Transportation and logistics provider ArcBest is “firing on all cylinders” as CEO Judy McReynolds put it on a call with analysts discussing first-quarter results Friday.
Before the market opened, ArcBest (NASDAQ: ARCB) reported adjusted earnings per share of $3.08, significantly higher than the $2.13 consensus estimate reported by Seeking Alpha. The result did exclude several items, including costs incurred from a technology pilot program as well as acquisition-related expenses from the MoLo...
Background
Charles Hammel, Sr. founded Hammel’s Express in 1919 with a horse, a buggy and one customer. His son, Charles Hammel, Jr., continued in the family business beginning in the 1940s. The company founded by his grandfather and continued by his father was where Charles (Chuck) Hammel, III began to learn about and began to love the transportation industry.
Chuck, Bob and Ken, the three sons of Charles Hammel, Jr., purchased three trucks and leased a small, one-door warehouse in East...
Management from less-than-truckload carrier Old Dominion Freight Line told analysts on a Wednesday call that demand has remained “consistently strong” and that it continues to receive inquiries from customers “regarding the general lack of capacity within the LTL industry.” The favorable setup could allow the carrier to hang a sub-70% operating ratio on the scoreboard during the second quarter.
First-quarter revenue of $1.5 billion was 33% higher year-over-year (+25% excluding fuel surcharges)...
https://www.freightwaves.com/news/old-dominion-earnings-q1-2022
Estes Express Lines is the largest privately owned freight shipping company in North America.
Estes has provided shipping solutions to its customers since its founding in 1931. Over the decades its leaders and employees have built a “robust transportation network, a reputation for dependability, and an award-winning safety record.”
Estes is an asset-based freight transportation and custom logistics solutions provider. Its fleet contains more than 7,000 tractors and 30,000 trailers; it also has...
The only thing surprising about the freight market slowdown is the speed at which it’s unfolding. The supply chain “bullwhip effect” is both predictable and expected. The surge of inventories and declining freight costs/capacity imbalances will be deflationary.
The bullwhip effect is something every supply chain 101 student learns about – the idea that upstream providers overproduce in reaction to a one-time demand shock.
What is the bullwhip effect?
According to the Chartered Institute of...
https://www.freightwaves.com/news/the-supply-chain-bullwhip-is-doing-the-feds-job-on-inflation
The only thing surprising about the freight market slowdown is the speed at which it’s unfolding. The supply chain “bullwhip effect” is both predictable and expected. The surge of inventories and declining freight costs/capacity imbalances will be deflationary.
The trucking market has slowed. Demand for trucks usually surges during the Spring, but this year, demand for truckload freight has broken out of this typical seasonal pattern.
https://www.freightwaves.com/news/is-supply-chain-deflation-next
XPO Logistics announced Friday the divestiture of its intermodal unit to STG Logistics for $710 million in cash. The sale is part of the company’s plan to break up the assets remaining after the spinoff of its European contract logistics segment last year.
STG is an asset-light containerized logistics provider based in Chicago. The company has been rolling up assets with the backing of middle-market private equity firm Wind Point Partners. The two had acquired 10 logistics outfits over the last...
https://www.freightwaves.com/news/xpo-breakup-advances-intermodal-unit-sold-to-stg-logistics
Dependable Supply Chain Services is a full-service logistics provider and one of the top 100 trucking companies in the United States. Among the services the company provides are trucking (less-than-truckload [LTL], truckload [TL] and harbor drayage), warehousing and distribution, third-party logistics, air freight forwarding, ocean freight forwarding, freight transport to and from Hawaii and Guam and supply chain consulting.
Harry Massman began Dependable Trucking in Los Angeles in 1950 with...
There are many people interested in former transportation companies, whether they were trucking companies, railroads, airlines or ocean lines. These companies are called “fallen flags,” and the term describes companies whose corporate names have been dissolved through merger, bankruptcy or liquidation.
Today’s FreightWaves Classics profiles another fallen flag in the trucking industry – Pacific Intermountain Express, which was known as P.I.E. and P-I-E. Unfortunately, there is not much...
Less-than-truckload carrier Saia Inc. announced Tuesday a 7.5% general rate increase (GRI), which will apply to general tariff codes. A press release noted that select accessorial and minimum charges will be impacted as well. The changes went into effect Monday.
Carriers typically use GRIs to adjust base rates on an annual basis. The increases vary by lane and weight class. The announced percentage increase is the expected average change the GRIs will have. The increases are used to offset cost...
https://www.freightwaves.com/news/saias-75-gri-latest-in-string-of-2022-ltl-rate-hikes