Saia Opens Terminals in Pennsylvania and New Jersey
Saia Inc. opened four new terminals in Pennsylvania and New Jersey on May 1, entering the Northeast to battle regional and national less-than-truckload carriers for market share.
Roadrunner Receives $540 Million, Names New Leadership
Roadrunner Transportation Systems Inc. said it has received a $540 million cash infusion from a private equity group that owns 8.6% of the shares in an announcement that also included a change in the senior leadership of the recently troubled trucking company.
TL Profits Mostly Down
Truckload companies continue to struggle in the first quarter, with executives in the industry assigning blame to continued excess capacity, bad weather and a weak used-truck market.
Cargo Thefts Total $28.7 Million in First Quarter, CargoNet Says
Cargo thefts rose in the first quarter as criminals stole more than $28.7 million in freight in 192 incidents, up from the same period in 2016 in terms of volume and total loss, according to quarterly data from CargoNet.
Paper Checks Still Common in Trucking; Move Underway to Migrate to E-Payments
Many trucking and third-party logistics companies still write checks to pay their invoices, but efforts are underway to transition from pen and paper to point-and-click e-payments. If successful, it would shift decades-old business patterns ingrained in the industry.
Railroad 1Q Profits Increase on Rebound in Coal Shipping
All publicly traded freight railroads reported higher profits in the first quarter, led by a strong rebound in coal transportation from the doldrums of recent years and continued improvement in the intermodal sector.
Saia Profits Up 7.7% With Help From Lower Tax Rate
Less-than-truckload earnings season began on a positive note with growth in shipments and revenue growth compared with the lackluster year-over-year results in the truckload sector.
Universal Logistics Profits Fall in First Quarter Despite Higher Revenue
Profits at Universal Logistics Holdings Inc. fell 42% year-over-year despite 9.2% growth in revenue during the same period, which the company acknowledged was due to problems with a few of its large value-added programs.
Union Pacific Profits Up 9.5%, Easily Beat Forecasts
Union Pacific’s profits increased 9.5% to $1.07 billion dollars, or $1.32 per share, after strong results on a year-over-year basis in the coal, agricultural and intermodal transportation.
Truckload Profits Fall at TFI, Knight, Patriot Transportation; Rise at Forward Air
Truckload carriers continued to struggle as three out of four companies reported lower quarterly earnings versus 2016 levels as the industry struggles with excess capacity and lower prices.