Some key statistics at the U.S. LTL operations of TFI International remain a cause for concern at the Canada-based trucking conglomerate, and CEO Alain Bedard did not hold back discussing those issues on the company’s first-quarter earnings call.
The core of the U.S. LTL activities at TFI (NYSE: TFII) is known as TForce, and its roots are in the TFI acquisition of UPS’ LTL operations, UPS Freight, in 2021.
LTL discussions often turn to revenue per hundredweight, or yield, in analyzing how a...
The Federal Highway Administration has announced $148 million in grants to combat pollution at the nation’s ports caused by idling trucks.
The funding is part of a $400 million program to improve air quality under the Bipartisan Infrastructure Law. The first round of grants provides funding to 11 states and Puerto Rico under the Reduction of Truck Emissions at Port Facilities Grant Program.
Communities located close to ports “feel the brunt of more polluted air” because of idling trucks spewing...
The time it takes to fuel a hydrogen-powered fuel cell truck is already on par with diesel. But there is still a yawning gap when it comes to comparable driving range. A new hydrogen storage system that packs more energy density might change that.
The goal of hydrogen and battery-electric trucks is to reduce the 12% of greenhouse gas emissions attributed to heavy-duty trucking.
Chill out: Verne goes deep into minus celsius for cryo-compressionSan Francisco-based startup Verne is named after 19th...
https://www.freightwaves.com/news/really-cold-hydrogen-could-bring-driving-range-parity-with-diesel
Amerijet International plans to furlough a number of pilots in the near future to shore up cash flow after the loss of major contracts with the U.S. Postal Service and other accounts, according to internal company communications.
The number of pilots to be suspended depends on how many pilots accept offers to work less. The Miami-based cargo airline says it needs to reduce the pilot roster in line with lower customer demand.
“If we do not have enough volunteers or an increase in business, we will...
https://www.freightwaves.com/news/cargo-airline-amerijet-warns-of-pilot-furloughs-amid-downsizing
Recently, FreightWaves spoke with Wabash Director of Strategic Programs Glen Stewart about the company’s trailers-as-a-service (TaaS) offering, designed to help increase asset uptime.
According to the company, it has secured a near 100% recovery rate for its customers’ damaged trailers in 2024. “If damaged, trailers are fixed immediately, or a loaner can be provided,” a Wabash representative told FreightWaves.
Related:Wabash’s new trailers-as-a-service platform to support FreightVana’s...https://www.freightwaves.com/news/freighttech-friday-wabash-sees-success-with-trailers-as-a-service
Pam Transportation, the auto industry-focused truckload carrier whose stock has been battered in the past year and beyond, is buying back some of its shares through a process known as a Dutch auction.
Companies buy back their stock frequently but generally do so in a lower-key manner, entering the market as an occasional or frequent buyer operating through the normal processes of the equity markets. Companies often declare their intention to buy back stock over a certain period, but the...
A Wyoming locomotive engineer is suing Union Pacific (NYSE: UNP) in federal court, alleging he was injured when an AI computer software system caused two locomotives on the train on which he was working to move at conflicting speeds.
Andrew Kirol was injured in May 2021 when the AI software gave “incorrect, inconsistent, contradictory and dangerous instructions” to the locomotives powering the train, according to a lawsuit filed April 18 in the District of Wyoming.
Kirol was required to use the...
https://www.freightwaves.com/news/federal-suit-alleges-ai-system-injured-union-pacific-employee
The elephant in the room on the Norfolk Southern earnings call made only a brief appearance. But it will be returning in about two weeks.
There were no surprises in the first-quarter earnings report, as the Class 1 railroad (NYSE: NSC) had issued a preliminary report earlier in the month. The final numbers, showing a significant drop in earnings related to the East Palestine, Ohio, derailment in February 2023, were in line with those preliminary figures. The East Palestine derailment saw 38 cars...
https://www.freightwaves.com/news/no-surprises-in-norfolk-southern-earnings-as-coo-orr-makes-debut
In what has been a difficult quarter for trucking companies, both truckload and to a lesser degree LTL, Covenant Logistics reported first-quarter operating earnings that held up relatively well.
Covenant’s adjusted earnings per share on a non-GAAP basis came in at 84 cents per share, down from 93 cents per share a year ago. According to SeekingAlpha, that figure beat the consensus forecast by 4 cents per share. But adjusted operating income, the most basic profitability measure, rose to $14.8...
The U.S. Postal Service plans to shift daily air cargo volumes to UPS before the contract with FedEx expires in September to ensure no service interruption for customers heading into the busy holiday shipping season, the agency and company officials said Tuesday.
UPS’ (NYSE: UPS) ability to leverage its integrated air-and-ground network and bypass its main sort hub in Louisville, Kentucky, will enable the integrated express carrier to better profit from transporting domestic airmail for the...
https://www.freightwaves.com/news/us-postal-service-to-migrate-air-cargo-to-ups-during-summer