Truckload Freight

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.

Heartland executives used the UBS transportation conference to boast about the success of the company’s driver pay protection program.

The Logistics Managers’ Index registered contraction for the first time ever in May as transportation-related metrics weighed heavily on the data set.

Alterna Equity Partners announced Wednesday the acquisition of waste and industrial materials carriers Attaway Hauling and Choice Bulk Carriers.

Freight broker Landstar cut its second-quarter revenue and earnings guidance as volumes and revenue per load were worse than expected halfway through the period.

Trimac Transportation completes the acquisition of propane and butane carrier Transport Sylvain Lasalle.

A 5-year-old judgment against Werner has been upheld on appeal by a Texas court, with the amount now standing at more than $100 million.

Transportation and logistics conglomerate R&R Express announced its second deal of the year on Monday.

The outgoing head of U.S. Xpress is joining a Chattanooga, Tennessee-based nonprofit that focuses on sustainable mobility entrepreneurs.

Data published Monday from freight payments provider Cass says the industry may be close to entering a new cycle.

U.S. Xpress has laid off about 150 staffers and reported a hefty loss to the SEC.

Daseke pulled in its full-year 2023 outlook on Tuesday as the freight market has failed to yield normal springtime demand improvements.

The Logistics Managers’ Index hit a new low in April as transportation metrics weighed on the data set.

DAT’s breach-of-contract claim against Convoy will also proceed.

Truckload carrier Heartland Express missed first-quarter expectations.

Trimac Transportation said Thursday it has completed the acquisition of AIP Logistics.

Covenant’s biggest announcement in disclosing its first-quarter earnings is that it bought a large hauler of poultry-related freight.

Schneider National beat first-quarter expectations Thursday but lowered its full-year outlook as excess capacity lingers.

U.S. Xpress, about to be sold to Knight-Swift, has settled 4-year old litigation regarding its initial public offering.

Freight broker Landstar System sees a big earnings falloff from the all-time high established a year ago.

TFI International reported first-quarter revenue declines in all four main operating segments.

“Trucking as a business is not about what you make, it’s about what you don’t spend,” industry expert Adam Wingfield said at FreightWaves’ Small Fleet & Owner-Operator Summit.

Pam Transportation saw first-quarter earnings fall as the truckload market searches for a bottom.

Schneider said Friday it will be a strategic intermodal carrier for the Canadian Pacific Kansas City rail line from Mexico to Chicago.

Knight-Swift Transportation has recalibrated its 2023 outlook after posting an earnings miss to start the year.