Business

E-commerce platform Shopify said a lack of government stimulus will hold down revenue growth in 2021.

The fourth-quarter average sales price for used tractors and trucks at Ryder was up more than 100%.

Waymo Via and C.H. Robinson are the latest dance partners seeking to choreograph autonomous trucking.

On-demand truck driver platform Haul announced a $10 million funding round as it looks to expand its coverage area for fleets in need of temporary drivers.

After last year’s historic run-up, factories are producing fewer containers and pricing of new boxes is down.

With its new TX-18 automated manual transmissions, Paccar looks to make off-highway and severe service easier on the driver.

Strong revenue and EPS numbers spark an after-hours share rally.

Digital broker Transfix posted record results for 2021. The company’s public listing is on track for the second quarter.

Automation can help “you get a ton more value out of your existing systems and any new investments you want to make in technology,” said Eric Rempel, chief innovation officer at Redwood Logistics.

FIRESIDE CHAT TOPIC: Opportunities for automation abound over the middle and last miles SPEAKER: Sam Saad, VP of strategic initiatives for Gatik BIO: Saad currently heads up strategic initiatives for […]

Management from Radiant Logistics said it has several levers at its disposal to boost the company’s valuation.

U.S. Xpress, which has deep autonomous trucking ties to TuSimple, adds Aurora as a second partner focused on exploring best driverless routes.

Genco Shipping’s John Wobensmith and Ocean Audit’s Steve Ferreira discuss dry bulk shipping industry strategy and opportunities.

Parade garners impressive support from both Silicon Valley and Freight Alley.

On-demand air charter companies are providing emergency parts deliveries for automakers trying to cope with demonstrations blocking a key U.S.-Canada border bridge.

Universal Logistics inks a record year despite challenges. Implied 2022 earnings guidance surprises to the upside by 20%.

They can take my gravy when they pry it from my cold, greasy skillet.

Korean Air’s cargo division is propping up the entire airline with passenger traffic still underwater.

Kendra Tucker joined Truckstop.com as the chief revenue officer in 2020 and became chief operating officer last September.

A Thursday report from logistics real estate investment trust Prologis shows market rents grew at the fastest pace recorded during 2021.

Although attorney involvement is alleged in the indictments, only one lawyer has been indicted in the scheme to crash cars into trucks and collect insurance payouts.

TuSimple says its autonomous trucking software is “feature complete” and it will expand driverless trucking beyond a pilot program.

With Transplace now in the fold, Uber Freight’s revenue topped $1 billion for the last three months of 2021.

Covenant Logistics Group adopts a $30 million stock buyback plan and acquires AAT Carriers.

Forward Air head Tom Schmitt was bullish about the company’s prospects on a call with analysts Thursday. Forward is already on track to achieve recently issued 2023 targets ahead of schedule.

Outrider is adding autonomously precise backing of trailers to the dock to its range of driverless services in distribution yards.

The Variant initiative is not yet showing signs of turning the company around.

The LTL segment remains a work in progress, but analysts are confident that Jacobs & Co. can turn it around.

In its earnings report for Q4 2021 and FY2021, Uber revealed that its delivery segment once again brought in more revenue than its core mobility business.

“What Leaf is doing — building a highly connected and forward-looking view of the industry from the ground up — just can’t be done by incumbents operating within the existing constructs of the industry,” says partner at Sozo Ventures.

COVID container boom continues: Maersk may earn even more this year than in record-trouncing 2021.

Nearly 420 trucking and logistics companies are collectively owed millions of dollars after a California oil distributor ceased operations and filed Chapter 7.

Trimble expects organic revenue growth in 2022, despite the ongoing impact of constrained supply chains across the global economy.

Near-space vehicle producer Destinus just secured $29 million to build out its autonomous, hydrogen-powered hypersonic cargo plane.

Truckload capacity management platform Parade plans to grow its team, expand its capabilities and add third-party partners to increase its value to customers.

Record earnings per share of $2.48 beat analysts’ estimates.

A.P. Moller – Maersk announced the $1.8 billion acquisition of U.S. forwarder Pilot Freight Services. The deal is the company’s latest move in building out a land-based logistics network.

Parsyl closes on $25 million series B while currently monitoring vaccine shipments for 200 million people across 80 countries.

Donald Trump claimed his trade war got the Chinese to bend to U.S. will. But the “historic” trade deal he negotiated didn’t turn out so well.

The current roster of FreightTech unicorns is made up of established companies run by veterans and backed by smart money.

Self-driving technology startup Waabi has introduced its Waabi World simulator, a technology that company founder Raquel Urtasun said is able to “teach” autonomous vehicles how to drive in a safer manner.

High scrapping rates and aging fleets provide support for railcar manufacturing as the company anticipates 2022 financial results that won’t be “obscured by restructuring activities.”

The ride-hailing giant has struggled to turn a profit over the years, but that finally changed in 2021.

“Across the board, our businesses showed momentum and ended the year on a strong note,” said Charles Freund, CFO at Fleetcor.

XPO Logistics has issued 2022 guidance and vows to fully right the LTL segment’s operating ratio by midyear.

TForce Freight pickup and delivery drivers will be driving less and taking on more freight as TFI International pushes efficiency in its U.S. LTL operation, says TFI’s CEO.

With experience from J.B. Hunt, Penske Logistics and Transplace, Mark McEntire looks forward to his new role at procurement and logistics platform Emerge.

The U.S. Postal Service reported a widening net loss in the fiscal 2022 first quarter due to higher compensation and benefits costs. Transport costs rose 9% due to higher fuel expenses.

Embark Trucks’ connection with Knight-Swift will lead to the installation of high-autonomy software by the end of 2022.

Leverage is an AI-powered cloud platform giving logistics providers real-time purchase order visibility.

Via.Delivery has found that 18% of U.S. consumers use buy-online, pick-up-anywhere services when offered at checkout.

Rishi joined the supply chain SaaS company in 2017.

The owner of a Wisconsin fuel company admitted he defrauded investors out of nearly $6.3 million over a two-year period.

No. 7 on FreightWaves’ 2022 FreightTech 25 is landing $935 million in a series E round led by Andreessen Horowitz and MSD Partners.

“Efficiency is the place to start. Look for opportunities to collaborate,” said Ryan Purcell, senior director of supply chain, global health and development at Coupa Software.

Navistar’s new CEO aligns with parent Traton Group in declaring batteries will be the ultimate solution to zero-emission transportation.

USA Truck beats fourth-quarter expectations and plans to grow revenue through expanding capacity east of Interstate 35 and doubling logistics business.

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

Swissport, a company that gets your luggage on and off a plane for partner airlines, is fending off a ransomware attack.

The LTL carrier has ambitious plans for growing its footprint over the next two years.

“There is an urgent demand for new and innovative ways to increase visibility and efficiencies in the supply chain and improve driver experience, and this investment from our new and existing partners is going to power us to fill that need,” says Platform Science co-founder and CEO Jack Kennedy.

Werner Enterprises beat fourth-quarter expectations and announced plans to grow revenue by 10% on average over the next five years.

USA Truck Inc. rode a robust freight and pricing market to revenue of $200.9 million and earnings per share of $1.38 during the fourth quarter.

Shares soar 18% in after-hours trading as investors hail fourth-quarter performance.

“A complete transition to ZET technology would not only help mitigate the impacts of climate change and poor air quality but could eventually lower total cost of ownership for fleets and create job growth in the U.S.,” the report said.

Schneider provided a better-than-expected earnings outlook for 2022 on Thursday. The company also raised margin targets in two key segments.

Supply chain challenges and higher material costs dented profits, but Cummins Inc. posted record revenues in 2021.

The truckload carrier’s OR is one of the best in the industry but it’s being done on a smaller base of business.

Less-than-truckload carrier Yellow Corp. reported better-than-expected adjusted fourth-quarter results Wednesday after the market closed.

Capacity must expand by 15% just to keep up with normal inventory levels and build resilient operations, the company’s research arm says.

Wabash retires its legacy brands to focus on the company name as its swollen backlog all but closes 2022 order books except for multiyear purchases.

Barring an economic downturn, U.S. demand could still be squeezing ports a year from now.

RLS Logistics builds out its national cold storage network with two acquisitions.

Less-than-truckload carrier Old Dominion raised its long-term margin target when it released better-than-expected fourth-quarter earnings Wednesday.

Pitney Bowes’ Nita Lathia becomes head of marketplaces for Passport.

“We’re not looking to replace trains. We’re looking to augment trains with a system that is trying to be competitive as an alternative to trucks,” said Matt Soule, co-founder and CEO at Parallel Systems.

Saia’s operating ratio was up more than 500 basis points in Q4 2021 compared to the final quarter of 2020.

Despite strong revenue growth, freight broker productivity fell sharply.

TuSimple advances its commercialization timetable for driverless trucking and adds intermodal freight for Union Pacific at the Port of Tucson in Arizona.

Bottlenecks and a lack of transportation capacity led many retailers to order extra merchandise in the fall. Inventories are now piling up at points along the supply chain for some companies because they still can’t find the transportation to move the goods, a supply chain survey finds.

UPS posted its best quarterly operating profit in its history. It also declared a 49% dividend increase.

Computer glitches are being blamed for the delay of the Project Infinity rollout that some fear could break up long-standing relationships with carriers.

RenoRun, a last-mile delivery provider of building and construction materials, has raised $142 million in a series B round and announced its expansion to Washington, D.C.

ArcBest raised long-term expectations Tuesday in conjunction with its fourth-quarter results, which were better than expected. The company now eyes doubling its size by 2025.

Daimler Truck North America and two partners plan to spend $650 million to build public electric charging for medium- and heavy-duty trucks.

Forager founder and CEO Matt Silver will continue to work closely with his team as Arrive’s vice president of cross-border solutions.

ArcBest on Tuesday reported fourth-quarter results, which once again outpaced analysts’ expectations.

Chicago-based on-demand freight marketplace closes on $200 million series D round.

Carrier profits are reaching previously unimaginable heights as supply chain disruptions supercharge gains.

E-commerce is becoming an increasing area of focus for some ocean carriers.

J.B. Hunt Transport acquires less-than-truckload furniture carrier Zenith Freight Lines from Bassett Furniture.

“I do believe that companies can make this profitable for themselves,” said Zsofia Agnes Nagy, supply chain adviser at BZLW Consulting.

The FTC wants to know if large corporations are engaging in anticompetitive supply chain practices.

Truckload operator Werner Enterprises is an early evaluator of the latest powertrain technologies, including a hydrogen-powered Cummins engine.

Decades of discord over employee benefit cuts at Navistar could end soon with a $742 million settlement.

A federal grand jury indicted two former trucking employees of Roadrunner Temperature Controlled, alleging the pair orchestrated a scheme to steal nearly $113,000.

Volvo Trucks pulled out the stops to deliver in Q4, but it cost extra for expedited shipping and to navigate parts shortages.

A Mexican government crackdown has shifted volumes of refined products to truck instead of rail. But KCS hopes for that traffic to return to rail, according to executives.

Any concessions that CP would consider as it seeks federal approval to merge with Kansas City Southern must be “reasonable” and grounded in supporting competition, CP said during its fourth-quarter 2021 earnings call late Thursday.

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