UPS Inc. is reducing its overall employee head count by 12,000 workers, which the company says will save more than $1 billion, citing higher labor costs and softening demand.

Norfolk Southern’s Q4 profit fell 33% due to the ever-growing costs of the cleanup of last year’s derailment in eastern Ohio, but the railroad did deliver 3% more shipments in the quarter.

A jump in truck sales and margins in the fourth quarter of 2023 at Volvo Group saw the Swedish original equipment manufacturer’s profits almost double year-over-year, it said Jan. 26.

United Rentals reported net profit of $679 million in the fourth quarter of 2023, a 6.3% year-over-year increase compared with $639 million in the year-ago period.

Volvo AB declined after saying it will gradually reduce production in line with normalizing demand after years of supply chain disruptions that left manufacturers with record order banks.

CSX Corp. experienced a slight decrease in year-over-year revenue during the fourth quarter of 2023, the company reported Jan. 24.

Knight-Swift Transportation Holdings profits dropped during the fourth quarter but the carrier experienced an increase in revenue, the company reported Jan. 24.

OMAHA, Neb. — Union Pacific’s fourth-quarter profit crept up 1% as the railroad delivered more fertilizer, imported goods and vehicles.

DETROIT — Tesla’s net income more than doubled last quarter thanks to a one-time tax benefit, but it warned of “notably lower” sales growth this year.

Truck maker Paccar saw profits jump 54% year-over-year in the fourth quarter of 2023 on the back of record revenues and a double-digit jump in U.S. and Canadian truck deliveries.