P.A.M. Transportation says it has temporarily laid off approximately 75 employees as auto plant closures increase.
J.B. Hunt announces $500 one-time bonus for drivers and field staff serving during COVID-19 pandemic.
Morgan Stanley upgrades its freight transportation industry view from “cautious” to “in-line.” The firm lowered its earnings expectations for the group.
Americold Realty Trust plans to keep all 183 cold storage facilities “open for business.”
Citing a deterioration in market conditions, XPO announces that it is no longer looking to spin-off its separate business units.
OmniTRAX announces new CFO following several additions to the management team.
Stifel Financial sees an OK first quarter, but the picture gets less clear after that, with risks to second-quarter earnings estimates.
Amazon.com, Inc. plans to add 100,000 workers, increase hourly wages and limit items received into its fulfillment centers in response to the coronavirus outbreak.
Stifel Financial’s conference call with industry executives forecasts supply chain disruption extending to July or longer.
Negative trends in the transportation markets continued in February, according to freight data released by payment management solutions provider, Cass Information Systems Inc.
Virus-related demand headwinds bring fresh declines in February Cass data. Visibility into a potential trucking recovery is further clouded.
Carol Tomé named new CEO at UPS. David Abney to retire at the end of 2020 after a 46-year career.
Daseke expects weakness in the industrial markets and oil and gas sectors to persist. Management said the environment was sequentially weaker in the first quarter.
Chief Financial Officer Alan Graf to retire at year-end. Corporate Vice President and Treasurer Mike Lenz to assume the role in September.
XPO announces deal to buy the majority of Kuehne + Nagel’s U.K. contract logistics segment. The deal comes shortly after XPO announced plans to divest units.
Transportation and logistics software provider 3Gtms acquires cloud-based shipping software provider Pacejet.
Tonnage headwinds and better yields are the story so far in 2020. Old Dominion Freight Line reports modest revenue decline.
‘Strong sales’ in February are expected to continue through Easter. Disruptions to the company’s supply chain continue to be monitored.
Final-mile acquisitions continue. CRST adds to its service offering by acquiring NAL Group.
China’s largest ecommerce company, JD.com, not ready to completely quantify coronavirus disruption.
Final-mile smart lock provider BoxLock announces $4.5 million funding round.
FreightCar America’s fourth-quarter results highlight the weakened railcar demand environment.
PS Logistics announces that it has completed the acquisition of Southeast Logistics.
Schneider National’s new Dallas operating center set to open as the company looks to grow its active fleet.
Lowe’s sees positive sales comps in 14 of 15 regions, but full-year fiscal 2020 guidance disappoints.
ORBCOMM lowers full-year 2020 guidance given recent coronavirus developments.
The Home Depot continues to report record sales growth on the back of a “very strong” consumer.
More mergers and acquisitions in the final-mile space as Atlas Logistics acquires last-mile solution in TopHAT deal.
Americold sees “lots of occupancy opportunities” for cold storage moving forward.
Declines in Cass data accelerate but report calls for rates to inflect higher in 2020.
Walmart’s fiscal fourth quarter comes in light of expectations as holiday activity was lower than expected.
Old Dominion Freight Line announces a 4.9% general rate increase after reporting market stabilization in January.
Into its second decade of existence, Daseke pumps the brakes on acquisitions and attempts to streamline all that it has bought.
Fuel card provider WEX Inc. reports a solid fourth quarter but calls out weakness in the trucking market.
Truckload carrier heads talk demand, rates and capacity at investor conference.
Radiant Logistics reports a 25% slowdown in its last calendar quarter of 2019.
J.B. Hunt announced that CFO David Mee will retire March 1. The company will fill the interim role internally until a permanent replacement is found.
A difficult truck brokerage market appears to have stalled growth at Uber Freight compared to the third quarter. However, the operating loss narrowed significantly.
U.S. Xpress sees a path to improved profitability in 2020 and beyond. These were just some of the highlights provided on the carrier’s earnings call.
U.S. Xpress reported a better-than-feared loss to close out 2019. The company expects conditions to improve in 2020.
Werner’s management team is still pointing to a truckload recovery in 2020 but noted that the first half will be a challenge.
Manhattan Associates says demand for cloud-based supply chain services remains robust and led to a record peak season.
USA Truck’s shares fall after another earnings disappointment. New turnaround initiatives were quantified on the company’s conference call.
Cass Information Systems reports a 6% year-over-year decline in transportation invoices but manages to post another full-year earnings record.
USA Truck reports another worse-than-expected loss as it revamps the company.
Daseke updates guidance, lowering the expected fourth-quarter loss. The company’s restructuring remains on track.
Market softness, excess capacity, weak demand and soaring insurance costs and claims were the near-term challenges highlighted on Landstar’s conference call.
Landstar’s insurance and claims expense line hit first-quarter results, and another fatal accident results in guidance well below analysts’ expectations.
Schneider National’s fourth quarter suffered from a “muted peak season” and softer rates. However, the carrier’s 2020 outlook calls for improving fundamentals.
U.S. Xpress announced it has successfully refinanced its revolving credit facility, lowering the interest rates on a portion of its debt.
New Penn Motor Express files change of operations proposal with union to obtain additional workers at three new regional velocity centers.
Covenant Transportation continues to reallocate equipment to units with a lower risk profile like dedicated.
Covenant Transportation sees significant year-over-year decline in earnings as excess capacity and higher costs persist.
Spare aircraft engine dispositions stave off weakened demand for railcars in North America.
Heartland Express’ financial results were worse than expected in the fourth quarter of 2019. That said, a large acquisition shoulders more of the blame than weaker market fundamentals.
US Bank reports declines in freight payment transactions during the fourth quarter. The report signals an improvement on the horizon as truck capacity declines.
J.B. Hunt’s fourth quarter call addresses some challenges facing its brokerage and intermodal businesses.
J.B. Hunt reports lower-than-expected earnings in the fourth quarter as weaker market conditions and increased investment weigh on results.
The Cass Freight Index sees its steepest decline in shipments since the Great Recession.
Dupré Logistics and HOYER form bulk transport entity to provide supply chain services domestically and internationally.
Canadian-based carrier Highlight Motor Group receives $55 million private equity investment to accelerate North American expansion.
Universal Logistics Holdings names current head of transportation Tim Phillips as its new CEO. Phillips succeeds former CEO Jeff Rogers who “separated” from the company on Friday.
The global logistics industry is big and getting bigger.
Top 25 less-than-truckload carrier Midwest Motor Express has been acquired by Red Arts Capital and Prudential Capital Partners.
Freight All Kinds: Logistics of commercial construction looks at the shipment of commercial building materials and the “carriers” moving them.
Video telematics provider Lytx Inc. receives new financial backing from private equity group in a deal that values the company at more than $2.5 billion.
Outlook for future improvement to earnings is still hazy as Morgan Stanley analyst lowers fourth-quarter estimates for most transportation companies.
With the acquisition of RDI Last Mile Co., J.B. Hunt’s Final Mile Services group will have 104 locations and 3.2 million square feet of warehouse space.
While the truckload carriers are happy to turn the page on 2019, investors in truckload stocks may be hoping for more.
A portfolio of acquisitions culminates in a large sale. Genesee and Wyoming announces that the sale of the company has been completed.
Planned merger could create largest tank truck carrier in U.S. Heniff Transportation and Superior Bulk Logistics to merge.
The biggest truckload carrier in the U.S. Knight-Swift cuts its fourth quarter 2019 earnings outlook again. The company plans to “revise” its first quarter 2020 guidance in January.
Canadian National reports operations have returned to “normalized” levels after an eight-day work stoppage.
Cass freight data shows softness again in November. While shipment declines extend to a full year, the rate of the declines may be moderating.
Liquid and dry bulk carrier TransWood, Inc. announces the acquisition of Kane Transport and its fleet of more than 150 tractors.
Morgan Stanley eyeing truck capacity constraints and higher rates in 2020, potentially reaching 2018 levels or higher.
C.H. Robinson‘s commitment to innovation and technology secure it a spot in the top ten of the 2020 FreightTech 25 list.
Canadian National’s grain shipments gain momentum with eight-day strike in the rearview.
President and chief operating officer, Michael Gettle, who assisted in the corporate restructuring is leaving the company.
MODE Transportation announces that it has completed the acquisition of SunteckTTS.
Landstar’s strong cash flow generation and enviable balance sheet allow it to pay large special dividends even in down market years.
Cass announces two new partnerships designed to enhance the reporting and data methodology of its Cass Transportation Indexes.
Walmart seeks to bolster its online grocery business through autonomous home delivery.
Roadrunner Transportation continues to overhaul its portfolio with the sale of its flatbed unit.
Truckload stocks get an upgrade at Goldman Sachs. Analyst cites “bottoming” fundamentals and the likelihood that the trucking downturn is nearing the midway point as reasons for the upgrade.
Several management teams from North America’s largest Class I railroads were on hand to discuss current demand, their networks and the future at the Credit Suisse 7th Annual Industrials Conference.
France-based contract logistics provider ID Logistics Group SA gains access to a U.S. e-commerce platform in its acquisition of Jagged Peak.
Daimler AG announced that it has reached an agreement with employee representatives to trim its workforce by at least 10,000 workers.
North American Class I carloads increased year-over-year in week 47 on a favorable comp. The prior four-week average remains weak.
Americold Realty Trust continues to grow its temperature-controlled storage footprint through acquisition. The company looked north of the border for its latest deal.
Lowe’s announces plans to make leadership changes and close 34 stores in Canada. The home improvement retailer increased earnings guidance for fiscal 2019.
The Home Depot, Inc. reels in full year sales expectations due to timing of investment initiatives. Management expects broad-based growth to continue as consumer discretionary spending remains steady.
Third-party transportation and logistics provider MODE Transportation has acquired SunteckTTS for an undisclosed amount. The combined entity is expected to generate $2 billion in annual revenue.
Chinese e-commerce heavyweight JD.com reports strong growth across its platform, a trend the company expects to continue.
The latest Cass outlook signals “economic contraction,” but the heads at some of the nation’s largest truckload carriers see a different path.
The world’s largest retailer, Walmart, reports quarterly results ahead of expectations and raises its earnings outlook for fiscal 2020.
Radiant Logistics posts a good quarter, but warns that peak shipping season isn’t shaping up heading into the holidays.
Daseke, Inc. reports a large loss amid operational restructuring and weaker flatbed demand. The company announces new initiatives as its reorganization continues.
Demand headwinds for agricultural and transportation equipment were the factors behind Cervus Equipment’s operating loss in the third quarter of 2019.