freight brokers

Digital freight broker Fura acquires Pinwheel Logistics

Digital freight broker Fura announced Friday it has acquired Pinwheel Logistics. The deal marks Fura’s third brokerage acquisition.

Pinwheel is a freight broker located in the Chicago area, serving the food and beverage industry.

Financial terms of the transaction were not provided.

“With this acquisition, we demonstrate Fura’s commitment to growth and innovation, even in a down market,” stated Jeff Dangelo, co-founder and CEO at Fura, in a news release. “Our model enables us to acquire freight...

https://www.freightwaves.com/news/digital-freight-broker-fura-acquires-pinwheel-logistics

SONAR inks data partnership with Transfix

Chattanooga, Tennessee-based supply chain intelligence platform SONAR announced a data partnership with Transfix, a New York City-based technology and data solutions provider for the logistics industry.

SONAR’s extensive datasets on the truckload market, including rates, volumes and capacity information, will be used as inputs for Transfix’s Data Solutions suite, a machine learning and AI-enabled platform for brokers that allows them to quickly respond to RFPs with confidence, and win freight at...

https://www.freightwaves.com/news/sonar-inks-data-partnership-with-transfix

Landstar Q3 earnings: First look

Freight broker Landstar System missed third-quarter expectations Tuesday after the market closed. Earnings per share of $1.41 were 4 cents below the consensus estimate and at the low end of management’s guidance range of $1.35 to $1.55.

Revenue of $1.21 billion was slightly below consensus but within the company’s forecast range of $1.175 billion to $1.275 billion.

Total loads hauled by truck were 7.7% lower year over year, in line with guidance for a 10% to 6% decline. Revenue per load was up...

https://www.freightwaves.com/news/landstar-q3-earnings-first-look

Check Call: Oh we got trouble, right here in River City

The Future of Freight Festival in Chattanooga, Tennessee, is the event of the fall. Subscribers to Check Call have a special discount code for F3 registration. This is going to be one of the best deals on F3 tickets. Use the code CheckCallF324 or go to this link, and the discount will be applied. There is no better party than a Chattanooga party. This is not one to miss.

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Oh we got trouble, right here in River City, if River City is the fourth quarter of the year. The trouble in...

https://www.freightwaves.com/news/check-call-oh-we-got-trouble-right-here-in-river-city

Check Call: Gains find their way into the 3PL space

The Future of Freight Festival in Chattanooga, Tennessee, is the event of the fall. Subscribers to Check Call have a special discount code for F3 registration. This is going to be one of the best deals on F3 tickets. Use the code CheckCallF324 or go to this link, and the discount will be applied. There is no better party than a Chattanooga party. This is not one to miss.

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Everyone’s favorite group, the Transportation Intermediaries Association (TIA), has put out the “3PL Market...

https://www.freightwaves.com/news/check-call-gains-find-their-way-into-the-3pl-space

Landstar Q2 first look: Truck broker breaks 2-year string of revenue declines

Broker Landstar System reported second-quarter earnings per share of $1.48 Tuesday after the market closed. The result was 3 cents ahead of the consensus estimate but 37 cents lower year over year. The company previously guided to an EPS range of $1.35 to $1.55 for the quarter.

Revenue of $1.23 billion was 11% lower y/y and within management’s prior range ($1.2 billion to $1.3 billion). Total loads hauled by truck fell 9% y/y (guidance called for a 5% to 9% decline) with revenue per load down 3%...

https://www.freightwaves.com/news/landstar-q2-first-look-truck-broker-breaks-2-year-string-of-revenue-declines

Bosch’s RevX rolls up available spot loads 

If freight brokers weren’t so preoccupied with celebrating competitor missteps, one of them might have beaten Robert Bosch to RevX — a spot load aggregation tool that also flags double brokering.

The cloud-based RevX is the second product from the German auto supplier’s global Logistics Operating System (L.OS), aimed at simplifying technology and operational processes in transportation and logistics. L.OS launched in December with a goal of generating more than $540 million in freight-related...

https://www.freightwaves.com/news/boschs-revx-rolls-up-available-spot-loads

Landstar sees continuation of soft freight market in Q4

Broker Landstar System reported an in-line third-quarter result Wednesday after the market closed. However, its fourth-quarter outlook was light of expectations.

Landstar (NASDAQ: LSTR) reported third-quarter earnings per share of $1.71, in line with the consensus estimate but $1.05 lower year over year (y/y). The company reported a 29% y/y decline in total revenue to $1.289 billion. Both results were near the middle of management’s guidance ranges.

Total truck transportation revenue was off 27%...

https://www.freightwaves.com/news/landstar-sees-continuation-of-soft-freight-market-in-q4

Edge Logistics fighting through the freight brokerage winter

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Surge Transportation declared bankruptcy in July. Convoy shut down its freight operations in...

https://www.freightwaves.com/news/edge-logistics-fighting-through-the-freight-brokerage-winter

Widespread double brokering wreaks havoc on brokers and carriers in Q2

In Q2 2023, 85% of respondents to a survey — consisting notably of freight brokers and carriers — were impacted by double brokering.

That financial impact to their spend was steep, with nearly 56% of businesses experiencing a loss up to $50,000 and 18% seeing a drain of $50,000 to $150,000. An additional unlucky 10% experienced costs that ranged from $150,000 to $500,000, and 1% saw a loss greater than $500,000.

These results were among the most telling findings in FreightWaves and TriumphPay’s...

https://www.freightwaves.com/news/widespread-double-brokering-wreaks-havoc-on-brokers-and-carriers-in-q2

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