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
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.
FlockFreight pools together LTL freight and ships it via shared truckloads in full truckload containers instead.
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.
Denny Slagle retired as Volvo Group executive vice president and Mack Trucks president in 2018.
Forward Air announces another acquisition as it advances its no-wait growth plan. The Greeneville, Tennessee-based trucking company adds intermodal drayage provider Value Logistics to its roster.
Talk of a European supply chain unit sale may put XPO’s Jacobs at fork in the road.
Carriers, logistics businesses and technology providers make the cut in 2020.
Cargomatic set off a prodigious chain of events after its launch in Los Angeles.
Canadian trucking and logistics company Mullen Group announces the acquisition of customs warehouse operator International Warehousing and Distribution Inc.
Higher costs could cut deep this holiday.
Forward Air adds traditional LTL service to more of its facilities as carriers put more assets to work in the space.
XPO’s Jacobs said facilities will be two of the most highly automated ever built.
Ratings agency mum on whether it liked what it saw at troubled LTL carrier
Cass data for the month of August shows significant acceleration in demand and rates but the comparisons to 2019 still lag other data sources.
With many data points sitting at cycle highs, several industry participants are calling for the trucking market’s bull rally to last well into 2021.
FedEx Direct’s Standard and Premium services now serve 90% of US.
FreightWaves CEO and Director of Freight
Forward Air announces the addition of CLW Delivery to its last-mile network, continuing its acceleration of both inorganic and organic growth initiatives.
EPS numbers nearly double analysts’ median estimates.
Shares soar after hours.
Walmart pushes suppliers, carriers to get their inbound delivery act together.
Accessorial charges also to climb on dozens of services.
Suppliers face noncompliance fines of 3% of cost of goods.
USPack building last-mile scale through acquisitions.
YRC Worldwide reported trends worse than its competitors for the first two months of the third quarter. Recent postings show the carrier is moving forward on its turnaround by rationalizing its terminal network.
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.
ArcBest, Crane Worldwide, Fullen Dock & Warehouse, Grupo TMM, Premier Manufacturing, Southeastern Freight and United Airlines announce promotions and hires.
Whether you’re an employer looking to fill freight-related positions or a job-seeker, Freight.Careers.com is the go-to website.
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.
FedEx and UPS prepare to slam their largest customers with big-time peak-season surcharges.
Delta announces Gil West’s departure, Sterling Transportation reports Cristine Olvera’s arrival and Leadership Florida picks Frederick Wong to join class.
TFI International has agreed to acquire APPS Transport Group in a move that will bolster one of the company’s weak links: its Canadian less-than-truckload business.
Carriers take no chances, shutting down stations as Laura does her business.
The trans-Atlantic may not be the dominant container market, but it remains dependable for hungry ocean consolidators and forwarders.
Triten Real Estate Partners acquires less-than-truckload terminal in sale-leaseback arrangement with XPO Logistics.
DDC’s Chad Crotty recommends carriers take a managed approach between tech integration and applying practical knowledge as a workforce planning strategy.
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.
NEXT Trucking, Fuel Ox, Bendix and Southeastern Freight make strategic employee moves.
Declines in Cass freight data continue to outpace the industry by a considerable margin. The firm sees improved results on the horizon.
DDC’s Crotty says some parts of the supply chain aren’t ready for full-blown switch
Commercial Vehicle Training Association’s Don Lefeve and Roadmaster Drivers School’s Brad Ball discuss the state of CDL training at FreightWaves Carrier Summit.
Roadrunner fully exits truckload business and announces financial improvement. The company adds former Celadon CEO to the board.
Miko Squire says he was fired when co-workers learned he was transgender.
Fastfrate plans to build up U.S. to Canada cross-border business after acquiring small cross-border carrier Bestway, CEO says.
FedEx Freight is expanding its freight distribution operation in Laredo, Texas, near the US-Mexico border.
YRC Worldwide expands regional next-day service throughout the South. The announcement follows similar expansion plans from competitors.
TravelCenters of America has been forced to close some restaurants again as an increase in COVID-19 cases has tightened restrictions on dining out in some regions.
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.
Old Dominion Freight Line says it has expanded its network of service centers by nine so far in 2020. The expansion will facilitate the carrier’s efforts to grow market share.
With possible permanent loss of some of its retail base, TFI will need to take steps that may include acquisitions, the company’s CEO said.
Numbers for the division were far worse than those of peers like Old Dominion and Saia; Deutsche Bank recommends breakup of the company
Forward Air lays out plans to expand its less-than-truckload footprint. More terminals are expected to open this year.
In conference call, CFO Satterfield discusses some flaws with other measures of LTL profitability
The important barometer is down about 10 percentage points on decline in XPO LTL revenue that outstripped cutbacks in expenses.
LTL carrier’s earnings per share beat Wall Street estimates even as revenue was mostly flat with consensus.
UPS’ quarterly results are much better than analysts anticipated.
Cost initiatives and spot market freight ease the impacts of a choppy pandemic-impacted freight market. ArcBest’s improving trends lead to reinstated wages and benefits.
Saia Inc. has a market capitalization of $3.33 billion and has 169 trucking terminals in 44 states.
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.
Earnings per share exceed analyst forecasts
Roadrunner Transportation Systems to spin off global logistics segment, emerging debt-free in the process.
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.
