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Project44’s Cooperative makes real-time data actionable for 3PLs
Global supply chain visibility provider project44 on Thursday announced that after testing with an undefined number of its third-party logistics customers, it has produced its newest tool, Cooperative.
Using real-time data from the 150,000 truckload carriers within the company’s network, along with data from more than 300,000 shipments those carriers perform every week, 3PLs can now leverage that information to make better freight-matching decisions.
In the announcement, project44 made it clear...
https://www.freightwaves.com/news/project44s-cooperative-makes-real-time-data-actionable-for-3pls
ArcBest sees billions of dollars in opportunities with MoLo acquisition
ArcBest (NASDAQ: ARCB) took a big step toward bridging the gap to a long-term goal Wednesday with the acquisition of Chicago-based truckload broker MoLo Solutions. The deal advances a key initiative for the Fort Smith, Arkansas-based logistics and less-than-truckload provider — to grow its asset-light operations to a level equal to its asset-based trucking unit.
MoLo’s $600 million in expected revenue for 2021 pushes ArcBest’s consolidated annual top line to $4.1 billion, with asset-light...
https://www.freightwaves.com/news/arcbest-sees-billions-in-opportunities-from-molo-acquisition
Brokerage revenue soars for carriers amid extended capacity crunch
Chart of the Week: Brokerage Revenue as a Percent of Total, Revenue per Driver per Week – Dry Van Consolidated SONAR: BROREV.VCNS, DRVREV.VCFOO
According to Truckload Carriers Association (TCA) data, brokerage revenue as a percent of total hit an all-time high this past June with a value of 22.01%. This is occurring at the same time as near-record revenue efficiency is being hit on the asset side. When these two values move higher together, it is an indication that this is as good as it gets...
https://www.freightwaves.com/news/brokerage-revenue-soars-for-carriers-amid-extended-capacity-crunch
C.H. Robinson beats earnings estimates with higher revenue, stable margins
C.H. Robinson (NASDAQ: CHRW), the largest North American third-party logistics provider, announced its financial and operational results for the fourth quarter of 2020 after markets closed on Tuesday.
Robinson grew earnings per share to $1.08, up 47.9% from 2019’s dismal fourth quarter and enough to beat Wall Street’s consensus estimate of 94 cents per share.
Higher prices to customers and higher volumes across most modes offered by Robinson led to fourth-quarter revenue of $4.5 billion, up 19.9%...
Landstar announces $2-per-share special dividend
Truck broker Landstar System Inc. (NASDAQ: LSTR) announced Wednesday after the market close that it will pay a one-time special dividend of $2 per share on Jan. 22.
The Jacksonville, Florida-based company’s president and CEO, Jim Gattoni, had indicated during a presentation at an investor conference last month that the cash payment would likely be the preferred method of deploying cash to shareholders. The other option was the repurchase of the company’s stock, assuming an attractive buying...
https://www.freightwaves.com/news/landstar-announces-2-per-share-special-dividend
Werner beats Q3 estimates
Werner Enterprises (NASDAQ: WERN) reported adjusted earnings per share (EPS) of 69 cents on Wednesday after the market close. The result was ahead of consensus estimates ranging from 65 cents to 67 cents.
The company’s truckload (TL) segment saw revenue excluding fuel surcharges of $417 million, flat year-over-year. Revenue per tractor per week increased 4% in the company’s one-way segment and 6% in the dedicated unit as both divisions saw pricing improve.
Revenue per total mile increased 3% in...
Robinson beats earnings estimates by a penny; Forwarding saves the day
C.H. Robinson’s (NASDAQ: CHRW) third-quarter 2020 earnings per share of $1 beat Wall Street’s consensus estimate by a penny, according to operating and financial results that the third-party logistics provider giant released Tuesday after markets closed. C.H. Robinson grew gross revenue by 9.6% to $4.2 billion but saw net revenues fall 7% $589.3 million. Earnings were 6.5% lower than the third quarter of 2019.
“We were able to deliver solid performance across our diversified business portfolio...
https://s29755.pcdn.co/news/robinson-beats-earnings-estimates-by-a-penny-forwarding-saves-the-day
Commentary: How Cargomatic started the digital brokerage boom
The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.
When Uber launched in 2010, it didn’t take a logistics genius to wonder how the technology and business processes the company brought to market for people was going to reshape the trucking industry. Fast-forward to 2020 and Uber for X is a movement that has already come and gone.
While it may seem that Uber Freight and Convoy have cornered the digital freight...
https://s29755.pcdn.co/news/commentary-how-cargomatic-started-the-digital-brokerage-boom
J.B. Hunt handily beats 2Q expectations
J.B. Hunt Transport Services’ (NASDAQ: JBHT) first quarter was much better than feared. The company reported earnings per share of $1.14, 9 cents per share lower than the year-ago result but well ahead of the 83-cent consensus estimate.
Total revenue declined 5% year-over-year at $2.15 billion but was only off 0.5% excluding fuel surcharge revenue.
Operating income of $175.2 million was down 9.3% year-over-year. The company cited higher purchased transportation costs, technology investments and...
https://www.freightwaves.com/news/j-b-hunt-handily-beats-2q-expectations