Finance

Amazon posts solid revenue but retreats on operating and net income.

The tanker industry has a storied history of corporate showdowns. The latest, a three-way tussle involving Euronav, looks far from over.

Jones Logistics said Thursday it has acquired dedicated carrier Nationwide Express.

The day after C.H. Robinson announced disappointing fourth-quarter earnings, the analyst community showed little optimism for the 3PL leader’s near-term future.

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

Aligning with certain customers on long-term supply agreements helped Wabash post Q4 and full-year records.

Freight broker Landstar System sees a rocky road in the first half of 2023, with normal seasonality returning by summer.

Hawaiian Airlines faces some headwinds in 2023, including some extra temporary costs to prepare for new business flying freighters for Amazon.

Interim CEO Anderson says cost savings target is $150 million by the end of the year; Global Forwarding drags down Q4 earnings.

Amid falling tonnage throughout the less-than-truckload complex, Old Dominion posts another large earnings beat.

Canadian Pacific is waiting for the Surface Transportation Board to render its decision on the proposed merger with Kansas City Southern. In the meantime, CP has been conducting interline tests to see how its service might compare to similar truck lanes.

XPO, on its way to becoming a pure-play LTL carrier, received an upgrade in its debt rating from S&P Global Ratings.

ONE’s profit dropped by 50% quarter over quarter to $2.76 billion.

German ocean shipping company Hapag-Lloyd said its earnings before interest, taxes, depreciation and amortization jumped by $7.6 billion year over year.

Logistics warehouse operator Link Logistics reports high occupancy and rents during the fourth quarter.

Rail car manufacturer and lessor GATX sees a strong secondary market and continued demand for rail cars to help support the company this year.

Triumph Financial hit a significant milestone in the business it built from the acquisition of HubTran, but TriumphPay’s EBITDA worsened.

Container drayage TMS provider PortPro said it raised $12 million to expand tech capabilities on its platform.

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

American Airlines generated strong cargo sales in 2022 even as market conditions deteriorated.

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.

Like the other Class I railroads, CSX is bracing for macroeconomic headwinds in 2023. But continuing service improvements will lend support to the company, executives said during CSX’s fourth-quarter earnings call.

Volvo Group set a fourth-quarter record for deliveries, but the OEM said supply chain disruptions and energy costs would impact business.

FreightTech startup Freightos is raising money through a public offering rather than seeking venture capital.

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

Inflation and other macroeconomic headwinds figure into Norfolk Southern’s projections for 2023. Volume growth is also a big unknown, executives said during NS’ fourth-quarter 2022 earnings call Wednesday.

FitzMark announced Wednesday it has completed its seventh acquisition in the last four years.

CN will adjust its operating plan to run faster and potentially shorter trains and concentrate on courting customers where network capacity is available, executives said on the railway’s fourth-quarter 2022 earnings call.

On Union Pacific’s list of resolutions for 2023 are plans to improve rail service, enhance quality of life for craft employees and achieve productivity gains, according to executives on the railroad’s fourth-quarter 2022 earnings call Tuesday.

Paccar Inc. posted record revenue and profits across the board in the fourth quarter, belying predictions of an economic slowdown.

“We are proud to be part of this first-in-history interoperability launch between eBOL platforms,” said CargoX founder and CEO Stefan Kukman.

Uber Freight is cutting about 3% of its workforce, all of the jobs coming out of its digital brokerage activities.

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

The first freight sentiment indexes in 2023 show eroded near-term freight market expectations but signs of a more balanced landscape on the way.

The government opposed a new trial for Nikola Corp. founder Trevor Milton, dismissing his allegations of juror misconduct.

“Terminal49’s automation has saved us thousands of dollars a year, but more importantly it’s helped improve customer trust,” said Trade XCelerators’ Spencer Strader.

United Airlines saw cargo revenue dip but exceeded financial expectations in the fourth quarter.

Prologis says warehouse rents will step higher again in 2023.

Management from J.B. Hunt sees the potential for a rebound in freight markets by the back half of 2023.

J.B. Hunt recorded a huge headline miss in the fourth quarter. However, excluding what may be a nonrecurring claims expense, the result was more subdued.

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

Delta Air Lines carried more than $1 billion in cargo below passengers’ feet last year, setting a company record.

Supply chain financing is a major way that corporate behemoths keep cash flow humming. This tool is about to get its moment in the spotlight. 

E2open, a publicly traded supply chain software provider, reveals earnings that provide a look into the state of the industry.

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

Reducing costs and shifting supply chain conditions were among the reasons why rail car manufacturer Greenbrier is ceasing production at its longtime Portland, Oregon, facility.

AskWaves looks at how recent changes requiring disclosure of supply chain finance programs could impact shippers.

NOVA Infrastructure has announced it added another port drayage provider serving the Port of Charleston to its portfolio.

Forward Air announced it will buy fellow expedited less-than-truckload provider Land Air Express in a $56.5 million transaction.

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

For a series of convoluted reasons, a ratings agency has changed its outlook on flatbed operator Daseke.

As FetchGoat began to grow, co-founder and CEO Bill Hale had one strategic investor in mind.

A $240,000 incentive from California plus other subsidies could bring parity between a Nikola fuel cell truck and a diesel rig.

FedEx Express is looking to trim fat at the largest cargo airline in the world and lean on rental fleets to fill in needs.

Triumph Financial’s shares are cut to a sell level at Wells Fargo on a still lengthy wait for a payoff at TriumphPay.

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

FedEx must convince stakeholders that it will stay the course on cost reductions.

FedEx’s 2023 second-quarter results proved its ability to quickly slash costs but also showed the damage a demand slowdown is inflicting on its top line.

Lazer Logistics said Tuesday it has acquired the yard shuttling operations from Colorado-based Preferred Cartage Trucking Services.

Even though the final piece of XPO’s breakup has been put on hold, the company’s bullish growth ambitions for less-than-truckload have not changed.

3PL Neovia has a higher debt rating from S&P but it still has a significant debt load.

Major auto hauler United Road saw its already-low debt rating affirmed, but the outlook was cut to negative as it continues to generate negative free cash flow.

Logistics M&A experts at a Benesch law firm conference don’t see any significant downturn in activity even as the freight market slows.

ArcBest announced CFO David Cobb will retire in October 2023.

Yellow is seeing large tonnage declines continue as the fourth quarter advances.

Big numbers tied to electric infrastructure released this week reinforce the chicken-and-egg cliche about electric trucks.

Asset-light less-than-truckload provider Forward Air sees tonnage fall off sharply in November.

Descartes said demand for supply chain visibility tools remains strong amid uncertainty in the broader economy.

RXO, spun off Nov. 1, released its third-quarter earnings to the SEC for its first stand-alone numbers.

ContainerPort Group’s parent World Group announced the acquisition of distribution and trucking company Pacific Cascade.

Less-than-truckload tonnage declined at an accelerated pace through November.

The deceleration in less-than-truckload tonnage during the fourth quarter is worse than analysts expected.

The BMO transportation group’s quarterly results represent a key indicator of trucking industry economic health, but there has been no significant downturn yet.

Rail and truck TMS plans to add ocean and barge.

OneRail plans to scale sales, marketing and data science.

Atlas Air, a large cargo airline and lessor, is one step closer to becoming a private company after a shareholder vote.

3PL company Neovia has a new capital structure, but S&P Global Ratings still views it as having a large hill to climb.

Bluejay Capital Partners has acquired Atlanta-based 3PL Best Warehousing and Transportation for an undisclosed amount.

“The procurement of industrial products and spare parts is at a critical crossroads as the global supply chain is faced with unprecedented headwinds,” said Chris Lawrence, managing partner at Labyrinth Capital Partners.

Expeditors’ stock is too high priced, Wells Fargo says, as it cuts its rating to a level tantamount to “sell.”

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

Less-than-truckload demand has taken another step lower, according to carriers attending the Stephens investor conference.

Earnings for Zim, the world’s 10th largest ocean carrier, peaked in the first quarter and continue to slide as rates fall.

“We will continue our ecosystem expansion, powering even more flexibility in quoting and securing capacity as well as some tactical expansion into additional modes and methods of transportation,” said Greenscreens.ai CEO Dawn Salvucci-Favier.

A recent FreightWaves Research survey found strong consensus among carriers and brokers/3PLs that spot rates are still a few months from hitting bottom, but that they’ll start to climb again in the second half of 2023.

The latest round of funding for Attabotics supports the 3D robotics firm’s goal to revolutionize legacy fulfillment centers across the supply chain industry.

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

“We strategically positioned our carriers six months ago for the freight they are hauling today,” said the company’s senior director of capacity, Ivan Momchilov.

How does nearly three years as a nuclear machinist’s mate in the U.S. Navy prepare someone to be CEO of Wabash?

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

Container shipping fundamentals are not as bad as spot rates imply, says the head of the world’s fifth-largest ocean carrier.

“Container demand is expected to be under downward pressure due to considerable uncertainties,” HMM said in its third-quarter earnings release.

Radiant Logistics said Wednesday it needed more time to complete a restatement of financials and submit results to the SEC.

The U.S. Postal Service posted declines in package-delivery revenue and volume.

RoadSync and Fullbay have a deal that should assist in more rapid payments at repair shops.

In a stunning announcement, an analyst and his company that could be seen as skeptical of XPO’s prospects won’t be tracking the company moving forward.

Contract logistics giant GXO posts a better-than-expected earnings per share and affirms its full-year targets.

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.

High utilization rates show a demand for rail cars, executives for FreightCar America said during a third-quarter 2022 earnings call Tuesday.