FleetCor’s third-quarter revenue topped most Wall Street expectations for revenue at $580.8 million, while its earnings per share missed expectations by 46 cents.
Digital brokerage increased revenue, EBITDA
Digitalization is giving freight-industry participants the flexibility they need to deal with the COVID-heightened pace of change.
Echo exec Gustafson has praise for technological changes
Plus COO Shawn Kerrigan joined FreightWaves CEO Craig Fuller on a special episode of Fuller Speed Ahead Thursday as part of FreightWaves LIVE @HOME.
The TSA is doing a better job partnering with airfreight companies on security, but better training and technology are needed to meet future security obligations.
Executives from Horizon Fitness, Estes Forwarding Worldwide and The DDC Group talk during FreightWaves LIVE @HOME about keeping up with the trend of online ordering and home delivery.
Keating, already sued as an organizer in a RICO suit, charged with 1 count by US attorney
Business “rebounded dramatically” in the quarter, Jacobs says.
Euronav exec curses crude-tanker market (literally). Scorpio exec pitches product-tanker promise and throws shade at crude side.
Watch demonstrations from Axele, SkyBitz, J. J. Keller, Trimble Maps, Optimal Dynamics, Transflo, Cargo Chief and Turvo.
No more need to build information technology from the ground up when available cloud-based solutions can cheaply and efficiently modernize a trucker’s operation, experts tell the FreightWaves LIVE @HOME audience.
The once little-regarded special purpose acquisition company is all the rage on Wall Street as $56 billion in blank check companies seek reverse merger targets. A leader of two of those efforts cautions day traders to know what they are investing in.
Manders predicts more volatility in 2021 as businesses struggle for capacity assurance amid unprecedented inventory restocking efforts.
Leveraging more advanced data accuracy tools and processes, shippers and CPGs achieve a higher level of on-time performance by making more informed decisions in real time.
Atlas Air rode the rising tide for air cargo to higher profits in the third quarter.
In today’s edition of The Daily Dash, FreightWaves’ FreightTech Venture Summit looks at the intersection of venture capital and freight. Plus, COVID-19 is accelerating logistics investments and California is using technology to catch emissions cheaters.
Major companies in the transportation and logistics world have taken interest in Canada’s massive undertaking to distribute millions of COVID-19 vaccine doses.
The CEO and co-founder of cross-border digital freight marketplace Forager discusses the sometimes-tricky process of courting investors.
Sunnyvale, California-based Trimble Inc. is a provider of technology solutions for trucking companies, freight brokerages and third-party logistics providers.
Heartland Express raises driver pay 6% across the board and as high as 12% for some.
The need for industry knowledge and strong connections has become key to competing in the crowded logistics venture capital arena.
The freight business is both complicated and asset-heavy. To be successful, tech startups need to know the freight business, its pain points and its limitations.
Mehta and Sweat are keeping a step ahead of the evolving supply chain startup market.
FreightWaves CEO and founder Craig Fuller hosted a Fuller Speed Ahead episode with Truckstop.com CEO Paris Cole and Phil Yates, founding partner at Bregal Sagemount.
Work Truck Solutions founder Kathryn Schifferle shared her journey navigating the venture capital world during the FreightTech Venture Summit.
Ryder is using its fleet and supply chain as a laboratory for new technologies from startup companies it supports.
FreightTech Venture Summit: Figuring out whether to go VC or “bootstrap” in an industry that is “serious” but with some tough issues to overcome
Shipwell CEO Greg Price explains during FreightTech Venture Summit the importance of winning over venture capitalists at the onset of presenting your idea.
Data drives the development of those opportunities, according to Sapphire Ventures Managing Director Kevin Diestel in the fireside chat “VC Perspective: How FreightTech is Different” during the FreightWaves FreightTech Virtual Summit.
“It’s well documented how big this market is and how ripe for disruption this market is,” says Rose Rocket CSO Justin Bailie.
Start small and simple, VC experts say.
TRUX, the leader in dump truck logistics technology, is the latest member of the Blockchain in Transport Alliance (BiTA). Read why.
Ike founder Alden Woodrow talks about the company’s unconventional approach to securing funding and bringing its product to market.
Steve Case helped build AOL. Now, as CEO of Revolution LLC, he works to help other entrepreneurs fund and grow their businesses.
But margins made on those diesel sales were down from 2Q and last year
FreightWaves today announced FreightWaves for Startups, a new initiative aimed at helping startup companies grow into successful organizations.
Certain types of business models are more attractive to venture capitalists.
Big win for ballot measure but it has no provisions that impact trucking
A survey of supply chain executives shows transportation capacity declines at a slower pace in October. The logistics industry continues to experience “rapid” growth.
China still holds the title of the world’s manufacturing floor, but business challenges are leading more companies to source production in other countries.
U.S.-listed carrier reveals the latest on trans-Pacific holiday rush, restocking, e-commerce spike and port congestion.
Logistics provider ArcBest is experiencing some of the strongest tonnage trends in the company’s history. The year-over-year comparisons turned positive in August and have continued to climb.
Disruption, technology and keynote addresses from Shelley Simpson and John Roberts III of J.B. Hunt and Thomas Healy of Hyliion will highlight FreightWaves LIVE @HOME.
A half-dozen basic tips on what drayage truck drivers must consider when picking up a container chassis from a pool.
Expeditors sees drop in air, ocean moves but net income climbs
Cargojet’s record airfreight volume helped adjusted earnings double in the third quarter.
“Regional carriers often step in to fill those critical gaps,” said Elizabeth Elkins.
Landstar System announced that its CFO was stepping down immediately. President and CEO Jim Gattoni will act as the company’s CFO on an interim basis until a replacement is found.
Logistics provider ArcBest beats third-quarter expectations by 50%. Improved demand and cost management drive the result.
YRC Worldwide announced several changes in its third-quarter report. The biggest was that the carrier has already accessed CARES Act relief money to replenish its fleet.
Focus will be to strengthen Coupa’s clients supply chain spend, Llamasoft executive says.
YRC Worldwide announced that it has accessed the first $75 million of the second tranche of the CARES Act loan it received in July. These funds are to be allocated for upgrades to the fleet.
Defunct Rhode Island trucking company was being investigated in connection with accident that killed one of its drivers
Pfizer and Moderna have developed vaccines that need to be deep frozen. Most freight distribution companies and medical facilities don’t have super-cold freezers, so governments and industry are mobilizing resources until less sensitive vaccines come along that they are equipped to handle.
SeaFort Capital-backed Canadian trucking company Jardine Transport Group expands footprint with the acquisition of cross-border carrier Quality Transportation Services.
AOL co-founder and current Revolution CEO Steve Case and Ryder’s Karen Jones to headline star-studded virtual event focused on FreightTech.
Project will inform regulators on ADS safety rules.
Initially, ITG’s impulse was to build its own IT infrastructure and software tools.
Platform Science’s Remote Platform Management products are now available on Samsung’s ruggedized Galaxy Tab Active devices, giving trucking fleets mobile device options with full functionality.
A number of technology companies made announcements of new products or features last week, including Verizon Connect, SkyBitz, Lytx, Rand McNally and Cargo Chief.
PortPro Technologies has introduced a next-generation, web-based TMS built for drayage carriers.
Rate increases, which apply to ground, air and international services, take effect Dec. 27.
Nashville-based truckload carrier also wants to move case from Washington to Tennessee.
Capacity Southeast of Nashville to join Chattanooga-based Reliance
Flatbed carrier Daseke Inc. cruises past third-quarter forecasts. Operations are likely to improve again in 2021 but high-margin third-quarter project freight could create some tough comparisons.
DispatchTrack optimizes routes and delivery schedules for its clients, which enhances their customer delivery experience.
Ocean Network Express is cautious in its full-year forecast as “future cargo demand is very uncertain” while the COVID-19 pandemic wages on.
Universal Logistics credits its turnaround to the resurgence of the North American automotive industry, particularly in the light-truck and SUV markets.
USA Truck’s third-quarter performance was something management had been foreshadowing for the last few quarters. They were adamant that earnings would improve if the market would cooperate.
CFO Col: ‘We’re not upset when we have to use it’
Daimler Trucks continues to build out autonomous expertise with a partnership and investment in LiDAR maker Luminar
Several key metrics in LTL operations show downturn from last year
Flatbed carrier Daseke Inc. posted a third-quarter result that highlighted the company’s restructuring efforts and easily surpassed analysts’ expectations.
Envase Technologies platform will expand its presence in Canada with the acquisition of TMS provider Tailwind Transportation Software.
Onfleet, a San Francisco-based provider of delivery management software, announced on Friday it has raised $14 million in Series A.
Olsavsky says transport spending is in a multiyear ramp-up as the company posts solid third-quarter results.
Appeals court sets Nov. 30 deadline for prosecutors to file petition for rehearing in Pilot Flying J case. Photo: Wesley Tingey/Unsplash
Hub Group sees a strong demand environment continuing as most of its customers are operating with lean inventories. The company expects tight freight fundamentals to create a favorable rate environment in 2021.
Air Transport Services Group’s freighter leases offset financial losses from its grounded passenger planes.
Universal Logistics reported revenue of $365 million during the third-quarter, a 2.8% decrease compared to the same period last year.
Sales of used vehicles set a record, up by two-thirds from a year ago and 40% sequentially
The e-commerce retail and logistics giant’s bottom line is healthier than ever.
‘Significant accomplishments’ in 2020 will be followed by game changers next year.
The strength in truckload fundamentals didn’t really show in Schneider National’s third-quarter report. Lower revenue per truck, intermodal rail congestion and brokerage malaise overshadowed the announcement of a $2 special dividend.
Chassis manufacturer anticipates chassis shortage as COVID-19 subsides as well as desire among pool operators to replace aging units.
Wex said global uncertainty around COVID-19 affected its fuel card payment processing and corporate travel segments during the third quarter.
Shippers that trust their technology also trust their technology provider. That’s why XPO’s Connect platform resonates with shippers.
The future for the Shopify Fulfillment Network could involve highly automated warehouses with robots in different parts of the world, says CEO Tobi Lutke.
Operating income up 21.7% while revenue up just 2.7%; performance far better than Wall Street forecasts
Schneider National announces a $2 special dividend answering the mounting questions around the carrier’s future cash deployment. After the $355 million payment, the company still has ample cash to pursue other initiatives.
Procurement teams would have to change strategies from being reactive to proactive to handle black swan events or global trade standoffs.
Kirby tops earnings expectations on lower costs despite COVID and hurricane hits to demand.
Autonomous trucking company Plus has filed its safety self-assessment report as concerns persist about the usefulness of the voluntary reports in determining the safety of a given self-driving system.
Danish third-party logistics services provider’s bottom-line benefits from easing COVID-19 during summer months.
The Defense Department, the biggest logistics organization in the world, is putting its expertise to work developing a strategic plan for efficiently delivering a COVID vaccine to every corner of the country.
Canadian e-commerce company Shopify grows profits and revenue in third quarter as COVID-19 accelerates move from mortar to online shopping.
Its sale from a bankrupt firm complete, Rand rolls out new product, has been generating cash for more than a decade
Prologis Inc. announces the completion of the largest-ever portfolio sale of logistics warehouses in the U.K.
Werner Enterprises sees the current tightness in the truck market continuing into 2021 as inventory restocking will take multiple quarters to accomplish and drivers are in short supply.
