Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.
While the less-than-truckload market is experiencing a boom, it’s not without growing pains, according to Recon Logistics’ pricing and analytics expert Curtis Garrett.
Old Dominion Freight Line said Thursday it would add 800 drivers and more than 400 dockworkers and clerical personnel to meet “robust freight demand.”
Carrier Averitt Express said it was raising pay for its newly hired regional truckload and flatbed drivers. The company becomes the latest to increase driver pay as the industry struggles to seat tractors.
With the need for qualified drivers on the rise, less-than-truckload carrier Yellow Corp. announces plans to hire 1,500 drivers and open new academies in 12 locations across the country.
The Teamsters’ Central States Pension Fund could be saved through the COVID-19 relief package.
Logistics provider ArcBest reported better-than-expected results for the fourth quarter Tuesday. Less-than-truckload tonnage increased by double-digit percentages as weight per shipment jumped 10%.
ABF Freight head Tim Thorne announces his retirement after a 31-year career with the less-than-truckload carrier. ABF’s current VP of linehaul, Seth Runser, will become the carrier’s new president in July.
A congressional oversight report highlights flaws in the Defense Department’s designation of less-than-truckload carrier YRC Worldwide as a company vital to national security.
Sell-side research analysts have made their bets on trucking in 2021. Some believe a continuation in consumer spending and inventory restocking will benefit truckload carriers while others see less-than-truckload carriers gaining traction as the industrial economy advances.
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.”
A commission hearing regarding concerns over CARES Act loans made to businesses “critical to maintaining national security” will likely shed more light on the rationale behind the $700 million Treasury loan to YRC.
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.
Uncertainty will be the challenge to overcome as 2020 comes to a close. DDC’s Donna Kintop suggests carriers pay close attention to rising freight volumes, the ongoing pandemic and political tensions both domestic and abroad.
Deutsche Bank’s geofencing data shows less-than-truckload terminal activity at XPO accelerated during the third quarter while other carriers saw moderation.
Shared truckload offers shippers the opportunity to utilize truckload services to deliver partial shipments – without leaving part of the trailer empty.
In today’s edition of The Daily Dash, the third-quarter financial report from BMO suggests positive financial momentum for carriers, and a Tennessee freight brokerage continues record growth despite the COVID-19 pandemic.
DDC’s Chad Crotty recommends carriers take a managed approach between tech integration and applying practical knowledge as a workforce planning strategy.
Possible fines range from $13,000 to $130,000.
Volumes are on the rise again. DDC’s Chad Crotty details what carriers should be doing to keep pace with the recovery.
