Less than Truckload (LTL)

YRC beats expectations with the benefit of outsized gains on sales. Noting volumes were down 24% in April, management says it likely won’t satisfy debt covenants into 2021 and it opts out of questions on its call.

First female judge advocate general and chief counsel, a returning business development leader and a service center manager are announced.

Plus: California Trucking Association, CERES, release report on path to electrification

ArcBest managed through the first quarter largely unscathed by the coronavirus outbreak. That has all changed in April as revenue is off 20% year-over-year.

ArcBest sees “one of the best first quarters” in company history, but COVID-19-related demand headwinds took a toll on April’s results.

Chief marketing officer, service center manager and executive vice president are named.

Saia’s first quarter performance placed its recent terminal expansion campaign on full display. Unfortunately, COVID-19 headwinds will mask near-term results.

Saia’s multi-year terminal expansion project drives earnings results well ahead of expectations.

Revenue per hundredweight is suffering as a result: CFO

Declines in trucking shipments and spend, current and future, highlight the takeaways from U.S. Bank’s first-quarter Freight Payment Index report.

Other metrics helped the LTL carrier post a new record.

Canadian truck driver Nicole Folz learned that she tested positive for COVID-19 two weeks after falling seriously ill during a cross-border run in the US.

Customer service (in many forms) is the key to keeping and/or expanding business during the pandemic.

On road to recovery, Nicole Folz raises money to get more personal protective equipment in the hands of fellow truck drivers.

From quarantine, Canadian truck driver Nicole Folz recounts the scary reality of falling seriously ill hundreds of miles from home during a less-than-truckload run in the United States.

With the belt tightened at YRC, a covenant waiver and benefits contribution deferral are still required.

Short-sea shipper says economic impact of COVID-19 has forced service disruption and employee layoffs.

Carriers are hopeful that Q2 will be much less chaotic than last quarter.

Two former UPS executives have new roles with Atlanta-based companies and a service center manager is named.

Two more significant companies in the trucking and transportation field have implemented layoffs and furloughs. In response to an email query from FreightWaves, Doug Waggoner, the CEO of Echo Global […]

Activist investor Barna Capital seeks to swap out YRC Worldwide board members and make non-executive level changes in management.

While transportation industry participants have an abundance of questions loaded for management teams this earnings season, answers on the future will be tough to provide.

Continued drop in cross-border truck traffic mirrors broad decline in Canadian freight as COVID-19 crushes demand for nonessential goods.

Bob Costello expects many trucking companies to go out of business before the economy recovers from the recession caused by the coronavirus pandemic.

After a surge in freight over the past few weeks, UBS transportation analyst Tom Wadewitz is predicting a rough two months.

FedEx (NYSE: FDX) and its subsidiary TNT International are placing surcharges on all international parcel and freight shipments. The changes go into effect April 6. The changes were described as […]

ArcBest battens the hatches on coronavirus concerns. The company draws down available credit and implements business continuity plan.

Roadrunner seeks voluntary delisting from the NYSE as it continues its reorganization and focuses on asset-light offerings.

Appointments part of strategic plans in Illinois and Indiana; service center manager tapped in Texas.

Family-owned Beaver Express Services notified 160 company drivers and 100 part-time and full-time independent contractors Monday that the LTL carrier is ceasing operations after 77 years.

Morgan Stanley upgrades its freight transportation industry view from “cautious” to “in-line.” The firm lowered its earnings expectations for the group.

One of Canada’s largest transportation and logistics companies says it will temporarily lay off some employees, suspend dividend and slash executive pay as it braces for economic fallout to hit freight.

Citing a deterioration in market conditions, XPO announces that it is no longer looking to spin-off its separate business units.

Stifel Financial sees an OK first quarter, but the picture gets less clear after that, with risks to second-quarter earnings estimates.

Most companies are right near the 25% decline in the market since February 1.

Carol Tomé named new CEO at UPS. David Abney to retire at the end of 2020 after a 46-year career.

Global law firm HFW and Southeastern Freight Lines announce promotions.

Chief Financial Officer Alan Graf to retire at year-end. Corporate Vice President and Treasurer Mike Lenz to assume the role in September.

Profitability is the key to any business staying in business. In trucking it is harder than in many other businesses. Chris Henry explores the “trucking profitability paradox.”

Jim Blaze writes about the outlook for intermodal rail in 2020.

Tonnage headwinds and better yields are the story so far in 2020. Old Dominion Freight Line reports modest revenue decline.

Polaris Transportation Group will get access to more freight for its Canada-to-U.S. less-than-truckload business with the purchase of Toronto-area 3PL brokerage PRI Logistics.

CCM reorganizes executive team, STEMCO picks VP of sales and marketing, and Southeastern Freight appoints Orlando service manager.

Continued strength in northbound less-than-truckload pricing helps drive Canadian shippers’ freight costs in December, the latest results from the Canadian General Freight Index show.

Hubless logistics company assembles “algorithmically created carpools” of LTL freight, to be shipped via full truckload

Winter weather can have a major impact on freight movement. Read meteoroligist Nick Austin’s article about winter weather conditions.

Amazon drops more logistics providers, citing safety, performance issues as thousands of delivery drivers across the country who work for small and medium-size logistics companies that contract with Amazon.com found out in mid-February they may lose their jobs in April

Old Dominion Freight Line announces a 4.9% general rate increase after reporting market stabilization in January.

Transport earnings were rough but may have bottomed.

Acquisitions and strong less-than-truckload performance help bring record revenue to Mullen Group’s trucking and logistics business and offset declines from its struggling oil services.

The response from CEO Jacobs is always the same: Splitting it up will achieve better shareholder value.

Darren Prokop writes about the volatility in trucking, and how ecommerce may help less-than-truckload carriers recover in 2020.

Old Dominion Freight Line sponsors Major League Baseball, and for eight of the 30 MLB teams, the less-than-truckload carrier helps make Florida and Arizona feel like home for six weeks of spring training.

Many measures of activity were weaker but the bottom line improved.

Your name is your face to the world. Forward Air wants a makeover since diversifying from its original business focused on air cargo, so it’s changing its name and logo.

Persistent industrial weakness sends Old Dominion’s fourth-quarter results down

YRC posts weak fourth-quarter, hampered by bad economy

Known on northeastern highways for its iconic orange and white trucks, Preston 151 was founded in 1932 in the Chesapeake Bay area of the United States. The company was started […]

Saia’s q4 EPS comes in light. Operating income, operating ratio hit by higher expenses on multiple fronts

ArcBest posts down q4 results and January didn’t look much better

Too much Amazon traffic may spoil the Brown broth

Most key metrics were lower for the LTL carrier/brokerage company.

Upgrading docking, a new Northeast hub to come and the “weekend advantage” all played a role in the improvements

UPS posts largely expected Q4 results as operating gains and nontax and after-tax charges cancel each other on the bottom line.

It’s a bold plan and FreightWaves’ Mark Solomon has plenty of experience covering XPO to give us a unique perspective.

New Penn Motor Express files change of operations proposal with union to obtain additional workers at three new regional velocity centers.

Rates seem to be recovering from 2019’s downward spiral.

Earlier this month, the CEO of XPO (NYSE:XPO), Brad Jacobs, announced that he intended divest operating units of XPO in an effort to maximize shareholder value. One thing was clear, however. Jacobs intended to hold onto the less-than-truckload (LTL) operations of XPO that were formerly known as Con-way. As part of our Online Haul of Fame Series, here is a look back at the history of Con-way.

FedEx Freight levies $7 `California compliance’ surcharge on all LTL shipments in, out and within the state

Brad Jacobs enters rich, leaves richer

FreightWaves CEO Craig Fuller writes about methods to lower diesel fuel expenses for large and small trucking companies.

With an impending breakup of the company, XPO Logistics will look like a far different company as the century’s third decade dawns.

Jevic Transportation was founded in 1981 in Delano, New Jersey by Karen and Harry Muhlschlegel. The Jevic name was a combination of the names of the three Muhlschlegel children. Founding a trucking company just one year after deregulation was ambitious, but the gamble proved profitable. Jevic enjoyed prosperity throughout the 1980s and the early 1990s.

Brian Aoaeh writes about the challenges and opportunities of logistics in Africa – and what will likely occur in the next few years.

Ben Thrower examines the issues surrounding California’s AB-5, which impacts truckers who are independent contractors.

XPO may be on verge of breaking itself as it says it will explore sale or spin off up to 4 business units

Market Expert Anthony Smith provides insight into the all-important housing market as 2020 gets underway.

Chris Henry runs fleet profitability benchmarking and analytics for FreightWaves and facilitates the TCA’s TPP program. If you are interested in benchmarking your fleet’s performance with the best operators, join […]

Seth Holm of FreightWaves Freight Intel Group writes about the impact of nuclear verdicts on the trucking industry. Will 2020 be a tipping point for these huge awards?

A number of readers responded to Brian Aoaeh’s 12/26/19 “Commentary: Trucking industry observations heading into 2020.” His current commentary features some of those responses and information from Anthony Campo, a trucking industry veteran.

McLean Trucking is one of the pioneers of the less-than-truckload (LTL) trucking industry. The company’s founder eventually became one of the pioneers of the global logistics and trade industry.

Top 25 less-than-truckload carrier Midwest Motor Express has been acquired by Red Arts Capital and Prudential Capital Partners.

Saia’s CFO leaves after just 8 months to return to reefer warehousing firm Americold

Averitt Express its first distribution center in Atlanta

Market Expert Zach Strickland provides timely advice for shippers that need to choose either a carrier or a 3PL.

If you had to name one of the most influential companies in trucking history, Consolidated Freightways (CF) would be near the top. While the trucking company, CF is no longer with us, the legacy of CF lives on through the companies it spun off, including Freightliner, CNF (which became part of XPO) and Purolator International.

XPO’s IT investments help offset weak macro environment for freight

Market Expert Anthony Smith writes about the factors that will affect the U.S. economy in 2020 and what that willl mean for business.

The operating realities of long-haul, for-hire trucking translates into working conditions that require both employee and independent contractor drivers to be away from home, and alone for days and sometimes weeks at a time. This combined with transit delays (both on the road and at customer facilities), and lifestyle-related health pressures (sleep deprivation and poor eating choices) are the primary causes of both short and long-term turnover.

FreightWaves founder and CEO Craig Fuller writes about the issues the trucking industry dealt with in 2019 and what is ahead in 2020.

Ben Thrower writes about what most in the trucking industry know – 2019 was a tough year for almost everyone.

Market expert David Faulkenberry explains the details of final mile delivery.

Brian Aoaeh writes about key trucking events in 2019 and looks ahead to 2020.

One of the leading load boards shuttered since Friday forcing customers to find workarounds.

Consumer demands and expectations are rising dramatically. Up to 25% of consumers are willing to pay extra for same-day delivery. Some estimate same-day delivery will reach a 25% market share […]

Kayla Matthews writes about best practices to manage fleets during the holidays.

FedEx’s lousy second quarter results are a cost issue first and foremost

One year after a sharply negative report sent shares plunging, XPO stock has more than recovered

Forward Air to become top 5 final-mile provider with acquisition of most of Linn Star

YRC swaps CFOs, names new chair as traffic levels weaken