Finance

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.

Mark Russell has been selling converted options in Nikola daily since mid-September, which is not a good look for a company CEO.

German shipping and logistics giant Deutsche Post DHL has raised its full-year profit guidance to a record of $8.38 billion.

Revenues and expenses were little changed from last year at Expeditors but profitability rose.

Forward Air said Monday it has entered into an agreement to acquire an intermodal drayage provider with locations in Mobile, Alabama, and Memphis, Tennessee.

Higher revenues in Q3 weren’t enough to offset a 30% increase in operational expenses for western U.S. rail carrier BNSF.

Werner Enterprises announced the acquisition of freight broker ReedTMS Logistics for $112.4 million. The deal also included a small dedicated carrier.

Cargo continued to dominate the passenger side at Korean Air during the third quarter.

Railcar manufacturers expressed five themes in recent earnings calls. Their consensus: There is still much to be upbeat about.

Echo Global Logistics said it has acquired Fastmore Logistics, a brokerage with a specialized carrier network and expertise selling to international freight forwarders.

Fleet growth will be held steady as the truckload carrier pivots back to a more traditional model.

The $3.3 billion acquisition of Meritor Inc. took a bite out of Cummins’ Q3 earnings as did underperforming joint ventures in China.

Europe must replace all seaborne crude imports from Russia within the next few weeks. Crude tanker owners stand to gain.

Nikola Corp. is laying off 7% of its workforce and slowing electric production because making more increases the loss.

Logistics real estate operator Link Logistics said “broad-based demand” further narrowed vacancy rates and produced record lease spreads in the third quarter.

San Francisco-based Loop wants to simplify logistics payments through a fundamentally different approach to technology.

Werner Enterprises has built a model to perform on the downside of the cycle. Management believes the carrier may be better positioned to do so than in the past.

Less-than-truckload carrier Yellow Corp. navigates second year of volume declines amid network overhaul.

Supply chain technology provider Trimble Inc.’s transportation revenue dropped 10% in the third quarter.

Maersk’s guidance implies fourth-quarter earnings will plunge 39% compared to the third-quarter peak.

Heartland Express said recent fleet acquisitions will take three years to match the level of its legacy operations.

Forwarding income from operations was nearly cut in half and truckload prices to customers fell by double digits year over year.

Cargo revenues from Sun Country Airlines’ Amazon business were flat in the third quarter.

Most politicians are clueless about supply chains, so it’s a shame when industry veteran Mike Erickson runs for Congress and pins inflation on ocean carriers.

TravelCenters of America Inc. announced Tuesday it topped $2.8 billion in revenue for the third quarter.

Product-tanker share prices are up triple digits year to date as investors position for sanctions upside.

XPO announced Tuesday that it has spun off brokerage unit RXO, which is now a separately traded company.

ArcBest beats expectations in a noisy third quarter. Tonnage declines and cost inflation during the fourth quarter will put the model to the test.

Uber Freight’s EBITDA was barely positive in the third quarter on a decline in revenue.

Truckload carriers prepare for the other side of the freight boom.

Less-than-truckload carrier Saia slightly missed third-quarter expectations and noted volumes softened as the quarter progressed.

The world’s seventh-largest ocean carrier expects profits to fall, yet its projections remain vastly higher than pre-COVID levels.

XPO Logistics’ third-quarter results were at the high end of preannounced ranges. The fourth-quarter outlook calls for continued growth but with some cost pressures.

Air Canada has extra cargo capacity thanks to its first freighters, but that didn’t prevent a 23% fall in cargo revenue in the third quarter.

Daimler Truck now thinks it will earn more money in 2022 because parts shortages are improving and its backlog-to-build schedule is shrinking.

Ruan announced the acquisition of Michigan-based regional carrier NTB on Friday.

In the first earnings call since its AB5-driven deal with the Teamsters, Universal CEO Tim Phillips speaks positively about its impact.

TFI posts strong third-quarter results and boosts its dividend by 30%. But much of the focus is on the work in progress at T-Force Freight.

Traton Group relied on Navistar to boost nine-month sales by 11% while a litany of industry issues pressured income.

Lufthansa Airlines’ cargo subsidiary continued to earn profits during a difficult third quarter, even as the market softened.

Hub Group reported year-over-year increases in its intermodal, logistics and truck brokerage segments during the third quarter.

Amazon reported a third-quarter sales deceleration that it says will persist into the holidays.

Canadian Pacific is working to ensure that merging operations with Kansas City Southern goes smoothly, officials said during the railway’s third-quarter 2022 earnings call.

Schneider National beat expectations for the third quarter but pulled in guidance as peak season is likely to be “muted.”

Forward Air highlights several growth opportunities that will push results higher again in 2023 even if the economy slows further.

Faster train speeds and shorter dwell times will open up network capacity for NS, officials said during the company’s third-quarter 2022 earnings call.

Used truck prices helped Ryder in comparison to last year, but the market is weak going forward.

Kuehne+Nagel is the largest logistics company in the world. It sees opportunities to capture more business as shipping demand falls.

Trailer and final-mile equipment maker Wabash crushed third-quarter earnings estimates and built its backlog for a rainy day.

Most of the commentary from management teams is pessimistic about the macroeconomy.

Old Dominion said Wednesday that it’s likely more than half way through this volume downturn.

CN expressed confidence it can handle any market downturns, pointing to areas such as grain and coal where demand strips away any potential macroeconomic softness, officials said during the railway’s third-quarter 2022 earnings call.

The maker of Kenworth, Peterbilt and DAF Trucks reported record Q3 net income on strong across-the-business performance.

UPS reported higher-than-expected earnings per share and reaffirmed its full-year targets.

Grammer Logistics said Monday it has acquired Logistics Management Resources, a 3PL serving the chemicals and industrial gases industries.

Rallying employees to serve customers better will ultimately help CSX gain more business, the new president and CEO said during the company’s third-quarter earnings call Thursday.

Truckload carrier P.A.M. Transportation Services reported better-than-expected third-quarter results on Thursday after the market closed.

UP is keeping a “growth mindset” as it looks to 2023 despite economic headwinds and an unresolved labor situation.

Covenant Logistics announces in its third-quarter earnings release that Paul Bunn will be president and COO in the latest management changes.

Some numbers at the new network at TriumphPay were lower, but other key indicators were on the rise.

“LuckyTruck would not be where it is today without Julie,” said founder and President Devin Bostick of new CEO Julie Zimmer.

Volvo Group posted solid Q3 results but said ongoing supply chain issues will cause shutdowns and raise prices.

The air cargo market’s deceleration this year had a greater impact on third-quarter cargo revenues at American Airlines than its primary rivals, Delta and United Airlines. But the best revenue […]

Broker Landstar System reported another strong performance in the third quarter. However, the company now comps to the peak of the freight boom.

Two driver/warehouse worker strikes against Sysco are either over or likely to end soon.

Knight-Swift Transportation missed analysts’ forecasts for the third quarter and dialed down expectations over the near term.

Tesla aims to build 50,000 units of the Semi all-electric Class 8 truck by 2024 at its factory in Nevada.

Logistics warehouse operator Prologis lowered expectations for 2022 but remains confident that any macro-induced decline in fundamentals won’t keep rents from growing again next year.

Prologis posted record results during the third quarter but reeled in guidance given “an uncertain economic backdrop.”

J.B. Hunt Transport Services beat third-quarter expectations Tuesday but said that cooling freight demand will place greater scrutiny on cost control moving forward.

United Airlines continues to deliver strong cargo results each quarter even as global trade softens.

RXO, the stand-alone brokerage company about to be spun off by XPO, has received a near-investment-grade rating from S&P.

J.B. Hunt Transport Services beats third-quarter expectations on improved intermodal and dedicated results.

Better Tomorrow Ventures’ Jake Gibson says LogRock is “well positioned to help fleets save real money by staying off the FMCSA’s radar and steering clear of avoidable court cases.”

XPO Logistics issued long-term financial targets for its less-than-truckload segment and its brokerage unit, which will be spun off next month.

First-to-report Marten was solidly better than a year ago but with some signs of a slowdown from the second quarter.

Higher interest rates and a cautious macro outlook have curbed logistics warehouse growth but have hardly stomped it out.

The federal government made SPAC-sponsored Nikola founder Trevor Milton an example of corporate greed. Will others follow?

Nikola founder Trevor Milton on Friday was found guilty of three counts of fraud and will be sentenced Jan. 27.

Delta Air Lines’ cargo division had a Goldilocks third quarter: not too cold and not too warm.

TruckWings, the aerodynamic invention of Daniel Burrows, has more value than just the half-billion miles of on-road experience.

The Trevor Milton fraud trial heads for jury deliberations Friday following invective-tinged final arguments.