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Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.
Jul - 2023 -
23 July
Todd Maiden

No strike at Yellow; Central States grants extension

Central States extends health insurance coverage for Teamsters employees, averting a planned Monday strike at less-than-truckload carrier Yellow Corp.

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21 July
Todd Maiden

Yellow loses attempt to stop strike

A Kansas judge on Friday denied Yellow Corp.’s request to halt a strike by the Teamsters, which the company says will force it into bankruptcy.

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Todd Maiden

Yellow’s fate likely in hands of Kansas district court

A U.S. district court in Kansas may ultimately determine Yellow’s fate on Friday.

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20 July
Todd Maiden

Knight-Swift reels in 2023 outlook after poor Q2

Knight-Swift Transportation called out several headwinds facing its businesses as reasons to meaningfully lower its 2023 earnings guidance.

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Todd Maiden

Pam Transportation sees earnings fall 60% in Q2

Pam Transportation Services reported a sharp decline in earnings during the second quarter.

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19 July
Todd Maiden

Yellow blames Teamsters for liquidity crunch, union barks back

Less-than-truckload carrier Yellow Corp. says it’s the union’s fault for its cash-strapped predicament.

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Todd Maiden

XPO announces CFO change

Less-than-truckload carrier XPO said its chief financial officer is leaving and that it has filled the role internally.

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Todd Maiden

Uber Freight temporarily suspends loads to Yellow

Truck broker Uber Freight said Wednesday it has decided to stop placing loads with Yellow Corp. as the carrier faces a potential worker strike.

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18 July
Todd Maiden

Teamsters issue strike notice at Yellow

Teamsters issued a strike notice at Yellow shortly after the carrier said it would defer two months of required benefits contributions.

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Todd Maiden

J.B. Hunt still working through bottom of cycle

J.B. Hunt Transport Services missed second-quarter expectations Tuesday and said it is still uncertain how peak season will play out.

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Todd Maiden

Yellow not paying — yet — even as potential strike looms

In a statement Tuesday evening, Yellow Corp. said it would defer health and pension contributions as planned.

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Todd Maiden

Prologis beats Q2 expectations, lowers rent growth forecast

Logistics real estate giant Prologis beat second-quarter estimates Tuesday but lowered its rent growth forecast for 2023 as the market cools from peak activity.

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17 July
Todd Maiden

Strike risk rises as Yellow punts on more than $50M in required contributions

Documents revealed late Monday show Yellow Corp. has missed required contributions for June and plans to withhold July payments.

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06 July
Todd Maiden

Q2 likely ‘peak pain’ for trucking companies, Morgan Stanley says

Earnings estimates for truckload and less-than-truckload carriers get a notable negative revision at Morgan Stanley.

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05 July
Todd Maiden

Supply chain index hits new low; some green shoots noted

The Logistics Managers’ Index registered another all-time low in June as inventories throughout the supply chain continued to contract.

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Todd Maiden

Knight-Swift lowers Q2 expectations, closes on U.S. Xpress deal

Knight-Swift provided a second-quarter earnings warning on Wednesday while also confirming the closing of the U.S. Xpress acquisition.

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01 July
Todd Maiden

Teamsters at ABF Freight ratify new labor deal

Less-than-truckload carrier ABF Freight announced a new five-year collective bargaining agreement has been ratified by its union employees.

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Jun - 2023 -
30 June
Todd Maiden

Yellow calls on White House to get Teamsters to table

Yellow Corp. sent a letter to the White House on Thursday seeking assistance in negotiating with the Teamsters.

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28 June
Todd Maiden

Analysts contemplate a Yellow bankruptcy

Some Wall Street analysts weigh in on which less-than-truckload carriers would most likely pick up the slack if Yellow shuts down.

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27 June
Todd Maiden

Yellow running out of options, sues union for $137M

Shares of Yellow Corp. plummeted Tuesday as a lawsuit against Teamsters revealed the company’s options are dwindling and it will be out of cash in a few weeks.

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26 June
Todd Maiden

Prologis acquires $3.1B warehouse portfolio from Blackstone

Logistics warehouse owner Prologis announced Monday the $3.1 billion acquisition of an industrial real estate portfolio owned by Blackstone.

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23 June
Todd Maiden

NMFTA touts success of electronic BOLs ahead of implementation date

The National Motor Freight Traffic Association said less-than-truckload industry participants are seeing benefits from using electronic bills of lading.

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22 June
Todd Maiden

XPO finishes expansion project in Salt Lake City

XPO announced the completion of a capacity expansion project in the Western part of its network.

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21 June
Todd Maiden

Yellow asks to defer health care, pension contributions

Less-than-truckload carrier Yellow Corp. has asked pension and health and welfare fund plan administrators for a two-month extension.

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20 June
19 June
Todd Maiden

How companies are taking control of their supply chain costs

Some brands are looking to their supply chain to gain a competitive advantage.

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16 June
Todd Maiden

ABF’s new labor deal calls for $6.50 hourly wage increase by 2027

ABF Freight has outlined the details of its new labor agreement with its union employees.

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15 June
Todd Maiden

RXO continues to perform as cycle inflection lingers

Broker RXO said it was continuing to execute on longer-term goals even as the freight market awaits the next catalyst.

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14 June
Todd Maiden

J.B. Hunt still waiting for market recovery

Management from J.B. Hunt said it needs to see more data before making a call that the industry is exiting a freight recession.

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13 June
Todd Maiden

Freight shipments, spend see largest y/y declines in nearly 3 years

Freight volumes and spending fell sharply in May, but Cass Information Systems maintains an outlook that the bottom of the cycle is near.

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Todd Maiden

Teamsters not ‘bailing out’ Yellow again, unmoved by carrier’s finances

The latest exchange between the Teamsters union and Yellow Corp. suggests the carrier is running out of time and money.

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09 June
Todd Maiden

Yellow’s tonnage remains in free fall

Less-than-truckload carrier Yellow reported another large drop in volumes Friday after the market closed.

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Todd Maiden

ArcBest sees revenue gap lower y/y in Q2

ArcBest holds on to tonnage growth in the April-May period but yields take a notable step lower.

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08 June
Todd Maiden

ArcBest’s chief yield officer steps down

ArcBest announced Thursday that its chief yield officer is stepping down and will be replaced internally.

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07 June
Todd Maiden

Canadian cold chain companies combine

Trappers Transport announced Wednesday it has acquired Plett Trucking in a deal that combines two Winnipeg, Canada-based temperature-controlled transportation and logistics providers.

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Todd Maiden

ABF Freight, Teamsters reach tentative labor deal

Less-than-truckload carrier ABF Freight announced Wednesday that it reached a tentative labor agreement with the Teamsters.

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Todd Maiden

Surging investment in Mexican logistics warehouses only the ‘first wave’

Prologis said the recent interest in logistics space in Mexico is just the beginning of what could be decades of demand.

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06 June
Todd Maiden

Forward Air’s tonnage declines cool as Q2 advances

Less-than-truckload provider Forward Air said Tuesday that demand momentum has improved as the second quarter has progressed.

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Todd Maiden

Yellow, Teamsters point fingers; parties still far apart on deal

Yellow and the Teamsters appear to be moving further apart on reaching a deal anytime soon.

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Todd Maiden

XPO’s tonnage dips again in May, inflects higher from Q1

Less-than-truckload carrier XPO reported another modest tonnage decline in May, which was in line with trends at Saia and much better than Old Dominion’s report.

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Todd Maiden

Transportation prices fall at fastest-ever pace in May

The Logistics Managers’ Index registered contraction for the first time ever in May as transportation-related metrics weighed heavily on the data set.

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05 June
Todd Maiden

Old Dominion sees tonnage plummet again in May

Less-than-truckload carrier Old Dominion reported no seasonal inflection in volumes during May but continued to push yields higher.

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02 June
Todd Maiden

Saia’s Q2 update suggests worst of downturn in rearview

Less-than-truckload carrier Saia reported second-quarter volume metrics on Friday that imply a high-single-digit sequential increase in tonnage from the first quarter.

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01 June
Todd Maiden

Northeast LTLs combine: RIST Transport acquires AMA Transportation

RIST Transport acquired less-than-truckload peer AMA Transportation in a deal that creates a major regional player in the Northeast, according to an industry insider.

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Todd Maiden

Ikea buys US-based supply chain software services platform

Ikea announced it has acquired cloud-based supply chain and warehouse management software provider Made4net.

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May - 2023 -
31 May
Todd Maiden

Descartes sees February as cycle low point

Supply chain visibility provider Descartes beat first-quarter estimates, and management said they are optimistic about recent trends.

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Todd Maiden

Private equity acquires Southeastern waste, industrial haulers

Alterna Equity Partners announced Wednesday the acquisition of waste and industrial materials carriers Attaway Hauling and Choice Bulk Carriers.

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23 May
Todd Maiden

No seasonal uptick in May forces Landstar to lower guidance

Freight broker Landstar cut its second-quarter revenue and earnings guidance as volumes and revenue per load were worse than expected halfway through the period.

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Todd Maiden

Worldwide Logistics Group expands customs brokerage in California

Forwarder Worldwide Logistics Group announced it has acquired customs brokerage P. W. Bellingall.

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Todd Maiden

J.B. Hunt, Schneider still waiting for intermodal demand to turn

Intermodal executives from J.B. Hunt and Schneider are hopeful for improving demand in the second half of 2023 but acknowledge it’s still too early to tell.

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22 May
Todd Maiden

Bulk hauler Trimac makes 2nd acquisition of 2023

Trimac Transportation completes the acquisition of propane and butane carrier Transport Sylvain Lasalle.

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Todd Maiden

R&R Express acquires North Carolina carrier Taylor Transportation

Transportation and logistics conglomerate R&R Express announced its second deal of the year on Monday.

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18 May
Todd Maiden

Brokers, forwarders adjust course as market softens

An annual survey from Descartes shows how brokers and forwarders are adjusting to the downside of the cycle.

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17 May
Todd Maiden

Roadrunner cuts transit times on more lanes

Roadrunner announced Wednesday further enhancements in many of the less-than-truckload lanes it operates.

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16 May
Todd Maiden

Yellow’s credit ratings fall as negotiations with union continue

Less-than-truckload carrier Yellow Corp. sees its credit ratings fall further as it attempts to hash out a deal with the Teamsters.

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15 May
Todd Maiden

Shipments, costs decline further in April but inflection coming, Cass says

Data published Monday from freight payments provider Cass says the industry may be close to entering a new cycle.

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12 May
Todd Maiden

Cross-border LTL Q&A with FreightPlus SVP

AskWaves looks at how cross-border LTL demand may change as supply chain maps are redrawn.

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10 May
Todd Maiden

Radiant pushes shareholder value creation as freight market bottoms

Radiant Logistics said it will continue to use free cash flow and potentially debt to fund share repurchases and acquisitions.

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09 May
Todd Maiden

Flatbed carrier Daseke says no ‘clear visibility’ into recovery, lowers 2023 outlook

Daseke pulled in its full-year 2023 outlook on Tuesday as the freight market has failed to yield normal springtime demand improvements.

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05 May
Todd Maiden

Americold ups 2023 outlook following cyberattack

Cold storage provider Americold raised 2023 guidance even though it remains uncertain how much a recent cyberattack will impact results.

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04 May
Todd Maiden

XPO beats Q1 expectations, eyes $50M in labor cost savings

Less-than-truckload carrier XPO reported better-than-expected first-quarter results and said it remains on track to achieve long-term profitability targets.

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03 May
Todd Maiden

Yellow posts Q1 loss as it negotiates operational changes, labor deal

Less-than-truckload carrier Yellow Corp. recorded a net loss during the first quarter as it attempts to overhaul its network.

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02 May
Todd Maiden

Forward Air dials down 2023 outlook but sees ‘real improvements’

Forward Air noted some optimism in its lowered outlook on Tuesday, saying recent customer conversations have been promising.

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Todd Maiden

Supply chain index hits all-time low in April

The Logistics Managers’ Index hit a new low in April as transportation metrics weighed on the data set.

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01 May
Todd Maiden

Mullen Group acquires LTL, TL provider B. & R. Eckel’s Transport

Canadian trucking and logistics provider Mullen Group announced the acquisition of less-than-truckload and truckload carrier B. & R. Eckel’s Transport.

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Apr - 2023 -
28 April
Todd Maiden

Saia’s stock pops 15% on lone LTL earnings beat

Saia’s revenue trends in April are much better than its less-than-truckload peers.

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Todd Maiden

ArcBest defends dynamic pricing strategy

ArcBest on Friday stood by its strategy to take on lower-margin business.

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27 April
Todd Maiden

Bulk carrier Trimac acquires AIP Logistics

Trimac Transportation said Thursday it has completed the acquisition of AIP Logistics.

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Todd Maiden

Schneider pushes out freight recovery timetable, lowers guidance

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

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Todd Maiden

Landstar sees April step down but says bottom is near

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

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26 April
Todd Maiden

Old Dominion’s Q1 miss sends LTL stocks lower

Old Dominion said Wednesday that volumes have stagnated and some of its customers are pushing back on pricing.

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25 April
Todd Maiden

Teamsters add seat on Yellow’s board

Yellow Corp. has approved the Teamsters’ selection to the company’s board of directors.

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24 April
Todd Maiden

Pam Transportation’s Q1 earnings fall by half

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

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Todd Maiden

Yellow, Teamsters to hash out operational changes by reopening NMFA early

Yellow confirms that it has asked the Teamsters to open up the National Master Freight Agreement a year early as talks around proposed network changes have stalled.

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21 April
Todd Maiden

Schneider will be strategic carrier on CPKC north-south intermodal line

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

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20 April
Todd Maiden

Knight-Swift resets expectations for 2023 after rough Q1

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

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Todd Maiden

XPO adds another Old Dominion veteran to roster

XPO fills vacant chief operating officer role with an Old Dominion veteran.

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18 April
Todd Maiden

Prologis says ‘market is going to tighten up again’

Logistics real estate operator Prologis believes headwinds facing the supply side will prop up occupancy and rents into 2024.

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Todd Maiden

Prologis’ Q1 report, full-year guidance largely in line

Warehouse operator Prologis reported first-quarter results in line with expectations Tuesday.

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17 April
Todd Maiden

‘Freight recession’ snares J.B. Hunt in Q1

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

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Todd Maiden

J.B. Hunt’s Q1 misses expectations

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

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15 April
Todd Maiden

Freight shipments, costs sag in March

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

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13 April
Todd Maiden

Container lessor Triton to go private in $13.3B deal

Triton International entered an agreement to be acquired for $13.3 billion by Brookfield Infrastructure Partners.

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11 April
Todd Maiden

Truckload rates ‘tumbling’ in Q2, report says

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.

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10 April
Todd Maiden

Morgan Stanley sees freight upcycle nearing

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

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Todd Maiden

Forward Air adds drayage outpost to serve Port Newark

Forward Air said Monday it is adding an intermodal drayage operation in Linden, New Jersey, to serve Port Newark.

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06 April
Todd Maiden

ArcBest names new CFO

ArcBest announced Thursday that Treasurer Matt Beasley will assume the role of chief financial officer in May.

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Mar - 2023 -
30 March
Todd Maiden

Yellow accuses Teamsters leadership of negotiating in ‘bad faith’

Yellow Corp. calls out Teamsters union officials for negotiating in bad faith and says it has the votes to push through its proposed operational changes.

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27 March
Todd Maiden

Radiant Logistics completes restatement of financials

Radiant Logistics said Monday it has completed a financial restatement process that resulted in very minor changes.

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Todd Maiden

Teamsters tell Yellow no more purchased transportation

The Teamsters union fires another shot at Yellow Corp. in a battle over proposed changes to operations.

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26 March
Todd Maiden

What is NMFTA and what does it do?

AskWaves takes a look at the trade group that sets freight classifications for the less-than-truckload industry and where it’s headed.

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23 March
Todd Maiden

Teamsters reject Yellow’s proposed changes again

The Teamsters union said Thursday it has rejected less-than-truckload carrier Yellow Corp.’s plan to restructure operations at more than 200 terminals.

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Todd Maiden

RLS Logistics grows cold storage footprint in Midwest

Temperature-controlled warehouse operator RLS Logistics has planted a flag in the Midwest.

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21 March
Todd Maiden

Knight-Swift to remain on M&A prowl, still looking at LTL targets

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

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Todd Maiden

Knight-Swift sigue al acecho de las fusiones y adquisiciones y busca objetivos de LTL 

La adquisición de U.S. Xpress por 808 millones de dólares no frenará sus planes de crecimiento

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20 March
Todd Maiden

‘Crunch time’ for trucking as Q1 nears close

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

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