Covenant Transport

Los recorridos en Texas con camiones supervisados para el gigante de las flotas comienzan esta semana

Schneider is joining fleets testing highway autonomy, starting commercial pilots in supervised Aurora Innovation trucks this week.

In its third deal this year, autonomous driving provider Aurora has an agreement with Covenant to “explore ways to optimize” long-haul operations.

Covenant Logistics Group said revenue for the second half of 2022 could be impacted by wage pressures and higher equipment and over-the-road repair costs.

If the remaining companies also settle, questions of whether there was a conspiracy not to hire drivers who owed money to previous employers may never be answered.

On this episode of Net-Zero Carbon, Danny Gomez and Tyler Cole talk about how company executives can better communicate sustainability goals.

Covenant believes government incentives are vital in helping the trucking industry meet zero-emission goals.

As first quarter earnings continue to be announced, FreightWaves takes a look at how truckload and LTL carriers stack up.

In today’s edition of The Daily Dash, we explore the relationship between TFI International and the unionized LTL carrier UPS Freight. Plus, earnings have started in earnest and so far, so good.

In today’s edition of The Daily Dash, an activist investor speaks about what changes Forward Air should make. Plus, FedEx Ground is losing a key executive and why UPS Freight was no longer a strategic fit for UPS.

The Triumph acquisition of TFS has had plenty of problems since it was first announced.

A couple more truckload carriers have announced pay increases for drivers ahead of the new year. Beacon Transport and Bay and Bay Transportation are the latest.

Schneider National announces a per-mile pay increase of 4 cents for most drivers beginning in late January. Earlier this year, the company announced an increase in team driver pay.

In today’s edition of The Daily Dash, it’s been one year since the collapse of Celadon, and FreightWaves talks to some former drivers. Plus, Estes has been hit with a COVID-related lawsuit and Covenant is bumping up driver pay.

Average rate for team drivers up by 9 cents per mile, company says

Company had forecast an OR in the low 90s and got there; tractors reduced but Parker says it’s part of the plan

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.

Covenant also announces it reached agreement with Triumph over sale of TFS factoring unit

Truckload carrier also sees strong third quarter

Slower-going legacy companies try to figure out what exactly the path to the green transportation future is going to look like.

In today’s edition of The Daily Dash, Amazon is looking at how it might utilize mall space and Convoy unveils some big deals for carriers. Plus, a major deal between Covenant and Triumph hits a wall.

Fleet size down by 10%; cutback in other costs highlighted company’s performance.

Sale of TFS hits a dispute over status of more than half the assets in the deal

TFS being sold for more than $100 million, other considerations

Citing economic challenges tied to the coronavirus pandemic, as well as the need to focus resources toward targeted business units, Southern Refrigerated Transport (SRT), a solo-driven reefer subsidiary of  the Covenant Transportation Group (NASDAQ: CVTI), said it will shut down its terminal and headquarters in Texarkana, Arkansas, according to an internal memo obtained by FreightWaves. […]

This is part of our ongoing weekly feature called the “Online Haul of Fame.”  FreightWaves will feature companies that have had a lasting impact on the trucking industry, past or present. Check out the Online Haul of Fame series posted each Friday on FreightWaves.  M.S. Carriers was founded in Memphis, Tennessee by Michael Starnes in […]

Covenant Transportation’s Joey Hogan and Jet Express’ Kevin Burch talk capacity, insurance, trucking’s image and a lot more in wide-ranging discussion at ACT Research event.

This week Dooner and Hill are talking all about the funnel, the pipeline, the place where closers play. But what goes into making a good funnel? Leads, discipline, management, constant touch, and smart selling are all discussed. The guys are joined by Covenant Transports Vice President Benjamin Caplenor to talk carrier sales funnels. Plus, a […]

Covenant Transportation continues to reallocate equipment to units with a lower risk profile like dedicated.

Operation Victory credits military service time as full or partial truck driving experience.

As two large companies in the freight industry announced they were eliminating or scaling back trucking services in Mexico last week, industry insiders say cross-border trade will continue to expand. The key for shippers and carriers will be figuring out how they are going to tackle the market in the near future, said Jesus Alvarez, […]

Covenant Transport has decided to end all service to the interior of Mexico, citing dropping spot market pricing, increasing detention times and an inability to gain the freight density needed to balance costs. “After five years servicing the interior of Mexico, Covenant Transport Services will, in coming months, end our Mexico service offering,” said Andy […]

The bulls are coming out in support of truckload carriers, kind of. Several equity analysts are using a recent positive inflection in TL volumes, a belief that fundamentals aren’t getting materially worse, and attractive valuation multiples to become more positive on the stocks.

Three young executives have taken on new roles at Chattanooga-based Covenant Transport Services. The promotions, effective last month, set the trio up to take on new responsibilities as enterprise-wide leaders.

As the transportation industry adapts to a digital world, owner-operators to large fleets are all grappling with how to adopt new technology. “There are more technology choices than ever. Bob’s trucking, Sue’s trucking, Mario’s trucking are hearing from nine million different sources, trying to sort that out,” said industry consultant Randy Mullett of Mullett Strategies […]

Port container volumes, railroad volumes, and truckload volumes are all down year-over-year.

After posting record earnings for the fourth quarter of 2018, the company is expecting its first quarter earnings to take a hit from lowered demand in the early months of 2019.

Investors may be starting to come around to the idea that truckload carriers have another year of strong margins ahead of them.

The numbers that have come out so far are showing few signs that there had been a significant fourth quarter slowdown.

Covenant Transport (NASDAQ: CVTI) reported record revenue in the fourth quarter, beating analyst projections by $10.72 million. The company announced $272.3 million in total revenue, a 33.9% increase compared to the fourth quarter of 2017.

Everyone knew the quarter was weaker than it had been. The question is how much. Stock prices have reflected a significant slowdown.

The mobility and freight business community of Chattanooga is starting to think strategically about growing the industry.

CEO David Parker expects very strong demand in Q4 and Covenant to shift further to dedicated capacity in 2019 in an effort to “get deeper into the supply chain.”

We visualized the performance metrics of the publicly-traded truckload carriers over the past six quarters, using TCA InGauge’s data.