Saia looking to expand terminal count and margins
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.
Stay Up to Date on the LTL Industry
Less than truckload (LTL) refers to shipping services for relatively small loads of freight (typically between 150 and 15,000 pounds). One of the main benefits of the LTL industry is cost efficiency. LTL trucking allows shippers to combine several loads going to the same facility into one truck, creating economies of scale, with each shipper only paying for the space they use. On the flip side, LTL shipping can take longer to plan and organize. Shipments may also take longer since the truck has to be filled before it leaves and may have to make multiple stops or transfers on the way to a given destination .
The explosion in online shopping sparked by the pandemic has made a marked impact on the LTL industry. As online shopping grows, demand for LTL trucking has increased significantly, putting stress on an already-burdened industry. To better understand the state of the LTL industry, we teamed up with BlueGrace Logistics to survey shippers about their approaches to LTL trucking in today’s environment.
Download our report to learn more: Evolution of LTL
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.”
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.
Tens of thousands of data points on who got what are now available for perusing
Most companies have women now, but a second rule would deal with diversity or sexuality.
A November supply chain survey shows the rates at which transportation capacity is shrinking and pricing is climbing are increasing.
The company pools multiple less-than-truckload shipments onto one truck.
Forward Air adds to non-airport less-than-truckload service by opening a facility in Bethlehem, Pennsylvania.
YRC head Darren Hawkins has “a lot of confidence” heading into 2021. Network restructuring initiatives are expected to be greatly advanced as the carrier starts accepting delivery of new equipment.
A case that started with a trailer door that wasn’t closed goes to federal court, ends up with a loss for the LTL carrier
Air cargo carrier names Yulia Celetaria health care director and forms vaccine task force.
Loadsmart has added less-than-truckload (LTL) and rail services as the digital freight brokerage continues to expand its multimodal offerings. The expansion, announced Tuesday, allows customers to book shipments across all […]
Garner Transportation Group president and CEO is the second woman to chair the American Trucking Associations.
XPO is `very comfortable with where we are’ heading into 2021, Jacobs says.
Business “rebounded dramatically” in the quarter, Jacobs says.
ArcBest CEO Judy McReynolds talks about the company’s customer service model and how it has helped them thrive throughout the pandemic at FreightWaves LIVE @HOME on Thursday.
Shipwell CEO Greg Price explains during FreightTech Venture Summit the importance of winning over venture capitalists at the onset of presenting your idea.
Logistics provider ArcBest is experiencing some of the strongest tonnage trends in the company’s history. The year-over-year comparisons turned positive in August and have continued to climb.
Logistics provider ArcBest beats third-quarter expectations by 50%. Improved demand and cost management drive the result.
YRC Worldwide announced several changes in its third-quarter report. The biggest was that the carrier has already accessed CARES Act relief money to replenish its fleet.
YRC Worldwide announced that it has accessed the first $75 million of the second tranche of the CARES Act loan it received in July. These funds are to be allocated for upgrades to the fleet.
ZeroNorth makes board appointments, and Southeastern Freight Lines promotes a service center manager.
DispatchTrack optimizes routes and delivery schedules for its clients, which enhances their customer delivery experience.
CFO Col: ‘We’re not upset when we have to use it’
Several key metrics in LTL operations show downturn from last year
Operating income up 21.7% while revenue up just 2.7%; performance far better than Wall Street forecasts
Higher U.S. operating costs take center stage in discussion of company’s outlook.
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.
Revenue climbs to more than $21 billion, a near 16% gain.
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.
Less-than-truckload (LTL) carrier Old Dominion sets a new operating record on its way to a 19-cents–per-share third-quarter earnings beat.
Deutsche Bank’s geofencing data shows less-than-truckload terminal activity at XPO accelerated during the third quarter while other carriers saw moderation.
Seven questions for TrophySmack’s Matt Walsh about having a diversified fulfillment strategy.
In assessing customer service in transportation, data is necessary but not sufficient.
Forward Air sees 60 cents per share in the third quarter. The earnings pre-announcement comes in significantly higher than analysts’ current forecasts.
The CARES Act oversight commission is still waiting on a response from the Defense Department regarding its “national security” designation of YRC Worldwide, which allowed the carrier to obtain a pandemic relief loan.
Rumors started swirling on Friday that LTL carrier Central Freight Lines was shutting down its western division, which company President Michael Brennan told FreightWaves are “100% untrue.”
YRC subsidiary can’t produce evidence of any female drivers at Olive Branch facility since at least 2005
Teamsters and YRC Worldwide agree to implement $7,500 hiring bonuses to new drivers. YRC will select the regions for the new bonus pay but the local unions have the autonomy to decline them.