Forward Air

Forward Air adds another LTL terminal outside of airport network

Forward expands traditional LTL service

Making good on a promise to add a “handful” of traditional less-than-truckload (LTL) terminals to the network this year, Forward Air (NASDAQ: FWRD) announced Monday that it has rolled out expedited service in Bethlehem, Pennsylvania.

The Greeneville, Tennessee-based company cited past success using a local partner in the area as a reason for selecting the site to expand its LTL footprint outside of its historical airport-to-airport network.

“As we continue to expand our service offering beyond...

https://www.freightwaves.com/news/forward-air-adds-another-ltl-terminal-outside-of-airport-network

The Daily Dash: Peak season volatility; grading Trump’s performance; and Amazon’s logistics network keeps growing

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, peak season could be among the most volatile in years if current data trends continue. Plus, grading the success of President Donald Trump’s promises as he asks voters to elect him for four more years, and Amazon’s logistics network just keeps growing.

A record-setting year?

Will peak season be smooth sailing for shippers and carriers? Data coming in this week may give an indication of how capacity...

https://s29755.pcdn.co/news/the-daily-dash-peak-season-volatility-grading-trumps-performance-and-amazons-logistics-network-keeps-growing

Forward Air beats estimates in quarter, raises dividend

Forward Air saw a downturn in several key metrics in the quarter but still beat Wall Street estimates of its earnings.

The company, which is a less-than-truckload (LTL) carrier as well as providing other “asset-light” services including last-mile delivery, posted non-generally accepted accounting principles (GAAP) earnings per share of 67 cents, which was well above the Wall Street consensus of 40 cents per share, that consensus number coming from SeekingAlpha. Its net income per diluted share...

https://s29755.pcdn.co/news/forward-air-beats-estimates-in-quarter-raises-dividend

XPO closes less-than-truckload demand gap, Deutsche Bank says

Trucks tracked at a terminal

Less-than-truckload (LTL) activity at XPO Logistics (NYSE: XPO) experienced a “notable inflection” during the third quarter, according to geofencing data provided by Deutsche Bank (NYSE: DB).

In a Monday note to clients, the firm’s transportation equity research analyst, Amit Mehrotra, said “based on our geofencing data we believe XPO should be able to show a noticeable snap back in relative volume performance, which should allow shares to move higher.”

The firm’s data shows that activity levels...

https://s29755.pcdn.co/news/xpo-closes-less-than-truckload-demand-gap-deutsche-bank-says

The Daily Dash: Q3 earnings continue to shine; M&A hits the skids

Landstar truck on highway

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Landstar is the latest carrier to predict a strong fourth quarter following its third-quarter earnings results. Plus, M&A activity could be hitting the brakes and a truck driver is charged for driving into a crowd of protesters on I-35.

No slowing this carrier

Landstar System Inc. (NASDAQ: LSTR) executives see no slowing of the current market and are predicting a near-record fourth quarter as peak...

https://www.freightwaves.com/news/the-daily-dash-q3-earnings-continue-to-shine-ma-hits-the-skids

Forward Air pre-announces Q3 expectations well ahead of consensus

Forward Air truck at a terminal

Forward Air (NASDAQ: FWRD) provided preliminary results for the third quarter of 2020 in a Wednesday evening 8-k filed with the U.S. Securities and Exchange Commission. The Greeneville, Tennessee-based trucking company expects earnings per share of approximately 60 cents, well above the current consensus estimates ranging from 40 to 43 cents per share but lagging the 2019 third quarter’s 78 cents.

The result includes a one-time charge of 6 cents related to “a litigated contract dispute.”

The...

https://s29755.pcdn.co/news/forward-air-pre-announces-q3-expectations-well-ahead-of-consensus

Saia adds terminal capacity again; Memphis expansion complete

Saia double on highway

Less-than-truckload (LTL) carrier Saia Inc. (NASDAQ: SAIA) announced after the close of trading on Monday that it has opened an expanded cross-dock terminal in Memphis, Tennessee.

The Johns Creek, Georgia-based carrier noted the new 200-door energy-efficient facility will employ almost 300 workers, a level similar to the terminal that it is replacing. The new location has a maintenance shop with eight bays, high-speed fueling capabilities and can “accommodate a significant expansion over time,”...

https://s29755.pcdn.co/news/saia-adds-terminal-capacity-again-memphis-expansion-complete

Forward Air acquires intermodal drayage provider Value Logistics

Containers on trucks

Toggling between organic and inorganic initiatives, Forward Air (NASDAQ: FWRD) continues to make acquisitions and announce service offering expansions. On Monday, the Greeneville, Tennessee-based trucking company added another tally mark to the inorganic column, acquiring intermodal drayage outfit Value Logistics.

Founded in 1996 and based in Memphis, Tennessee, Value Logistics is a privately held drayage provider with 20 employees and 30 independent contractors, generating approximately $6...

https://s29755.pcdn.co/news/forward-air-acquires-intermodal-drayage-provider-value-logistics

Forward’s less-than-truckload service added to more terminals

Forward Air truck on highway

Forward Air (NASDAQ: FWRD) continues to make good on its pledge to “not wait” and “remove ceilings” on the advancement of its growth initiatives.

In a Monday press release, the Greeneville, Tennessee-based trucking company said it was expanding its traditional less-than-truckload (LTL) offering to include Columbia, Missouri, and Roanoke, Virginia. The company plans to offer the service out of its existing final-mile terminals in those two markets.

The carrier first laid out plans to offer LTL...

https://s29755.pcdn.co/news/forwards-less-than-truckload-service-added-to-more-terminals

The Daily Dash: Wildfires impacting freight movement

Oregon wildfire

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, the West Coast wildfires are creating hazardous conditions for truck drivers and affecting freight movement. Plus, trailer orders are rising once again and volatile supply chains may become the new normal.

Wildfires putting drivers at risk

The wildfires on the West Coast are creating dangerous conditions for people living in the area, but they are also impacting freight movement. Shippers are...

https://s29755.pcdn.co/news/the-daily-dash-wildfires-impacting-freight-movement

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