Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
JB Hunt reports an 18% YoY drop in Q2 revenues due to a persistently weak freight market. The company seeks cost-effective strategies.
JB Hunt Transport Services announced an 18% YoY fall in Q2 revenues, attributing it to the weak freight market. This drop in revenues, to $3.13 billion, was coupled with YoY volume declines across all segments. Despite these challenges, the company plans to withstand the freight slowdown, offering competitive pricing and helping customers reduce costs through route redesigns and fleet optimization. Q2 also saw a YoY increase of 12% and 21% in operating income for its final mile services and dedicated contract services segments respectively.
JB Hunt remains dedicated to investing in technology to enhance productivity and provide customer value, despite the uncertain market environment.
Source: Transport Topics
J.B. Hunt Transport with another double miss.
— The Transcript (@TheTranscript_) July 18, 2023
"Demand for intermodal capacity continued to be impacted by weaker overall freight activity, particularly import-related freight"$JBHT: -0.6% AH https://t.co/LdrO9pKybE pic.twitter.com/HSGz5lh9Ru
UPS maintains ambitious 2026 targets, but investors remain skeptical as it misses its Q2 expectations, sending the stock tumbling 13%.
A truck carrying flammable chemicals crashed and exploded on Route 3 in Clifton, NJ, killing the driver and forcing evacuations.
Lineage, the cold chain logistics leader, plans a massive $3.85 billion IPO, offering 47 million shares priced between $70 to $82 each.
Q2 sees slower rate of trucking business exits, but market remains challenging. Here are the latest industry data and expert insights.
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