Less than Truckload (LTL)

Canadian trucking and logistics firm Mullen Group reports a large drop in profits in its second-quarter financial results. But the company is positioning itself for recovery as business activity comes back.

The FreightWaves SONAR 7.0 release features several key enhancements; each makes the data and analytics platform even more useful to subscribers. Lane Scorecard The first is the Lane Scorecard app. […]

YRC loan called into question by Congressional Oversight Commission. YRC’s board may have had the same concerns with the company’s equity in 2019.

The truckload carriers have reported solid results to start second quarter earnings season, but some load data is still lagging.

After delisting from the NYSE, Roadrunner Transportation Systems announces it will add three new less-than-truckload facilities this summer. The expansion is part of its re-organization focused on asset-light offerings.

Forward Air is expanding again. The company plans to offer traditional less-than-truckload service for the first time.

Unlike Moody’s, agency increases a key rating by one notch, but two agencies are now about even

One rating is increased as long review by ratings agency is wrapped up

Since last year, Banyan Technology has offered LTL carriers a tool to provide special pricing incentives to shippers. Now it is adding data insights to make that tool more effective.

LTL carrier spells out its debt relief with the $700 million of Treasury funds it is getting

Several other companies cited in overall bullish report

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

YRC’s $700 million loan from the Treasury Department raises concerns from industry experts about the survival of the company and whether the deal is worth it.

YRC gives the Treasury Department a 30% equity stake in exchange for a $700 million lifeline.

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

The less-than-truckload (LTL) sector of the trucking sector is generally more stable than the truckload carriers it shares the road with. But that doesn’t mean it has faced the pandemic […]

No one is talking as YRC’s already extended healthcare benefits are nearing expiration. Coverage is set to expire in early July.

French 3PL FM Logistic reports strong organic growth in its recent fiscal year as European expansion progresses. The company didn’t issue annual guidance due to COVID-19 uncertainty.

Deutsche Bank analyst Amit Mehrotra favors a few transportation stocks as the second quarter comes to a close.

Volumes are on the rise again. DDC’s Chad Crotty details what carriers should be doing to keep pace with the recovery.

Because of strained supply chains, will just-in-time delivery be used less by industry? Darren Prokop explores this topic in his latest commentary.

Worse-than-expected data from Cass shows year-over-year declines grew in shipments and expenditures. Intermodal pricing falls out of bed.

The safety of all motorists is paramount. An organizaton that is focused on the safety of truckers is Together for Safer Roads. Learn more about its mission and how it works.

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

YRC Worldwide’s midquarter report was worse than that of its peers and adds to industry speculation that some shippers could be avoiding the carrier.

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.

FourKites says it has cracked the code on delivering more accurate ETA information for LTL shipments

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

Schneider has continued its recent technology innovations with FreightPower, an offering that unlocks more capacity for its shipping partners.

While less-than-truckload volumes may not have rebounded sequentially from April, one sell-side analyst sees acceleration in recent weeks as bullish for the industry.

As protests over the death of George Floyd expand nationwide, road closures and safety concerns are starting to impact freight movements and put the lives of truck drivers at risk

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.  News reports that Uber is re-evaluating non-core units […]

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.

Love’s faces opposition in Arizona; ODFL likely to get tax breaks in Ohio.

The payments have two weeks down, with company in arrears on payments

Digital freight matching has pushed the industry to adapt.

At Wolfe conference, Home Depot said it is still counting on the carrier

April’s 20% year-over-year declines in Cass data may mark the bottom of the COVID-19 downturn.

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

YRC beats expectations with the benefit of outsized gains on sales. Noting volumes were down 24% in April, management says it likely won’t satisfy debt covenants into 2021 and it opts out of questions on its call.

First female judge advocate general and chief counsel, a returning business development leader and a service center manager are announced.

Plus: California Trucking Association, CERES, release report on path to electrification

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.

ArcBest sees “one of the best first quarters” in company history, but COVID-19-related demand headwinds took a toll on April’s results.

Chief marketing officer, service center manager and executive vice president are named.

Saia’s first quarter performance placed its recent terminal expansion campaign on full display. Unfortunately, COVID-19 headwinds will mask near-term results.

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

Revenue per hundredweight is suffering as a result: CFO

Declines in trucking shipments and spend, current and future, highlight the takeaways from U.S. Bank’s first-quarter Freight Payment Index report.

Other metrics helped the LTL carrier post a new record.

Canadian truck driver Nicole Folz learned that she tested positive for COVID-19 two weeks after falling seriously ill during a cross-border run in the US.

Customer service (in many forms) is the key to keeping and/or expanding business during the pandemic.

On road to recovery, Nicole Folz raises money to get more personal protective equipment in the hands of fellow truck drivers.

From quarantine, Canadian truck driver Nicole Folz recounts the scary reality of falling seriously ill hundreds of miles from home during a less-than-truckload run in the United States.

With the belt tightened at YRC, a covenant waiver and benefits contribution deferral are still required.

Short-sea shipper says economic impact of COVID-19 has forced service disruption and employee layoffs.

Carriers are hopeful that Q2 will be much less chaotic than last quarter.

Two former UPS executives have new roles with Atlanta-based companies and a service center manager is named.

Two more significant companies in the trucking and transportation field have implemented layoffs and furloughs. In response to an email query from FreightWaves, Doug Waggoner, the CEO of Echo Global […]

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.

Continued drop in cross-border truck traffic mirrors broad decline in Canadian freight as COVID-19 crushes demand for nonessential goods.

Bob Costello expects many trucking companies to go out of business before the economy recovers from the recession caused by the coronavirus pandemic.

After a surge in freight over the past few weeks, UBS transportation analyst Tom Wadewitz is predicting a rough two months.

FedEx (NYSE: FDX) and its subsidiary TNT International are placing surcharges on all international parcel and freight shipments. The changes go into effect April 6. The changes were described as […]

ArcBest battens the hatches on coronavirus concerns. The company draws down available credit and implements business continuity plan.

Roadrunner seeks voluntary delisting from the NYSE as it continues its reorganization and focuses on asset-light offerings.

Appointments part of strategic plans in Illinois and Indiana; service center manager tapped in Texas.

Family-owned Beaver Express Services notified 160 company drivers and 100 part-time and full-time independent contractors Monday that the LTL carrier is ceasing operations after 77 years.

Morgan Stanley upgrades its freight transportation industry view from “cautious” to “in-line.” The firm lowered its earnings expectations for the group.

One of Canada’s largest transportation and logistics companies says it will temporarily lay off some employees, suspend dividend and slash executive pay as it braces for economic fallout to hit freight.

Citing a deterioration in market conditions, XPO announces that it is no longer looking to spin-off its separate business units.

Stifel Financial sees an OK first quarter, but the picture gets less clear after that, with risks to second-quarter earnings estimates.

Most companies are right near the 25% decline in the market since February 1.

Carol Tomé named new CEO at UPS. David Abney to retire at the end of 2020 after a 46-year career.

Global law firm HFW and Southeastern Freight Lines announce promotions.

Chief Financial Officer Alan Graf to retire at year-end. Corporate Vice President and Treasurer Mike Lenz to assume the role in September.

Profitability is the key to any business staying in business. In trucking it is harder than in many other businesses. Chris Henry explores the “trucking profitability paradox.”

Jim Blaze writes about the outlook for intermodal rail in 2020.

Tonnage headwinds and better yields are the story so far in 2020. Old Dominion Freight Line reports modest revenue decline.

Polaris Transportation Group will get access to more freight for its Canada-to-U.S. less-than-truckload business with the purchase of Toronto-area 3PL brokerage PRI Logistics.

CCM reorganizes executive team, STEMCO picks VP of sales and marketing, and Southeastern Freight appoints Orlando service manager.

Continued strength in northbound less-than-truckload pricing helps drive Canadian shippers’ freight costs in December, the latest results from the Canadian General Freight Index show.

Hubless logistics company assembles “algorithmically created carpools” of LTL freight, to be shipped via full truckload

Winter weather can have a major impact on freight movement. Read meteoroligist Nick Austin’s article about winter weather conditions.

Amazon drops more logistics providers, citing safety, performance issues as thousands of delivery drivers across the country who work for small and medium-size logistics companies that contract with Amazon.com found out in mid-February they may lose their jobs in April

Old Dominion Freight Line announces a 4.9% general rate increase after reporting market stabilization in January.

Transport earnings were rough but may have bottomed.

Acquisitions and strong less-than-truckload performance help bring record revenue to Mullen Group’s trucking and logistics business and offset declines from its struggling oil services.

The response from CEO Jacobs is always the same: Splitting it up will achieve better shareholder value.

Darren Prokop writes about the volatility in trucking, and how ecommerce may help less-than-truckload carriers recover in 2020.

Old Dominion Freight Line sponsors Major League Baseball, and for eight of the 30 MLB teams, the less-than-truckload carrier helps make Florida and Arizona feel like home for six weeks of spring training.

Many measures of activity were weaker but the bottom line improved.

Your name is your face to the world. Forward Air wants a makeover since diversifying from its original business focused on air cargo, so it’s changing its name and logo.

Persistent industrial weakness sends Old Dominion’s fourth-quarter results down

YRC posts weak fourth-quarter, hampered by bad economy

Known on northeastern highways for its iconic orange and white trucks, Preston 151 was founded in 1932 in the Chesapeake Bay area of the United States. The company was started […]

Saia’s q4 EPS comes in light. Operating income, operating ratio hit by higher expenses on multiple fronts

ArcBest posts down q4 results and January didn’t look much better

Too much Amazon traffic may spoil the Brown broth