company earnings

A spinoff of FedEx Freight will give investors more options to play the less-than-truckload space.

FedEx said Thursday it will move forward with the separation of its less-than-truckload and legacy package delivery businesses.

XPO and Old Dominion reported tonnage declines in November, but both appear to be anticipating a market recovery.

Descartes reported record quarterly results Tuesday after the market closed.

Industrial data remains under pressure ahead of intraquarter updates from less-than-truckload carriers.

Schneider National announced it has acquired Cowan Systems and some of its real estate assets in a deal totaling more than $400 million.

J.B. Hunt Transport Services is hopeful that Western rail service will improve, allowing it to layer higher contract pricing across record intermodal volumes.

Radiant Logistics beat expectations for the recent quarter and expects an uptick in gross profit during the last quarter of the year as it supports hurricane relief efforts.

Schneider National is hopeful for a better seasonal inflection in the fourth quarter, noting some areas of the truckload market are seeing significant capacity exits.

Schneider National missed third-quarter expectations Wednesday, but shares of the truckload carrier were up 4% in early trading.

Trimble Inc. said its transportation segment performed well during the most recent quarter, with revenue increasing 1.4% to $195 million.

Lineage Inc. announced quarterly results Wednesday for the first time since becoming a public company.

GXO Logistics Inc. sees an upward trend in the global freight market in 2025, boosted by e-commerce.

Forward Air lowered full-year earnings guidance on Monday and said it wouldn’t address press reports that it is up for sale following a messy merger.

GXO achieved 28% revenue growth in the third quarter to a quarterly record of $3.16 billion, boosted by new e-commerce customers.

ArcBest sees weak trends in both its asset-based and asset-light segments during the third quarter.

E-commerce giant Amazon.com Inc.’s North American sales increased 9% year over year to $95.5 billion in the third quarter.

Hub Group reported year-over-year revenue decreases in its intermodal and logistics segments during the third quarter.

Less-than-truckload carrier XPO beat third-quarter expectations and outlined a plan for outsize yield and margin growth.

XPO beats third-quarter expectations, reporting 200 basis points of margin improvement in its less-than-truckload unit.

Truckload carrier Heartland Express reported another loss in the third quarter and said cost cutting alone won’t return it to profitability.

Truck broker Landstar System said Tuesday it expects no material lift in the freight market for the remainder of 2024.

Freight broker Landstar System missed third-quarter expectations Tuesday after the market closed and issued fourth-quarter guidance that was also light of consensus.

Universal Logistics Holdings officials said they expect operating revenues of $1.8 billion to $1.9 billion in 2025.

Pam Transportation said even though its third quarter was bookended by soft demand, it saw sequential improvement in operating trends.

Less-than-truckload carrier Saia’s less favorable freight mix and higher cost structure from a terminal expansion weighed on its third quarter.

Universal Logistics Holdings’ third-quarter financial results show year-over-year decreases in its trucking, brokerage and intermodal segments.

Covenant Logistics Group reports truckload revenue of $198 million in the third-quarter, despite a soft freight market.

ATA economist Bob Costello cites macroeconomic “return to normalcy” as a promising sign for trucking amid stagflation and private fleet growth.

Knight-Swift Transportation beat third-quarter expectations and provided some positive anecdotes around recent demand and pricing trends.

Tesla plans to ramp up full production of its all-electric Class 8 Semi truck in 2026.

Covenant Logistics Group reported 2% quarterly growth in freight revenue, “despite the prolonged general freight market down cycle,” Chairman and CEO David R. Parker said.

Knight-Swift Transportation beat the third-quarter consensus estimate but provided a mixed earnings outlook for the next two quarters.

Continued weakness in freight demand weighed on Old Dominion’s third quarter, but the less-than-truckload carrier said current sequential trends are the best in two-and-a-half years.

Old Dominion Freight Line’s third-quarter came in slightly ahead of analysts’ lowered expectations, but its volume trends remained soft.

Logistics real estate investment trust Prologis said it doesn’t expect the market to positively inflect until mid-2025.

Logistics warehouse operator Prologis beat third-quarter expectations even as some key metrics dipped amid a market “bottoming process.”

J.B. Hunt Transport Services beat third-quarter expectations as it awaits a turn in the freight market.

J.B. Hunt Transport Services reported a better-than-expected result for the 2024 third quarter on Tuesday after the market closed.

Susquehanna Financial Group analyst Bascome Majors cut his earnings forecasts for less-than-truckload carriers following a soft August.

Radiant Logistics said some customers have moved freight deliveries up to avoid a potential dockworker strike or a possible change to U.S. trade policy.

Supply chain SaaS company Descartes reported record quarterly results for the period ended July 31.

Some less-than-truckload carriers reported weaker tonnage trends in August but continued to capture increases in yields.

Less-than-truckload carrier Saia is still recording volume growth even though a year has passed since Yellow Corp. closed and the comparisons have gotten tougher.

A soft macroeconomic environment has resulted in lighter shipments for ArcBest and a delay in the company’s freight swap.

As electrification and infrastructure startups mature, banks get interested in lending money to help the best of them grow.

Fleet fuel card provider Corpay said its North American fleet business “presented a drag on growth” during the second quarter.

Forward Air said Wednesday it will continue to focus on integration and revenue opportunities following a messy merger with Omni Logistics.

GXO Logistics’ second-quarter revenue surged 19% year over year to $2.8 billion.

Transportation provider Hub Group sees Q2 revenue fall 5% year over year to $986 million.

ArcBest misses second-quarter expectations as losses at its asset-light business continue.

ArcBest reported second-quarter results on Friday, which came in light of analysts’ expectations.

Schneider National saw positive indicators in the second quarter as the company reported revenue of $1.31 billion.

Werner’s Q2 earnings saw worsening financial conditions but improving freight market conditions and signs of capacity tightening.

Less-than-truckload carrier XPO bested second-quarter expectations on Thursday as tonnage and yields continued to move higher.

Less-than-truckload carrier XPO beat second-quarter expectations as tonnage and yield increases were complemented by effective cost management.

Freight broker Landstar System shared some signs of market stabilization with analysts on a Tuesday call but said it’s still too soon to say the market has turned.

Broker Landstar System beat second-quarter estimates Tuesday as the period ended a two-year streak of sequential revenue declines.

Universal Logistics Holdings saw increases in second-quarter top-line revenue, along with gains in its trucking and contract logistics segments.

Growth-related costs and a less favorable freight profile led to Saia’s second-quarter results coming up short of expectations.

A first look at less-than-truckload carrier Saia’s second-quarter earnings report.

Covenant Logistics Group sees improvement in the overall freight market but not enough for a 2024 recovery.

Heartland Express’ Q2 earnings saw a net loss of $3.5 million as it works to improve its operating ratio and profitability

Truckload carrier Pam Transportation Services lost money again in the second quarter but said it saw signs of an improving freight market as the quarter closed.

Knight-Swift Transportation said the trough of the freight cycle has likely passed and that it is now focused on growing its less-than-truckload business.

Covenant Logistics Group posts second-quarter revenue of $287.5 million and adjusted earnings of $1.04 cents per share.

Old Dominion Freight Line beat second-quarter expectations Wednesday as it continues to ready its network for an improving freight economy where it plans to win market share.

Tesla has paused plans for a factory in Mexico amid a 43% drop in second-quarter profit.

Truckload carrier Heartland Express reported another quarterly net loss on Tuesday and said improvement in the freight market will not likely occur until 2025.

Logistics warehouse operator Prologis said uncertainty around interest rates and the political landscape should be resolved in the coming months, clearing a path for a more constructive 2025.

Logistics real estate landlord Prologis noted “subdued” but “improving” demand in its second-quarter report issued Wednesday.

J.B. Hunt missed second-quarter expectations Tuesday as soft freight demand and costs associated with carrying the capacity needed to meet future demand weighed on the period.

J.B. Hunt missed second-quarter expectations as volumes remained weak across all modes, expenses remained elevated and intermodal yields declined.

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

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

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.

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

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

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

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.

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.

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

LTL executives highlight shippers moving spillover LTL freight to full truckload amid market weakness and low rates.

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.

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.

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

ArcBest missed first-quarter expectations on Tuesday.

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

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

Broker Landstar System’s first quarter showed the year-over-year declines are lessening while the trucking industry awaits an inflection to a prolonged freight recession.

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.

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