Cargojet wants to dump eight aircraft that were part of of its growth strategy and postpone converting two more aircraft into cargo jets as the weak cargo market shrinks profit margins.
Flatbed carrier Daseke reported an in-line third-quarter result Thursday but reduced its full-year guidance.
Hyliion Holdings is throwing in the towel on its Hypertruck ERX natural gas-electric powertrain to focus on generator technology.
Daimler Truck reported lower deliveries in Q3, a contrast to its major competitors who reported higher sales but warned of a coming slowdown.
Truck brokerage RXO beat third-quarter estimates Tuesday and said it will continue to expand its platform and take market share on the downside of the cycle.
Air Transport Services Group’s underperformance cost CEO Rich Corrado his job on Monday.
Schneider National missed third-quarter estimates Thursday and cut its outlook for the year by more than 20%.
Nikola’s recall cost burden and lack of production lead to a dismal Q3 earnings report but the company sees light ahead.
Cummins Inc. reported higher profits and sales in the third quarter as it generated record working cash but foresees Q4 pullback.
Werner Enterprises reported a worse-than-expected result for the third quarter as margins in both its trucking and logistics segments deteriorated from the second quarter.
Supply chain technology provider Trimble posted impressive Q3 results but said transportation revenue could slow down in the next quarter.
Forward Air will primarily focus on less-than-truckload opportunities moving forward as it tries to exit a burdensome merger agreement.
Air Canada said it is taking a slower approach to adding cargo jets because there isn’t enough demand now to justify the investment.
Forward Air said it would accelerate a strategic review of its assets after missing third-quarter consensus and providing a weaker-than-expected fourth-quarter outlook.
XPO said Monday it plans to increase capital spending to respond to a tightening capacity dynamic following Yellow’s closure.
XPO reported a third-quarter-earnings beat on Monday as fallout from a competitor’s closure overshadowed a soft macroeconomic environment.
ArcBest’s less-than-truckload operation saw a meaningful step up in profitability in the third quarter as it remains selective on market share opportunities.
Universal Logistics Holdings released its third-quarter financial results on Friday, reporting year-over-year decreases in its trucking, intermodal and brokerage segments.
ArcBest reports a third-quarter earnings beat when adjusting for several one-off items.
Hub Group reported $1 billion in revenue and earnings per share of 97 cents during the third quarter.
Link Logistics added 24 million square feet of space during the third quarter while holding occupancy level.
Heartland Express books a third-quarter net loss and makes changes to cull unprofitable accounts.
Truckload carrier Covenant Logistics Group said the freight market is bottoming out, and the company is eyeing only a “modest decline” in earnings next quarter.
Chattanooga, Tennessee-based Covenant Logistics Group’s third-quarter revenue declined 7% year over year to $288.7 million.
Rush Enterprises experienced softer Class 8 aftermarket revenue at its dealership network, but it had other business to replace it in Q3.
Truck leasing giant Ryder posted total revenue of $2.9 billion and earnings per share of $3.58 during the third quarter.
Old Dominion sees a 6% uptick in shipments following Yellow’s closure but says the industry’s freight reshuffle hasn’t been permanently settled.
Wabash’s reorganization is continuing to pay off as service revenue rises as trailer sales fall amid improved profits.
Consistent with its rivals, Traton sees orders slowing but strong deliveries across its brands including Navistar.
Old Dominion Freight Line reported better-than-expected third-quarter results as Yellow’s departure provided a tailwind.
Knight-Swift Transportation beat lowered third-quarter expectations Thursday and said the market appears close to a tipping point.
Pam Transportation Services sees truckload fundamentals weaken further during the third quarter.
Automaker Tesla’s plan to build a factory in Mexico could be delayed past 2025, CEO Elon Musk said Wednesday.
Volvo Group reported strong third-quarter results but reported slowing orders as trucking demand returns to normal.
Logistics warehouse owner Prologis on Tuesday noted some cracks in demand, which it attributed to interest-rate policy and geopolitical fears.
Logistics warehouse landlord Prologis beat expectations for the third quarter on Tuesday.
Equity research analysts are taking less-than-truckload earnings forecasts higher following the industry’s successful absorption of defunct Yellow’s freight.
Radiant Logistics is looking to deploy its unleveraged balance sheet on M&A.
J.B. Hunt provided a slightly more positive outlook at an investor conference on Wednesday.
Less-than-truckload carrier Old Dominion reported a large turnabout in operating trends during August.
Supply chain visibility provider Descartes leans on past acquisitions to grow through the downcycle.
ArcBest said Monday that shipments from its primary less-than-truckload customers have increased 20% since June.
Knight-Swift Transportation announced late Friday that its top two executives have taken a reduction in base pay amid other cost-cutting measures at the company.
Lightning eMotors has enough parts to build electric vehicles through the end of the year, but it needs new capital soon to stay in business.
Second-quarter cargo revenue at Air Canada fell 24% — not so bad in the context of global market conditions.
Electric bus and battery maker Proterra Inc. won’t fight an Aug. 17 delisting from the Nasdaq as it works on a bankruptcy reorganization plan.
Yellow Corp. released second-quarter financials Wednesday following a bankruptcy petition earlier in the week.
Atlanta-based FleetCor Technologies reported fuel transaction revenue of $399 million in the second quarter, a 6% year-over-year increase.
Hyzon Motors is willing to consider selling itself or merging to keep making progress on its fuel cell system.
Asset sales in Q2 helped Nikola add cash to its balance sheet, but losses widened as ramp-up of fuel cell trucks consumed cash.
Less-than-truckload carrier XPO said it would add capacity to meet the increased demand created by Yellow’s departure.
Less-than-truckload carrier XPO saw shipments and tonnage surge in July as a competitor shut down.
Texas-based flatbed carrier Daseke does not expect to see improvement in the freight market the rest of the year.
Werner Enterprises reported an earnings miss for the second quarter on Thursday after the market closed.
Supply chain technology provider Trimble posts impressive Q2 results and says truck spot rates may have “bottomed out.”
Multimodal provider Schneider National reeled in its 2023 earnings outlook by roughly 13% on Thursday.
Less-than-truckload provider Forward Air missed second-quarter earnings expectations but management noted it’s seeing a lift from Yellow’s shutdown.
Like other trucking OEMs, Daimler Truck rode higher prices to solid second-quarter results while incoming orders fell.
Truckload carrier Heartland Express reported worse-than-expected second-quarter results on Monday.
Universal Logistics reported revenue of $413 million and earnings per share of 90 cents during the second quarter.
ArcBest reported an earnings miss Friday but that may not matter as its less-than-truckload unit is quickly taking on volume as a competitor winds down.
Hub Group reported $1 billion in revenue and earnings per share $1.44 during the second quarter.
Navistar saw a big drop in orders, but deliveries of new International trucks helped parent Traton to strong second-quarter results.
Rush Enterprises posted strong Q2 sales and profits, relying on its parts and services business amid trucking headwinds.
Truck broker Landstar issued worse-than-expected third-quarter guidance Thursday and said most metrics are still underperforming normal seasonal trends.
Old Dominion reported what will likely be best-in-class results for the second quarter and said recent turmoil at competitor Yellow Corp. hasn’t altered its strategy any.
Wabash reported record Q2 earnings because it was able to price its trailers and truck bodies higher than the cost of materials.
What’s behind Paccar’s stunning Q2 profits? Inflation is part of the answer. So is a burgeoning parts footprint.
Paccar continued a string of record quarterly performances in Q2, posting a 70% gain in profits and a 24% increase in sales.
Logistics real estate operator Link Logistics upgrades its portfolio in the second quarter, booking a 52% increase in leasing spreads.
Stock analysts size up less-than-truckload market dynamics following weeks of turmoil at carrier Yellow Corp.
Knight-Swift Transportation called out several headwinds facing its businesses as reasons to meaningfully lower its 2023 earnings guidance.
Pam Transportation Services reported a sharp decline in earnings during the second quarter.
J.B. Hunt Transport Services missed second-quarter expectations Tuesday and said it is still uncertain how peak season will play out.
Logistics real estate giant Prologis beat second-quarter estimates Tuesday but lowered its rent growth forecast for 2023 as the market cools from peak activity.
Earnings estimates for truckload and less-than-truckload carriers get a notable negative revision at Morgan Stanley.
Knight-Swift provided a second-quarter earnings warning on Wednesday while also confirming the closing of the U.S. Xpress acquisition.
Less-than-truckload carrier Yellow reported another large drop in volumes Friday after the market closed.
ArcBest holds on to tonnage growth in the April-May period but yields take a notable step lower.
Less-than-truckload provider Forward Air said Tuesday that demand momentum has improved as the second quarter has progressed.
Less-than-truckload carrier XPO reported another modest tonnage decline in May, which was in line with trends at Saia and much better than Old Dominion’s report.
Less-than-truckload carrier Old Dominion reported no seasonal inflection in volumes during May but continued to push yields higher.
Less-than-truckload carrier Saia reported second-quarter volume metrics on Friday that imply a high-single-digit sequential increase in tonnage from the first quarter.
Supply chain visibility provider Descartes beat first-quarter estimates, and management said they are optimistic about recent trends.
Freight broker Landstar cut its second-quarter revenue and earnings guidance as volumes and revenue per load were worse than expected halfway through the period.
First-quarter financials were iffy and cash was tight, but Workhorse electric stepvan manufacturing made progress.
Radiant Logistics said it will continue to use free cash flow and potentially debt to fund share repurchases and acquisitions.
Daseke pulled in its full-year 2023 outlook on Tuesday as the freight market has failed to yield normal springtime demand improvements.
Cold storage provider Americold raised 2023 guidance even though it remains uncertain how much a recent cyberattack will impact results.
Less-than-truckload carrier XPO reported better-than-expected first-quarter results and said it remains on track to achieve long-term profitability targets.
Werner Enterprises reported first quarter revenue of $832.7 million, up 9% year over year compared to the same period last year.
Less-than-truckload carrier Yellow Corp. recorded a net loss during the first quarter as it attempts to overhaul its network.
Tech solutions firm Trimble reported $154.9 million in first-quarter transportation revenue amid a softening freight market.
U.S. truck engine maker Cummins on Tuesday reported first-quarter revenue of $8.5 billion, boosted by strong global demand for its products.
Forward Air noted some optimism in its lowered outlook on Tuesday, saying recent customer conversations have been promising.
Truckload carrier Heartland Express missed first-quarter expectations.
Saia’s revenue trends in April are much better than its less-than-truckload peers.
Universal Logistics Holdings saw revenue declines in its trucking, brokerage and intermodal segments in the first quarter.
ArcBest on Friday stood by its strategy to take on lower-margin business.
Hub Group had year-over-year revenue declines in its intermodal and logistics segments during the first quarter.
