Finance

Peloton is riding a wave for the history books right now. It has grown revenues by triple digits year-over-year for three consecutive quarters while building one of the most recognizable brands in not just fitness, but all consumer segments. If it should continue this meteoric rise, it must sort its supply chain issues before either the vaccines or competition prematurely puts out its flame.

Cargo shippers hamstrung by the global container shortage should not expect a box building spree in China to come to their rescue.

Werner Enterprises modestly lowered earnings expectations for the first quarter of 2021 due to downtime caused by recent winter storms. The company expects no change to the tight capacity dynamic for some time.

anadian e-commerce firm Shopify continues to slowly ramp up its U.S. fulfillment network on the heels of record fourth-quarter financial results.

Appearing at an investor conference, J.B. Hunt CEO John Roberts said this year’s intermodal bid season will go a long way in determining whether the company curtails the division’s margin target.

The activist investor group seeking changes at Forward Air said the company’s recent results and guidance are “substandard” in a letter to shareholders. The group also asserts that Forward was “disingenuous” in the way it provided updates on fourth-quarter results, suggesting it was fearful of receiving other board nominations.

Most less-than-truckload carriers have implemented general rate increases for 2021. The average increase is in the mid-single digits, ahead of some increases issued in the past and likely indicative of a firm LTL market.

Amid heightened scrutiny over the direction of the company, Forward Air’s management team defends its current strategy. Fourth-quarter results were negatively impacted by a December cyberattack.

On podcast, Amit Mehrotra of Deutsche Bank looks over the reports for the last quarter of last year

We’ve long touted retail inventory restocking as a primary growth driver for the freight bull run, but apparel brands aren’t aligning with this thesis. Rather than reverting back to habitual overordering and year-end discounting, retailers are sticking with the conservative ordering tactics that helped them win the holiday season.

Leaf Logistics CEO Anshu Prasad believes manufacturers of food and consumer packaged goods could be in jeopardy of missing earnings expectations as transportation rates remained elevated throughout the quarter.

New unit acquired by Forward Air increases its intermodal footprint.

XPO Logistics sees strong momentum coming off an excellent fourth quarter.

Smart loading dock startup Kargo announced the close of its $6 million seed round on Thursday. The company eyes further expansion and product development.

Rush Enterprises sold Class 8 trucks at a level reflecting the industry’s overall COVID-impacted decline in 2020. It expects better results in 2021 and beyond.

The first reaction to earnings at Ryder from Wall Street was decidedly negative.

Trimble produced $829.7 million in revenue during the fourth quarter of 2020, with earnings per share of 71 cents.

The size of Uber Freight’s “fleet” is about 71,000 carriers.

Brokerage steals the spotlight at XPO amid a record revenue performance and strong 2021 earnings guidance.

An open letter from activist investor Ancora Advisors says “ineffective capital allocation” and diversification into “margin- and return-dilutive service offerings” have led to inferior results for Forward Air compared to other less-than-truckload carriers.

Old-school aerodynamics technologies such as TruckWings can contribute to economic and environmental sustainability.

Maersk, the world’s largest container carrier, just reported record quarterly results. And its next quarter looks even better.

Third-party logistics provider Radiant Logistics beat expectations for its second fiscal quarter. The company’s improved results and low-debt profile are allowing it to pursue acquisitions.

The most important number, yield, is up from January 2020 for Forward Air.

Korean container carrier HMM expects equipment and capacity shortages to continue at least through the end of the first quarter.

TFI International CEO says it will take a hard line on UPS Freight customers who aren’t making the company money after its $800 million acquisition closes.

Less-than-truckload carrier Saia laid out expansion plans on its fourth-quarter earnings call. The carrier believes door count growth can exceed recent expansion efforts.

Old Dominion CEO Greg Gantt says nine service centers were added in 2020 and there are more to come this year — some of them soon.

Less-than-truckload carrier Saia reported fourth-quarter results well ahead of expectations Monday. The company reported record operating results in a “most unique year.”

All Nippon Airways is consolidating freighter operations at one of its Tokyo airports, and only relying on passenger planes to deliver cargo to Okinawa to save money after losing a lot of money in the first three quarters of its fiscal year.

Long grind ahead for crude tankers: Executives and analysts don’t see recovery until second half — if not later.

Supply chain software provider E2Open is now trading on the NYSE under a new symbol.

North American automotive and import opportunities could boost business for Universal Logistics during 2021, CEO Tim Phillips said during the Q4 earnings call.

Business payments company FLEETCOR Technologies Inc. reported EPS 19 cents above estimates for the fourth quarter.

Retailers will want to pull forward inventory ahead of the 2021 peak season, the intermodal marketing company said. Fourth-quarter 2020 revenue grew by 6% although net profit slipped by 20% year-over-year.

A Wall Street research firm calls the performance “remarkable.”

The trucking and logistics company gained from strong demand and tight supply.

Universal Logistics’ operating revenues from truckload services in the fourth quarter decreased $8.7 million to $49.8 million.

Yellow Corp. is back. The holding company formerly known as YRC Worldwide has gone back to its roots. However, fourth-quarter results missed analysts’ expectations at a net loss of 37 cents per share.

Slync.io, a Dallas-based operating system for global logistics, announced the close of its $60 million Series B funding round.

One notable number in the company’s earnings is that even with growth in all areas, compensation costs were held in check.

Weathering the COVID pandemic drove Volvo Group sales lower in 2020, but market share was stable and new orders are pouring in.

Schneider National plans to use its strong cash generation capabilities to reinvest in the fleet during 2021. The carrier will also look to allocate growth capital to its dedicated and intermodal offerings.

Schneider National posted fourth-quarter results ahead of analysts’ forecasts on Wednesday. The company’s 2021 outlook is largely in-line with the current consensus estimate.

The deal benefits TFI’s freight-centric culture and allows UPS to shed a noncore asset, Tomé says.

Supply chain technology provider Manhattan Associates bests fourth-quarter forecast and raises 2021 guidance. Management sees “robust” global demand for cloud solutions.

Amazon announces a leadership shift as it crushes fourth-quarter 2020 estimates and reports $125 billion in revenue.

Ocean Network Express takes giant profitability leap — from $5 million to $944 million year-over-year.

Logistics provider ArcBest sees positive tonnage trends continue in the first quarter. The less-than-truckload carrier is attempting to break the historical margin decline seen from the fourth quarter to the first.

E-commerce and shipping solutions provider Pitney Bowes reported “the highest modern-day, organic growth rate on record.”

UPS reports all-time annual records for revenue and earnings per share.

Logistics provider ArcBest reported better-than-expected results for the fourth quarter Tuesday. Less-than-truckload tonnage increased by double-digit percentages as weight per shipment jumped 10%.

Forward Air is the latest transportation provider to implement general rate increases amid a tight capacity environment. The company’s 6% GRI will apply to all shipments.

YRC announced Monday the further expansion of its regional next-day service at YRC Freight. This rollout will make the service available out of 13 terminals throughout the mid-Atlantic.

Only a week removed from the $800 million purchase of UPS Freight, TFI International is back at it. On Monday, the company announced the acquisition of van and flatbed carrier Fleetway Transport.

Despite strong Q4, Daimler Trucks likely to miss analyst consensus on sales and profits based on parent company’s forecast.

An interview with flatbed carrier Daseke outlines the company’s operational focus and plan to get back to growth through acquisitions.

Flatbed truckload company Daseke beats earnings per share estimates in the fourth quarter but revenue and operating ratios slide. 2021 guidance provides a bit of a mixed bag.

In what amounted to an “encore,” the end of the Q&A didn’t mean an end to the discussion on Variant and its role in USX’s future.

Fuller: Variant initiative was 9.4% of truckload revenues in fourth quarter

Truck broker Landstar System expects high demand and elevated truckload rates to carry through the first quarter of the year. However, the company’s CEO has a bit of a contrarian “pessimistic” view for the second half.

Truck broker Landstar System set records in the fourth quarter. The company is expecting the high-demand environment and improved truckload pricing to carry through at least the first quarter.

Canadian Pacific reported a fourth-quarter operating ratio of 53.9%, a record low. Fourth-quarter net profit was CA$802 million, up nearly 21% year-over-year.

Hapag-Lloyd credits higher freight rates and lower bunker prices as “the main drivers of these positive business developments.”

Knight-Swift Transportation reports a big jump in results during the fourth quarter. However, while some may view this as a victory lap, investors appear to be calling the end to the TL trade.

Alaska Airlines’ parent company is one of the better managed airlines in the industry. Its financial results during a pandemic year show why.

Knight-Swift Transportation capitalizes on strong truckload fundamentals to post much higher year-over-year results. Fourth-quarter numbers came in slightly ahead of expectations and the company’s full-year 2021 guidance remains unchanged.

Fourth-quarter net profit was $671 million. An 8% decrease in operating expenses helped to offset a 4% decline in operating revenues.

Operating ratios for all its segments improved in the final three months of the year.

Net income rebounded 49.1% year-over-year from one of the 3PL’s worst quarters.

CN’s fourth-quarter net income was C$1.02 billion amid a 2% increase in revenue and a 5% decrease in operating expenses.

Prologis enters the new year with “optimism and confidence” as logistics real estate remains in high demand. Fourth-quarter financial results and 2021 guidance come in ahead of forecasts.

Wall Street reacts negatively to the latest earnings report, but Covenant suggests it’s playing a long game.

The continuing impact from COVID impacts results but the Kenworth, Peterbilt and DAF parent company still turns in positive numbers.

Logistics real estate operator Prologis reports better-than-expected fourth-quarter results as the “pandemic has pushed global supply chains to their limits.”

Past Forward Air CFO Andy Clarke outlines his outlook for improving returns at his former company. He represents an activist investor group, which includes turnaround investment firm Ancora Advisors and Forward’s founder.

The Triumph acquisition of TFS has had plenty of problems since it was first announced.

KCS’ fourth-quarter 2020 net profit was $165.7 million, compared with $127.2 million in Q4 of 2019.

Fourth-quarter figures at Triumph were impacted by the third-quarter acquisition of Covenant’s factoring business.

CSX’s fourth-quarter net income slipped 1% to $760 million amid a 2% decline in revenue.

The MDH Acquisition Corp. looks to raise more than $200 million in an IPO.

Supply chain-focused private equity firm Red Arts Capital acquires Canadian third-party logistics provider Radius Logistics.

Union Pacific’s net profit was $1.4 billion in the fourth quarter of 2020, on par with the fourth quarter of 2019.

An economic outlook report from truckload carrier U.S. Xpress calls for tight truckload dynamics to remain in place at least through the third quarter. The forecast calls for contractual rates to increase as high as 15% in the year.

Another supporter of improving less-than-truckload fundamentals was identified this week. UBS analyst Tom Wadewitz initiated coverage of the group with a favorable outlook.

Cardinal Logistics has acquired heavy-goods final-mile provider NRX Logistics. The deal marks the third final-mile transaction for M&A advisory firm Tenney Group in the last year.

Cross-border logistics platform looks to scale sustainably as it prepares to raise more capital.

J.B. Hunt Transport Services’ fourth quarter came in better than expected. However, the company said it was reviewing long-term margin targets across all segments. Intermodal margin forecasts may be reduced but other units could see upward revisions.

Cortera report shows surge in business spending as the year drew to a close.

J.B. Hunt Transport Services’ fourth quarter outpaces analysts’ forecasts. Brokerage, truck and final-mile divisions benefit from revenue surge.

Rivian has closed an investment round of $2.65 billion as the electric truck company best known in freight circles for making the Amazon custom delivery van gears up for mass production.

Fourth-quarter results for Heartland Express displayed a revenue dip on driver employment headwinds but operating income jumped 35%. The company mentions getting back into M&A.

Interview with Daseke’s leadership team covers recent changes and the return to M&A.

Penske Logistics “strongly refutes” claims by Loves but defers other comments.

The December rates subindex jumped 13% year-over-year, setting the stage for big rate hikes in 2021, according to Cass data.

Delta’s downsizing helped it contain costs during an extremely challenging pandemic year. On Thursday, it reported a fourth-quarter loss before taxes of $2.1 billion.

Each company is the other’s “preferred partner” in the factoring/truck stop cooperation

Surging activity around logistics properties dominated the headlines in a fourth-quarter industrial real estate report. The strong trends are expected to advance into 2021 with some moderation seen as more supply comes online.

Temperature-controlled carrier Nagle Toledo announced a 17% pay increase for its drivers. The company was one of the first to start paying drivers a straight salary.

​Relay Payments, a fintech company operating in the logistics space, has raised $43 million in funding over the last six months as it seeks to digitize an industry that has long relied on checks and cash.