Finance

Proficient Auto Logistics had warned of a weak quarter. The numbers released Friday proved that projection correct.

After the most prolonged freight recession in history, the market has been showing signs of recovery over the past few months.

Old Dominion, CSX among largest post-election gainers as freight stocks outperformed broader averages.

RXO is boasting that its projected efficiency savings from the Coyote Logistics acquisition will surpass earlier estimates.

RXO’s third-quarter earnings were highlighted by the first numbers from Coyote Logistics as well as an operating loss.

Schneider National is hopeful for a better seasonal inflection in the fourth quarter, noting some areas of the truckload market are seeing significant capacity exits.

Wabash National, feeling the impact of lower trailer orders, gets a negative outlook at S&P.

Schneider National missed third-quarter expectations Wednesday, but shares of the truckload carrier were up 4% in early trading.

Trimble Inc. said its transportation segment performed well during the most recent quarter, with revenue increasing 1.4% to $195 million.

Lineage Inc. announced quarterly results Wednesday for the first time since becoming a public company.

A former bookkeeper for an Iowa trucking company was sentenced to two years in prison after a guilty plea.

Cargojet reported good third-quarter results and says it is adding capacity to meet expected demand growth.

GXO Logistics Inc. sees an upward trend in the global freight market in 2025, boosted by e-commerce.

Expeditors International by numerous metrics had a strong third quarter.

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.

GXO achieved 28% revenue growth in the third quarter to a quarterly record of $3.16 billion, boosted by new e-commerce customers.

BNSF Railway’s profits, revenue and volume all increased for the third quarter, thanks to surging intermodal and agricultural shipments.

Ocean shipping and logistics services provider Matson saw improved third quarter profits as higher China and domestic freight rates offset mixed container volumes. Operating income was $227 million for the […]

Ocean Network Express posted soaring results in the second quarter on strong demand in the major trades, an early peak season in the U.S. and attacks on the Red Sea trade route.

The strong air cargo market acted as a tailwind for Air Canada in the third quarter.

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.

The parent of container liner operator Maersk turned in quarterly revenue and profits higher than a year ago as attacks on Mideast shipping led to higher operating costs – and higher rates for shippers.

ArcBest sees weak trends in both its asset-based and asset-light segments during the third quarter.

The ONE alliance of container vessel lines posted second-quarter revenue on an early peak shipping season thanks to attacks on a key Mideast route and looming East Coast longshore strike.

The parent of Maersk container line said strong demand for shipping services and higher ocean freight rates fueled growth across all businesses as it raised estimates for full-year results.

E-commerce giant Amazon.com Inc.’s North American sales increased 9% year over year to $95.5 billion in the third quarter.

Trinity Industries, which builds tank cars, covered hoppers and other freight cars saw lower revenue but higher profits on better railcar lease rates and improved efficiencies.

Uber Freight posted a wider EBITDA loss but showed improvement in revenue in the third quarter.

Amazon Air is looking to make money from its in-house cargo airline by renting out aircraft, including those operated by Sun Country Airlines, to shippers.

Hub Group reported year-over-year revenue decreases in its intermodal and logistics segments during the third quarter.

C.H. Robinson CEO Dave Bozeman talked with analysts Wednesday about his model for turning the company around. The evidence indicates it’s working.

A first look at C.H. Robinson’s third-quarter earnings reveals slightly slower sequential gains than in recent quarters.

Logistics powerhouse Kuehne+Nagel is an early adopter of Amazon Air’s freight transportation service, which it is using to move e-commerce shipments from China to the U.S.

Less-than-truckload carrier XPO beat third-quarter expectations and outlined a plan for outsize yield and margin growth.

The builder of autoracks, intermodal stack cars and other railcars turned in a strong finish to fiscal 2024 despite challenges in the North American market.

XPO beats third-quarter expectations, reporting 200 basis points of margin improvement in its less-than-truckload unit.

Truckload carrier Heartland Express reported another loss in the third quarter and said cost cutting alone won’t return it to profitability.

Werner CEO Derek Leathers delivered a surprisingly positive outlook for the trucking market.

Truck broker Landstar System said Tuesday it expects no material lift in the freight market for the remainder of 2024.

Werner Enterprises’ third-quarter operating ratio deteriorated by 320 basis points.

Freight broker Landstar System missed third-quarter expectations Tuesday after the market closed and issued fourth-quarter guidance that was also light of consensus.

Lufthansa’s cargo division recorded modest profit growth in the third quarter and this week launched a trans-Pacific freighter service.

Researchers at Trace One recently published an analysis monitoring changes in food imports over time, the amount of food imported compared to total consumption, top trading partners and top food items imported for each state.

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.

Despite a first-half lull in domestic network demand for logistics services, the world’s largest forwarder saw overall volume growth in the third quarter.

Universal Logistics Holdings officials said they expect operating revenues of $1.8 billion to $1.9 billion in 2025.

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.

Universal Logistics Holdings’ third-quarter financial results show year-over-year decreases in its trucking, brokerage and intermodal segments.

UPS’s financial performance bounced back in the third quarter, but it flagged macroeconomic weakness and in-store shopping as potential headwinds for fourth-quarter volumes.

Covenant Logistics Group reports truckload revenue of $198 million in the third-quarter, despite a soft freight market.

Ryder has been pushing to rely less on vehicle leasing, and it’s getting there. 

Knight-Swift Transportation beat third-quarter expectations and provided some positive anecdotes around recent demand and pricing trends.

Union Pacific Corp. in the third quarter saw double-digit gains for income and earnings on modest carload volume improvement and lower fuel prices.

Canadian Pacific Kansas City’s third-quarter profits and revenue increased despite the impact of the four-day work stoppage in Canada, the railway reported on Wednesday.

Here’s a first look at Ryder’s third quarter earnings.

Tesla plans to ramp up full production of its all-electric Class 8 Semi truck in 2026.

Covenant Logistics Group reported 2% quarterly growth in freight revenue, “despite the prolonged general freight market down cycle,” Chairman and CEO David R. Parker said.

Knight-Swift Transportation beat the third-quarter consensus estimate but provided a mixed earnings outlook for the next two quarters.

CPKC saw single-digit gains in freight volumes in the third quarter, but the operating ratio climbed as a brief lockout of union employees hit network operations.

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.

Supply chain software provider Manhattan Associates says it is taking longer to close deals.

The Boeing Co. on Wednesday reported a loss in revenues of over $6 billion in the third quarter.

Old Dominion Freight Line’s third-quarter came in slightly ahead of analysts’ lowered expectations, but its volume trends remained soft.

Canadian National Railway posted third-quarter revenue slightly better than a year ago as operations appeared fully recovered from destructive wildfires and a labor dispute that briefly shut down the railroad.

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.

Norfolk Southern delivered significant gains in earnings and operating ratio during 2024’s third quarter, with new CEO Mark George noting the railroad is “continuing to close the margin gap” with its peers.

Norfolk Southern (NYSE: NSC) posted third-quarter earnings from rail operations of $1.6 billion, along with an operating ratio of 47.7% and diluted earnings per share of $4.85, the railroad announced Tuesday. 

Canadian transport and logistics company TFI International’s third-quarter earnings missed consensus forecasts by 18 cents per share.

Marten Transport turned in a quarterly earnings report that was negative by almost every measure.

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.

CSX faces more than $200 million in reconstruction costs as a result of Hurricanes Helene and Milton, and the income impacts of the storms will be felt in both the third and fourth quarters.

The TriumphPay payments network turned in a positive EBITDA performance in Q3, a key benchmark for the company.

CSX Corp. reported third-quarter operating income of $1.35 billion with net earnings of $894 million, or 46 cents per diluted share, in financial results announced Wednesday.

Logistics real estate investment trust Prologis said it doesn’t expect the market to positively inflect until mid-2025.

Logistics warehouse operator Prologis beat third-quarter expectations even as some key metrics dipped amid a market “bottoming process.”

J.B. Hunt Transport Services beat third-quarter expectations as it awaits a turn in the freight market.

J.B. Hunt Transport Services reported a better-than-expected result for the 2024 third quarter on Tuesday after the market closed.

Boeing’s striking machinists are not currently expected to be the target of job cuts by the company, according to an internal presentation obtained by The Seattle Times.

Supply chain software provider Descartes said Monday it has acquired omnichannel e-commerce platform Sellercloud in a deal that could total $130 million.

Nikola lays of 135 workers as it seeks to preserve its financial runway.

A tough earnings report at supply chain software provider E2open was greeted with a big sell-off on Wall Street.

Hub Group announced a joint venture with Mexico’s largest intermodal carrier, EASO.

Here are a few tips to keep in mind for fleets considering to haul a load for FEMA or any other disaster relief project 

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.

Pilot Travel Centers got a two-notch upward bump in its debt rating from  Moody’s.

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.

S&P gave a thumbs-up to the credit metrics at RXO after the company set two deals to fund the Coyote Logistics acquisition.

Third-party logistics provider HTL Freight announced it has acquired CTS Logistics.

A deal between Relay Payments and Love’s Travel Stops means the payments provider will cover about 75% of the diesel market.

Container management software provider Gnosis Freight announced it has accepted a strategic capital investment from Vista Equity Partners.

The basic per diem rate allowed by the IRS for payments to transportation workers is rising by $11 in fiscal year 2025.

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.

Canadian supply chain SaaS provider Descartes acquired MyCarrierPortal, which provides brokers and shippers with carrier onboarding and risk monitoring tools.

Trimble customers who gathered in Las Vegas got the big news that Platform Science is acquiring Trimble’s telematics business.

RXO announced Monday that it has completed the acquisition of freight broker Coyote Logistics.

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.