Finance

Forward Air announced the first West Coast addition to its drayage franchise with the acquisition of Edgmon Trucking.

FreightWaves founder and CEO Craig Fuller analyzes the impact of rising diesel costs on the spot market and the trucking industry.

Air Transport Services Group seems to have immunized itself from air cargo volatility by leasing aircraft to e-commerce shippers and U.S. government personnel.

Universal Logistics saw improvement across all of its asset-light segments during the first quarter. Its updated guidance may prove conservative.

With first-quarter earnings pretty much all in the book, Todd Fowler of KeyBank discusses how trucking performed in a strong quarter.

Atlas Air’s cargo business is on a steep growth path this year and ongoing fleet investments indicate management’s confidence in the future.

The pain at the pump keeps getting worse. Bad news for consumers. Good news for owners of refined product tankers.

Truckload carrier U.S. Xpress turned in a quarter that was roughly breakeven, but some of the numbers from its Variant initiative deteriorated significantly.

Fleetcor’s reported first-quarter earnings Thursday include a steady retention rate of 93%.

Rate hikes and a slowdown in online deliveries hit U.S. Postal Service demand in the second quarter.

Electric truck maker Nikola posted its first gross profit in Q1 and racked up orders backed by California incentives.

Supply chain technology provider Trimble reported record revenue for the first quarter of 2022.

Echo Global Logistics announced its first acquisition since being taken private last year. It signed an agreement to acquire temperature-controlled services provider Roadtex Transportation.

Trucking executives at large fleets acknowledged a weakening spot market during the first-quarter earnings season but their ties to the contract market give them confidence.

Revenue seen growing by 11% to 15%, up from 8% to 12%; CEO sees growth across all verticals.

Aided by the acquisition of Transplace last year, Uber Freight posted positive EBITDA for the first quarter.

‘Right now, we don’t see a huge buildup of volumes because of the closedown in Shanghai,’ reports Maersk CEO Soren Skou.

Traton Group is glad it bought Navistar when it did. The U.S. truck and bus maker is helping offset war and other issues at the German holding company.

Paxafe closes on additional $1.5 million round led by Venture 53 with participation from Value Chain Ventures, project44’s Jett McCandless and Metafora’s Peter Rentschler.

Werner Enterprises continues to see solid contractual rate increases. However, it warned that newly minted carriers dependent on the spot market are likely in trouble.

TuSimple, the autonomous truck developer is delaying its purpose-built driverless truck to 2025 while slowing its roll in other areas.

New container prices, new production, lease rates, lease durations and used container prices are all down.

Management from flatbed provider Daseke said April was “strong,” a continuation of the better-than-expected performance it recorded in the first quarter.

Freight forwarding, supply chain and express units see strong trade-related demand.

Transportation capacity grew for the first time since May 2020, according to a monthly supply chain survey.

Expeditors suffered a serious cyberattack in the first quarter, with a loss of volume, but still managed to make more money than the first quarter of 2021.

Cummins Inc. expects to keep raising prices to stay ahead of inflation in the materials it buys for engines and powertrains.

Freight brokerage firm C.H. Robinson had its debt rating affirmed by Moody’s, with the agency seeing “disciplined” finances at the 3PL.

Nikola is raising money to scale its production of electric trucks through sales of new stock and tapping an equity line of credit.

LTL trucker Saia set several first-quarter records in its earnings report, and it will add 10 to 15 new terminals this year.

Higher revenues contributed to increased profits in the first quarter for BNSF.

Craig Fuller explains the impact of higher diesel prices on the U.S. economy and consumers.

TFI CEO Alain Bédard may want to set TForce Freight wages based on worker geographies instead of one uniform structure in upcoming talks with the Teamsters.

USA Truck posted its seventh consecutive quarter of record earnings Thursday and expects 2022 to be another record year, James Reed, president and CEO, said during a call with analysts Friday.

Management from ArcBest said positive yield actions are allowing it to keep reinvesting in the network, which will continue to improve service and margins.

On an earnings call with analysts, Covenant Logistics execs talked about the strong quarterly performance but noted that costs beyond fuel continue to rise.

Customers are keen to lock in capacity for the year and mitigate risk, executives said during Hub Group’s first-quarter 2022 earnings call.

ArcBest easily beat first-quarter expectations Friday. The positive revenue trends have carried through April.

Net sales hit the high end of estimates; shares get whacked in after-hours trade.

Arkansas-based USA Truck produced the best first-quarter earnings per share in the company’s 29-year history and the seventh consecutive quarter of record earnings.

Schneider beat estimates and raised full-year expectations Thursday. Management has been “encouraged” by contractual rate renewals so far this year.

Canadian Pacific believes its acquisition of Kansas City Southern is still on pace to receive federal approval sometime early next year.

Forward Air beat first-quarter expectations and pulled forward 2023 financial targets by a full year.

E2open has completed its first full year as a public company with good numbers, although the stock price is lagging.

Robinson’s global forwarding network, years in the making, is having its moment in the sun.

truckload carrier Covenant Logistics had record-breaking net income for the first quarter, with improved operating ratios in its key trucking segments.

The operating plan, which builds upon the precision scheduled railroading-inspired initiative for NS’ manifest network, will be launched sometime late in the second quarter of this year.

A congressional report alleges then-President Donald Trump may have pushed the Defense Department to approve a pandemic loan to help gain Teamsters support in the 2020 election.

Less-than-truckload carrier Old Dominion beat first-quarter expectations Wednesday. The company moved one step closer to doing “something that they said couldn’t be done.”

“There’s been a big shock in the supply chains, and we’re working very hard to get our rhythm back and our operation back and to serve our customers well,” says new CEO Tracy Robinson.

Ryder’s earnings rose sharply over the first quarter of 2021, with used truck sales a significant contributor to profitability.

UPS persevered through a drop in demand during the first quarter, beating analysts’ profit estimates.

Q1 sales and earnings at the parent of Kenworth, Peterbilt and DAF Trucks posted records despite persistent supply chain issues.

Flatbed truck operator Daseke is being told it should buy back its own stock in light of recent declines in its price.

As Cummins focuses on electrification and growing its traditional engine business, the company is preparing an IPO for its filtration business.

Volvo reported record Q1 truck sales despite ongoing supply chain interruptions. The company took a $423 million charge for suspending Russia business.

GTI Transport Solutions announced Thursday the acquisition of container transport provider Foxconn Logistics.

United Airlines more than doubled its cargo revenue in the first quarter versus 2019. The passenger side is nearing full health too.

Precision scheduled railroading will help the western U.S. railroad recover service more efficiently, UP executives argue.

Truckload carrier Heartland Express beat first-quarter expectations Thursday.

Management from Landstar System is predicting “another great year” even as spot market fundamentals loosen.

The eastern U.S. railroad says its hiring initiative is going well.

The digital freight network has reached a $3.8 billion valuation after raising $160 million in series E funding and $100 in venture debt.

Knight-Swift Transportation lays out a thesis showing how large carriers will navigate a potential downturn considerably better than small fleets.

The U.S. railcar lessor doesn’t expect the war in Ukraine to impact company profits, but the conflict is affecting operations in Poland.

P.A.M. Transportation Services saw significant growth in its truckload and brokerage units during the first quarter.

Join FreightWaves for the Net-Zero Carbon Summit on April 22.

Logistics real estate operator Prologis beat first-quarter estimates and raised its outlook for the year. The company sees no near-term loosening in warehousing markets.

Truckload carrier Marten set several records in its quarterly earnings report, and its operating ratio net of fuel surcharges was one of the strongest numbers. But its labor costs were up significantly.

“TriumphPay has already made substantial progress in bringing much-needed innovation to the crucial payments component of the freight industry,” said Melissa Forman, the company’s new president.

The accelerator firm’s Supply Chain Innovation Platform connects Fortune 500 companies with FreightTech startups for continuous logistics innovation and efficiency.

Logistics real estate heavyweight Prologis beat first-quarter expectations and raised full-year 2022 guidance on Tuesday.

On its first-quarter call with analysts, management from J.B. Hunt said demand indications from customers have been strong. The path is likely not as easy for smaller players in the space.

J.B. Hunt Transport Services reported first-quarter results well ahead of analysts’ forecasts Monday after the market closed.

FreightWaves Founder and CEO Craig Fuller analyzes the impact of the latest Chinese lockdowns on the supply chains between China and the U.S.

Flatbed operator Daseke has received a mostly positive review from Moody’s, and the company’s management has responded with a bullish outlook for its trucking business.

Cowen analyst lowers earnings estimates for truckers as data showing a loosening market mounts.

Delta Air Lines grew Q1 cargo business because of supply chain chaos like that unfolding in Shanghai now. (Photo: Delta)

FreightWaves Founder and CEO Craig Fuller explains the boom and bust cycle of the trucking industry.

“We have a huge opportunity to let the world know that a tracking solution like this exists. We are going to take this funding and make sure that happens,” said Tive founder and CEO Krenar Komoni.

With record inventories building and bottlenecks easing is deflation next?

The sharp fall in the Transport average may need to be taken with a grain of economic salt.

Swedish truck maker AB Volvo halted its business in Russia because of the invasion of Ukraine. Now it is counting the cost.

FreightWaves Founder and CEO Craig Fuller analyzes methods to generate more revenue in a trucking downturn.

Concerns on declining demand and falling freight rates prompted Bank of America to issue ratings downgrades for multiple transportation stocks.

Workhorse may not have any electric vehicles to sell, but it also does not have any debt after paying off a hedge fund lender in stock.

FreightWaves Founder and CEO Craig Fuller analyzes the current costs of trucking.

S+V Technologies’ solution to sell products in transit caught the attention of investors including Ridgeline Partners, Chicago Ventures and project44 founder and CEO Jett McCandless.

Venerable index gets shellacked as freight issues fall hard.

FreightWaves Founder and CEO Craig Fuller provides further analysis regarding the decline in the freight market.

Becker’s CEO sees acquisition opportunities in other 3PLs with CEOs getting ready to retire.

RoadSync has diversified, but lumpers and maintenance costs while on the road remain a key market for the company.

XPO Logistics announced it has sold its intermodal business to STG Logistics for $710 million in cash. This was a crucial first step on the path to becoming a stand-alone less-than-truckload company.

Out of the shadow of Mercedes-Benz cars, independent Daimler Truck showed financial resilience despite supply chain headwinds.

Craig Fuller analyzes the state of the U.S. truckload market.

Financial technology platform Outgo emerges from stealth with a vertical banking solution that automates bookkeeping functions for carriers.

The railcar manufacturer sees elevated scrapping levels and higher leasing rates.

Reports link Prologis as a suitor of Blackstone’s last-mile network in Europe.

Aircon is “building technology to achieve operational efficiencies that will change what air cargo means to the global supply chain.”

Higher diesel prices also mean higher costs for empty miles.