Forward Air sees near-20% tonnage decline in November
Asset-light less-than-truckload provider Forward Air sees tonnage fall off sharply in November.
Asset-light less-than-truckload provider Forward Air sees tonnage fall off sharply in November.
Descartes said demand for supply chain visibility tools remains strong amid uncertainty in the broader economy.
Less-than-truckload tonnage declined at an accelerated pace through November.
The deceleration in less-than-truckload tonnage during the fourth quarter is worse than analysts expected.
Less-than-truckload demand has taken another step lower, according to carriers attending the Stephens investor conference.
Radiant Logistics said Wednesday it needed more time to complete a restatement of financials and submit results to the SEC.
Flatbed hauler Daseke said its trucks remain “booked solid” and that it will look to use cost and efficiency initiatives to improve results again in 2023.
The $3.3 billion acquisition of Meritor Inc. took a bite out of Cummins’ Q3 earnings as did underperforming joint ventures in China.
Nikola Corp. is laying off 7% of its workforce and slowing electric production because making more increases the loss.
Logistics real estate operator Link Logistics said “broad-based demand” further narrowed vacancy rates and produced record lease spreads in the third quarter.
Werner Enterprises has built a model to perform on the downside of the cycle. Management believes the carrier may be better positioned to do so than in the past.
Less-than-truckload carrier Yellow Corp. navigates second year of volume declines amid network overhaul.
Supply chain technology provider Trimble Inc.’s transportation revenue dropped 10% in the third quarter.
Heartland Express said recent fleet acquisitions will take three years to match the level of its legacy operations.
Forwarding income from operations was nearly cut in half and truckload prices to customers fell by double digits year over year.
TravelCenters of America Inc. announced Tuesday it topped $2.8 billion in revenue for the third quarter.
ArcBest beats expectations in a noisy third quarter. Tonnage declines and cost inflation during the fourth quarter will put the model to the test.
Truckload carriers prepare for the other side of the freight boom.
Less-than-truckload carrier Saia slightly missed third-quarter expectations and noted volumes softened as the quarter progressed.
XPO Logistics’ third-quarter results were at the high end of preannounced ranges. The fourth-quarter outlook calls for continued growth but with some cost pressures.