Genuflecting toward Wall Street has symbolically become part of the North American Class 1 rail company culture.
Volvo Group Q3 sales and earnings trailed last year. But a recovery in heavy-duty truck orders and market share gains in North America improved a bleak picture.
Lower operating expenses drove the increase in third-quarter net income.
J.B. Hunt Transport Services misses 3Q estimates by 9 cents per share. Revenue and operating income climb 5% but a variety of cost inflation and a tough truck brokerage market weigh on the quarter.
Income per share beat consensus but total and truckload revenue disappoints; stock falls in after-market trading
Total revenue at the company, the first carrier to report third-quarter earnings, was up more than 20%
German container carrier now expects 2020 EBITDA of between $2.8 billion and $3.04 billion.
Teamsters and YRC Worldwide agree to implement $7,500 hiring bonuses to new drivers. YRC will select the regions for the new bonus pay but the local unions have the autonomy to decline them.
United Airlines lost more than $2 billion in the third quarter, but the cargo division did its part to stabilize finances.
Delta Air Lines (NYSE:DAL) reported quarterly losses of $3.30 per share, which missed the analyst consensus estimate of $3 by 10%. This is a 242% decrease over earnings of $2.32 […]
S&P Global Ratings extended its bullish appraisal of electric vehicle maker Tesla (NASDAQL TSLA), upgrading the company’s debt rating from B+ to BB-. The raise puts the electric automaker just […]
Cold storage operator Americold expands its portfolio again, this time in a $1.74 billion bid for the world’s fourth-largest provider. Americold plans to offer 33 million common shares in total to facilitate the deal.
Data and commentary point to an earnings blowout for trucking companies in the third quarter with the likelihood of similar results in the fourth quarter. However, headwinds surrounding driver recruitment and retention present a hurdle to the rally.
The less-than-truckload industry continues to expand its footprint. Saia Inc. has added terminal capacity again, this time transitioning into a new 200-door terminal in Memphis, Tennessee.
The vote to complete a reverse merger for commercial electric pickup startup Lordstown Motors is set for Oct. 22 amid greater than run-of-the-mill business risks.
Listed carriers are poised to post stellar third-quarter numbers on higher rates and volumes.
Amazon (NASDAQ: AMZN) vs. Walmart (NYSE: WMT)? That one-on-one skirmish is old news. As COVID-19 reshapes the American shopper, money is pouring into a cluster of new and existing grocery […]
Soaring demand and a lack of truck capacity have industry participants calling for double-digit rate increases in 2021. UBS transportation equities analyst Tom Wadewitz outlines his bullish call in a note to clients.
A specialized freight brokerage is backstopped by 425 reefer tractors.
Lean wants to add more clients outside of transportation and logistics.
Forward Air announces another acquisition as it advances its no-wait growth plan. The Greeneville, Tennessee-based trucking company adds intermodal drayage provider Value Logistics to its roster.
Talk of a European supply chain unit sale may put XPO’s Jacobs at fork in the road.
TFI International’s acquisition spree continues. The Canadian transportation and logistics company adds another bulk carrier to its portfolio with the purchase of Grammer Dry Bulk.
News could restart the spin-off process for all four business units.
Canadian trucking and logistics company Mullen Group announces the acquisition of customs warehouse operator International Warehousing and Distribution Inc.
‘Game on’ for Uber Freight.
The air cargo industry is operating with an anchor tied around its waist: The absence of strong passenger service.
Great freight factoring companies are amazing at avoiding bad-debt shippers and staying on top of collections so loads factored rarely turn into uncollectible revenue.
French company Exotec has raised $90 million to expand its autonomous robotics system as online shopping intensifies demand for more efficient warehouse management. The round, announced on Tuesday, was led […]
Radiant Logistics achieves a couple of records during the recent quarter. Moving PPE and other aid paves the way to a large earnings beat.
Move by Schneider was prominent but wasn’t the industry leader; two companies at same level of $1.05 for independent owner-operators
Holders of stock in a shell corporation voted Monday to merge with electric driveline maker Hyliion Corp., pledging $560 million to fund the startup’s business plan to make heavy-duty trucks cleaner and quieter.
Forward Air adds traditional LTL service to more of its facilities as carriers put more assets to work in the space.
Startup hybrid truck drivetrain maker Hyliion expects to complete its short trip to public trading on Monday when Tortoise Acquisition shareholders count votes on a reverse merger under which Hyliion would trade on the NYSE and get $560 million to fund its business plan.
Former top exec at Fleematics is chairman, ex-CalAmp CEO Burdiek also in a top role
U.S. Xpress’ industry forecast calls for the truckload market to experience high driver turnover, declining capacity and “overwhelming” volumes through 2021.
Cowen raises price projection for the truckload carrier after its announced third-quarter forecast
Covenant also announces it reached agreement with Triumph over sale of TFS factoring unit
Truckload carrier also sees strong third quarter
Ratings agency mum on whether it liked what it saw at troubled LTL carrier
Cass data for the month of August shows significant acceleration in demand and rates but the comparisons to 2019 still lag other data sources.
The fallout at Nikola could place additional scrutiny on new public offerings and nontraditional special purpose acquisition companies.
VCs talk SPACs and clean tech investment in wake of Nikola scandal.
Court-approved access to $2.45 billion is expected to help the South American carrier weather the pandemic.
Investment supports expansion as manufacturing and logistics companies face e-commerce deluge
With many data points sitting at cycle highs, several industry participants are calling for the trucking market’s bull rally to last well into 2021.
Digital yard management company continues summer growth streak.
Technology and an abundance of data have brought more venture capital investors to the supply chain industry.
It appears Lineage Logistics will be able to sustain its 60% annual cubic-foot growth rate. The company announces an equity raise landed it with $1.6 billion in new capital.
Relief from Washington was sought but so far none is on the way
Forward Air announces the addition of CLW Delivery to its last-mile network, continuing its acceleration of both inorganic and organic growth initiatives.
sennder is now unquestionably the leading digital freight brokerage in Europe.
EPS numbers nearly double analysts’ median estimates.
Shares soar after hours.
Radiant Logistics reports new revenue and earnings records in a fiscal fourth-quarter update. The company has delayed its annual filing and conference call with analysts, citing delays associated with the pandemic.
But overall outlook that S&P and Moody’s see for the telematics company is positive as a result of the purchase
Landstar System raises earnings outlook on higher truck volumes and pricing improvements. New third-quarter expectations are 25% higher than the midpoint of the previous guidance range.
Tightening truckload and intermodal markets have carriers expecting the hot freight market to carry forward. One carrier is calling for large rate increases in 2021.
Canadian supply chain software provider Descartes Systems Group reports increase in profits and sales in the second quarter as the company eyes acquisition opportunities
YRC Worldwide reported trends worse than its competitors for the first two months of the third quarter. Recent postings show the carrier is moving forward on its turnaround by rationalizing its terminal network.
ArcBest’s results for the first two months of the third quarter confirm recent positive updates provided by other less-than-truckload carriers.
Former General Motors Vice Chairman Steve Girsky, who led startup truck maker Nikola to its public debut in June, earlier suggested to GM that its battery and fuel cell technology could create value for both companies.
Deutsche Bank’s Amit Mehrotra becomes increasingly bullish on the future of trucking. The analyst is forecasting earnings growth at the publicly traded carriers much higher than that of his peers.
CMA CGM bonds that traded at 55 cents on the dollar in March are now trading near par.
Trucking jobs are up, but warehouse jobs are up even more
MoLo reveals how its “service-always” operating philosophy is affecting financial performance.
The “less bad” trend may be over for less-than-truckload carriers. August updates from a couple of carriers show modest year-over-year improvement for the first time since April’s nadir.
The Wall Street Journal is reporting that U.S. Class I railroad Kansas City Southern is in play again. Blackstone and Global Infrastructure Partners are reported to have made an offer.
July supply chain survey confirms torrid pace of logistics recovery as transportation capacity remains in short supply and rates bound higher.
Transplace’s third acquisition of 2020 will help manufacturing companies manage inventory and orchestrate supplier networks.
Cold chain facility operator Americold Realty Trust adds three facilities to the network in a pair of transactions.
Strong spot market fundamentals and low inventories prompt UBS analyst Tom Wadewitz to raise truckload carriers’ earnings estimates for the second half of 2020.
The head transportation analyst at Deutsche Bank says a market that sped up through the second quarter has raced ahead so far in the third
Demand headwinds will place “downwards pressure on revenue and earnings likely into 2021” for trailer manufacturer Wabash National. This was part of the rationale behind credit rating agency Moody’s lowering its ratings on the company.
Hong Kong-based 3PL’s warehouse business suffers from shrinking inventories, but forwarding business saves the day, leading to $109 million first-half profit.
8VC founding partner Jake Medwell has become the most active freight tech investor in the past five years. He told FreightWaves how the space is changing.
Triten Real Estate Partners acquires less-than-truckload terminal in sale-leaseback arrangement with XPO Logistics.
3D printing company Desktop Metal adds $575 million in capital to advance its efforts to reshape the manufacturing sector.
Massachusetts-based XYZ Robotics says its robots can pick anything and place it anywhere.
The CARES Act was a Band-Aid for the airline industry, holding tens of thousands of jobs in place for a brief period. Now the Band-Aid is coming off and without a fresh dressing, American Airlines and competitors are planning big layoffs.
After significant deterioration in the second quarter, most numbers for the key trucking sector lenders are stable to improved
The commission overseeing pandemic loans has asked the Treasury Department for virtually every document that was used to grant struggling less-than-truckload carrier YRC a $700 million loan.
Motiv Power Systems can tap $15 million in new cash from its largest investor as it fulfills pandemic-delayed orders for software and power electronics for electric trucks.
Q2 EBITDA increases 53.7% and operating cash flow jumps 86.9%.
Temperature-controlled e-commerce fulfillment provider Perishable Shipping Solutions has closed an $8.7 million funding round. The company plans to add new terminals to its two-facility operation and hire staff.
FreightWaves’ JT Engstrom and Tenney Group’s Spencer Tenney sit down at the FreightWaves Carrier Summit to discuss reasons trucking deals are outpacing broader deal flow.
Declines in Cass freight data continue to outpace the industry by a considerable margin. The firm sees improved results on the horizon.
Carriers with exposure to essential retail are benefiting from increased freight demand as retailers of grocery, household and home improvement goods struggle to keep inventories on their shelves.
New normal for container shipping: active capacity management and digital spot bookings.
Electric mobility startup Xos Trucks announced a $20 million investment to keep up with orders for its electric chassis used by regional and last-mile delivery trucks.
Walmart’s fiscal second quarter comes in well ahead of analyst expectations as e-commerce sales surge. The COVID-related inventory drawdown is a positive for trucking.
An interview with Daseke CFO Jason Bates highlights the company’s financial turnaround. When will the carrier get back on the acquisition trail?
Roadrunner fully exits truckload business and announces financial improvement. The company adds former Celadon CEO to the board.
We talked to supply chain-focused investors about leveraging domain expertise to gain an edge.
Eberhart Capital buys Van Damme Construction, adding to the portfolio of industrial companies it manages and funds.
Taiwanese carrier’s dry bulk business takes a beating.
The coronavirus pandemic remains a “major source of uncertainty for the entire logistics industry.”
Operating profit “turnaround” of more than $300 million reported.
Supply chain companies of all kinds have been targets for VC money in 2020. Learn why in this article.
Although the order volume for new railcars could be “lumpy” industry-wide, the railcar manufacturer hopes to take advantage of increased inquiries.
