Truckload Freight

Broker Landstar System has added two top sales positions following its CEO transition.

PS Logistics announced the acquisition of flatbed fleet Yordy Transport on Monday.

Data compiled in the Cass Freight Index shows the freight market continued to hover near cycle lows in February.

Truckstop’s Brent Hutto shared his view of the truckload market on Wednesday at FreightWaves’ 3PL Summit.

A director at Werner Enterprises has resigned over several disputes, including one over the truckload carrier’s environmental, social and governance policies.

Transportation prices grew for a second straight month in February, according to the Logistics Managers’ Index, but couldn’t keep pace with capacity.

J.B. Hunt President Shelley Simpson becomes CEO on July 1, succeeding John H. Roberts III.

The Texas Supreme Court has set a March 6 deadline for any parties that want to weigh in on the $90 million verdict against Werner Enterprises.

Rising insurance costs, which were flagged by most carriers on fourth-quarter calls, present a headwind to earnings, Morgan Stanley said Tuesday.

Knight-Swift Transportation said Tuesday its president and CEO, Dave Jackson, has stepped down and will be replaced internally with CFO Adam Miller.

Spot market metrics saw a brief reprieve in January as winter storms sidelined capacity, but carriers say the market will likely stay depressed for at least a couple more months.

Cass freight data for January shows continued weakness, but the month included harsher-than-normal winter weather.

Liquid bulk hauler Kenan Advantage Group announced it has entered the dry bulk space with the acquisition of Northern Dry Bulk.

XPO’s fourth quarter exceeded expectations, and the company provided robust pricing guidance for 2024.

Werner Enterprises saw another step down in operations during the fourth quarter.

The Logistics Managers’ Index for January showed transportation prices are increasing as retailers take on inventory.

Pam Transportation Services contends with an auto strike in addition to already depressed truckload demand during the fourth quarter.

Landstar System said Thursday that a recovery won’t likely occur until summer.

Schneider National reported a fourth-quarter earnings miss and a worse-than-expected 2024 outlook on Thursday.

Truck broker Landstar is seeing normal seasonally weak trends so far in January, which is worse than what analysts were hoping for.

Heartland Express’ fourth quarter benefited from large gains from terminal sales, without which the truckload carrier would have seen another loss.

Subpar 2023 results and uncertain 2024 guidance sent shares falling.

Marten Transport reported net fourth-quarter income that was more than 50% lower than a year ago.

Knight-Swift Transportation reported a big fourth-quarter miss on Thursday, but management has hopes normal seasonality will return by spring.

PS Logistics announced its second deal of the year, acquiring the flatbed operation of North Carolina-based ELS.

Equities analysts have trimmed fourth-quarter truckload estimates again after the industry limped through the final days of the year.

December data from Cass Information Systems shows further rate stabilization, albeit at depressed levels.

Werner Enterprises said Wednesday that Nathan Meisgeier, its chief legal officer, has also assumed the role of president of the company.

New CEO must reverse long-term stagnation in shareholder value.

PS Logistics’ latest acquisition adds several hundred trucks to its Southeast operations.

Morgan Stanley told investors on Monday that a rebound in freight demand may happen sooner than many are expecting as inventories need to be rebuilt.

Truckload carrier Prime is moving into the hopper business and took to YouTube to announce its expansion.

C.H. Robinson’s newly created office to support its strategic initiatives is a key step in CEO Dave Bozeman’s plan to revive the struggling brokerage giant.

The Logistics Managers’ Index report showed transportation metrics worsened again in December but noted recent inventory cuts could put the freight cycle back on track in 2024.

2023 brought two large truckload acquisitions, several less-than-truckload carriers picking through a bankrupt carrier’s assets and no resolution to a $3.2 billion merger attempt, among other transactions.

TFI International entered an agreement to acquire flatbed carrier Daseke and said it’s exploring a spinoff of its truckload business.

C.H. Robinson President and CEO David Bozeman says he’s surprised that so much truck capacity remains this late in the cycle.

Trailer orders are returning to pre-2020 normal rates, even with a 38% month-over-month decline in November.

FreightWaves’ December State of Freight webinar looked at the disconnect between healthy volumes and low rejection rates.

Coyote’s senior managers and directors are believed to be targeted in the freight broker’s fourth round of job cuts this year.

Data from the November Cass Freight Index shows both shipments and expenditures remained pressured.

Two Western Pennsylvania-based carriers combine their fleets to better serve the heavy-haul and specialized truck freight markets.

Brent Hutto from Truckstop.com talks about expectations for the spot market at FreightWaves’ Domestic Supply Chain Summit.

Weak transportation metrics were noted in a monthly survey of supply chain executives.

Broker Landstar System announced Monday after the market closed that its CEO Jim Gattoni will be stepping down early next year.

J.B. Hunt and BNSF Railway are heralding a new era in freight transport with an intermodal partnership called Quantum. With it, they hope to add enough value to win market share from truckload freight.

Trucking industry leaders said at an investor conference that the weak truckload fundamentals seen in the third quarter have continued through the fourth.

October freight data from Cass Information Systems showed continued softness into peak season.

Flatbed carrier Daseke reported an in-line third-quarter result Thursday but reduced its full-year guidance.

Supply chain metrics for October showed fundamentals for transportation providers may be improving.

Schneider National missed third-quarter estimates Thursday and cut its outlook for the year by more than 20%.

CRST is making its first acquisition since 2020 by buying BCB Transport.

Heartland Express books a third-quarter net loss and makes changes to cull unprofitable accounts.

Freight broker Landstar System told analysts on a Thursday call that it expects the current freight downturn to last eight quarters, not six as previously hoped.

TFI’s overall third-quarter results reflect a weak macro environment.

The decision to prioritize technology in a business so reliant on people to cover loads and deal with exceptions is poignant in the wake of the past week’s events. 

Knight-Swift Transportation beat lowered third-quarter expectations Thursday and said the market appears close to a tipping point.

Pam Transportation Services sees truckload fundamentals weaken further during the third quarter.

Truckload carrier Marten saw its earnings fall from a year ago and detailed how much of that was caused by higher fuel prices. 

Cass’ shipment data was up sequentially for a second straight month in September and the truckload linehaul index was positive for the first time in more than a year.

A quarterly survey of shippers suggests the trucking market is still distanced from a material recovery.

The sale of BNSF Logistics’ brokerage unit to J.B. Hunt will likely involve layoffs of an unspecified number of employees, parent company BNSF confirmed Friday.

Warehouse Services Inc. said Thursday it has acquired Sky Transportation Services, a dry van fleet specializing in cross-border shipments.

Several data points provided by ACT Research on Wednesday showed the trucking market may be shaking off the downcycle.

Monday data from Cass Information Systems showed slight improvement from July to August but the comparisons to 2022 worsened.

J.B. Hunt Transport Services said Thursday after the market closed it has entered an agreement to acquire the brokerage arm of BNSF Logistics.

J.B. Hunt provided a slightly more positive outlook at an investor conference on Wednesday.

In what is far from a nuclear verdict, a long-running suit against Knight Transportation in California was settled for $400,000.

Truckload carrier management teams are becoming more encouraged that freight markets are balancing.

Less than 2 weeks after representation election, UFCW already charging regional truckload carrier ECM with actions that may be retaliation. (Photo: LFCW)

Transportation and logistics provider GP Transco said Thursday that OpenRoad TMS, which was developed internally, will now be marketed to other carriers.

I Squared Capital has cobbled together a national portfolio of trailer lessors through M&A representing 55,000 units.

Freight markets showed some signs of exiting a recession in August.

A more than $36 million verdict was issued against Werner over its failure to hire a deaf driver back in 2018.

A small group of New Jersey workers at a division of Werner has voted to be represented by a union, a first for the giant truckload carrier.

Knight-Swift Transportation announced late Friday that its top two executives have taken a reduction in base pay amid other cost-cutting measures at the company.

Bulk hauler Trimac said Wednesday it acquired Doyle Sims & Sons Trucking.

Werner has filed an appeal to Texas’ highest court of a verdict that now has a more than $100 million price tag.

Werner Enterprises’ CEO said Tuesday that the worst of the cycle is in the rearview and that he will remember which shippers stood by the company during the recent freight recession.

Shipment declines accelerated in July while total freight spend remained under pressure.

Werner Enterprises reported an earnings miss for the second quarter on Thursday after the market closed.

Multimodal provider Schneider National reeled in its 2023 earnings outlook by roughly 13% on Thursday.

Schneider National announced it has acquired Massachusetts-based M&M Transport Services.

Yellow’s demise is a “huge benefit for our industry,” TFI International CEO Bedard says.

Volume declines ate into TFI International’s revenue in the second quarter.

Truckload carrier Heartland Express reported worse-than-expected second-quarter results on Monday.

Canada-based transportation provider Titanium Transportation announced Monday the acquisition of Georgia-based truckload carrier Crane Transport.

Even truckload companies are being asked how a Yellow collapse might benefit them; Covenant had an answer on its second-quarter earnings call.

PS Logistics said Tuesday it has acquired Jacksonville, Florida-based truckload carrier and broker Rinaudo Enterprises.

Knight-Swift Transportation called out several headwinds facing its businesses as reasons to meaningfully lower its 2023 earnings guidance.

FreightWaves’ State of Freight for July focused on a potential Yellow shutdown and a looming strike at UPS.

Pam Transportation Services reported a sharp decline in earnings during the second quarter.

With sequential comparisons as important as year on year, truckload carrier Marten held on in Q2 compared to Q1.

Mark Manera talks driver fitness at FreightWaves’ Enterprise Fleet Summit.

J.B. Hunt Transport Services missed second-quarter expectations Tuesday and said it is still uncertain how peak season will play out.

Earnings estimates for truckload and less-than-truckload carriers get a notable negative revision at Morgan Stanley.

Knight-Swift provided a second-quarter earnings warning on Wednesday while also confirming the closing of the U.S. Xpress acquisition.

Knight-Swift has closed on the more than $800 million acquisition of U.S. Xpress.

Freight volumes and spending fell sharply in May, but Cass Information Systems maintains an outlook that the bottom of the cycle is near.

Trappers Transport announced Wednesday it has acquired Plett Trucking in a deal that combines two Winnipeg, Canada-based temperature-controlled transportation and logistics providers.