Universal Logistics Holdings released its third-quarter financial results on Friday, reporting year-over-year decreases in its trucking, intermodal and brokerage segments.
After 12 years at the helm of the freight brokerages he founded and bootstrapped in 2011 — SEL Supply Chain Solutions (SELSCS) of Fort Worth, Texas — CEO Dennis Martin says he is winding down operations.
Hub Group reported $1 billion in revenue and earnings per share of 97 cents during the third quarter.
Truckload carrier Covenant Logistics Group said the freight market is bottoming out, and the company is eyeing only a “modest decline” in earnings next quarter.
While indications of a freight market shift are heartening for carriers, their strongest impacts will not be seen until well after the conclusion of the next bid season.
On Wednesday the American Transportation Research Institute (ATRI) released its latest Cost of Congestion study showing U.S. highway traffic congestion added $94.6 billion in costs to the trucking industry.
North American manufacturing and retailers have been focused on moving their operations out of China — and closer to home — over the past few years.
Chattanooga, Tennessee-based Covenant Logistics Group’s third-quarter revenue declined 7% year over year to $288.7 million.
Truck leasing giant Ryder posted total revenue of $2.9 billion and earnings per share of $3.58 during the third quarter.
While logistics visibility platform provider Slync had hoped that new management and a $24 million cash infusion in February would be enough to save the FreightTech company after its former CEO was indicted on fraud charges, the company is proceeding with an alternative option to a traditional bankruptcy and plans to wind down operations and sell off its technology.
This week in Borderlands: Cargo theft trends are changing as supply chains shift to border regions; a $65 million cold storage facility could be headed to Central Texas; Gebrüder Weiss opens a logistics operation in Laredo; and a truck driver is stopped at the border with $12 million in cocaine.
Deputy Editor Brielle Jaekel and 3PL expert Mary O’Connell tell stories of haunted highways to celebrate Halloween on the latest episode of Tracks Through Time.
The cross-border trucking industry is recovering from a migrant surge and Texas inspections, trade officials said.
Transfix has closed a $40 million Series F funding round during “one of the most challenging markets in freight history,” company officials said.
Seattle-based digital freight broker Convoy on Wednesday canceled all shipments from its marketplace and company representatives promised more details of a business transition were forthcoming. By Thursday, company employees were told in a meeting that Convoy was “closing down its core business operations.”
Automaker Tesla’s plan to build a factory in Mexico could be delayed past 2025, CEO Elon Musk said Wednesday.
Lingong Machinery Group is investing $5 billion to build a plant and industrial park in northern Mexico
New technologies are hitting the market daily, and these tools are capable of improving everything from driver selection to litigation outcomes.
With over two decades of experience in logistics, Regan Daniels’ evolution is a story of adaptability and a pursuit of efficiency.
This week in Borderlands: Mexico remains top US trade partner in August, Laredo No. 1 gateway; Eden Green begins $40M vertical farming expansion near Dallas; Production, exports of Mexican-built trucks fall for second straight month; and Port of Brownsville receives $11.5M to overhaul cargo dock.
