RXO chief sees signs of restocking activity in 2nd half
Transport company RXO, coming off a solid performance in its first quarter as a stand-alone entity, is “positioning ourselves for the inflection,” according to CEO Drew Wilkerson.
Transport company RXO, coming off a solid performance in its first quarter as a stand-alone entity, is “positioning ourselves for the inflection,” according to CEO Drew Wilkerson.
XPO takes share in the fourth quarter, posting adjusted earnings ahead of consensus.
The latest freight congestion data builds a case for better targeting of billions of dollars in new government infrastructure money.
Weak freight markets led to a fourth-quarter downturn at Uber Freight.
The U.S. Postal Service is canceling its mail contract with a California-based trucking company with a history of safety violations and drivers who were involved in two fatal crashes in the past two years.
Supply chain technology provider Trimble Inc.’s transportation revenue was $150 million in the fourth quarter and $604.2 million in 2022.
Cargo thieves stole more than $223 million worth of merchandise in 2022, led by household items, electronics and food and beverage goods.
Ocean carrier Maersk sees a rough second half of the year, when remaining support from contract rates “will disappear.”
Nominate industry-leading shippers for FreightWaves’ annual Shipper of Choice award by Thursday, May 4.
Management from Werner Enterprises parses through 2023 expectations on a Tuesday evening call with analysts.
Transportation firm RXO reports a 19.6% gross margin in the fourth quarter, with brokerage gross margins clocking in at 17.9%.
Amid recession fears, industry experts reveal freight’s most untapped differentiator— next-generation weather technology.
Less-than-truckload booking platform MyCarrier is automating insurance coverage for the 10,000 shipments it is booking daily.
In the inaugural Moving World Report, UP.Partners dives deep into what drives today’s mobility industry — and examines what’s holding it back.
TFI posted in-line fourth-quarter EPS. Revenue was down in a tough operating environment.
Daseke said Monday that supply constraints and cost inflation will again push flatbed rates to new highs in 2025.
Former Celadon trucking officials have settled a fraud case with the Securities and Exchange Commission.
Engine maker Cummins Inc. posted 2022 records in key financial metrics as it worked to integrate its Meritor acquisition.
Burrell Aviation has named an ex-Southwest Airlines director to lure cargo airlines to properties it controls at second-tier airports.
Maintenance downtime at Sun Country cut into cargo revenue and growth was limited by slower Amazon e-commerce business.
LTL carrier sees likely flat operating ratio in Q1 compared to Q4 of ’22.
Truckload carrier Heartland Express missed fourth-quarter expectations Friday.
ArcBest’s fourth-quarter was worse than expected as the carrier manages through the downside of the less-than-truckload cycle.
A cross-section of Industry experts offer thoughts on how transportation management systems will integrate with autonomous trucks.
Hub Group had higher revenue in its logistics, truck brokerage and intermodal segments during the fourth quarter.
Amazon posts solid revenue but retreats on operating and net income.
The tanker industry has a storied history of corporate showdowns. The latest, a three-way tussle involving Euronav, looks far from over.
Jones Logistics said Thursday it has acquired dedicated carrier Nationwide Express.
The day after C.H. Robinson announced disappointing fourth-quarter earnings, the analyst community showed little optimism for the 3PL leader’s near-term future.
GoFreight, a startup freight shipping platform for small and midsized freight forwarders, recently raised $23 million in a Series A round.
Schneider National provided better-than-expected fourth-quarter results Thursday, and its 2023 guidance also came in ahead of analysts’ expectations.
Aligning with certain customers on long-term supply agreements helped Wabash post Q4 and full-year records.
If history is a guide, advanced technologies in Daimler Truck North America’s SuperTruck II prototype could end up in production.
Freight broker Landstar System sees a rocky road in the first half of 2023, with normal seasonality returning by summer.
Enterprise carrier growth shows that U.S. trucking saw more capacity enter the market in 2022, even as the economy cooled.
Hawaiian Airlines faces some headwinds in 2023, including some extra temporary costs to prepare for new business flying freighters for Amazon.
Interim CEO Anderson says cost savings target is $150 million by the end of the year; Global Forwarding drags down Q4 earnings.
Republican lawmakers blame the Biden-backed $1.2 trillion infrastructure bill for boosting inflation and vow to step up oversight on how the money is spent.
The Wall Street Journal reported a federal watchdog group urged an espionage probe into TuSimple leaders, but the company denied the report.
Amid falling tonnage throughout the less-than-truckload complex, Old Dominion posts another large earnings beat.
Canadian Pacific is waiting for the Surface Transportation Board to render its decision on the proposed merger with Kansas City Southern. In the meantime, CP has been conducting interline tests to see how its service might compare to similar truck lanes.
XPO, on its way to becoming a pure-play LTL carrier, received an upgrade in its debt rating from S&P Global Ratings.
Freight projects around the U.S. too large for traditional federal grants have received a major cash infusion.
Daimler Truck created capacity for 2,000 battery-electric trucks in 2022, but the lack of charging infrastructure stunted deliveries.
ONE’s profit dropped by 50% quarter over quarter to $2.76 billion.
German ocean shipping company Hapag-Lloyd said its earnings before interest, taxes, depreciation and amortization jumped by $7.6 billion year over year.
A program launched by Walmart to recruit drivers internally has been vastly expanded.
Logistics warehouse operator Link Logistics reports high occupancy and rents during the fourth quarter.
Startup electric last-mile van developer Arrival cut 50% of its workforce as it tries to reduce cash burn and make it to production.
Cardboard boxes are a humble but key indicator. Manufacturers are quickly halting output of this good in a spooky sign for the economy.
Rail car manufacturer and lessor GATX sees a strong secondary market and continued demand for rail cars to help support the company this year.
Ameriflight, an air cargo contractor for big express companies, is considering a large purchase of uniquely designed, semi-autonomous freighters from Natilus.
Triumph Financial hit a significant milestone in the business it built from the acquisition of HubTran, but TriumphPay’s EBITDA worsened.
The former co-owner of an Iowa trucking company was sentenced Tuesday for orchestrating an elaborate $250,000 check kiting scheme. He is also facing unrelated charges in state court that he allowed more than 800 pigs to starve or freeze to death in his care in December 2021.
A FreightWaves webinar featuring CEO Craig Fuller looked at the current state of the freight market.
Container drayage TMS provider PortPro said it raised $12 million to expand tech capabilities on its platform.
Deliberate perfectly describes Paccar’s approach to trucking electrification. The company offers nine commercial electric trucks but skips the hype.
Knight-Swift Transportation’s 2023 outlook comes in as expected, potentially establishing a higher earnings trough for the carrier.
American Airlines generated strong cargo sales in 2022 even as market conditions deteriorated.
Companies in need of supply chain visibility can now leverage FourKites data through their existing internal platforms.
Covenant Logistics Group is hopeful this cycle won’t bring a material earnings decline, which was the norm in prior downturns.
Marten Transport had a mostly steady quarter, with some improvements and some softness.
Like the other Class I railroads, CSX is bracing for macroeconomic headwinds in 2023. But continuing service improvements will lend support to the company, executives said during CSX’s fourth-quarter earnings call.
Volvo Group set a fourth-quarter record for deliveries, but the OEM said supply chain disruptions and energy costs would impact business.
“It’s not a one-size-fits-all scenario. We can sit down with any merchant of any size, with any kind of commodity and really understand their needs and how both the technology and our carrier network can get that customer delivery experience they are looking for,” said Brad Noble, Passport’s new head of business development.
FreightTech startup Freightos is raising money through a public offering rather than seeking venture capital.
Covenant Logistics Group missed fourth-quarter expectations even when excluding expenses incurred onboarding equipment.
Inflation and other macroeconomic headwinds figure into Norfolk Southern’s projections for 2023. Volume growth is also a big unknown, executives said during NS’ fourth-quarter 2022 earnings call Wednesday.
FitzMark announced Wednesday it has completed its seventh acquisition in the last four years.
By the end of the week, Convoy carriers will be able to receive instant bid feedback on 98% of company-sourced loads.
CN will adjust its operating plan to run faster and potentially shorter trains and concentrate on courting customers where network capacity is available, executives said on the railway’s fourth-quarter 2022 earnings call.
On Union Pacific’s list of resolutions for 2023 are plans to improve rail service, enhance quality of life for craft employees and achieve productivity gains, according to executives on the railroad’s fourth-quarter 2022 earnings call Tuesday.
Paccar Inc. posted record revenue and profits across the board in the fourth quarter, belying predictions of an economic slowdown.
“We are proud to be part of this first-in-history interoperability launch between eBOL platforms,” said CargoX founder and CEO Stefan Kukman.
An online auction on Tuesday will sell the assets of family-owned Art Mulder & Sons Trucking of Holland, Michigan, two months after the refrigerated LTL carrier ceased operations after 50 years.
Uber Freight is cutting about 3% of its workforce, all of the jobs coming out of its digital brokerage activities.
Three defendants who pleaded guilty in the Louisiana staged accident scam will get probation, not jail time.
Temperature-controlled carrier R.E. Garrison Trucking announced it has acquired produce hauler Boaty’s Transport.
The first freight sentiment indexes in 2023 show eroded near-term freight market expectations but signs of a more balanced landscape on the way.
The government opposed a new trial for Nikola Corp. founder Trevor Milton, dismissing his allegations of juror misconduct.
James Reed is the new COO at autonomous truck startup Kodiak Robotics, possessing tech credentials unrivaled among trucking executives.
White House economic adviser Brian Deese points to supply chain improvements while new pressures loom overseas.
As valuations of SPAC-backed startups plummet, one autonomous trucking developer that avoided the FOMO and stayed private is thriving.
“Terminal49’s automation has saved us thousands of dollars a year, but more importantly it’s helped improve customer trust,” said Trade XCelerators’ Spencer Strader.
United Airlines saw cargo revenue dip but exceeded financial expectations in the fourth quarter.
Prologis says warehouse rents will step higher again in 2023.
BoxC’s data-sharing initiative with the FDA showcases the growing need for government regulators to work with supply chains to fix operational inefficiencies.
Colorado startup Outrider, which transforms distribution yards into automated operations, has raised $73 million in a Series C round.
Management from J.B. Hunt sees the potential for a rebound in freight markets by the back half of 2023.
Ryder System Inc. is set to lay off 801 employees after losing work at an Applied Materials semiconductor plant in Austin, Texas.
J.B. Hunt recorded a huge headline miss in the fourth quarter. However, excluding what may be a nonrecurring claims expense, the result was more subdued.
Bank of America analyst Ken Hoexter now has a buy rating on most of the truckload carriers he follows.
Truck-as-a-service startup Forum Mobility enters a $400 million joint venture to establish electric drayage truck charging sites.
The railroads must work with other supply chain stakeholders and even consider sharing infrastructure in order to maintain an integral role within the broader freight transportation network, experts said at the Transportation Research Board’s annual meeting.
Nikola will move battery pack manufacturing to Arizona and files layoffs notice for a former Romeo Power plant.
The California Trucking Association is making its pitch for another injunction to keep AB5 out of the state’s trucking sector.
Nearly 1,400 delivery drivers will split $5.6 million following an eight-year investigation by the U.S. Department of Labor, which found that Parts Authority Arizona LLC and Diligent Delivery Systems misclassified its employee drivers as independent contractors.
Delta Air Lines carried more than $1 billion in cargo below passengers’ feet last year, setting a company record.
It is pretty much acknowledged across the trucking industry that a consolidation of players in autonomous trucking is coming.
Supply chain financing is a major way that corporate behemoths keep cash flow humming. This tool is about to get its moment in the spotlight.