The basic per diem rate allowed by the IRS for payments to transportation workers is rising by $11 in fiscal year 2025.
Marten Transport cited the weak freight market in reducing the salaries of six top executives. The executives’ 2023 salaries ranged from $267,000 to about $811,000.
A challenging parcel environment led to disappointing first-quarter results for FedEx.
Susquehanna Financial Group analyst Bascome Majors cut his earnings forecasts for less-than-truckload carriers following a soft August.
Canadian supply chain SaaS provider Descartes acquired MyCarrierPortal, which provides brokers and shippers with carrier onboarding and risk monitoring tools.
Trimble customers who gathered in Las Vegas got the big news that Platform Science is acquiring Trimble’s telematics business.
RXO announced Monday that it has completed the acquisition of freight broker Coyote Logistics.
Radiant Logistics said some customers have moved freight deliveries up to avoid a potential dockworker strike or a possible change to U.S. trade policy.
UPS said Tuesday it was buying two Germany-based cold chain logistics operators to add to its sprawling health care logistics footprint.
Aifleet raised $16.6 million to help the company grow its operations and help truck drivers optimize their time.
Radiant Logistics has acquired oil and gas transportation and logistics specialist Foundation Logistics & Services.
Supply chain SaaS company Descartes reported record quarterly results for the period ended July 31.
Some less-than-truckload carriers reported weaker tonnage trends in August but continued to capture increases in yields.
Less-than-truckload carrier Saia is still recording volume growth even though a year has passed since Yellow Corp. closed and the comparisons have gotten tougher.
A soft macroeconomic environment has resulted in lighter shipments for ArcBest and a delay in the company’s freight swap.
A shareholder-backed bankruptcy plan for Yellow Corp. would satisfy all allowed unsecured claims and leave shareholders with a real estate investment trust to manage the remaining properties.
Moody’s reduced truck parts retailer FleetPride’s outlook to negative.
Newly-formed Jack Cooper LTL is rumored to be in talks to purchase less-than-truckload carrier Standard Forwarding.
BMO’s transportation group, a big lender to trucking, showed even more third-quarter credit deterioration in the sector.
Yellow Corp., which is close to submitting a final Chapter 11 plan, can retain real estate broker CBRE to sell its remaining terminals, a Delaware bankruptcy court said Friday.
Less-than-truckload carrier Estes said Thursday it has closed on seven additional terminals that were being leased by bankrupt Yellow Corp.
Kenan Advantage Group has acquired Louisiana-based tanker trucking company TransVac for an undisclosed sum.
Though most logistics companies are operating with reduced revenue and earnings, deals in the sector have not ground to a halt. One recent deal was significant enough that the Tenney […]
Activist investor Ancora has called on Forward Air’s board to consider a sale of the company and to begin engaging with potential buyers.
TriumphPay announces an upcoming white paper examining the benefits and security of the TriumphPay Network.
Activist investor Clearlake Capital holds a 13.8% equity position in Forward Air and signaled it may look to make changes at the company.
XPO is reportedly again in talks to divest its European transportation business as it seeks to focus solely on its North American less-than-truckload operations.
BRW has been created through an acquisition as a combined brokerage and truckload and LTL carrier.
Cargojet’s domestic and international flying business posted solid gains in the second quarter thanks to e-commerce demand in Canada.
Inc. 5000’s list of fastest-growing private companies includes 166 transportation and logistics companies.
FreightWaves, the world’s leading provider of freight market forecasting, data, news and analysis, has for the third time made the annual Inc. 5000 list of the fastest-growing private companies in America.
Proficient Auto Logistics, the auto hauler that went public in May, has made its first acquisition since its IPO.
Creditors to Yellow’s estate say professional fees are racking up while its advisers delay a realistic Chapter 11 plan in hopes of producing an unlikely recovery for shareholders.
Amazon logistics partner Air Transport Services Group expects better revenue and profits the rest of this year after a difficult second quarter.
Fleet fuel card provider Corpay said its North American fleet business “presented a drag on growth” during the second quarter.
Air Canada has jettisoned two freighter aircraft from its fleet because there isn’t enough business to justify the cost.
Republican lawmakers are leaning on the Department of Justice to provide an update on an investigation into more than 60 multiemployer pension plans that were overpaid from a government bailout package.
Forward Air said Wednesday it will continue to focus on integration and revenue opportunities following a messy merger with Omni Logistics.
GXO Logistics’ second-quarter revenue surged 19% year over year to $2.8 billion.
RXO did not see significant improvement in its key financials, but it highlighted where things were better.
Global warehouse operator Prologis announced its Mexican affiliate has acquired a 77% equity stake in Fibra Terrafina.
Bestpass-Fleetworthy Solutions, known primarily for its toll management services, is acquiring weigh station bypass company Drivewyze and signals that more acquisitions are ahead.
3PL RXO saw its revenue decline in the second quarter, but gross margin was higher.
Yellow’s non-pension-affiliated creditors as well as its shareholders may soon know the fate of their stake in the defunct less-than-truckload carrier’s estate.
EBITDA at Uber Freight remained negative in the second quarter, and revenue continued to fall.
Expeditors International saw an increase in its airfreight business in the second quarter and a downturn on the ocean.
A proposed shift in how tax revenue generated by freight movements is allocated among states has hit a dead end.
Transportation provider Hub Group sees Q2 revenue fall 5% year over year to $986 million.
Sun Country Airlines expects to double its cargo revenue once a revised transportation contract with Amazon is fully implemented in 2026.
ArcBest misses second-quarter expectations as losses at its asset-light business continue.
ArcBest reported second-quarter results on Friday, which came in light of analysts’ expectations.
Wall Street wasn’t happy with the revenue forecast for Amazon’s third quarter.
Temperature-controlled real estate investment trust Lineage Inc. announced it will give $100 million in equity awards to its workforce.
Parcel logistics giant DHL is banking on a strong peak shipping season to bring up results for 2024.
Schneider National saw positive indicators in the second quarter as the company reported revenue of $1.31 billion.
Werner’s Q2 earnings saw worsening financial conditions but improving freight market conditions and signs of capacity tightening.
Less-than-truckload carrier XPO bested second-quarter expectations on Thursday as tonnage and yields continued to move higher.
Large passenger airlines recorded solid growth in cargo revenue during the second quarter after more than a year of contraction.
Less-than-truckload carrier XPO beat second-quarter expectations as tonnage and yield increases were complemented by effective cost management.
Dave Bozeman, one year into the job as CEO of C.H. Robinson, cites a new operating model as the company’s earnings surprise to the upside.
C.H. Robinson’s earnings look solidly positive, and the stock market reacted that way.
Canadian Pacific Kansas City had a gangbuster second quarter as
merger-related traffic synergies kicked in faster than expected and boosted revenue and profits,
executives said on Tuesday.
Freight broker Landstar System shared some signs of market stabilization with analysts on a Tuesday call but said it’s still too soon to say the market has turned.
The CEO of Werner Enterprises says an inflection point in the freight market might be near.
Broker Landstar System beat second-quarter estimates Tuesday as the period ended a two-year streak of sequential revenue declines.
Werner Enterprises saw revenue and earnings per share drop in the second quarter.
Altana closed on a $200 million investment Tuesday to accelerate its supply chain and risk management product development.
Knight-Swift announced its third less-than-truckload acquisition on Tuesday, purchasing Los Angeles-based Dependable Highway Express for an undisclosed sum.
Love’s said Monday it has acquired the U.S. transportation factoring portfolio from REV Capital.
In an earnings call with analysts, TFI International CEO Alain Bedard gave a strong critique of the company’s LTL cost structure.
Universal Logistics Holdings saw increases in second-quarter top-line revenue, along with gains in its trucking and contract logistics segments.
Growth-related costs and a less favorable freight profile led to Saia’s second-quarter results coming up short of expectations.
Operational improvements helped Norfolk Southern win back service-sensitive intermodal and automotive traffic while driving down costs and boosting the railroad’s profitability in the second quarter.
Ryder’s earnings report for the second quarter showed some sluggishness, but company executives see a bottom.
A first look at less-than-truckload carrier Saia’s second-quarter earnings report.
TFI International reported solid financial performance in the second quarter of 2024.
Union Pacific’s profits rose in the second quarter despite a sharp drop in coal traffic.
Covenant Logistics Group sees improvement in the overall freight market but not enough for a 2024 recovery.
Heartland Express’ Q2 earnings saw a net loss of $3.5 million as it works to improve its operating ratio and profitability
Cold storage real estate investment trust Lineage Inc. announced that its initial public offering priced near the high end of the range and will include at least 10 million more shares than expected.
Truckload carrier Pam Transportation Services lost money again in the second quarter but said it saw signs of an improving freight market as the quarter closed.
Knight-Swift Transportation said the trough of the freight cycle has likely passed and that it is now focused on growing its less-than-truckload business.
Covenant Logistics Group posts second-quarter revenue of $287.5 million and adjusted earnings of $1.04 cents per share.
The recovery of the air and ocean logistics market since the start of the year helped improve second-quarter results at Kuehne+Nagel and DSV.
Old Dominion Freight Line beat second-quarter expectations Wednesday as it continues to ready its network for an improving freight economy where it plans to win market share.
Tesla has paused plans for a factory in Mexico amid a 43% drop in second-quarter profit.
xCanadian National today lowered its financial outlook for the year as volume growth slowed during the second quarter due to slumping lumber traffic and the impact of shippers diverting international intermodal containers to U.S. ports in anticipation of a potential rail strike in Canada.
Truckload carrier Heartland Express reported another quarterly net loss on Tuesday and said improvement in the freight market will not likely occur until 2025.
UPS is taking longer than expected to restore profit levels amid slower parcel growth and increased operating costs.
Brad Jacobs’ QXO is ready to begin acquisitions with a war chest of $5 billion in hand after two big deals.
Marten’s second-quarter earnings deteriorated, but it said it hasn’t cut contract rates since August.
A two-year process to determine how to value freight for state income tax purposes may be coming to a head.
Triumph Financial is sticking to its long-term goal of growing TriumphPay Network market share even as earnings sag.
Logistics warehouse operator Prologis said uncertainty around interest rates and the political landscape should be resolved in the coming months, clearing a path for a more constructive 2025.
Logistics real estate landlord Prologis noted “subdued” but “improving” demand in its second-quarter report issued Wednesday.
J.B. Hunt missed second-quarter expectations Tuesday as soft freight demand and costs associated with carrying the capacity needed to meet future demand weighed on the period.
J.B. Hunt missed second-quarter expectations as volumes remained weak across all modes, expenses remained elevated and intermodal yields declined.
Real estate investment trust Lineage announced the pricing of its initial public offering on Tuesday.
The digital trucking platform partners with CoVenture for up to $100 million in debt to accelerate its financial services.
Port congestion in Southeast Asia is creating an imbalance of equipment, raising both local and global spot market pricing, according to a report by AlixPartners.
