less-than-truckload carriers

project44 introduces global preferred carriers program

project44 introduces global preferred carriers program (Photo: Jim Allen/FreightWaves)

Logistics visibility company project44 has announced a Global Preferred Carriers Program that seeks to recognize less-than-truckload (LTL) and truckload carriers in the project44 network that have maintained a distinguished record across multiple loads. Shippers can now benefit from this program by approaching carriers with a stellar record, ensuring higher service levels and increased network stability. 

Every month, the program will publish a list of carriers that have demonstrated excellence...

https://s29755.pcdn.co/news/project44-introduces-global-preferred-carriers-program

ArcBest sees trends rebound during May

ArcBest double on highway

In a filing with the U.S. Securities and Exchange Commission, ArcBest Corp. (NASDAQ: ARCB) reported sequential improvement during the month of May, supportive of recent industry commentary suggesting that the less-than-truckload (LTL) market may have bottomed in April.

The Fort Smith, Arkansas-based logistics provider reported a 22% year-over-year consolidated revenue decline through the first two months of the 2020 second quarter. The April-May period of 2020 has two less working days compared...

https://s29755.pcdn.co/news/arcbest-sees-trends-rebound-during-may

April the bottom for less-than-truckload?

Old Dominion triple on highway

Old Dominion Freight Line (NASDAQ: ODFL) reported a 16.2% year-over-year decline in revenue per day during May as tonnage declined 12.1% and revenue per hundredweight, or yield, moved lower.

The less-than-truckload (LTL) carrier reported the May tonnage decline was the combination of a 16.7% decline in shipments, partially offset by a 5.4% increase in weight per shipment.

So far through the second quarter of 2020, revenue per hundredweight is down 4.7% year-over-year, 1.4% lower excluding fuel...

https://s29755.pcdn.co/news/april-the-bottom-for-less-than-truckload

Today’s Pickup: Purolator is doing much better than Canada Post

A Purloator driver making a less-than-truckload delivery

Good day,

Purolator, the courier and less-than-truckload subsidiary of Canada Post, had a decent first quarter – all things considered.

Revenue grew by 5.1% to C$457 million (about $331 million) year-over-year, while net profit dropped by 5.9% to C$8 million. Canada Post reported those numbers as part of its first-quarter financial report, which was released on March 25.

Purolator also performed much better than Canada Post as a whole. The government-owned postal carrier, which owns more than 90%...

https://s29755.pcdn.co/news/todays-pickup-purolator-is-doing-much-better-than-canada-post

Speculation on YRC’s survival ramps up

YRC double on road

One sell-side analyst has thrown in the towel on YRC Worldwide (NASDAQ: YRCW).

Following a mixed bag first quarter 2020, in which the carrier reported better-than-expected results, announced it was unlikely to meet future financial covenants and opted out of taking questions from analysts on its earnings call, Stifel Financial (NYSE: SF) equity research analyst David Ross has tapped out.

In a Tuesday report to clients, Ross announced that he has suspended his rating and estimates for the...

https://s29755.pcdn.co/news/speculation-on-yrcs-survival-ramps-up

ArcBest tops Q1 forecasts, April revenue down 20% on pandemic headwinds

ArcBest truck on highway

Shares of logistics provider ArcBest Corp (NASDAQ: ARCB) are surging on a much better than expected first quarter 2020 earnings report.

In the period, the company reported adjusted earnings per share of $0.36, well ahead of the consensus estimate of an $0.11 per share loss. The result excluded $0.14 per share in costs associated with its freight handling pilot test program and included a similar amount from adjustments in its life insurance program.

The company mostly escaped the freight falloff...

https://www.freightwaves.com/news/arcbest-tops-q1-forecasts,-april-revenue-down-20%-on-pandemic-headwinds

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