Less than Truckload (LTL)

Cross-border LTL Q&A with FreightPlus SVP

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Cross-border freight flows have been increasing for years but interest around shipping from Mexico...

XPO beats Q1 expectations, eyes $50M in labor cost reductions

Less-than-truckload carrier XPO beat first-quarter expectations Thursday and provided commentary that sent shares higher.

XPO (NYSE: XPO) reported adjusted earnings per share of 56 cents, which was 10 cents higher than the consensus estimate and the first quarter of 2022. The result excluded transaction costs from the spinoff of its brokerage unit RXO (NYSE: RXO) and the decision to retain its European business unit. Restructuring costs in both of its segments were also excluded.

Less-than-trucklo...

Yellow posts Q1 loss as it negotiates operational changes, labor deal

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Less-than-truckload carrier Yellow Corp. booked operating and net losses in the first quarter as it...

Forward Air dials down 2023 outlook but sees ‘real improvements’

Asset-light transportation provider Forward Air reeled in its 2023 full-year outlook Tuesday but said the rate at which volumes have been declining has slowed in the last couple of weeks.

Forward (NASDAQ: FWRD) reported first-quarter earnings per share of $1.37 Monday after the market closed, 7 cents better than Seeking Alpha’s consensus estimate but 20 cents lower year over year (y/y).

The result benefited by 24 cents due to the reversal of an incentive comp accrual as the freight market...

https://www.freightwaves.com/news/forward-air-dials-down-2023-outlook-but-sees-real-improvements

FedEx Freight to close 29 service centers

FedEx Freight, the less-than-truckload unit of FedEx Corp. (NYSE: FDX), will close 29 service locations in the U.S. as part of an ongoing efficiency drive.

The closures will occur by Aug. 13, the unit said Monday. The affected operations will be consolidated into other locations. The company is working with employees to find positions elsewhere in the system. It is unclear how many workers will be affected. There are 371 stations across the Ground system.

Separately, FedEx Freight will furlough...

https://www.freightwaves.com/news/fedex-freight-to-close-29-service-centers

TFI makes 2 LTL acquisitions in Canada, US  

Canadian transportation company TFI International Inc. said Monday it has acquired Canadian LTL carrier Siemens Transportation Group (STG) and U.S.-based LTL provider Hot Line Freight Systems. Terms of the transactions were not disclosed.

Founded in 1962, most of STG’s operations are LTL, with a smaller portion of its business in truckload and flatbed. Based in Saskatoon, Saskatchewan, STG is a family-owned business generating about $111 million in revenues through 15 terminals — 11 in Canada...

https://www.freightwaves.com/news/tfi-makes-2-ltl-acquisitions-in-canada-usnbspnbsp

At 50, FedEx faces new opportunities and challenges

As Monday broke over Wall Street, 60 top FedEx Corp. executives stood at the podium of the New York Stock Exchange to ring the opening bell for trading. Cities across the globe from Kuala Lumpur, Malaysia, to the company’s home in Memphis, Tennessee, were lighting landmarks, and airports were hued in its orange and purple colors. Last week, a portrait series collaboration with the famed photojournalist Annie Leibovitz was published to spotlight and elevate FedEx’s small business customers....

https://www.freightwaves.com/news/at-50-fedex-faces-new-opportunities-and-challenges

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