Schneider National profit in the second quarter of 2024 slumped 54% as price increases failed to arrive as early as the carrier expected and ongoing freight market weakness saw intermodal and logistics revenue decline.
August 2, 2024Extras
Schneider Q2 Profit Slumps as Intermodal, Logistics Revenue Falls
Amazon Reports Boost in Quarterly Profit to $13.5 Billion
Amazon reported a boost in its quarterly profits Aug. 1, but the company missed revenue estimates, sending stocks lower in after-hours trading.
Port Houston Gets USDA OK to Directly Handle Cold Treatment Cargo
The U.S. Department of Agriculture has granted authority to Port Houston to handle cold treatment cargo, creating an opportunity for drayage companies in the region.
C.H. Robinson Profit Jumps on Higher Seaborne Prices
C.H. Robinson Worldwide profit in Q2 jumped 29.7% year over year as a result of higher seaborne services pricing, a bigger margin on truckload and LTL shipments and a decrease in head count.
Liebherr to Build $176M Distribution Center in Mississippi
A top Swiss manufacturer of construction equipment has inked a $176 million deal with Mississippi state officials to build a massive distribution and logistics center to provide spare parts in North and South America.
Sluggish Global Economy Weighs on Germany’s DHL in Q2
FRANKFURT — German logistics and delivery giant DHL reported second-quarter net profit of $802 million, a decline of 23.9% from a year ago, as a sluggish global economy dampened demand.
Maersk Boosts Full-Year Guidance
A.P. Moller-Maersk, a bellwether for global trade, increased its full-year guidance due to higher freight rates caused by supply chain disruptions following attacks in the Red Sea.
Senate Panel Approves TSA Clearance Bill for Truckers
A committee in the U.S. Senate recently approved a bill that would facilitate commercial drivers’ applications for security credentials.
Werner Spots Signs of Hope Despite Disappointing Q2
Profit dropped at Werner Enterprises Inc. in the second quarter of 2024 as revenue slid more than analysts expected on the back of continued freight weakness, although executives are seeing more room for optimism from the last few weeks.
Transportation Jobs Up in July ADP Data; Overall Hiring Slows
US companies added the fewest number of workers since the start of the year and wage growth slowed, consistent with signs of a softer labor demand. But the transportation sector showed resilience.