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Marten Transport cited the weak freight market in reducing the salaries of six top executives. The executives’ 2023 salaries ranged from $267,000 to about $811,000.
A challenging parcel environment led to disappointing first-quarter results for FedEx.
Susquehanna Financial Group analyst Bascome Majors cut his earnings forecasts for less-than-truckload carriers following a soft August.
Radiant Logistics said some customers have moved freight deliveries up to avoid a potential dockworker strike or a possible change to U.S. trade policy.
Supply chain SaaS company Descartes reported record quarterly results for the period ended July 31.
Some less-than-truckload carriers reported weaker tonnage trends in August but continued to capture increases in yields.
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.
BMO’s transportation group, a big lender to trucking, showed even more third-quarter credit deterioration in the sector.
Cargojet’s domestic and international flying business posted solid gains in the second quarter thanks to e-commerce demand in Canada.
Proficient Auto Logistics, the auto hauler that went public in May, has made its first acquisition since its IPO.
Amazon logistics partner Air Transport Services Group expects better revenue and profits the rest of this year after a difficult second quarter.
Fleet fuel card provider Corpay said its North American fleet business “presented a drag on growth” during the second quarter.
Air Canada has jettisoned two freighter aircraft from its fleet because there isn’t enough business to justify the cost.
Forward Air said Wednesday it will continue to focus on integration and revenue opportunities following a messy merger with Omni Logistics.
GXO Logistics’ second-quarter revenue surged 19% year over year to $2.8 billion.
RXO did not see significant improvement in its key financials, but it highlighted where things were better.
3PL RXO saw its revenue decline in the second quarter, but gross margin was higher.
EBITDA at Uber Freight remained negative in the second quarter, and revenue continued to fall.
Expeditors International saw an increase in its airfreight business in the second quarter and a downturn on the ocean.
Transportation provider Hub Group sees Q2 revenue fall 5% year over year to $986 million.
Sun Country Airlines expects to double its cargo revenue once a revised transportation contract with Amazon is fully implemented in 2026.
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.
Wall Street wasn’t happy with the revenue forecast for Amazon’s third quarter.
Parcel logistics giant DHL is banking on a strong peak shipping season to bring up results for 2024.
Schneider National saw positive indicators in the second quarter as the company reported revenue of $1.31 billion.
Werner’s Q2 earnings saw worsening financial conditions but improving freight market conditions and signs of capacity tightening.
Less-than-truckload carrier XPO bested second-quarter expectations on Thursday as tonnage and yields continued to move higher.
Large passenger airlines recorded solid growth in cargo revenue during the second quarter after more than a year of contraction.
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.
C.H. Robinson’s earnings look solidly positive, and the stock market reacted that way.
Canadian Pacific Kansas City had a gangbuster second quarter as
merger-related traffic synergies kicked in faster than expected and boosted revenue and profits,
executives said on Tuesday.
Freight broker Landstar System shared some signs of market stabilization with analysts on a Tuesday call but said it’s still too soon to say the market has turned.
The CEO of Werner Enterprises says an inflection point in the freight market might be near.
Broker Landstar System beat second-quarter estimates Tuesday as the period ended a two-year streak of sequential revenue declines.
Werner Enterprises saw revenue and earnings per share drop in the second quarter.
In an earnings call with analysts, TFI International CEO Alain Bedard gave a strong critique of the company’s LTL cost structure.
Universal Logistics Holdings saw increases in second-quarter top-line revenue, along with gains in its trucking and contract logistics segments.
Growth-related costs and a less favorable freight profile led to Saia’s second-quarter results coming up short of expectations.
Operational improvements helped Norfolk Southern win back service-sensitive intermodal and automotive traffic while driving down costs and boosting the railroad’s profitability in the second quarter.
Ryder’s earnings report for the second quarter showed some sluggishness, but company executives see a bottom.
A first look at less-than-truckload carrier Saia’s second-quarter earnings report.
TFI International reported solid financial performance in the second quarter of 2024.
Union Pacific’s profits rose in the second quarter despite a sharp drop in coal traffic.
Covenant Logistics Group sees improvement in the overall freight market but not enough for a 2024 recovery.
Heartland Express’ Q2 earnings saw a net loss of $3.5 million as it works to improve its operating ratio and profitability
Truckload carrier Pam Transportation Services lost money again in the second quarter but said it saw signs of an improving freight market as the quarter closed.
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.
Covenant Logistics Group posts second-quarter revenue of $287.5 million and adjusted earnings of $1.04 cents per share.
The recovery of the air and ocean logistics market since the start of the year helped improve second-quarter results at Kuehne+Nagel and DSV.
Old Dominion Freight Line beat second-quarter expectations Wednesday as it continues to ready its network for an improving freight economy where it plans to win market share.
Tesla has paused plans for a factory in Mexico amid a 43% drop in second-quarter profit.
xCanadian National today lowered its financial outlook for the year as volume growth slowed during the second quarter due to slumping lumber traffic and the impact of shippers diverting international intermodal containers to U.S. ports in anticipation of a potential rail strike in Canada.
Truckload carrier Heartland Express reported another quarterly net loss on Tuesday and said improvement in the freight market will not likely occur until 2025.
UPS is taking longer than expected to restore profit levels amid slower parcel growth and increased operating costs.
Brad Jacobs’ QXO is ready to begin acquisitions with a war chest of $5 billion in hand after two big deals.
Marten’s second-quarter earnings deteriorated, but it said it hasn’t cut contract rates since August.
Triumph Financial is sticking to its long-term goal of growing TriumphPay Network market share even as earnings sag.
Logistics warehouse operator Prologis said uncertainty around interest rates and the political landscape should be resolved in the coming months, clearing a path for a more constructive 2025.
Logistics real estate landlord Prologis noted “subdued” but “improving” demand in its second-quarter report issued Wednesday.
J.B. Hunt missed second-quarter expectations Tuesday as soft freight demand and costs associated with carrying the capacity needed to meet future demand weighed on the period.
J.B. Hunt missed second-quarter expectations as volumes remained weak across all modes, expenses remained elevated and intermodal yields declined.
Forward Air’s review of the first quarter shows the company has a little more breathing room to upcoming debt covenants.
Parcel analyst Satish Jindel predicts FedEx will opt later this year to spin off the Freight unit to the public market.
FedEx is cutting nearly 20% of its Boeing 757 cargo jets because of soft demand and efforts to modernize the fleet.
Proficient Auto Logistics, a newly formed publicly traded auto carrier, issued its first-ever earnings.
ArcBest’s efforts to improve freight mix are producing big swings in its operating metrics, a May update revealed.
Less-than-truckload carrier XPO reported a modest increase in volumes during May, but yields took a notable step higher.
Old Dominion’s volume metrics continue to lag peers, largely by design.
Former FreightWaves analyst turned hedge fund manager Seth Holm shared his outlook for transportation stocks at Future of Supply Chain on Wednesday.
Less-than-truckload carrier Saia reported an acceleration in its volume metrics for May, sending its share price up 14% on Tuesday.
Supply chain services provider Descartes reported improved fiscal first-quarter results.
RXO,has had its debt rating cut by S&P Global.
Results from BMO’s transportation sector showed deterioration in trucking credit quality.
Two rating agencies have cut the debt rating of beleaguered Forward Air.
C.H. Robinson has had its debt rating downgraded by S&P Global.
Mesa Airlines has stopped flying for DHL Express, citing low cargo demand.
A couple of truckload carriers provide an update on recent trends following a slew of poor first-quarter reports.
Forward Air announced it has hired two-time YRC Worldwide chief financial officer Jamie Pierson.
EBITDA losses at Uber Freight grew in the first quarter, but its president expressed strength in the company’s business model.
Radiant Logistics reported an in-line result for its recent fiscal quarter and said the market has moved off the cycle bottom.
Corpay’s first-quarter fleet transaction revenue declined 15% year over year to $108 million.
Forward Air’s first quarter missed expectations, sending shares 30% lower in pre-market trading Thursday.
GXO Logistics achieved 6% revenue growth in the first quarter, despite challenging freight market conditions.
ABX Air’s pilots union is out of Amazon’s doghouse, resulting in an improved labor agreement and a contract to fly 10 freighters.
Expeditors recorded year-on-year gains in tonnage for both airfreight and ocean freight for the first time in more than two years.
Amazon has deepened its relationship with Air Transport Services Group, agreeing to lease at least 10 widebody freighters for five years in exchange for rights to increase its ownership stake.
Supply chain technology provider Trimble’s first-quarter transportation and logistics revenue totaled $195 million.
Less-than-truckload carrier XPO says robust yield improvement is still on the horizon even after it laps easy post-Yellow repricing comparisons.
The potential energy and environmental gains from autonomous trucking are laid out in a new white paper from Aurora Innovation.
Less-than-truckload carrier XPO easily surpassed analyst expectations for the first quarter as significantly higher yields amplified modest tonnage gains.
RXO looked to various metrics to push a message that things are getting better at the 3PL.
Air Canada said Thursday it changed its mind about investing in two widebody freighters and will rely on its growing passenger fleet to increase cargo capacity.
Schneider National cut full-year earnings guidance by 25% but said contractual truckload pricing turned positive in the first quarter.
Engine maker and power distribution giant Cummins Inc. reported Q1 declines in two of five divisions, but a huge one-time gain juiced profits.
With sequential numbers at C.H. Robinson showing solid improvement, the company’s heavily shorted stock soared in late trading.
Lufthansa’s freighter division faced external headwinds and rising costs that impaired its growth during the first quarter.
Logistics real estate operator Link Logistics continues to see favorable demand for space on the downside of the freight cycle.
