Truckload Freight

Covenant’s biggest announcement in disclosing its first-quarter earnings is that it bought a large hauler of poultry-related freight.

Schneider National beat first-quarter expectations Thursday but lowered its full-year outlook as excess capacity lingers.

U.S. Xpress, about to be sold to Knight-Swift, has settled 4-year old litigation regarding its initial public offering.

Freight broker Landstar System sees a big earnings falloff from the all-time high established a year ago.

TFI International reported first-quarter revenue declines in all four main operating segments.

“Trucking as a business is not about what you make, it’s about what you don’t spend,” industry expert Adam Wingfield said at FreightWaves’ Small Fleet & Owner-Operator Summit.

Pam Transportation saw first-quarter earnings fall as the truckload market searches for a bottom.

Schneider said Friday it will be a strategic intermodal carrier for the Canadian Pacific Kansas City rail line from Mexico to Chicago.

Knight-Swift Transportation has recalibrated its 2023 outlook after posting an earnings miss to start the year.

Truckload carrier Marten had a first quarter in which it drove more miles than last year but made less money.

J.B. Hunt missed first-quarter expectations Monday as weak intermodal and trucking trends plagued the quarter.

J.B. Hunt Transport Services missed analyst expectations for the first quarter on Monday.

Transportation shipments and rates back up during March, according to Cass Information Systems.

Truckload rates will continue falling at a steep rate in the second quarter while less-than-truckload rates level, a report from a large 3PL asserts.

A first-quarter survey of shippers showed inventories are being drawn down and that a second-half freight recovery remains in play.

“TrueTMS carries a price point that is affordable for a one- to 20-truck operator to purchase,” says T3 Tech’s George Thellman.

C.H. Robinson is not rushing to select Jim Barber as CEO, leading some to wonder if he is the perfect fit for the demanding job.

Knight-Swift Transportation said it’s not backing away from M&A opportunities following its $808 million purchase of truckload carrier U.S. Xpress.

The deal to sell itself to Knight-Swift ends a struggle at U.S. Xpress that lasted several years and included the failed Variant initiative.

In a first-quarter earnings preview, Deutsche Bank analyst Amit Mehrotra said he expects an in-line type quarter but voiced some concerns.

A report from Cass Information Systems suggests the current softness in freight markets is likely to hang around for “several more months.”

Trucking company Rapid Response has been sold to its employees, investment banking firm ButcherJoseph announced Friday.

Antwan Banks has been chosen to oversee the National Motor Freight Traffic Association’s cybersecurity relationship efforts with the trucking industry.

ArcBest’s firing of the founder and the CEO of MoLo Solutions is part of a reorganization to tighten sales functions across the company, it said.

Transportation rates fell at the fastest-ever pace recorded in February, according to a monthly supply chain survey.

Transportation and logistics provider Sage Logistics Holdings said it has entered an agreement to acquire Byland Transportation.

Werner Enterprises announced Thursday that Christopher Wikoff will succeed John Steele as the company’s chief financial officer.

Big names like C.H. Robinson, Uber Freight and Convoy have all cut staff in recent months. Here’s what’s driving the freight brokerage layoffs.

Expected layoffs at Coyote are part of a restructuring implemented by parent company UPS.

A Tuesday report from Cass Information Systems showed freight shipments in January were flat with December on a seasonally adjusted basis.

Carrier Pam Transportation saw margin pressure in the fourth quarter as peak season didn’t materialize.

Transport company RXO, coming off a solid performance in its first quarter as a stand-alone entity, is “positioning ourselves for the inflection,” according to CEO Drew Wilkerson.

Management from Werner Enterprises parses through 2023 expectations on a Tuesday evening call with analysts.

TFI posted in-line fourth-quarter EPS. Revenue was down in a tough operating environment.

Daseke said Monday that supply constraints and cost inflation will again push flatbed rates to new highs in 2025.

Truckload carrier Heartland Express missed fourth-quarter expectations Friday.

Schneider National provided better-than-expected fourth-quarter results Thursday, and its 2023 guidance also came in ahead of analysts’ expectations.

The initiative has built “stickiness” with drivers, broadened access to carrier capacity and resulted in better service, according to the company’s brokerage head.

Knight-Swift Transportation’s 2023 outlook comes in as expected, potentially establishing a higher earnings trough for the carrier.

Covenant Logistics Group is hopeful this cycle won’t bring a material earnings decline, which was the norm in prior downturns.

Marten Transport had a mostly steady quarter, with some improvements and some softness.

Covenant Logistics Group missed fourth-quarter expectations even when excluding expenses incurred onboarding equipment.

Temperature-controlled carrier R.E. Garrison Trucking announced it has acquired produce hauler Boaty’s Transport.

Bank of America analyst Ken Hoexter now has a buy rating on most of the truckload carriers he follows.

Shippers are seeing relief in freight costs for the first time in more than two years, according to the December Cass Freight Index.

Morgan Stanley said trucking fundamentals could be “bottoming” in a Monday note to clients while Susquehanna called it quits on several stocks.

Andrew Clarke, the ex-C.H. Robinson Worldwide executive, would relish the opportunity to return as its CEO, according to sources.

Analysts waxed pessimistic about C.H. Robinson’s near-term outlook, arguing that the company’s culture needs to change.

Deal flow slowed in 2022, but there were still a number of transactions that changed trucking’s landscape during the year.

Demand for 3PL services to handle last-mile shipments of heavy goods will grow by double digits annually through 2025, according to a report by Armstrong & Associates and the National Home Delivery Association.

Cox Transportation announced Wednesday the acquisition of Outwest Express and its fleet of more than 400 tractors and 1,200 trailers.

Tony Tzeng tells FreightWaves’ Domestic Supply Chain Summit that Transfix’s TrueRate+ program is designed to guarantee tenders with an optimal blend of price and service.

Management from one of the nation’s largest truck brokerages is ready to take on the industry alone.

Interstate Health Systems hopes to open 40 to 60 locations catering to the health care needs of truck drivers, motorists and communities over the next two years.

Cass said Monday that positive trends in freight shipments and expenditures are likely to turn negative year over year in December.

Flatbed trucking company Daseke announced Monday it is repurchasing the nearly 30% stake in the company held by its founder.

PS Logistics said Thursday its fifth acquisition of the year will expand coverage in the Southeast.

Trucking executives are hopeful the first half of 2023 brings a cycle recovery.

Brokerage giant C.H. Robinson will focus its head-count reductions on upper- to mid-level management, sources say.

Flatbed hauler Daseke said its trucks remain “booked solid” and that it will look to use cost and efficiency initiatives to improve results again in 2023.

Fleet growth will be held steady as the truckload carrier pivots back to a more traditional model.

Werner Enterprises has built a model to perform on the downside of the cycle. Management believes the carrier may be better positioned to do so than in the past.

Heartland Express said recent fleet acquisitions will take three years to match the level of its legacy operations.

Transportation capacity grew during October at the fastest pace captured in the history of a 6-year-old data set.

XPO announced Tuesday that it has spun off brokerage unit RXO, which is now a separately traded company.

A connected ecosystem supported by multiple stakeholders is the best answer to the fragmentation that drives up costs and hurts service, according to J.B. Hunt’s Spencer Frazier.

Truckload carriers prepare for the other side of the freight boom.

XPO Logistics’ third-quarter results were at the high end of preannounced ranges. The fourth-quarter outlook calls for continued growth but with some cost pressures.

Ruan announced the acquisition of Michigan-based regional carrier NTB on Friday.

TFI posts strong third-quarter results and boosts its dividend by 30%. But much of the focus is on the work in progress at T-Force Freight.

Schneider National beat expectations for the third quarter but pulled in guidance as peak season is likely to be “muted.”

Truckload carrier P.A.M. Transportation Services reported better-than-expected third-quarter results on Thursday after the market closed.

Covenant Logistics announces in its third-quarter earnings release that Paul Bunn will be president and COO in the latest management changes.

Broker Landstar System reported another strong performance in the third quarter. However, the company now comps to the peak of the freight boom.

Knight-Swift Transportation missed analysts’ forecasts for the third quarter and dialed down expectations over the near term.

First-to-report Marten was solidly better than a year ago but with some signs of a slowdown from the second quarter.

This week: J.B. Hunt launches a scholarship program for employee dependents and grandchildren, Maersk’s rainbow container is enjoyed by employees in Cape Town, South Africa, and Schneider receives its 14th Ride of Pride truck.

Cass data was positive year over year in September but the report suggests the trend is set to reverse.

While earnings estimates remain largely intact for 2022, a September slowdown pushed analysts to take another look at 2023 forecasts.

Canadian carrier Bison Transport announced Wednesday it will be acquiring Pottle’s Transportation on Oct. 31. Financial terms of the transaction were not provided. Hermon, Maine-based Pottle’s operates a truckload fleet […]

Bay and Bay sells its tank transportation business to the largest food-grade hauler in the U.S.

TA Services announced that it has acquired California-based broker KPI Logistics.

Transportation capacity increased for a sixth consecutive month in September with prices falling for a third straight time, according to data released Tuesday. The Logistics Managers’ Index (LMI), which is […]

Werner Enterprises announced its third acquisition since last summer on Monday, adding Baylor Trucking to its one-way operation at an undisclosed price.

Flatbed carrier Daseke said Friday it would repurchase $40 million in stock, following an April request from an activist investor to do so.

Daseke announced Friday a transition at the CFO position and that it expects to achieve its previously announced 2022 financial targets.

Jason Seidl of Cowen says that slowing consumer and industrial activity will be felt in third-quarter results.

This week: A Georgia driver fighting for more women in the industry receives a renovated cab from Transfix, and a safety nonprofit teaches pedestrians and drivers about the dangers of trespassing onto train tracks.

Western U.S. truckload carrier Super T Transport announced it has been sold to Austrian transportation and logistics provider Berger Logistik.

USA Truck said Thursday it has been sold to German 3PL DB Schenker.

Cass data shows freight volumes reached a more than four-year high in August. But linehaul rates slid for the third straight month.

This week: Logistics companies, trailer manufacturers and trucking nonprofits prepare to celebrate drivers for National Truck Driver Appreciation week.

Management teams from a couple of the nation’s largest fleets share their thoughts on peak season and rates during an investor conference.

In a Thursday conference call with analysts, U.S. Xpress CEO Eric Fuller turned his focus away from the Variant initiative and toward a return to basics for the truckload carrier.

Truckload carrier U.S. Xpress announced staff cutbacks, capex reductions and reorganization of its operating units.

XPO Logistics announced that Jamie Harris will become the CFO of freight broker RXO following a planned separation in the fourth quarter.

Grammer Logistics said Wednesday it has appointed industry veteran Scott Dobak to head the company.

FreightWaves founder and CEO Craig Fuller provides insight into the state of trucking contract rates.

This week: Schneider driver becomes first woman to receive veteran Ride of Pride truck, FedEx celebrates 10th anniversary of Purple Eagle program and WIT releases latest diversity index report.

The Federal Motor Carrier Safety Administration issues a temporary exemption to hours-of-service rules for the states affected by BP’s refinery shutdown.