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.”
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.
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.
Landstar System inches its fourth-quarter expectations higher but cautions that this trucking cycle may not be different from those in the past.
Startup electric driveline maker Hyliion Holdings Corp. decided against booking $1 million in revenue during its first quarter as a public company when it lost $9.1 million.
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.
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.
Electric delivery van maker Workhorse Group draws tough questions from analysts following battery supply issue and lack of deliveries to UPS.
Workhorse Group said 36% of its production staff is sidelined by the COVID-19 virus or awaiting test results. The company ditched its projection of building 300-400 electric delivery vans by the end of the year and badly undershot Q3 sales and earnings projections.
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.
Wabash National saw a 37% surge in its backlog of trailers to build from the second to the third quarter as record orders piled in. Third-quarter margins declined but the trailer and last-mile equipment builder was profitable.
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.
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.
