Cold storage operator Americold expands its portfolio again, this time in a $1.74 billion bid for the world’s fourth-largest provider. Americold plans to offer 33 million common shares in total to facilitate the deal.
Data and commentary point to an earnings blowout for trucking companies in the third quarter with the likelihood of similar results in the fourth quarter. However, headwinds surrounding driver recruitment and retention present a hurdle to the rally.
The less-than-truckload industry continues to expand its footprint. Saia Inc. has added terminal capacity again, this time transitioning into a new 200-door terminal in Memphis, Tennessee.
Soaring demand and a lack of truck capacity have industry participants calling for double-digit rate increases in 2021. UBS transportation equities analyst Tom Wadewitz outlines his bullish call in a note to clients.
Forward Air announces another acquisition as it advances its no-wait growth plan. The Greeneville, Tennessee-based trucking company adds intermodal drayage provider Value Logistics to its roster.
TFI International’s acquisition spree continues. The Canadian transportation and logistics company adds another bulk carrier to its portfolio with the purchase of Grammer Dry Bulk.
Canadian trucking and logistics company Mullen Group announces the acquisition of customs warehouse operator International Warehousing and Distribution Inc.
Radiant Logistics achieves a couple of records during the recent quarter. Moving PPE and other aid paves the way to a large earnings beat.
Forward Air adds traditional LTL service to more of its facilities as carriers put more assets to work in the space.
U.S. Xpress’ industry forecast calls for the truckload market to experience high driver turnover, declining capacity and “overwhelming” volumes through 2021.
With many data points sitting at cycle highs, several industry participants are calling for the trucking market’s bull rally to last well into 2021.
Forward Air announces the addition of CLW Delivery to its last-mile network, continuing its acceleration of both inorganic and organic growth initiatives.
Radiant Logistics reports new revenue and earnings records in a fiscal fourth-quarter update. The company has delayed its annual filing and conference call with analysts, citing delays associated with the pandemic.
Landstar System raises earnings outlook on higher truck volumes and pricing improvements. New third-quarter expectations are 25% higher than the midpoint of the previous guidance range.
Tightening truckload and intermodal markets have carriers expecting the hot freight market to carry forward. One carrier is calling for large rate increases in 2021.
YRC Worldwide reported trends worse than its competitors for the first two months of the third quarter. Recent postings show the carrier is moving forward on its turnaround by rationalizing its terminal network.
Against the backdrop of a tough third quarter when key businesses posted losses, Navistar looks ahead to building electric trucks on the same assembly line with diesel models at a new plant in Texas.
ArcBest’s results for the first two months of the third quarter confirm recent positive updates provided by other less-than-truckload carriers.
Deutsche Bank’s Amit Mehrotra becomes increasingly bullish on the future of trucking. The analyst is forecasting earnings growth at the publicly traded carriers much higher than that of his peers.
The “less bad” trend may be over for less-than-truckload carriers. August updates from a couple of carriers show modest year-over-year improvement for the first time since April’s nadir.
