Landstar

ATBS says independent drivers earned a little more in ’24 but drove more as well

Independent truck drivers on average made a bit more money in 2024 than they did in 2023, but they worked harder for those extra dollars.

That’s the conclusion of Todd Amen, the president of ATBS, long one of the leading accounting and financial advisers serving independent owner-operators. With income tax day looming in less than two weeks, Amen by now has processed enough tax returns to have a critical mass of data on how truck drivers did in a market last year that most people were happy to...

https://www.freightwaves.com/news/atbs-says-independent-drivers-earned-a-little-more-in-24-but-drove-more-as-well

Carriers big and small at TCA wait for signs of freight market turnaround

PHOENIX – If there was a freight market bull at the annual meeting of the Truckload Carriers Association, that person was keeping pretty quiet. 

Conversations from the stage, at receptions and at meals had a consistent theme: Can you believe we’re still talking about this freight recession? In 2025? Didn’t we say at this meeting last year that things would be better by the end of 2024? 

At the Large Carrier panel, Dave Williams, senior vice president of equipment and government relations at...

https://www.freightwaves.com/news/carriers-big-and-small-at-tca-wait-for-signs-of-freight-market-turnaround

Stolen load of cellphones involving RXO may be another key broker liability case

A case involving giant 3PL RXO has the potential to add another decision to the body of law regarding broker liability.

RXO (NYSE: RXO) brokered a shipment of cellphones for phone reseller PCS Wireless. The shipment was booked a few months before RXO was spun off as a standalone 3PL by XPO, and RXO is identified in the initial lawsuit as “f/k/a” – formerly known as – XPO (NYSE: XPO).

The shipment totaled about 54,000 phones with a value of approximately $11.5 million. They were to move from Texas...

https://www.freightwaves.com/news/stolen-load-of-cellphones-involving-rxo-may-be-another-key-broker-liability-case

In a weak quarter for brokerages, RXO’s stock price takes a pounding after earnings

(A quick summary of some key points of RXO’s earnings can be found here.)

With four publicly-traded freight brokerages now having reported earnings for the fourth quarter, the overall picture was not pretty.

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https://www.freightwaves.com/news/in-a-weak-quarter-for-brokerages-rxos-stock-price-takes-a-pounding-after-earnings

C.H. Robinson’s Q4 performance soars year on year but slows sequentially

For the first look at the C.H. Robinson earnings, please go to this article.

The focus on C.H. Robinson’s financial performance over much of 2024 was not so much the usual comparison of year-on-year results, but how the giant brokerage was doing sequentially as it implemented sweeping change under CEO Dave Bozeman, on the job since mid-2023.

The fourth-quarter earnings report for C.H. Robinson (NASDAQ: CHRW) released late Wednesday showed what was expected: vast improvement year on year by...

https://www.freightwaves.com/news/c-h-robinsons-q4-performance-soars-year-on-year-but-slows-sequentially

Landstar Q4 earnings: First Look

Freight broker Landstar System missed fourth-quarter expectations Wednesday after the market closed.

The Jacksonville, Florida-based company reported earnings per share of $1.31, which fell short of the $1.34 consensus estimate. Management’s guidance range was $1.25 to $1.45.

Revenue of $1.21 billion was up 0.4% year over year and slightly ahead of the $1.2 billion consensus estimate (in line with management’s forecast of $1.15 billion to $1.25 billion).

Total loads hauled by truck fell 3.4% y/y...

https://www.freightwaves.com/news/landstar-q4-earnings-first-look

C.H. Robinson – and 3PL industry – win another broker liability case in 7th Circuit

The 3PL industry’s latest win in the legal battle over broker liability comes in a federal appellate court where a pro-broker precedent already exists.

Meanwhile, the latest attempt to have the U.S. Supreme Court rule on the issue may have been taken up by the court in a conference held Friday.

In the most recent case, the U.S. Court of Appeals for the 7th Circuit, in a decision handed down Jan. 3, held that C.H. Robinson (NASDAQ: CHRW) did not have an “agency” relationship with carrier Caribe...

https://www.freightwaves.com/news/c-h-robinson-and-3pl-industry-win-another-broker-liability-case-in-7th-circuit

Despite win on appeal, TQL wants Supreme Court to review broker liability issue

In an unusual twist, giant brokerage TQL is asking the U.S. Supreme Court to review its lower court victories on the question of broker liability.

In a brief filed with the Supreme Court last week, TQL sided with its adversary Katia Gauthier in seeking review of the lower court cases. Her husband, Peter, was killed in May 2020 in a collision with a truck hired by TQL.

Gauthier’s subsequent lawsuit against the carrier and TQL resulted in a pair of decisions – in the U.S. District Court for the...

https://www.freightwaves.com/news/despite-win-on-appeal-tql-wants-supreme-court-to-review-broker-liability-issue

Another win for brokers: no liability for Echo Global in SC fatal crash

Another recent court case is adding to the growing pile of legal precedents protecting brokers from any liability created from a crash involving a carrier hired by a 3PL.

In the most recent case, Echo Global Logistics was granted its request for summary judgement to be removed as a defendant from a case in the U.S. District Court for South Carolina. In the Nov. 15 ruling, Judge Jacquelyn Austin granted that motion, citing the Federal Aviation Administration Authorization Act (F4A) as the basis...

https://www.freightwaves.com/news/another-win-for-brokers-no-liability-for-echo-global-in-sc-fatal-crash

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