Finance

Is wireless charging an idea whose time has come for electric trucks? In some use cases, the answer is yes.

Forward Air’s review of the first quarter shows the company has a little more breathing room to upcoming debt covenants.

Temperature-controlled facility operator Lineage plans a public listing on the Nasdaq.

Parcel analyst Satish Jindel predicts FedEx will opt later this year to spin off the Freight unit to the public market.

FedEx is cutting nearly 20% of its Boeing 757 cargo jets because of soft demand and efforts to modernize the fleet.

Proficient Auto Logistics, a newly formed publicly traded auto carrier, issued its first-ever earnings.

TFI International has acquired food-grade tank hauler Entreposage Marco for an undisclosed sum.

Waabi has raised $200 million in an oversubscribed Series B round, led by Uber and Khosla Ventures, the company announced. Waabi plans to launch fully driverless trucks in Texas by 2025.

The air cargo market is enjoying an unexpected boom during the slow season, but it’s unclear whether demand is pulling from the third and fourth quarters to avoid supply chain delays or will continue to build.

S&P Global cut its debt rating on Forward Air for the second time in four months.

ArcBest’s efforts to improve freight mix are producing big swings in its operating metrics, a May update revealed.

Less-than-truckload carrier XPO reported a modest increase in volumes during May, but yields took a notable step higher.

Teamsters update: The union has recently aligned with Amazon workers, won three elections and signed a new deal with a Ryder unit.

Old Dominion’s volume metrics continue to lag peers, largely by design.

Former FreightWaves analyst turned hedge fund manager Seth Holm shared his outlook for transportation stocks at Future of Supply Chain on Wednesday.

Forward Air’s shareholders approved the conversion of Omni’s nonvoting shares to voting common stock, giving the group 35% control of the combined entity.

Transfix is selling its brokerage business to supply chain services provider NFI.

Less-than-truckload carrier Saia reported an acceleration in its volume metrics for May, sending its share price up 14% on Tuesday.

Yellow Corp. gets to exclusively oversee its liquidation for another 90 days, keeping shareholders’ hopes for recovery alive.

Perpetually troubled electric van maker Workhorse Group may be in worse shape than it appears. Little cash and slack orders are two factors.

Supply chain services provider Descartes reported improved fiscal first-quarter results.

RXO,has had its debt rating cut by S&P Global.

Results from BMO’s transportation sector showed deterioration in trucking credit quality.

Two rating agencies have cut the debt rating of beleaguered Forward Air.

C.H. Robinson has had its debt rating downgraded by S&P Global.

Mesa Airlines has stopped flying for DHL Express, citing low cargo demand.

A couple of truckload carriers provide an update on recent trends following a slew of poor first-quarter reports.

Forward Air announced it has hired two-time YRC Worldwide chief financial officer Jamie Pierson.

Tech nonprofit Emerge Career reduces recidivism and poverty rates among convicts by providing access to vocational training and job placement support throughout incarceration and after release.

EBITDA losses at Uber Freight grew in the first quarter, but its president expressed strength in the company’s business model.

Radiant Logistics reported an in-line result for its recent fiscal quarter and said the market has moved off the cycle bottom.

Corpay’s first-quarter fleet transaction revenue declined 15% year over year to $108 million.

Forward Air’s first quarter missed expectations, sending shares 30% lower in pre-market trading Thursday.

GXO Logistics achieved 6% revenue growth in the first quarter, despite challenging freight market conditions.

ABX Air’s pilots union is out of Amazon’s doghouse, resulting in an improved labor agreement and a contract to fly 10 freighters.

Expeditors recorded year-on-year gains in tonnage for both airfreight and ocean freight for the first time in more than two years.

Amazon has deepened its relationship with Air Transport Services Group, agreeing to lease at least 10 widebody freighters for five years in exchange for rights to increase its ownership stake.

Supply chain technology provider Trimble’s first-quarter transportation and logistics revenue totaled $195 million.

Less-than-truckload carrier XPO says robust yield improvement is still on the horizon even after it laps easy post-Yellow repricing comparisons.

The potential energy and environmental gains from autonomous trucking are laid out in a new white paper from Aurora Innovation.

Less-than-truckload carrier XPO easily surpassed analyst expectations for the first quarter as significantly higher yields amplified modest tonnage gains.

RXO looked to various metrics to push a message that things are getting better at the 3PL.

Air Canada said Thursday it changed its mind about investing in two widebody freighters and will rely on its growing passenger fleet to increase cargo capacity.

Schneider National cut full-year earnings guidance by 25% but said contractual truckload pricing turned positive in the first quarter.

Engine maker and power distribution giant Cummins Inc. reported Q1 declines in two of five divisions, but a huge one-time gain juiced profits.

With sequential numbers at C.H. Robinson showing solid improvement, the company’s heavily shorted stock soared in late trading.

Lufthansa’s freighter division faced external headwinds and rising costs that impaired its growth during the first quarter.

Logistics real estate operator Link Logistics continues to see favorable demand for space on the downside of the freight cycle.

Amazon touts benefits of regional fulfillment and delivery model to help drive its first-quarter revenue to $143 billion.

Werner Enterprises missed first-quarter expectations Tuesday and lowered some components of its 2024 outlook.

Geopolitics and internal operating challenges prevented Air France-KLM from generating more cargo revenue during the first quarter, when the freight economy improved.

A second proxy adviser is backing big changes on the Norfolk Southern board, but this one is calling for CEO Alan Shaw to stay.

ArcBest saw big first-quarter tonnage declines as it continued to swap transactional business for contract freight.

ArcBest missed first-quarter expectations on Tuesday.

Modest growth in domestic e-commerce volumes plus improved aircraft utilization from network rebalancing helped Canadian airline Cargojet further stabilize performance during the first quarter, setting the table for growth this […]

An “influential” proxy advisory company has come out in favor of Ancora’s efforts to oust the leadership of Norfolk Southern.

Universal Logistics sees a potential uptick in trucking volumes and rates by the end of the year.

TFI CEO Alain Bedard thinks the company’s U.S. LTL operations are booking too much light freight.

Saia and other less-than-truckload stocks sink for a second time in a week as quarterly reports disappoint.

Soft freight market conditions continue to create market headwinds as Hub Group’s first-quarter revenue declines 13% year over year.

Truckload carrier Pam is running a Dutch auction to buy back its shares, which soared on the news.

Knight-Swift Transportation said Wednesday it will cut costs and focus the bulk of its investments away from truckload-related offerings in the near-term.

In a quarter of tough earnings report, Covenant Logistics performed relatively well.

New Norfolk Southern COO John Orr made his debut on the railroad’s earnings call, but there was little talk about an ongoing proxy fight.

Transportation M&A adviser Spencer Tenney said a stabilizing freight market is helping to support M&A demand.

An in-line earnings report and tepid guidance from Old Dominion sent shares of less-than-truckload carriers lower Wednesday.

UPS is working to transition U.S. Postal Service business from incumbent air cargo supplier FedEx and hire more pilots before the current contract officially ends.

Tesla’s first-quarter revenue fell 9% amid 6,000 worker layoffs in California and Texas.

Heartland Express said Tuesday weak freight fundamentals led to another net loss during the first quarter.

Investors cheered Ryder’s earnings, which weren’t immune to the weakness in the trucking market.

Triumph Financial CEO Aaron Graft talked future opportunities as growth engine TriumphPay flipped to negative EBITDA in the first quarter.

Marten is the latest trucking company to report earnings that reflect the weak trucking market.

Pam Transportation Services joined other carriers Thursday, reporting a poor start to 2024.

The April State of Freight webinar tried to make sense of a trucking market that has now been in the doldrums for two years.

Five auto haulers are combining to launch an initial public offering on the Nasdaq.

Prologis modestly reeled in 2024 expectations on Wednesday as it believes the recent demand weakness is tied to near-term uncertainties.

United Airlines nearly closed the year-over-year gap in cargo revenue during the first quarter as the air logistics sector shakes off a lengthy slump.

Logistics warehouse landlord Prologis modestly lowered expectations for 2024 on Wednesday.

Knight-Swift Transportation cuts its first-half forecast one day after a notable earnings miss from J.B. Hunt Transport Services.

J.B. Hunt Transport Services’ first-quarter earnings miss sent shares 6% lower in after-hours trading on Tuesday.

J.B. Hunt Transport Services reported a miss on first-quarter expectations Tuesday after the market closed.

The air cargo market’s upturn helped Delta Air Lines in the first quarter, but revenues were still lower than in 2022.

New debt to pay a big dividend has led the two largest ratings agencies to reduce their rating of short-line rail operator Genesee & Wyoming.

A Delaware bankruptcy court overseeing Yellow’s liquidation said Wednesday it will hear the case regarding nearly $8 billion in pension withdrawal liability claims against the estate.

UPS told investors it is leaning into automation and robotics to increase parcel capacity, which in turn will allow the company to operate fewer physical facilities.

Yellow’s breach-of-contract suit against the Teamsters union has been dismissed by a federal court in Kansas.

Moody’s held its investment-grade debt rating of RXO, but its outlook was shifted to negative.

First-quarter earnings estimates for truckload carriers have been reeled in again as the industry awaits a meaningful turn in the cycle.

Norfolk Southern’s annual meeting will be May 9, when the push to oust current management comes to a head.

FedEx Express has parked more freighters, reduced aircraft capex and is integrating its daytime freighter network with the Freight segment’s less-than-truckload operation to provide linehaul connecting the U.S. and Europe to boost efficiency.

Onshore well services provider Enservco Corp. has entered an agreement to acquire Buckshot Trucking.

Bosch has a cloud-based plan for load matching; Nikola’s high-pressure product and problems;, and Cummins’ creative stock buyback via spinoff

FedEx said strong cost controls drove its fiscal third-quarter results; its shares soared in late trading.

Bulk hauler Trimac announced the acquisition of North Carolina-based Feldspar Trucking, which hauls materials used for glass and ceramics production.

The two key ratings agencies expressed caution about the debt metrics on GXO’s acquisition of Wincanton. (Photo: GXO)

TFI International has acquired less-than-truckload carrier Hercules Forwarding, which generates over $100 million in revenue each year.

PS Logistics announced the acquisition of flatbed fleet Yordy Transport on Monday.

ArcBest reported another big tonnage decline in February as it continues to replace transactional freight with better-priced business from core accounts.

Lufthansa Cargo saw a big drop in profitability last year because of difficult market conditions.

Supply chain software provider E2open, with Elliott Investment Management holding a big stake, has launched a “strategic review” on its future.