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UPS is working to transition U.S. Postal Service business from incumbent air cargo supplier FedEx and hire more pilots before the current contract officially ends.
Tesla’s first-quarter revenue fell 9% amid 6,000 worker layoffs in California and Texas.
Heartland Express said Tuesday weak freight fundamentals led to another net loss during the first quarter.
Investors cheered Ryder’s earnings, which weren’t immune to the weakness in the trucking market.
Triumph Financial CEO Aaron Graft talked future opportunities as growth engine TriumphPay flipped to negative EBITDA in the first quarter.
Marten is the latest trucking company to report earnings that reflect the weak trucking market.
Pam Transportation Services joined other carriers Thursday, reporting a poor start to 2024.
Prologis modestly reeled in 2024 expectations on Wednesday as it believes the recent demand weakness is tied to near-term uncertainties.
United Airlines nearly closed the year-over-year gap in cargo revenue during the first quarter as the air logistics sector shakes off a lengthy slump.
Logistics warehouse landlord Prologis modestly lowered expectations for 2024 on Wednesday.
Knight-Swift Transportation cuts its first-half forecast one day after a notable earnings miss from J.B. Hunt Transport Services.
J.B. Hunt Transport Services’ first-quarter earnings miss sent shares 6% lower in after-hours trading on Tuesday.
J.B. Hunt Transport Services reported a miss on first-quarter expectations Tuesday after the market closed.
The air cargo market’s upturn helped Delta Air Lines in the first quarter, but revenues were still lower than in 2022.
First-quarter earnings estimates for truckload carriers have been reeled in again as the industry awaits a meaningful turn in the cycle.
FedEx Express has parked more freighters, reduced aircraft capex and is integrating its daytime freighter network with the Freight segment’s less-than-truckload operation to provide linehaul connecting the U.S. and Europe to boost efficiency.
FedEx said strong cost controls drove its fiscal third-quarter results; its shares soared in late trading.
ArcBest reported another big tonnage decline in February as it continues to replace transactional freight with better-priced business from core accounts.
Lufthansa Cargo saw a big drop in profitability last year because of difficult market conditions.
Supply chain software provider E2open, with Elliott Investment Management holding a big stake, has launched a “strategic review” on its future.
Supply chain software provider Descartes said it continued to pick up market share on its way to another record quarterly performance.
Less-than-truckload carrier XPO is seeing some of the strongest volume growth in the industry.
Old Dominion Freight Line reported modestly better trends in February compared to January but noted the market remains soft.
Less-than-truckload carrier Saia said daily shipments were up 19% in February Monday after the market closed.
Kuehne+Nagel is the largest logistics company in the world, but it wasn’t immune to downward market forces in 2023.
Air Transport Services Group is taking a more conservative approach to fleet expansion until the air cargo market picks up and customers start leasing additional freighters.
Analysts didn’t get the level of detail they were hoping for Thursday during Forward Air’s first quarterly call since its messy merger with Omni Logistics.
Forward Air’s fourth-quarter results sent shares lower in after-hours trading on Wednesday as investors hope a Thursday call will provide financial targets following a controversial merger.
Electronic freight booking and data company Freightos says a virtuous cycle of growth will enable it to become profitable within a few years.
Rising insurance costs, which were flagged by most carriers on fourth-quarter calls, present a headwind to earnings, Morgan Stanley said Tuesday.
Canadian operator Cargojet sharply scaled back fleet investments last year to stabilize the bottom line but reports the Q4 upturn in air cargo business carried over to the new year.
Volume data at Expeditors suggests that the year-on-year decline is slowing from where it was earlier in 2023.
Universal Logistics posted lower Q4 revenue in its trucking, intermodal and brokerage segments.
The downward slope in cargo revenue at Air Canada began to level out during the fourth quarter, and management is optimistic 2024 will be better for airfreight than last year.
Investment bank Piper Sandler cut its rating on trucking-focused bank Triumph Financial even as it offered praise for the company’s strategy.
Ryder has a plan in place to reduce its reliance on equipment leasing. Its progress could be seen in its earnings.
Revenue strength will likely be a second-half story for GXO.
Trimble Inc. reported fourth-quarter transportation revenue of $194 million, boosted by strong sales in North America.
Reaction to RXO’s fourth-quarter earnings has been decidedly negative, and the first quarter started off weak.
TFI International’s EPS in 2024 will be at least $7 a share, CEO Alain Bédard says
Radiant Logistics reported adjusted earnings ahead of consensus for its fiscal second quarter ended Dec. 31.
FleetCor reported fleet transaction revenue of $108 million in the fourth quarter, a 19% year-over-year decrease.
RXO’s fourth quarter was slightly better than the third, but overall, the 3PL had its challenges last year.
There isn’t much sign of an upturn in Uber Freight’s latest earnings report.
XPO’s fourth quarter exceeded expectations, and the company provided robust pricing guidance for 2024.
Less-than-truckload carrier XPO reported a better-than-expected close to 2023.
Werner Enterprises saw another step down in operations during the fourth quarter.
ArcBest continued to swap out spot freight for higher-margin shipments from core accounts during the fourth quarter.
$2 billion in fines and expenses from emissions-rigging slammed Cummins’ Q4 profit in a year of record revenues and cash generation.
ArcBest leveraged cost initiatives to beat the fourth-quarter consensus estimate.
Less-than-truckload carrier Saia will spend roughly 30% of its annual revenue buying terminals and trucks as it looks to take market share again in 2024.
Hub Group reported year-over-year decreases in its intermodal, logistics and truck brokerage segments during the fourth quarter.
Pam Transportation Services contends with an auto strike in addition to already depressed truckload demand during the fourth quarter.
Landstar System said Thursday that a recovery won’t likely occur until summer.
Schneider National reported a fourth-quarter earnings miss and a worse-than-expected 2024 outlook on Thursday.
There was little good news in C.H. Robinson’s fourth-quarter earnings.
Truck broker Landstar is seeing normal seasonally weak trends so far in January, which is worse than what analysts were hoping for.
Heartland Express’ fourth quarter benefited from large gains from terminal sales, without which the truckload carrier would have seen another loss.
Old Dominion’s fourth quarter was largely in line with analysts’ expectations even as it takes on growth-oriented costs ahead of improvement in demand.
Link Logistics records another big year of final-mile property additions in 2023.
It was a tough earnings report for Norfolk Southern, and a few Wall Street analysts let management know of their disappointment.
Sweden’s Volvo Group reported strong Q4 results but pointed to normalizing demand, code for lower sales already visible in slackening orders.
Marten Transport reported net fourth-quarter income that was more than 50% lower than a year ago.
American Airlines’ cargo results in the fourth quarter were lackluster considering the industry experienced a mini-renaissance after hitting bottom in the summer of 2023.
Knight-Swift Transportation reported a big fourth-quarter miss on Thursday, but management has hopes normal seasonality will return by spring.
Analysts at Morgan Stanley are bullish on the growth prospects for
Canadian National Railway Co.’s business units in 2024.
Humble leadership at Paccar forgoes a victory lap its as profit streak reaches 85 years with regular dividends paid out since 1941.
Covenant Logistics Group said the freight cycle is bottoming out, and it expects the market to slowly improve over the next several quarters.
Chattanooga, Tennessee-based Covenant Logistics Group’s fourth-quarter revenue declined 7.4% year over year to $273.9 million.
Truck maker Paccar Inc. reached 85 consecutive years of posting net income with record sales and profits in the fourth quarter.
United Airlines said Monday that fourth-quarter cargo results were half as bad as for the full year.
J.B. Hunt Transport Services’ fourth quarter was weighed down by insurance costs but revealed a couple bright spots at the bottom of the cycle.
Logistics real estate operator Prologis’ 2024 outlook calls for relative softness in the market during the first half of the year before rebounding.
Equities analysts have trimmed fourth-quarter truckload estimates again after the industry limped through the final days of the year.
Warehouse operator Prologis reported in-line fourth-quarter results and full-year 2024 guidance.
Delta Air Lines’ cargo business saw some improvement during the fourth quarter, but the overall enterprise performed very well, according to results released on Friday.
The upsurge in rates due to ship diversions did not come soon enough to rescue container lines’ fourth-quarter results.
FedEx’s color-coded air network is designed to bolster FedEx Express’ margins amid continued macro weakness and other headwinds.
Despite posting operating and net income gains in its fiscal 2024 second quarter, FedEx cut its full-year revenue forecast.
Less-than-truckload carrier Old Dominion Freight Line reports muted volume trends for November.
Software-as-a-service provider Descartes reported record quarterly results Tuesday and said the market is ripe for M&A.
ArcBest said tonnage declines in November were tied to efforts to unwind dynamic pricing initiatives.
Saia’s fourth-quarter update shows it is retaining the freight it onboarded as a result of Yellow’s collapse.
United Petroleum is buying Patriot Transportation in a deal that is a solid win for Patriot shareholders.
Israeli cargo reservation platform Freightos is struggling to make money in a bad freight market and now faces the extra challenge of operating in the middle of a war zone.
Global Crossing Airlines, a 2-year-old hybrid carrier that provides supplemental airlift to customers that rent the entire plane, is taking a long-term view toward cargo expansion at a time when freight demand is very soft.
Zim’s headline loss looks ugly, but most of the decline was non-cash and it still has ample reserves to weather the downcycle.
Hyzon Motors is focused on launching its 200-kilowatt fuel cell for heavy trucks now that its legal problems are mostly resolved.
Workhorse Group made progress toward scaling its electric truck business, but being shut out of California incentives dented revenue.
Old Dominion Freight Line was the latest less-than-truckload carrier to announce an early general rate increase for the new year.
Cargojet wants to dump eight aircraft that were part of of its growth strategy and postpone converting two more aircraft into cargo jets as the weak cargo market shrinks profit margins.
Flatbed carrier Daseke reported an in-line third-quarter result Thursday but reduced its full-year guidance.
Cargo volumes are holding up, but rising transport capacity is outpacing demand, pushing container shipping rates even lower.
Air Transport Services Group is slowing investment in converted freighters as a weak shipping market leads cargo airlines to pause fleet expansion.
Hyliion Holdings is throwing in the towel on its Hypertruck ERX natural gas-electric powertrain to focus on generator technology.
High numbers of migrant crossings in September disrupted freight rail operations, including Trinity Industries’ and FreightCar America’s ability to send new rail cars into the U.S., executives said on recent earnings calls.
A weaker-than-expected peak period leads GXO to cut its organic revenue growth guidance.
Revenue and earnings fell sharply at DHL’s Express and Global Forwarding units.
Daimler Truck reported lower deliveries in Q3, a contrast to its major competitors who reported higher sales but warned of a coming slowdown.
Truck brokerage RXO beat third-quarter estimates Tuesday and said it will continue to expand its platform and take market share on the downside of the cycle.
