Finance

EPS comes in below estimates as FedEx Ground’s operating income declines.

The quarterly report of the brokerage industry’s leading trade group shows that 3PLs did only slightly better in the rip-roaring freight market of the fourth quarter.

“We realized we don’t need to make the carrier give us that information to let them see our loads. Instead, let’s give the carriers a platform where they can search loads, even bid on them, without having to provide us all of that info,” Zuum’s product manager told FreightWaves.

J.B. Hunt announced plans to expand its intermodal container count to 150,000 units in efforts “to substantially improve capacity” as part of a joint initiative with BNSF Railway.

The $12 million from Level Equity draws the previous biggest investment in WorkHound, which was just over $2 million.

Nikola is asking shareholders to dilute their investment by authorizing 200 million new shares of the electric truck maker that could raise $1.5 billion.

“Africa remains an important strategic growth market. Particularly for our service offering from and to South Africa, DAL is a valuable addition, allowing us to offer our customers a better network and additional port coverage in this region,” said Hapag-Lloyd CEO Rolf Habben Jansen.

Cold storage operator Lineage Logistics announced the acquisition of MTC Logistics and its four facilities Thursday.

A Wednesday update from less-than-truckload carrier Yellow Corp. showed volume trends worsened in February on what was supposed to be an easy year-over-year comp.

Liner company Zim expects to rake in a billion dollars more this year than in record-setting 2021.

AFS Logistics announced Tuesday the acquisition of DTA Services.

FreightWaves Founder and CEO Craig Fuller writes about the impact of the Russia-Ukraine conflict on the U.S. freight system

“With TriumphPay handling payments for all stakeholders at each stage of the post-load payment journey in a secure and transparent fashion, carriers, brokers, factors and shippers will have more time to focus on other important business decisions,” said Melissa Forman, senior vice president and chief strategy officer at TriumphPay.

Arkansas Gov. Asa Hutchinson is a leader in computer science education; Jonathan Hoffman has expertise in national defense.

ArcBest reported Friday that the favorable revenue trends logged in the fourth quarter have continued through the first two months of the first quarter.

First-quarter updates from Old Dominion and Saia show LTL carriers are off to another strong start.

Kuehne + Nagel is the biggest air and ocean logistics provider and it’s pushing the right buttons for fast growth.

Expeditors International is desperately trying to recover from a major cyberattack that has degraded its logistics capabilities.

BMO’s detailed release of its transportation group statistics provide a good look at how the trucking industry is doing.

Despite a 3% decrease in overall volumes, BNSF’s net income was $1.7 billion for the fourth quarter of 2021.

Less-than-truckload carrier Dayton Freight Lines announced plans to acquire Valley Companies’ cartage operations.

Contract logistics giant GXO announced Monday it has officially made a bid for Clipper Logistics.

Contract logistics giant GXO sees numerous growth opportunities for years to come.

Management from cold storage warehouse operator Americold addresses concerns about decelerating trends and a soft 2022 outlook.

Electric truck maker Nikola projects it will build 300-500 battery-electric trucks this year and post up to $150 million in revenue.

Multiple fleets placed deposits for 100 extended-range Hypertruck ERX units as Hyliion Holdings declared it has enough money for a late 2023 launch.

Expeditors announced its earnings while it is in the midst of a cyberattack.

Temperature- and time-sensitive 3PLs join forces in the brokerage industry’s latest deal. Direct Connect Logistix announced Monday it has acquired Performance Logistics.

GXO Logistics announced it has worked out the details of a $1.3 billion acquisition of Clipper Logistics.

Canada’s largest airline produced its best cargo results ever as the passenger business begins to show signs of sustained recovery.

Railcar leasing could be on the upswing for a number of car types, executives for railcar lessor Trinity Industries said during the company’s fourth-quarter 2021 earnings call on Thursday.

Atlas Air has a huge freighter fleet to help take advantage of shipper interest in air transport and is adding more planes this year.

Refrigerated carrier Hirschbach announced the acquisition of John Christner Trucking. The combination will form one of the nation’s largest temperature-controlled fleets.

Food delivery platform DoorDash reported mixed earnings for Q4 2021 and FY2021 after the bell on Wednesday.

According to the Austin, Texas-based company, the average purchase order has a 52% chance of changing before it is delivered by the vendor.

Adjusted earnings per diluted share increases 20.4% to $1.18.

E-commerce platform Shopify said a lack of government stimulus will hold down revenue growth in 2021.

The fourth-quarter average sales price for used tractors and trucks at Ryder was up more than 100%.

After last year’s historic run-up, factories are producing fewer containers and pricing of new boxes is down.

Strong revenue and EPS numbers spark an after-hours share rally.

Digital broker Transfix posted record results for 2021. The company’s public listing is on track for the second quarter.

Management from Radiant Logistics said it has several levers at its disposal to boost the company’s valuation.

Universal Logistics inks a record year despite challenges. Implied 2022 earnings guidance surprises to the upside by 20%.

Korean Air’s cargo division is propping up the entire airline with passenger traffic still underwater.

TuSimple says its autonomous trucking software is “feature complete” and it will expand driverless trucking beyond a pilot program.

With Transplace now in the fold, Uber Freight’s revenue topped $1 billion for the last three months of 2021.

Forward Air head Tom Schmitt was bullish about the company’s prospects on a call with analysts Thursday. Forward is already on track to achieve recently issued 2023 targets ahead of schedule.

The Variant initiative is not yet showing signs of turning the company around.

The LTL segment remains a work in progress, but analysts are confident that Jacobs & Co. can turn it around.

In its earnings report for Q4 2021 and FY2021, Uber revealed that its delivery segment once again brought in more revenue than its core mobility business.

“What Leaf is doing — building a highly connected and forward-looking view of the industry from the ground up — just can’t be done by incumbents operating within the existing constructs of the industry,” says partner at Sozo Ventures.

COVID container boom continues: Maersk may earn even more this year than in record-trouncing 2021.

Trimble expects organic revenue growth in 2022, despite the ongoing impact of constrained supply chains across the global economy.

Truckload capacity management platform Parade plans to grow its team, expand its capabilities and add third-party partners to increase its value to customers.

Record earnings per share of $2.48 beat analysts’ estimates.

A.P. Moller – Maersk announced the $1.8 billion acquisition of U.S. forwarder Pilot Freight Services. The deal is the company’s latest move in building out a land-based logistics network.

Parsyl closes on $25 million series B while currently monitoring vaccine shipments for 200 million people across 80 countries.

Donald Trump claimed his trade war got the Chinese to bend to U.S. will. But the “historic” trade deal he negotiated didn’t turn out so well.

The current roster of FreightTech unicorns is made up of established companies run by veterans and backed by smart money.

High scrapping rates and aging fleets provide support for railcar manufacturing as the company anticipates 2022 financial results that won’t be “obscured by restructuring activities.”

The ride-hailing giant has struggled to turn a profit over the years, but that finally changed in 2021.

“Across the board, our businesses showed momentum and ended the year on a strong note,” said Charles Freund, CFO at Fleetcor.

XPO Logistics has issued 2022 guidance and vows to fully right the LTL segment’s operating ratio by midyear.

TForce Freight pickup and delivery drivers will be driving less and taking on more freight as TFI International pushes efficiency in its U.S. LTL operation, says TFI’s CEO.

The U.S. Postal Service reported a widening net loss in the fiscal 2022 first quarter due to higher compensation and benefits costs. Transport costs rose 9% due to higher fuel expenses.

No. 7 on FreightWaves’ 2022 FreightTech 25 is landing $935 million in a series E round led by Andreessen Horowitz and MSD Partners.

USA Truck beats fourth-quarter expectations and plans to grow revenue through expanding capacity east of Interstate 35 and doubling logistics business.

The LTL carrier has ambitious plans for growing its footprint over the next two years.

“There is an urgent demand for new and innovative ways to increase visibility and efficiencies in the supply chain and improve driver experience, and this investment from our new and existing partners is going to power us to fill that need,” says Platform Science co-founder and CEO Jack Kennedy.

Werner Enterprises beat fourth-quarter expectations and announced plans to grow revenue by 10% on average over the next five years.

USA Truck Inc. rode a robust freight and pricing market to revenue of $200.9 million and earnings per share of $1.38 during the fourth quarter.

Shares soar 18% in after-hours trading as investors hail fourth-quarter performance.

Schneider provided a better-than-expected earnings outlook for 2022 on Thursday. The company also raised margin targets in two key segments.

Supply chain challenges and higher material costs dented profits, but Cummins Inc. posted record revenues in 2021.

The truckload carrier’s OR is one of the best in the industry but it’s being done on a smaller base of business.

Less-than-truckload carrier Yellow Corp. reported better-than-expected adjusted fourth-quarter results Wednesday after the market closed.

Wabash retires its legacy brands to focus on the company name as its swollen backlog all but closes 2022 order books except for multiyear purchases.

RLS Logistics builds out its national cold storage network with two acquisitions.

Less-than-truckload carrier Old Dominion raised its long-term margin target when it released better-than-expected fourth-quarter earnings Wednesday.

Pitney Bowes’ Nita Lathia becomes head of marketplaces for Passport.

Saia’s operating ratio was up more than 500 basis points in Q4 2021 compared to the final quarter of 2020.

Despite strong revenue growth, freight broker productivity fell sharply.

UPS posted its best quarterly operating profit in its history. It also declared a 49% dividend increase.

ArcBest raised long-term expectations Tuesday in conjunction with its fourth-quarter results, which were better than expected. The company now eyes doubling its size by 2025.

Forager founder and CEO Matt Silver will continue to work closely with his team as Arrive’s vice president of cross-border solutions.

ArcBest on Tuesday reported fourth-quarter results, which once again outpaced analysts’ expectations.

Chicago-based on-demand freight marketplace closes on $200 million series D round.

Carrier profits are reaching previously unimaginable heights as supply chain disruptions supercharge gains.

J.B. Hunt Transport acquires less-than-truckload furniture carrier Zenith Freight Lines from Bassett Furniture.

Volvo Trucks pulled out the stops to deliver in Q4, but it cost extra for expedited shipping and to navigate parts shortages.

A Mexican government crackdown has shifted volumes of refined products to truck instead of rail. But KCS hopes for that traffic to return to rail, according to executives.

Any concessions that CP would consider as it seeks federal approval to merge with Kansas City Southern must be “reasonable” and grounded in supporting competition, CP said during its fourth-quarter 2021 earnings call late Thursday.

Covenant Logistics Group said revenue for the second half of 2022 could be impacted by wage pressures and higher equipment and over-the-road repair costs.

Conversational analytics tool Athena received the 2021 Cool Vendor in Analytics and Data Science award from Gartner.

The Chattanooga, Tennessee-based truckload carrier said the outlook is for continued operational progress during 2022.

Freight broker Landstar closes 2021 with another beat-and-raise quarter. Demand has yet to buck normal seasonal trends, indicating the first quarter will be strong as well.

NS plans to roll out an operations program that will progress beyond precision scheduled railroading, according to executives speaking on NS’ fourth-quarter 2021 earnings call.

Knight-Swift Transportation reported another big quarterly result Wednesday. However, it appears the stretch of rapid growth will moderate as the comps have stiffened.

Canadian railway CN eyes volume growth from vaccine mandates and grain, and it expects higher volumes in the second half of 2022.

“We are finding that if we can focus heavily on the customer experience, we can deliver tremendous value to our customers and that’s what it’s all about,” says Logixboard CEO Julian Alvarez.