dedicated truckload

Convoy promises dedicated capacity with new shipper service

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Freight platform Convoy announced Tuesday it has added a new feature for its shipper clients, giving...

FreightWaves Classics: Crete Carrier Corporation keeps moving

A Crete Carrier tractor-trailer on the road. (Photo: Jim Allen/FreightWaves)

Crete Carrier Corporation was founded as a family-owned company in Crete, Nebraska in 1966. Today, it is one of the largest privately owned trucking companies in the country. The company has three divisions – Crete Carrier, Shaffer Trucking and Hunt Transportation.

Now headquartered in Nebraska’s capital city of Lincoln, Crete Carrier serves customers throughout the continental United States. The company operates 20 terminals around the country to serve its drivers.

Crete Carrier's earliest days. (Photo: Crete Carrier Corporation)Crete Carrier’s earliest...

https://www.freightwaves.com/news/freightwaves-classics-crete-carrier-corporation-keeps-moving

Schneider sees ‘healthy’ contract freight market

White Schneider tractor driving through heavy rain

Schneider beat first-quarter expectations Thursday and raised its full-year outlook citing favorable contractual rate negotiations, which account for the bulk of its revenue.

The company posted adjusted earnings per share of 57 cents, which was 3 cents ahead of the consensus estimate and 26 cents higher year-over-year. It also raised its full-year EPS outlook to a range of $2.55 to $2.70 (from $2.35 to $2.55), compared to the consensus estimate of $2.53 at the time of the print.

“When we look at...

https://www.freightwaves.com/news/schneider-earnings-q1-2022

All J.B. Hunt segments log growth for better-than-expected Q4

J.B. Hunt closes 2021 on a high

J.B. Hunt Transport Services provided little guidance around the outlook for 2022 on a Tuesday evening call with analysts. Limited visibility into when supply chain congestion will ease and rail service will improve has management holding the cards close to the vest. However, management is certain that J.B. Hunt will continue to invest in people and equipment to meet rising demand for all of its services.

The Lowell, Arkansas-based company posted fourth-quarter earnings per share of $2.28,...

https://www.freightwaves.com/news/all-jb-hunt-segments-log-growth-for-better-than-expected-q4

J.B. Hunt blows past Q4 expectations

Intermodal segment margins improve as pricing steps higher

J.B. Hunt Transport Services handily beat fourth-quarter estimates Tuesday after the market closed, posting earnings per share of $2.28, well ahead of the $2.02 consensus estimate.

The Lowell, Arkansas-based company reported year-over-year revenue growth across all of its segments, 28% higher on a consolidated basis at $3.5 billion, with increased freight rates outpacing incremental costs associated with operating in an overwhelmed supply chain. J.B. Hunt (NASDAQ: JBHT) posted a 90.8% operating...

https://www.freightwaves.com/news/jb-hunt-blows-past-q4-expectations

Canada Cartage acquires Quebec trucking company Laurentien Transportation

A white tractor-trailer of trucking company Laurentien Transportation, which was acquired by Canada Cartage, seen from the front on a road.

Canada Cartage has acquired dedicated contract carrier Laurentien Transportation in a deal that expands the trucking and logistics firm’s dedicated business in Quebec.

Bois-des-Filion-based Laurentien, with a fleet of about 110 power units, specializes in temperature-controlled transportation services for customers in the grocery, food and beverage, pharmaceutical and retail sectors. 

“Both companies focus on providing essential products to Canadians through our partnerships with some of the...

https://www.freightwaves.com/news/canada-cartage-acquires-quebec-trucking-company-laurentien-transportation

Schneider adds dedicated fleet in $263M deal

Another deal from a publicly traded carrier

Schneider (NYSE: SNDR) announced Tuesday it has acquired dedicated truckload carrier Midwest Logistics Systems (MLS) at an enterprise value of approximately $263 million.

Ohio-based MLS operates a fleet of 900 tractors throughout 30 central U.S. locations. The company generated $205 million in annual revenue ($170 million excluding fuel surcharges) for the 12-month period ended Sept. 30. It has approximately 1,000 drivers and support staff of 170. No margin information was provided but the deal...

https://www.freightwaves.com/news/schneider-adds-dedicated-fleet-in-263m-deal

J.B. Hunt rolls past Q3 expectations

Supply chain challenges continue to constrain freight volumes

J.B. Hunt Transport Services handily beat third-quarter estimates Friday, posting earnings per share of $1.88, 11 cents ahead of consensus expectations. Earnings per share were 27 cents higher than the second quarter and 70 cents better than the year-ago quarter.

Supply chains headwinds and network congestion on the railroads limited J.B. Hunt’s (NASDAQ: JBHT) intermodal volume growth. Loads were off 6% year-over-year but a 24% increase in revenue per load pushed the top line 17% higher in the...

https://www.freightwaves.com/news/jb-hunt-rolls-past-q3-expectations

Werner reports Q2 revenue of $650M, up 14% year-over-year

Werner Enterprises posted second-quarter adjusted earnings of 86 cents per share after the close, in line with consensus estimates and 20 cents better than the year-ago quarter.

Total revenue increased 14% year-over-year to $649.8 million for the quarter, boosted by Werner’s logistics unit, which increased 29% to $141.6 million.

Derek J. Leathers, Werner’s chairman, president and CEO, credited the strong quarter to a strong freight market and economy buoyed by consumer retail spending.

“We...

https://www.freightwaves.com/news/werner-reports-q2-revenue-of-650m-up-14-year-over-year

Bid season to determine J.B. Hunt’s intermodal margin target

J.B. Hunt's intermodal expectations dominate conference appearance

Expectations around long-term intermodal margins were the main topic at J.B. Hunt Transport Services’ (NASDAQ: JBHT) appearance at the Citi 2021 Global Industrials Virtual Conference on Tuesday.

The company’s president and CEO, John Roberts, said management plans to evaluate this season’s bid cycle before making a final determination. On the company’s fourth-quarter call in January, management acknowledged the intermodal segment had been lagging the long-term goal of 11% to 13% in recent years...

https://s29755.pcdn.co/news/bid-season-to-determine-jb-hunts-intermodal-margin-target

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