truck brokerage

J.B. Hunt sees normal seasonality in Q3

J.B. Hunt Transport Services beat third-quarter expectations Tuesday, sending shares 7% higher in after-hours trading. The multimodal transportation provider saw stabilized, and in some cases improving, trends across its service offerings as it prepares for “an eventual turn in the freight market.”

J.B. Hunt (NASDAQ: JBHT) reported earnings per share of $1.49, which was 8 cents ahead of the consensus estimate but 31 cents lower year over year.

Table: J.B. Hunt’s key performance indicators –...

https://www.freightwaves.com/news/j-b-hunt-sees-normal-seasonality-in-q3

J.B. Hunt Q3 first look: Stock jumps on earnings beat

J.B. Hunt Transport Services beat third-quarter expectations Tuesday after the market closed, reporting earnings per share of $1.49, 8 cents ahead of the consensus estimate but 31 cents lower year over year.

The multimodal transportation provider’s intermodal segment reported no y/y change in revenue as a 5% increase in loads was offset by an equal decline in revenue per load. The volume increase was approximately half the increase in total intermodal traffic reported by the U.S. Class I...

https://www.freightwaves.com/news/j-b-hunt-q3-first-look-stock-jumps-on-earnings-beat

RXO sees ‘too much capacity’ in trucking heading into 2024

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The pace of the capacity shakeout in trucking needs to increase before the industry can begin seeing...

https://www.freightwaves.com/news/rxo-sees-too-much-capacity-in-trucking-heading-into-2024

Landstar sees continuation of soft freight market in Q4

Broker Landstar System reported an in-line third-quarter result Wednesday after the market closed. However, its fourth-quarter outlook was light of expectations.

Landstar (NASDAQ: LSTR) reported third-quarter earnings per share of $1.71, in line with the consensus estimate but $1.05 lower year over year (y/y). The company reported a 29% y/y decline in total revenue to $1.289 billion. Both results were near the middle of management’s guidance ranges.

Total truck transportation revenue was off 27%...

https://www.freightwaves.com/news/landstar-sees-continuation-of-soft-freight-market-in-q4

Former Yellow Logistics employees open new Radiant office

Radiant Logistics announced it has opened a new brokerage office in Overland Park, Kansas. The managers of the new operation were formerly with Yellow Logistics until its Aug. 1 closure.

Radiant Road and Rail, the brokerage arm of Radiant (NYSE: RLGT), focuses on truckload, less-than-truckload, intermodal, drayage and transloading services. The unit was founded 85 years ago and operated as Clipper Exxpress until last year.

Steve McCleary will head the customer and carrier teams while Ryan Stroup...

https://www.freightwaves.com/news/former-yellow-logistics-employees-open-new-radiant-office

Flexport names Uber Freight chief to lead digital truck unit

Cross-border logistics provider Flexport is developing a truck brokerage business to take care of the domestic transportation leg for imports in one supply chain ecosystem after acquiring the e-commerce fulfillment and final-mile delivery assets of Shopify.

The company has hired Bill Driegert, a former Amazon executive who previously headed Uber Freight, to develop Flexport’s trucking product, new CEO Dave Clark said in an internal memo to employees on Thursday that the company shared with...

https://www.freightwaves.com/news/flexport-names-uber-freight-chief-to-lead-digital-truck-unit

FMCSA wants more feedback to help weed out corrupt brokers

The Federal Motor Carrier Safety Administration announced on Tuesday a listening session it will hold at a major truck show to get more public input that will help the agency crack down on illegal brokering.

FMCSA, which will host the session March 31 at the Mid America Trucking Show (MATS) in Louisville, Kentucky, wants to hear comments on two matters: interim guidance issued in November on the agency’s interpretation of how brokers and bona fide agents are defined, and a proposal issued on...

https://www.freightwaves.com/news/fmcsa-wants-more-feedback-to-help-weed-out-corrupt-brokers

Echo Global Logistics adds LTL veterans to roster

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Chicago-based 3PL Echo Global Logistics announced Wednesday the addition of less-than-truckload...

Indianapolis-based 3PL FitzMark inks 7th acquisition

Third-party logistics provider FitzMark said Wednesday it has acquired truck broker GTO 2000.

Gainesville, Georgia-based GTO 2000 focuses primarily on temperature-controlled truckload transportation. The nearly 50-year-old company boasts a network of more than 14,000 carriers, which also provide dry van, flatbed, expedited, intermodal and less-than-truckload transportation.

Financial terms of the transaction were not provided.

“Adding to our knowledge and experience in the refrigerated vertical,...

Congress directs action on broker-related regulations

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A fiscal year 2023 funding bill unveiled Tuesday includes updated measures affecting trucking and...

https://www.freightwaves.com/news/congress-directs-action-on-broker-related-regulations

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