less-than-truckload carriers

Less-than-truckload carrier CrossCountry Freight Solutions announced Tuesday it has closed on the acquisition of Express 2000 Transportation.

Less-than-truckload carrier Yellow Corp. on Sunday filed for bankruptcy, putting to end the 99-year-old trucking firm.

“As a result of these unfortunate circumstances and the impact on the network, we are limiting pick-up operations in all terminals,” the memo states.

In a first-quarter earnings preview, Deutsche Bank analyst Amit Mehrotra said he expects an in-line type quarter but voiced some concerns.

ArcBest reported better-than-expected results again during the second quarter.

Forward Air raised its earnings expectations again. Management believes it has the ability to generate higher results even in a recession.

Less-than-truckload carrier Saia reports record results for the second quarter and said it has no plans of slowing its growth initiatives.

Old Dominion Freight Line’s 69.5% operating ratio during the second quarter was not only a company best but a best-ever result for a public carrier.

FreightWaves presents the Small Fleet & Owner-Operator Summit on Wednesday, June 15.

The Small Fleet & Owner-Operator Summit takes place on June 15, 2022.

Management from ArcBest said positive yield actions are allowing it to keep reinvesting in the network, which will continue to improve service and margins.

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.”

With record inventories building and bottlenecks easing is deflation next?

XPO Logistics announced it has sold its intermodal business to STG Logistics for $710 million in cash. This was a crucial first step on the path to becoming a stand-alone less-than-truckload company.

Less-than-truckload carrier Saia announced a 7.5% general rate increase Tuesday. The carrier was the latest to announce rate hikes greater than the normal mid-single-digit increases.

Intraquarter updates from less-than-truckload carriers show record third-quarter operating conditions have continued through the first two months of the fourth quarter.

Yellow Corp. rode a hot freight market and an internal overhaul to positive net income for the first time in several quarters.

ArcBest reported record quarterly results on Tuesday, and management sees the possibility of incremental improvement moving forward.

Understanding the differences among truckloads

Less-than-truckload carrier Saia sees tonnage gains carry into the third quarter.

Yellow Corp. announced that its interim CFO, Dan Olivier, will assume the role permanently. The change comes as the company navigates a financial and operational transformation.

High barriers are a deterrent to starting a less-than-truckload operation. Knight-Swift’s recent acquisition sheds some light on the value in owning assets in the space.

FedEx Freight is pointing the finger at less-than-truckload competitors for denying service to customers, which it says flooded its network and forced it to cancel certain accounts.

High demand and tight capacity have less-than-truckload carriers testing years of investments that are designed to handle this type of environment. Many of FedEx Freight’s service woes were captured in the data leading up its cancellation announcement.

Yellow CEO Darren Hawkins sent a formal response to lawmakers seeking proof of compliance with the terms of the $700 million CARES Act loan.

ArcBest’s Danny Loe, head of asset-light logistics and chief yield officer, joins George Abernathy, president of FreightWaves, to chat about the new normal for procuring capacity during the 3PL Summit.

While the less-than-truckload market is experiencing a boom, it’s not without growing pains, according to Recon Logistics’ pricing and analytics expert Curtis Garrett.

Less-than-truckload carrier Yellow Corp., like other LTLs, reports a weather-related falloff in February trends. However, industrial data continues to suggest this LTL freight recovery has legs.

Senate-approved emergency pension relief covering Yellow, ABF Freight employees could hit President’s desk this week.

Less-than-truckload carrier Saia reported a small decline in volumes during February, reversing the more than 5% increase recorded in January. Excluding inclement weather, the carrier said trends remain consistent with January.

Less-than-truckload carrier Old Dominion reported Tuesday that February results were impacted as inclement weather took hold on parts of its network during the month. However, the carrier noted that the deceleration from January’s robust growth rate lasted for only one week.

Most less-than-truckload carriers have implemented general rate increases for 2021. The average increase is in the mid-single digits, ahead of some increases issued in the past and likely indicative of a firm LTL market.

An open letter from activist investor Ancora Advisors says “ineffective capital allocation” and diversification into “margin- and return-dilutive service offerings” have led to inferior results for Forward Air compared to other less-than-truckload carriers.

Less-than-truckload carrier Saia laid out expansion plans on its fourth-quarter earnings call. The carrier believes door count growth can exceed recent expansion efforts.

Less-than-truckload carrier Saia reported fourth-quarter results well ahead of expectations Monday. The company reported record operating results in a “most unique year.”

Yellow Corp. is back. The holding company formerly known as YRC Worldwide has gone back to its roots. However, fourth-quarter results missed analysts’ expectations at a net loss of 37 cents per share.

Logistics provider ArcBest sees positive tonnage trends continue in the first quarter. The less-than-truckload carrier is attempting to break the historical margin decline seen from the fourth quarter to the first.

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YRC announced Monday the further expansion of its regional next-day service at YRC Freight. This rollout will make the service available out of 13 terminals throughout the mid-Atlantic.

The latest request from the congressional commission overseeing COVID-relief loans seeks pricing information from the Defense Department for all less-than-truckload shipments, including those performed by YRC Worldwide.

Past Forward Air CFO Andy Clarke outlines his outlook for improving returns at his former company. He represents an activist investor group, which includes turnaround investment firm Ancora Advisors and Forward’s founder.

Another supporter of improving less-than-truckload fundamentals was identified this week. UBS analyst Tom Wadewitz initiated coverage of the group with a favorable outlook.

ABF Freight head Tim Thorne announces his retirement after a 31-year career with the less-than-truckload carrier. ABF’s current VP of linehaul, Seth Runser, will become the carrier’s new president in July.

Former executives at Forward Air along with an activist investor have been acquiring shares since October in efforts to make changes to the management team, board and capital allocation strategy, which may include divesting “non-core assets.”

The trucking sector has been on a historic run of late, with some pointing to an end nearing. Don’t tell that to Deutsche Bank’s Amit Mehrotra, who sat down with FreightWaves to discuss his positive outlook for the new year.

Frozen Food Express is raising linehaul driver pay by 25% for new solo drivers and 20% for team drivers.

ArcBest sees asset-based revenue continue positive streak in November. This is the fourth LTL carrier to report improving trends in the quarter.

YRC Worldwide reports 3% year-over-year increase in November revenue, following a modest decline in October. The company’s overall trends are still lagging those of some competitors.

Old Dominion Freight Line reports further improvement in less-than-truckload trends since the positive August inflection. This is the second carrier in as many days to show that metrics have accelerated through the fourth quarter.

Less-than-truckload carrier Saia is the first company to provide an update on shipment trends for the fourth quarter, leaving at least one analyst “encouraged.”

Transfix will integrate project44’s visibility platform into its shipment tracking technology as the first initiative under a multiyear strategic partnership.

A commission hearing regarding concerns over CARES Act loans made to businesses “critical to maintaining national security” will likely shed more light on the rationale behind the $700 million Treasury loan to YRC.

Logistics provider ArcBest beats third-quarter expectations by 50%. Improved demand and cost management drive the result.

Uncertainty will be the challenge to overcome as 2020 comes to a close. DDC’s Donna Kintop suggests carriers pay close attention to rising freight volumes, the ongoing pandemic and political tensions both domestic and abroad.

Less-than-truckload carrier Old Dominion looks to build on its record third-quarter operating ratio in what it expects will be a “robust” 2021.

Forward Air sees 60 cents per share in the third quarter. The earnings pre-announcement comes in significantly higher than analysts’ current forecasts.

The less-than-truckload industry continues to expand its footprint. Saia Inc. has added terminal capacity again, this time transitioning into a new 200-door terminal in Memphis, Tennessee.

ArcBest’s results for the first two months of the third quarter confirm recent positive updates provided by other less-than-truckload carriers.

Deutsche Bank’s Amit Mehrotra becomes increasingly bullish on the future of trucking. The analyst is forecasting earnings growth at the publicly traded carriers much higher than that of his peers.

The “less bad” trend may be over for less-than-truckload carriers. August updates from a couple of carriers show modest year-over-year improvement for the first time since April’s nadir.

Mullen Group shores up its cross-border less-than-truckload business as it acquires the outstanding shares of British Columbia carrier Pacific Coast Express Limited.

The commission overseeing pandemic loans has asked the Treasury Department for virtually every document that was used to grant struggling less-than-truckload carrier YRC a $700 million loan.

Declines in Cass freight data continue to outpace the industry by a considerable margin. The firm sees improved results on the horizon.

YRC management believes it will take four to six quarters to complete $400 million worth of equipment replacement.

YRC Worldwide’s second-quarter loss came in ahead of expectations. The earnings call is likely to focus on the company’s path forward.

ArcBest’s second quarter result, a $0.67 per share profit, was much better than analysts’ forecasts for a break-even performance. The company will restore salary and benefit cuts.

Deutsche Bank geofencing data shows the less-than-truckload recovery off of an April bottom spills into June.

YRC Worldwide announces that it plans to receive a $700 million loan under the CARES Act.

Data shows that such preferred carriers are four times more likely to win new loads and customers.

ArcBest joins other less-than-truckload carriers seeing a May rebound from April lows. A 10% stock bump from a rating upgrade holds into the second trading session.

Less-than-truckload demand appears to have bounced off of an April bottom according to reports from carriers.

The courier and less-than-truckload subsidiary of Canada’s postal carrier had a decent first quarter considering the impacts of COVID-19 and C$1 billion expansion of its network.

Stifel’s David Ross announces that he is suspending his rating and estimates on YRC Worldwide and questions the company’s ability to survive.

ArcBest managed through the first quarter largely unscathed by the coronavirus outbreak. That has all changed in April as revenue is off 20% year-over-year.

Saia’s multi-year terminal expansion project drives earnings results well ahead of expectations.

Activist investor Barna Capital seeks to swap out YRC Worldwide board members and make non-executive level changes in management.

While transportation industry participants have an abundance of questions loaded for management teams this earnings season, answers on the future will be tough to provide.