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2024 Essential Financial and Operating Information for the 100 Largest For-Hire Carriers in North America
Up Front

Soft market conditions in 2023 placed financial strain on many of the largest trucking companies in North America.

Trucking companies have been surviving on lower rates while awaiting a freight market recovery.

Find out where the Top 100 For-Hire carriers are located by region; click links to view details about the company.

Rankings
Rank Company Revenue (000)
1 Forward Air 1,096,958
2 Covenant Logistics Group 423,820
3 ArcBest 280,239
Extras

The regional LTL carrier has adapted and expanded through a full century of economic cycles and industry changes.

The trucking industry remains mired in sustained overcapacity relative to freight demand even as it has slowly shed workers.

After being displaced by war in his native Sudan, Lual Akoon’s path took him to Middle America – and trucking.

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For-hire carriers across segments saw revenues slide and margins tighten, but some fared better than others.

Learn more about how companies are selected for Transport Topics' Top 100 largest for-hire carriers list.

For-Hire News
Business, Logistics, For-Hire, Private

Efficient Use of Space Is Key in Weak Freight Market: Study

Over-the-road carriers waiting for an upturn in the freight cycle must make the most efficient use of their trucks’ space to best ride out ongoing market weakness, according to CSCMP.

Keiron Greenhalgh | Staff Reporter
June 18, 2024
Business, Logistics, For-Hire

Werner CEO Says Freight Market Is Returning to Normal

Werner Enterprises CEO Derek Leathers said patterns emerging in the cargo marketplace point to a long-awaited adjustment that could help lift trucking out of its persistent freight recession.

Connor D. Wolf | Staff Reporter
June 17, 2024
Business, Logistics, For-Hire

FedEx to Cut Up to 2,000 Europe Jobs

FedEx Corp. plans to cut as many as 2,000 jobs in Europe, the latest move by the package delivery giant to streamline its global workforce and rein in costs.

Cailley LaPara | Bloomberg News
June 12, 2024
Government, Business, Technology, Equipment, Fuel, Logistics, For-Hire, Private

Private Fleets Pursuing Emissions Goals More Aggressively

Across all areas of the economy, shippers are facing increasing pressure to make their operations more sustainable and to meet environmental, sustainability and governance targets.

Amanda Smith-Teutsch | Special to Transport Topics
June 11, 2024
Government, Business, For-Hire

Canadian Border Agency, Staff Agree on Tentative Labor Deal

 Unionized Canadian border agency staff and the federal government reached a tentative deal on a collective bargaining agreement for more than 9,500 staff, the two sides said June 11.

Keiron Greenhalgh | Staff Reporter
June 11, 2024
Business, Technology, For-Hire

NFI Buys Transfix’s Freight Brokerage Operation

NFI acquired Transfix’s digital freight brokerage operation for an undisclosed sum, the carrier said June 5.

Keiron Greenhalgh | Staff Reporter
June 6, 2024
Business, Technology, Equipment, Safety, For-Hire

ABF Freight Seeks to Boost Safety With Trailer Sensors

ABF Freight is ramping up its use of Drov Technologies’ AirBoxOne platform, which integrates truck and trailer sensors, Oklahoma City-based Drov said.

Keiron Greenhalgh | Staff Reporter
June 6, 2024
Business, Fuel, Logistics, For-Hire

Penske Forms EV Infrastructure Advisory JV With Mitsui Unit

LAS VEGAS — Penske Transportation Solutions and ForeFront Power are teaming up for an electric vehicle infrastructure advisory joint venture to be known as Penske Energy, the partners said May 21.

Keiron Greenhalgh | Staff Reporter
May 28, 2024
Business, Technology, Equipment, Fuel, For-Hire

Kenworth to Start Production of T680s, T880s With X15N in Q3

Kenworth plans to begin production of its Class 8 T680 tractor and T880 vocational truck with Cummins’ X15N natural gas engine in the third quarter of 2024, it said May 15.

Keiron Greenhalgh | Staff Reporter
May 17, 2024
Government, Business, For-Hire

Infrastructure Stakeholders Renew Calls for Funding

WASHINGTON — Approving legislation that promotes funding for safety programs and supply chain connectivity is atop the priority list for infrastructure stakeholders.

Eugene Mulero | Senior Reporter
May 15, 2024
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