as volumes and revenue per load were worse than expected halfway through the period.
First-quarter financials were iffy and cash was tight, but Workhorse electric stepvan manufacturing made progress.
Radiant Logistics said it will continue to use free cash flow and potentially debt to fund share repurchases and acquisitions.
Daseke pulled in its full-year 2023 outlook on Tuesday as the freight market has failed to yield normal springtime demand improvements.
Less-than-truckload carrier XPO reported better-than-expected first-quarter results and said it remains on track to achieve long-term profitability targets.
Werner Enterprises reported first quarter revenue of $832.7 million, up 9% year over year compared to the same period last year.
Less-than-truckload carrier Yellow Corp. recorded a net loss during the first quarter as it attempts to overhaul its network.
Tech solutions firm Trimble reported $154.9 million in first-quarter transportation revenue amid a softening freight market.
U.S. truck engine maker Cummins on Tuesday reported first-quarter revenue of $8.5 billion, boosted by strong global demand for its products.
Forward Air noted some optimism in its lowered outlook on Tuesday, saying recent customer conversations have been promising.
Truckload carrier Heartland Express missed first-quarter expectations.
Universal Logistics Holdings saw revenue declines in its trucking, brokerage and intermodal segments in the first quarter.
Schneider National beat first-quarter expectations Thursday but lowered its full-year outlook as excess capacity lingers.
Freight broker Landstar System sees a big earnings falloff from the all-time high established a year ago.
Link Logistics maintained high occupancy and rent growth in the first quarter.
Paccar Inc. is taking a $600 million pretax charge against first-quarter earnings from settlements in a 2016 European price-fixing scandal.
Knight-Swift Transportation has recalibrated its 2023 outlook after posting an earnings miss to start the year.
Logistics real estate operator Prologis believes headwinds facing the supply side will prop up occupancy and rents into 2024.
Warehouse operator Prologis reported first-quarter results in line with expectations Tuesday.
Volvo posted unexpectedly strong preliminary sales and earnings in Q1, reversing a dour projection made just months ago. (Photo: Volvo Group)
Radiant Logistics said Monday it has completed a financial restatement process that resulted in very minor changes.
Forward Air said Tuesday that low-teens tonnage declines over the past few months have calmed in early March.
The Lordstown Motors Endurance electric pickup was delayed, subject to cost overruns and now faces a safety recall.
ArcBest’s first-quarter update bucks the less-than-truckload industry trend as tonnage increases and yields moderate.
Less-than-truckload carrier Old Dominion sees volumes drop again in February but notes the worst of it may be behind them.
Supply chain software provider Descartes sees retailers refilling shelves as 2023 progresses.
Workhorse Group is still cleaning up the mistakes of its recent past but is expressing optimism on 2023 production plans.
Hyliion Holdings is teaming up with financially struggling Hyzon Motors to develop a hydrogen-powered fuel cell version of its hybrid truck.
Nikola is still far from positive financial territory, but the integration of major components should help bring costs down.
Carrier Pam Transportation saw margin pressure in the fourth quarter as peak season didn’t materialize.
Radiant Logistics pushed back financial filings once again as it works to correct inaccurate timing of revenue and expenses in prior periods.
XPO’s growth strategy includes a wider net for capturing volume, but the less-than-truckload carrier is adamant it will remain price disciplined.
FleetCor Technologies beat Wall Street quarterly revenue and earnings estimates and offers a positive outlook for 2023.
XPO takes share in the fourth quarter, posting adjusted earnings ahead of consensus.
Glenn Ellis was named the first American-born president and chairman of the Japan-based U.S. unit of Hino Trucks.