Covenant Logistics Group profits tumbled in the first quarter of 2024, with freight rates and volumes taking a toll on earnings as expected.
April 25, 2024Logistics 50 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
Top Logistics Freight Brokerage
Rank | Company | Net Revenue (Millions) | Gross Revenue (Millions) | Types of Freight |
---|---|---|---|---|
1 | J.H. Rose Logistics | $10.5 | $70.0 est |
rail intermodal, LTL, dry van TL, refrigerated |
2 | Leonard's Express | $10.7 | $97.4 est |
rail intermodal (920), LTL (15,102), dry van TL (23,047), refrigerated (34,572) |
3 | Ruan | $11.0 | $75.0 est |
rail intermodal (40,782), LTL (45,477), dry van TL (295,803), refrigerated (258,638), flatbed/heavy haul (183,191), bulk/tank (561,792) |
4 | TransCorr National Logistics | $11.7 | $73.9 est |
rail intermodal (250), LTL (7,350), dry van TL (74,900), refrigerated (125), flatbed/heavy haul (3,300) |
5 | Bay and Bay Transportation | $12.0 | $71.0 est |
rail intermodal (4,600), LTL (4,800), dry van TL (26,000), refrigerated (4,100), flatbed/heavy haul (3,500) |
6 | Koch Logistics | $12.5 | $85.0 est |
NA |
7 | R2 Logistics | $13.0 | $90.5 est |
NA |
8 | Syfan Logistics | $13.4 | $78.7 est |
air/expedited, rail intermodal, dry van TL, refrigerated, flatbed/heavy haul, parcel |
9 | MIQ Logistics | $14.0 | $214.0 est |
air/expedited (2,560), rail intermodal (2,895), LTL (381,041), dry van TL (209,395), parcel (13,397) |
10 | Genpro Inc. | $14.0 | $130.0 est |
dry van TL, flatbed/heavy haul, LTL, rail intermodal, refrigerated |
11 | Global Transport Logistics | $15.0 | $30.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated |
12 | Triple T Transport | $15.0 | $100.0 est |
dry van TL, refrigerated, LTL |
13 | Swift Transportation | $15.0 | $100.0 est |
dry van TL (40,000), refrigerated (10,000), flatbed/heavy haul (10,000) |
14 | Scott Logistics Corp. | $18.0 | $113.0 est |
rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
15 | Celadon Group | $18.0 | $123.0 est |
rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
16 | MegaCorp Logistics | $18.7 | $112.6 est |
air/expedited (2,489), rail intermodal (1,493), LTL (2,987), dry van TL (17,924), refrigerated (20,912), flatbed/heavy haul (4,481) |
17 | Network FOB | $18.8 | $101.1 est |
dry van TL (20,000), refrigerated (4,100), LTL (6,000), flatbed/heavy haul (25,000) |
18 | NFI | $20.0 | $219.0 est |
rail intermodal, LTL, dry van TL, refrigerated |
19 | Diversified Transportation Services | $20.0 | $130.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
20 | Integrity Express Logistics | $25.0 | $125.0 est |
dry van TL, refrigerated, LTL, flatbed/heavy haul |
21 | Strive Logistics | $26.0 | $176.2 est |
LTL, dry van TL, refrigerated, flatbed/heavy haul |
22 | Champion Logistics Group | $27.0 | $71.0 est |
air/expedited, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank(900), parcel |
23 | Cornerstone Systems | $29.0 | $254.0 est |
rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
24 | Nolan Transportation Group | $30.7 | $196.5 est |
air/expedited (5,136), rail intermodal (12,720), LTL (13,496), dry van TL (77,180), refrigerated (7,166), flatbed/heavy haul (21,404) |
25 | AFN | $31.0 | $196.0 est |
NA |
26 | Patterson Cos. | $33.0 | $195.0 est |
air/expedited, LTL, dry van TL, refrigerated, flatbed/heavy haul |
27 | Choptank Transport | $34.0 | $225.0 est |
rail intermodal, LTL, dry van TL, refrigerated |
28 | John J. Jerue Truck Broker | $35.0 | $250.0 est |
NA |
29 | ATS Logistics Services | $37.1 | $244.0 est |
air/expedited, LTL, dry van TL, refrigerated, flatbed/heavy haul |
30 | Redwood Logistics | $37.5 | $250.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
31 | Knight Transportation | $37.9 | $231.0 est |
rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
32 | Matson Logistics | $38.0 | $387.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
33 | Market Transport Services | $42.0 | $310.0 est |
rail intermodal, LTL, dry van TL, refrigerated |
34 | FLS Transportation Services | $50.0 | $322.0 est |
dry van TL, flatbed/heavy haul, LTL, refrigerated |
35 | Sunteck Transport Group | $52.0 | $269.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
36 | PLS Logistics Services | $53.0 | $527.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
37 | TTS | $53.2 | $456.5 est |
air/expedited (5,453), rail intermodal (59,270), LTL (46,617), dry van TL (137,062), parcel (1,666) |
38 | ArcBest Corp. | $55.0 | $308.0 est |
rail intermodal, LTL, dry van TL, refrigerated |
39 | Trinity Logistics | $56.0 | $358.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
40 | Werner Enterprises | $61.0 | $393.2 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
41 | Kuehne + Nagel Americas | $68.0 | $454.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
42 | Allen Lund Co. | $69.9 | $451.2 est |
rail intermodal (419), LTL (73,512), bulk/tank (8) |
43 | England Logistics | $77.9 | $427.6 est |
rail intermodal (1,800), LTL (68,000), dry van TL (66,000), refrigerated (32,000), flatbed/heavy haul (7,300) |
44 | Uber Freight/Transplace Inc. | $81.0 | $670.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
45 | BNSF Logistics | $83.0 | $610.0 est |
air/expedited, rail intermodal (13,750), LTL (33,000), dry van TL (350,000), refrigerated (28,000), flatbed/heavy haul (77,000) |
46 | Roadrunner Transportation Systems | $84.7 | $330.3 est |
rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank, parcel |
47 | GlobalTranz Enterprises | $89.0 | $484.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
48 | Unishippers Global Logistics | $95.5 | $451.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
49 | Yusen Logistics | $99.0 | $767.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, parcel |
50 | J.B. Hunt Transport Services | $112.0 | $699.5 est |
air expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
51 | Hub Group | $118.6 | $928.7 est |
rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
52 | WWEX Group | $200.0 | $750.0 est |
air/expedited, rail intermodal, LTL, dry van TL, parcel, refrigerated, flatbed/heavy haul |
53 | Landstar System | $272.0 | $1,638.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
54 | UPS Supply Chain Solutions | $280.0 | $2,300.0 est |
rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
55 | Echo Global Logistics | $290.3 | $1,512.3 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
56 | XPO Logistics | $342.0 | $1,782.0 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
57 | Total Quality Logistics | $445.6 | $2,239.9 est |
rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul |
58 | C.H. Robinson Worldwide | $1,718.3 | $11,989.8 est |
air/expedited, rail intermodal, LTL, dry van TL, refrigerated, flatbed/heavy haul, bulk/tank |
Top 50 Logistics Companies provide logistics services, including freight brokerage, freight forwarding, warehousing and dedicated contract carriage in North America and are ranked on the basis of annual gross revenue. Some sector rankings may have been updated since their print publication. To be included in the Top 50 list, please send contact information to tteditor@ttnews.com. We will contact you via phone or e-mail to get information about your company prior to publication of the next Top 50 list.
Extras
On the Bubble
Covenant Q1 Profit Slumps 76% on Freight Rate Weakness
Amazon Web Services to Build Data Center in Northern Indiana
NEW CARLISLE, Ind. — Amazon Web Services plans to invest $11 billion to build a data center in northern Indiana that will create at least 1,000 new jobs, state and company officials announced.
April 25, 2024Union Pacific’s First-Quarter Profit Creeps Up 1%
OMAHA, Neb. — Union Pacific’s first-quarter profit crept 1% higher as the railroad tightened up on expenses — particularly its fuel bill — even though it delivered slightly less freight.
Tonnage Numbers Hit 13th Month of Declines
Truck tonnage reached 13 consecutive months of year-over-year declines after a slight decrease in March, American Trucking Associations reported April 23.
DOT Grant Program Focuses on Commercial Ports
The U.S. Department of Transportation announced grants for ports and supply chain corridors as part of the White House’s strategy for advancing a zero-emission freight landscape.
Forward Air Hires Ex-Ceva Logistics Executive Stewart as CEO
Shawn Stewart is set to join Forward Air as CEO, effective April 28, the carrier said April 23. He also will join the asset-light transportation services group’s board of directors.
Norfolk Southern Reports Lower Earnings After Settlement
Norfolk Southern’s first-quarter earnings report gave the railroad the opportunity to publicly defend CEO Alan Shaw’s strategy again before investors decide on May 9 whether to back him.
Truck Body Repair Collaborations Help Streamline Planning
Repairing the body on a Class 8 truck is a process of handling moving parts while performing a proper assessment and eventually restoring the unit to a safe, roadworthy state as quickly as possible.
Baltimore Port to Open Deeper Channel
Officials plan to open a deeper channel for commercial ships to access the Port of Baltimore starting April 25, marking a significant step toward reopening the major maritime shipping hub.
UPS Reports 41% Earnings Drop During Q1
UPS Inc. experienced a 41.3% drop in earnings during the first quarter of 2024, the company reported April 23.