Less than Truckload (LTL)

Electronic payments provider Relay Payments announces Old Dominion Freight Line is the latest carrier to join its platform.

Carol Tomé has blown through UPS like a whirlwind. Will there be long-term blowback?

Less-than-truckload carrier Saia announces the addition of its 20th facility in the Northeast in just the last four years. The LTL market continues to garner incremental investment dollars as demand rises.

The LTL brokerage business is much smaller than that of truckload, but its profitability increased during the quarter.

Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.

The company moves to broaden its footprint and introduce services as it posts stellar fiscal 2021 third-quarter results.

Smith sees no let-up in the demand for the company’s services.

February freight data from Cass shows a deceleration in the growth rates of shipments and expenditures. Recent weather events have only “coiled the spring” for a continuation of high demand and rising rates.

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.

Activist investor Ancora Advisors gains two seats on Forward Air’s board and endorses three others. The company’s former CFO has been brought on in a consulting role.

Federal stimulus checks will be heading by direct deposit and mail to millions of Americans, who will quickly turn to their computers to place online orders that flood parcel networks.

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.

Old Dominion Freight Line said Thursday it would add 800 drivers and more than 400 dockworkers and clerical personnel to meet “robust freight demand.”

The company sets ambitious fleet electrification goals and establishes a center at Yale University to research climate-capture techniques.

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.

Carrier Averitt Express said it was raising pay for its newly hired regional truckload and flatbed drivers. The company becomes the latest to increase driver pay as the industry struggles to seat tractors.

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.

Logistics provider ArcBest Corp. reported that the positive trends in its asset-based segment during January were derailed by poor weather in February. Overall, less-than-truckload fundamentals “remain generally positive,” according to one analyst.

Suvrat Joshi joins logistics software-as-a-service platform FarEye as chief product officer.

Certified B Corporation Flock Freight raises the bar with a commitment to offset carbon emissions from FlockDirect shipments for customers.

Industry expectations surrounding information access and transparency have grown. Qualified IT professionals are required to meet these new demands.

With the need for qualified drivers on the rise, less-than-truckload carrier Yellow Corp. announces plans to hire 1,500 drivers and open new academies in 12 locations across the country.

Cass freight data released Thursday shows a huge surge in freight spending with solid growth in shipments. The report indicated that 2021 is unlikely to produce the “rate relief” to shippers that 2019 provided.

The activist investor group seeking changes at Forward Air said the company’s recent results and guidance are “substandard” in a letter to shareholders. The group also asserts that Forward was “disingenuous” in the way it provided updates on fourth-quarter results, suggesting it was fearful of receiving other board nominations.

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.

CEO Alain Bedard said renting out terminal space is a way to buoy TFI’s real estate portfolio.

Amid heightened scrutiny over the direction of the company, Forward Air’s management team defends its current strategy. Fourth-quarter results were negatively impacted by a December cyberattack.

On podcast, Amit Mehrotra of Deutsche Bank looks over the reports for the last quarter of last year

New unit acquired by Forward Air increases its intermodal footprint.

XPO Logistics sees strong momentum coming off an excellent fourth quarter.

The Teamsters’ Central States Pension Fund could be saved through the COVID-19 relief package.

Brokerage steals the spotlight at XPO amid a record revenue performance and strong 2021 earnings guidance.

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.

The most important number, yield, is up from January 2020 for Forward Air.

Forward Air’s CIO recommends hiring a CIO who has been through a crisis as an important step to prepare for a cyberattack.

TFI International CEO says it will take a hard line on UPS Freight customers who aren’t making the company money after its $800 million acquisition closes.

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.

Old Dominion CEO Greg Gantt says nine service centers were added in 2020 and there are more to come this year — some of them soon.

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.

One notable number in the company’s earnings is that even with growth in all areas, compensation costs were held in check.

Forward Air was on track to beat its Q4 estimates before the December cyberattack.

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.

SONAR is the leading freight forecasting platform. Two recently added SONAR indices are proving very useful to SONAR subscribers. Learn more.

UPS reports all-time annual records for revenue and earnings per share.

Logistics provider ArcBest reported better-than-expected results for the fourth quarter Tuesday. Less-than-truckload tonnage increased by double-digit percentages as weight per shipment jumped 10%.

Forward Air is the latest transportation provider to implement general rate increases amid a tight capacity environment. The company’s 6% GRI will apply to all shipments.

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.

Only a week removed from the $800 million purchase of UPS Freight, TFI International is back at it. On Monday, the company announced the acquisition of van and flatbed carrier Fleetway Transport.

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.

Could DB Schenker be the next TFI International? TFI just agreed to buy UPS Freight. DB Schenker is ready to become a pure play trucker in the U.S. and will be looking for sellers.

UPS lost its 16-year battle to succeed in LTL. Now it’s TFI’s turn.

TFI International CEO Alain Bedard praised the partnership of UPS and the Teamsters and signaled his company’s willingness to work with unions ahead of the UPS Freight acquisition. But will it work?

Maier is succeeded by FedEx Freight head John Smith; Lance Moll will replace Smith at the LTL unit.

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.

TFI International has agreed to buy UPS Freight for about $800 million in its largest acquisition to date.

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.

FedEx Express unveils its dual-hub strategy in Europe and says redundancies will result in significant attrition.

The December rates subindex jumped 13% year-over-year, setting the stage for big rate hikes in 2021, according to Cass data.

“Tai reduces the number of clicks needed to run your operation,” said Tai Software’s Vice President of Sales Sean McGillicuddy. “We’re providing brokers a centralized platform for everything that they do.”

Deutsche Bank’s December geofencing data suggests LTL volumes continued the positive trends seen in the first two months of the fourth quarter.

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.

Uber’s stock dips on a report that Goldman Sachs is looking to unload 38 million shares. The company has made several moves recently to shore up the balance sheet and sustain its cash-intensive brokerage segment.

XPO Logistics’ virtual reality program is designed to promote effective loading procedures at LTL docks, the company says.

A congressional oversight report highlights flaws in the Defense Department’s designation of less-than-truckload carrier YRC Worldwide as a company vital to national security.

While the pace of growth in the supply chain cooled during December, transportation and warehouse capacity remains tight and prices are high.

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.

Indianapolis-based third-party logistics provider FitzMark announces the completion of a majority recapitalization. The transaction allows the brokerage consolidator to further pursue organic growth plans and acquisitions.

The company is not commenting yet on signs the ransomware attack may be over.

Forward Air is the victim of a ransomware attack. Freight is still moving through its network, but it’s become a paper-and-phone process to locate and tender freight and deal with back-office documentation.

Less-than-truckload carrier Central Freight Lines confirmed it fell victim to a cyberattack, which knocked out its operating systems and call center.

Forward Air Corp. says it was targeted by a ransomware attack and warns of a potential deferral or loss in revenue as it recovers.

In slightly modified statement from earlier, company says law enforcement has been contacted about cyber incident

FedEx shares get hammered despite record performance at Express and LTL units. The focus is on lagging margins at FedEx Ground.

Digital freight brokerage Mothership Technologies is suing less-than-truckload carrier Central Freight Lines of Waco, Texas, for nearly $508,000 in unpaid invoices, citing breach of contract.

Sell-side research analysts have made their bets on trucking in 2021. Some believe a continuation in consumer spending and inventory restocking will benefit truckload carriers while others see less-than-truckload carriers gaining traction as the industrial economy advances.

The “IT security incident” at Tennessee-based transportation and logistics firm Forward Air has the hallmarks of a cyberattack, potentially involving ransomware, according to experts.

Shares take a hard hit in after-hours trade despite blowout fiscal second-quarter results across the board.

The Cass Freight Index sees sequential weakness in shipments but logs year-over-year improvement with expenditures data advancing.

The communication from the company to its customers said freight now moving will make it to its destination.

Third-party logistics provider FitzMark announces its third brokerage acquisition of the year and fourth in the past two years.

The chief customer officer looks to be the bridge between logistics departments and C-suites.

Speaking during the North American Supply Chain Summit, Dollar General’s Meghan Nicholas says organizations need to map out a digitization plan — and be prepared to pivot.

J.B. Hunt announces temperature-controlled transportation options have been added to digital freight-matching platform J.B. Hunt 360. Shipper 360 now has more than 10,000 carriers that can transport temperature-sensitive goods.

Forward Air is growing its traditional less-than-truckload terminal count. This time it is adding California’s Inland Empire to the roster.

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

Membership is 20+ and will tackle digital initiatives for an industry mostly still operating on paper

Treasury Secretary Steven Mnuchin had his day in court so to speak. He said he stands behind the YRC loan and others made, noting that many lawmakers wished Treasury had taken on more risk.

Meanwhile, a suit against Amazon suggests federal or state agencies, not the courts, may be where disputes are settled.

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.

How long will Brad Jacobs stay on after split and spinoff of logistics business?

Swift Transportation founder Jerry Moyes has been tapped to lead LTL carrier Central Freight Lines of Waco, Texas, which he owns.

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.

Cold storage warehouse operator RLS Logistics advances growth initiative with the announcement of plans for a new facility serving New England.

Firm to create two independent companies with each trading on the NYSE.

FedEx goes beyond partnerships to swallow e-commerce platform provider.

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.”