Business

Net sales hit the high end of estimates; shares get whacked in after-hours trade.

Arkansas-based USA Truck produced the best first-quarter earnings per share in the company’s 29-year history and the seventh consecutive quarter of record earnings.

Schneider beat estimates and raised full-year expectations Thursday. Management has been “encouraged” by contractual rate renewals so far this year.

Canadian Pacific believes its acquisition of Kansas City Southern is still on pace to receive federal approval sometime early next year.

“Our belief is we can use the software we have built for large carriers to do the last mile and apply that software for local DC-to-DC [shipments] to pass our relay efficiencies and savings to shippers while allowing drivers in our network to earn more,” said Baton’s co-founder.

Forward Air beat first-quarter expectations and pulled forward 2023 financial targets by a full year.

BulkLoads.com said that shippers can now use MyCarrierPackets.com services within its BulkTMS solution, allowing for monitoring of insurance status and safety compliance of carriers.

President Adam Kahn joins the show to demonstrate how fleets use Netradyne to reward good driving behavior and identify areas for improvement.

E2open has completed its first full year as a public company with good numbers, although the stock price is lagging.

Class 8 battery-electric trucks will generate the first meaningful revenue that Nikola can take to the bank.

Robinson’s global forwarding network, years in the making, is having its moment in the sun.

truckload carrier Covenant Logistics had record-breaking net income for the first quarter, with improved operating ratios in its key trucking segments.

The operating plan, which builds upon the precision scheduled railroading-inspired initiative for NS’ manifest network, will be launched sometime late in the second quarter of this year.

A congressional report alleges then-President Donald Trump may have pushed the Defense Department to approve a pandemic loan to help gain Teamsters support in the 2020 election.

Less-than-truckload carrier Old Dominion beat first-quarter expectations Wednesday. The company moved one step closer to doing “something that they said couldn’t be done.”

“There’s been a big shock in the supply chains, and we’re working very hard to get our rhythm back and our operation back and to serve our customers well,” says new CEO Tracy Robinson.

Amazon Freight, the e-commerce giant’s trucking arm, is giving freight brokers 3% or 5% back per load through a partnership with American Express.

Ryder’s earnings rose sharply over the first quarter of 2021, with used truck sales a significant contributor to profitability.

CEO Brad Wright explains how Chunker’s short-term container storage model reduces risk for shippers.

CEO Brett Suma is optimistic about rolling out Loadsmith’s autonomous middle-mile offering between select origin and destination pairings.

Kai Timmermann says the FMC’s “relatively standardized narrow dataset will solve a large portion of operational issues” in global shipping.

UPS persevered through a drop in demand during the first quarter, beating analysts’ profit estimates.

COVID lockdowns in major Chinese cities are bottling up freight shipments, but the full impact on global trade won’t be clear until this summer.

Q1 sales and earnings at the parent of Kenworth, Peterbilt and DAF Trucks posted records despite persistent supply chain issues.

An Illinois-based trucking company has filed Chapter 11, citing a jury award of $10 million in December following a 2019 fatal truck crash involving one of its drivers.

Electric chassis startups from A to Z are tapping a legacy bodybuilder for help while one company creates its own complete electric van.

A three-judge panel heard arguments in a petition to overturn some of the changes in trucking hours-of-service rules implemented two years ago.

FreightWaves founder and CEO Craig Fuller writes about the impact of Chinese lockdowns on global supply chains and the U.S. trucking industry.

Trucking carriers face increased risk of nuclear verdicts, but managing those risks is not insurmountable, if done right and from the start.

T/CCI makes heavy-duty air compressors in China, but it is looking to do what it can to meet customer demands to localize production.

FreightWaves’ Danny Gomez chats with Convoy CEO Dan Lewis and Generational Investment Management partner Joy Tuffield about the numerous benefits that come when competing companies collaborate on sustainability.

Emissions tracking and sustainability experts discuss the importance of tracking emissions and using that data to make informed decisions.

Flatbed truck operator Daseke is being told it should buy back its own stock in light of recent declines in its price.

As Cummins focuses on electrification and growing its traditional engine business, the company is preparing an IPO for its filtration business.

Agility Robotics has raised $150 million to fund development of its walking warehouse robots.

AIT Worldwide Logistics plans to use carbon offsets and emission-reduction strategies to reach net-zero emissions by 2035.

Locomation’s Cetin Mericli discusses how autonomous transport will provide emissions reductions and time savings for long-haul trucking.

Truck Tech is a weekly newsletter providing perspective and context on autonomy, electrification and other technologies impacting the fleet ecosystem.

Volvo reported record Q1 truck sales despite ongoing supply chain interruptions. The company took a $423 million charge for suspending Russia business.

GTI Transport Solutions announced Thursday the acquisition of container transport provider Foxconn Logistics.

United Airlines more than doubled its cargo revenue in the first quarter versus 2019. The passenger side is nearing full health too.

Precision scheduled railroading will help the western U.S. railroad recover service more efficiently, UP executives argue.

Truckload carrier Heartland Express beat first-quarter expectations Thursday.

Management from Landstar System is predicting “another great year” even as spot market fundamentals loosen.

The eastern U.S. railroad says its hiring initiative is going well.

Three more individuals were sentenced in the Louisiana staged truck and bus accident scheme, with two receiving probation and a third sentenced to 18 months behind bars.

The digital freight network has reached a $3.8 billion valuation after raising $160 million in series E funding and $100 in venture debt.

Knight-Swift Transportation lays out a thesis showing how large carriers will navigate a potential downturn considerably better than small fleets.

The U.S. railcar lessor doesn’t expect the war in Ukraine to impact company profits, but the conflict is affecting operations in Poland.

P.A.M. Transportation Services saw significant growth in its truckload and brokerage units during the first quarter.

Join FreightWaves for the Net-Zero Carbon Summit on April 22.

Middle-mile technology company Warp is joining the Urban Freight Lab to help study last-mile delivery efficiency.

Logistics real estate operator Prologis beat first-quarter estimates and raised its outlook for the year. The company sees no near-term loosening in warehousing markets.

Truckload carrier Marten set several records in its quarterly earnings report, and its operating ratio net of fuel surcharges was one of the strongest numbers. But its labor costs were up significantly.

A state court judge has refused to issue a restraining order to stop two ex-FourKites employees from defecting.

“TriumphPay has already made substantial progress in bringing much-needed innovation to the crucial payments component of the freight industry,” said Melissa Forman, the company’s new president.

China took steps to restart export manufacturing, but strict COVID measures pose a continuing challenge for logistics providers.

MHS and Fortna, two companies in the logistics tech space, will combine to form a new multinational provider worth up to $4 billion.

The accelerator firm’s Supply Chain Innovation Platform connects Fortune 500 companies with FreightTech startups for continuous logistics innovation and efficiency.

Logistics real estate heavyweight Prologis beat first-quarter expectations and raised full-year 2022 guidance on Tuesday.

On its first-quarter call with analysts, management from J.B. Hunt said demand indications from customers have been strong. The path is likely not as easy for smaller players in the space.

J.B. Hunt Transport Services reported first-quarter results well ahead of analysts’ forecasts Monday after the market closed.

Texas Gov. Greg Abbott ended his border policy of second inspections of commercial trucks crossing from Mexico on Friday, but experts said it already caused supply chain problems.

FreightWaves Founder and CEO Craig Fuller analyzes the impact of the latest Chinese lockdowns on the supply chains between China and the U.S.

DHL is talking to customers about sustainability and measuring emissions, DHL Supply Chain’s Jason Gillespie said during this episode of Net-Zero Carbon.

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: A development is capitalizing on the booming California-Mexico trade; the Port of Galveston will receive $11 million for a channel dredging project; a Canadian auto components maker expands its Mexican plant; and Border Patrol rescues migrants locked in a railcar.

This week: FedEx supports STEM exhibits at the new Amelia Earhart museum; Love’s donates to St. Christopher Truckers Relief; and One Tree Planted helps celebrate Earth Day.

A torrent of backlogged cargo in China is expected to overwhelm global ports once Chinese authorities end widespread COVID lockdowns.

The family of a Maine commercial fisherman who was struck and killed by an Amazon delivery driver in July 2020 recently filed a negligence lawsuit against the e-commerce giant.

The integrated firm will go live during the fourth quarter under the Uber Freight brand.

Global logistics giants Geodis and Ceva plan to lay off 450 workers in the Columbus, Ohio area by Sept. 30.

Flatbed operator Daseke has received a mostly positive review from Moody’s, and the company’s management has responded with a bullish outlook for its trucking business.

Cowen analyst lowers earnings estimates for truckers as data showing a loosening market mounts.

Shelley Simpson of J.B. Hunt will be the industry keynote speaker at The Future of Supply Chain.

PowerFleet data helps increase driver utilization by relieving them from having to chase equipment or wait longer than needed at facilities.

With unbeatable fleet rates, rewarding your drivers has never been easier.

Delta Air Lines grew Q1 cargo business because of supply chain chaos like that unfolding in Shanghai now. (Photo: Delta)

The White House is pressuring Texas Gov. Greg Abbott to lift additional truck inspections as lines of cross-border trucks grow.

Independent contractor law AB5 has been blocked so far from being implemented in California’s trucking sector, but the question is before the Supreme Court and its ultimate ruling may eventually make the statute the law of the land in the Golden State.

FreightWaves’ Thomas Wasson discusses how technology can help enterprise fleets with Transix’s Beth Howard.

FreightWaves Founder and CEO Craig Fuller explains the boom and bust cycle of the trucking industry.

Automated trucks and buses are expected to number 1.2 million annually by 2032 compared with about 1,000 in testing today.

Attend the FreightWaves Enterprise Fleet Summit on Wednesday, April 13!

“We are experiencing rapid growth across different customer segments and verticals, and more and more companies from non-trucking industries are asking to use our products. We believe that as we are entering our next phase of growth, the time is right to implement this change,” said Motive CEO Shoaib Makani.

The pandemic and the supply chain crisis was a one-two punch for United Road Services, the car hauler that moves 4 million vehicles a year.

“We have a huge opportunity to let the world know that a tracking solution like this exists. We are going to take this funding and make sure that happens,” said Tive founder and CEO Krenar Komoni.

With record inventories building and bottlenecks easing is deflation next?

With order fulfillment lagging, Nussbaum Transportation counts on its maintenance skill to keep older equipment running longer.

The sharp fall in the Transport average may need to be taken with a grain of economic salt.

A mother-daughter team has pleaded guilty to participating in a staged truck accident in New Orleans in 2018, joining 33 others who have made the same plea.

Swedish truck maker AB Volvo halted its business in Russia because of the invasion of Ukraine. Now it is counting the cost.

Family-owned trucking company, L.W. Miller Cos. of Logan, Utah, says it will shut down its livestock division on Monday.

FreightWaves Founder and CEO Craig Fuller analyzes methods to generate more revenue in a trucking downturn.

Truck brokerages have been barred for years from getting a key terrorism-related Customs designation that allows for easier passage; that may soon change.

Commercial truck trade with Mexico has slowed after Texas Gov. Greg Abbott’s increased border security measures were implemented Wednesday.

Maersk is one of the world’s dominant container shipping lines. Now it is making a play to be a major cargo airline.

Concerns on declining demand and falling freight rates prompted Bank of America to issue ratings downgrades for multiple transportation stocks.

Truck Tech is a weekly newsletter providing perspective and context on autonomy, electrification and other technologies impacting the fleet ecosystem.

Private equity firms are looking hard at trucking brokerages, and the owners of those companies need to keep their risk profile in check. Photo: FreightWaves

The CEO and co-founder of Treet answers questions about his resale platform and the growing recommerce industry.