Two of the largest for-hire carriers are making operational and financial preparations for an anticipated upturn in the freight market after months of weak demand, executives said.

The trucking industry saw very early indications that driver demand picked up during the third quarter, while remaining affected by market conditions.

The trucking industry continued to bounce along the bottom of the freight cycle with third-quarter earnings being generally weak, according to analysts.

U.S. Class 8 retail sales continued the pattern of trending below year-ago levels in October, according to data from Wards Intelligence.

RXO posted an increase in third-quarter revenue despite a persistently soft market environment by focusing on its customer relationships, the company reported Nov. 7.

Preliminary data showed orders declined 5.2% to 30,600 units, marking the fifth month in 2024 where orders fell on an annual basis.

The company's results missed expectations from investment analysts on Wall Street, who had been looking for earnings per share of 23 cents and quarterly revenue of $1.33 billion.

GXO Logistics experienced a 28% jump in revenue as its operations built momentum in the third quarter, the company reported Nov. 5.

The Tennessee-based ground transportation and logistics services provider posted a net loss of $34.2 million, or negative $2.62 a diluted share, for the three months ending Sept. 30.

C.H. Robinson Worldwide has developed artificial intelligence that automates every step along a freight shipment life cycle that uses email, the company announced Oct. 31.