XPO shares up on strong Q4 financial performance
Shares of less-than-truckload carrier XPO were up 9% in midday trading on Thursday following a fifth consecutive quarter of year-over-year margin improvement.
Stay Up to Date on the LTL Industry
Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL industry is cost efficiency. LTL trucking allows shippers to combine several loads going to the same facility into one truck, creating economies of scale, with each shipper only paying for the space they use. On the flip side, LTL shipping can take longer to plan and organize. Shipments may also take longer since the truck has to be filled before it leaves and may have to make multiple stops or transfers on the way to a given destination .
The explosion in online shopping sparked by the pandemic has made a marked impact on the LTL industry. As online shopping grows, demand for LTL trucking has increased significantly, putting stress on an already-burdened industry. To better understand the state of the LTL industry, we teamed up with BlueGrace Logistics to survey shippers about their approaches to LTL trucking in today’s environment.
Download our report to learn more: Evolution of LTL
Shares of less-than-truckload carrier XPO were up 9% in midday trading on Thursday following a fifth consecutive quarter of year-over-year margin improvement.
Less-than-truckload carrier XPO beat fourth-quarter earnings expectations Thursday before the market opened.
Old Dominion Freight Line is planning for a good 2025 back half and hasn’t given up on the first half yet.
Less-than-truckload carrier Old Dominion Freight Line beat fourth-quarter expectations Wednesday before the market opened.
Less-than-truckload carrier Saia is looking for opportunities to raise pricing across its larger network to levels commensurate with the rest of the market.
Less-than-truckload carrier Saia reported better-than-expected fourth-quarter results on Monday.
ArcBest’s fourth-quarter results were ahead of analysts’ expectations but reflect a sluggish demand environment.
Saia is turning to NASCAR as a new marketing platform, sponsoring a car from the Joe Gibbs Racing team.
ArcBest beat fourth-quarter expectations Friday but noted that continued industrial weakness is weighing on its results.
The project44 vs. My Carrier dispute over eBOL technology has reached a Delaware court, with both sides asking for injunctions.
Knight-Swift Transportation wants to see more proof the truckload market has turned before it raises its outlook.
Two purchase agreements for four of Yellow’s terminals were submitted to a federal bankruptcy court as a broader bid deadline nears.
Bankrupt Yellow Corp. has settled claims with two groups of employees who claim they were not properly notified ahead of mass layoffs in 2023.
Less-than-truckload carrier Pitt Ohio said it will offer direct service from Cincinnati to six cross-border locations in Texas.
An entity owned by the family that owns car hauler Jack Cooper has acquired Standard Forwarding.
ArcBest announced changes to its leadership team on Thursday.
The less-than-truckload industry needs an uptick in demand to maintain favorable pricing fundamentals.
Less-than-truckload carrier Roadrunner will implement a 6.9% general rate increase on Wednesday.
A St. Louis trucking company and its equipment leasing affiliate recently filed for Chapter 11 bankruptcy, citing the “challenges of the freight market” as one of the main reasons they are seeking to reorganize.
BlueGrace Logistics has acquired FreightCenter, which significantly expands its less-than-truckload offering.
Kuebix is being relaunched as a TMS by FreightWise in a recent deal with less-than-truckload carrier Estes.
Forward Air announced Monday its board of directors has embarked on a review of strategic alternatives.
A ruptured deal between project44 and MyCarrier now has spawned a p44 lawsuit against SMC3.
Trucking M&A was off again in 2024, but the year saw some notable transactions and provided insight on a couple of major spinoffs on the horizon.
Big changes are coming in 2025 to the way less-than-truckload freight is classified.
Chris Jamroz doesn’t mince words about what he found at Roadrunner, but a new ownership structure launches its next phase
A Thursday opinion from a federal bankruptcy judge said Yellow didn’t provide proper notification ahead of layoffs but its actions were in good faith, meaning the claims may be reduced.
A spinoff of FedEx Freight will give investors more options to play the less-than-truckload space.
FedEx’s decision to spin off its LTL unit marks the end of an era that began nearly 30 years ago when major parcel carriers sought to provide comprehensive transportation solutions for their customers.
FedEx said Thursday it will move forward with the separation of its less-than-truckload and legacy package delivery businesses.
A federal bankruptcy court has approved two sales totaling $192.5 million for 12 of Yellow Corp.’s terminals.
Less-than-truckload carrier Pitt Ohio has acquired Midwest carrier Sutton Transport.
Less-than-truckload carriers Estes and R+L Carriers have made offers to acquire $192.5 million in real estate from bankrupt Yellow Corp.
Forward Air announced after the market closed Friday the termination “without cause” of its president and chief operating officer.
XPO and Old Dominion reported tonnage declines in November, but both appear to be anticipating a market recovery.
Intraquarter updates from a pair of less-than-truckload carriers pushed shares of the group lower on Tuesday.
Industrial data remains under pressure ahead of intraquarter updates from less-than-truckload carriers.
The Teamsters new labor deal with Standard Forwarding likely clears the path for a Jack Cooper acquisition.
UPS is paying a steep fine to the SEC for how it valued UPS Freight before it was sold to TFI.
A majority stake in less-than-truckload carrier Roadrunner has changed hands from an activist investor to an investment group led by the company’s CEO.
Less-than-truckload carriers continue to take general rate increases even as the overall demand picture remains murky.
A federal bankruptcy court has denied a request to reconsider its ruling on withdrawal liability claims against Yellow Corp.
Keith Wilson, the owner and CEO of Portland, Oregon’s, Titan Freight, has won a surprise victory as that city’s mayor.
Forward Air continues to refresh its leadership team, hiring a new chief commercial officer on Wednesday.
Forward Air lowered full-year earnings guidance on Monday and said it wouldn’t address press reports that it is up for sale following a messy merger.
ArcBest missed third-quarter expectations and is guiding to more than 500 basis points of less-than-truckload operating ratio degradation in the fourth quarter.
ArcBest sees weak trends in both its asset-based and asset-light segments during the third quarter.
Less-than-truckload carrier XPO beat third-quarter expectations and outlined a plan for outsize yield and margin growth.
XPO beats third-quarter expectations, reporting 200 basis points of margin improvement in its less-than-truckload unit.
Moran Transportation announced it has acquired fellow less-than-truckload transportation provider RMX Freight Systems.
A federal bankruptcy judge overseeing Yellow Corp.’s liquidation has corrected a mistake in an earlier opinion, which could significantly alter how much Yellow owes to pension funds.
Less-than-truckload carrier Saia saw a modest backup in financial results during the third quarter but reasserted confidence that it’s on the right path with its terminal growth strategy.
Less-than-truckload carrier Saia’s less favorable freight mix and higher cost structure from a terminal expansion weighed on its third quarter.
Knight-Swift Transportation beat the third-quarter consensus estimate but provided a mixed earnings outlook for the next two quarters.
Continued weakness in freight demand weighed on Old Dominion’s third quarter, but the less-than-truckload carrier said current sequential trends are the best in two-and-a-half years.
Old Dominion Freight Line’s third-quarter came in slightly ahead of analysts’ lowered expectations, but its volume trends remained soft.
TFI CEO Bedard said on an analyst call that he wasn’t sorry the company bought UPS Freight, but he was plainspoken about its issues.
Canadian transport and logistics company TFI International’s third-quarter earnings missed consensus forecasts by 18 cents per share.
Less-than-truckload carrier Saia said it will open three terminals in October, pushing its new terminal count to more than 20 this year.
Yellow’s Chapter 11 plan before a federal bankruptcy court includes up to $100 million in payments to employees holding paid-time-off and commission claims.
After mounting pressure from some shareholders following an ill-fated merger, sources have confirmed to FreightWaves that Forward Air is working with investment bankers to sell the company.
Daylight Transport and Old Dominion Freight Line garnered the top rankings in consulting and research firm Mastio’s 2024 survey of shippers.
Investment firm Alta Fox has joined some of Forward Air’s other investors that are calling on the expedited trucking company to consider a sale following its controversial acquisition of Omni Logistics.
A Wednesday court filing showed bankrupt Yellow Corp. will begin accepting indications of interest for its remaining terminals next week with the hope of closing the property sales in January.
A Delaware bankruptcy court denied a request to stay the deposition of Teamsters union leader Sean O’Brien regarding his involvement in failed negotiations with Yellow Corp. last year.
Saia announced plans to open three more terminals in September, which is part of a larger plan to open 18 to 21 this year.
Susquehanna Financial Group analyst Bascome Majors cut his earnings forecasts for less-than-truckload carriers following a soft August.
A Delaware bankruptcy judge said Friday that Yellow is on the hook for withdrawal liabilities but that the amounts will be capped.
Shortly after testifying about the days leading up to Yellow’s 2023 bankruptcy, its former head, Darren Hawkins, has taken on a new role leading the North American Chassis Pool Cooperative.
Some less-than-truckload carriers reported weaker tonnage trends in August but continued to capture increases in yields.
Teamsters union leader Sean O’Brien will have to appear at an in-person deposition that could determine the fate of up to $244 million in WARN Act claims against Yellow’s estate.
Less-than-truckload booking platform MyCarrier announced Wednesday it has acquired supply chain payments platform Curant.
Less-than-truckload carrier Saia is still recording volume growth even though a year has passed since Yellow Corp. closed and the comparisons have gotten tougher.
A soft macroeconomic environment has resulted in lighter shipments for ArcBest and a delay in the company’s freight swap.
A shareholder-backed bankruptcy plan for Yellow Corp. would satisfy all allowed unsecured claims and leave shareholders with a real estate investment trust to manage the remaining properties.
Newly-formed Jack Cooper LTL is rumored to be in talks to purchase less-than-truckload carrier Standard Forwarding.
AFS Logistics tapped Andy Dyer as its next CEO but made no mention of the departure of its former leader.
Yellow Corp., which is close to submitting a final Chapter 11 plan, can retain real estate broker CBRE to sell its remaining terminals, a Delaware bankruptcy court said Friday.
Less-than-truckload carrier Estes said Thursday it has closed on seven additional terminals that were being leased by bankrupt Yellow Corp.
Activist investor Ancora has called on Forward Air’s board to consider a sale of the company and to begin engaging with potential buyers.
Activist investor Clearlake Capital holds a 13.8% equity position in Forward Air and signaled it may look to make changes at the company.
XPO is reportedly again in talks to divest its European transportation business as it seeks to focus solely on its North American less-than-truckload operations.
BRW has been created through an acquisition as a combined brokerage and truckload and LTL carrier.
Less-than-truckload carrier Saia is adding six locations acquired from Yellow Corp. in Montana, South Dakota and Wyoming in August.
Creditors to Yellow’s estate say professional fees are racking up while its advisers delay a realistic Chapter 11 plan in hopes of producing an unlikely recovery for shareholders.
Forward Air said Wednesday it will continue to focus on integration and revenue opportunities following a messy merger with Omni Logistics.
RXO did not see significant improvement in its key financials, but it highlighted where things were better.
Less-than-truckload provider Roadrunner said Wednesday it will now serve locations in western Canada.
3PL RXO saw its revenue decline in the second quarter, but gross margin was higher.
Yellow’s non-pension-affiliated creditors as well as its shareholders may soon know the fate of their stake in the defunct less-than-truckload carrier’s estate.
ArcBest misses second-quarter expectations as losses at its asset-light business continue.
ArcBest reported second-quarter results on Friday, which came in light of analysts’ expectations.
Less-than-truckload carrier XPO bested second-quarter expectations on Thursday as tonnage and yields continued to move higher.
Less-than-truckload carrier XPO beat second-quarter expectations as tonnage and yield increases were complemented by effective cost management.
Dave Bozeman, one year into the job as CEO of C.H. Robinson, cites a new operating model as the company’s earnings surprise to the upside.
Knight-Swift announced its third less-than-truckload acquisition on Tuesday, purchasing Los Angeles-based Dependable Highway Express for an undisclosed sum.
In an earnings call with analysts, TFI International CEO Alain Bedard gave a strong critique of the company’s LTL cost structure.
Growth-related costs and a less favorable freight profile led to Saia’s second-quarter results coming up short of expectations.
A first look at less-than-truckload carrier Saia’s second-quarter earnings report.
Knight-Swift Transportation said the trough of the freight cycle has likely passed and that it is now focused on growing its less-than-truckload business.