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.
Landstar, the infamous company we freight brokers and dispatchers like to make fun of, is laughing right back at us. Their stock price reached a 52-week high yesterday at $188.78. While almost the entire stock market is in the gutter (besides tech companies that mention AI in their shareholder calls), Landstar is booming. Why is that? For one, investors like their agency model, because it makes money. This comes in stark contrast to CH Robinson, a close peer, which has seen its stock decline by 12% in the same period.
52-week high alert: $LSTR. It hit $188.78 today. It's up 26.42% in the last 52 weeks. It's tough to find a peer for it, since it's a unique model. But $CHRW is probably closest. Robinson is down 12% in the last 52 weeks. #trucking pic.twitter.com/0EHQTXq7GS
— John Kingston (@JohnHKingston) June 8, 2023
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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