A penny stock wiped $4.8B off C.H. Robinson's market cap yesterday. Plus: self-driving trucks are now running 1,000 miles nonstop, STG Logistics cleared a major bankruptcy hurdle, the FMCSA revoked nine ELDs, and more.
For a long time, secure parking lived in the “nice-to-have” bucket. That framing no longer works. In today’s environment, secure parking functions as a preventative security layer.
Here’s what’s trending across freight and logistics on X, LinkedIn, Reddit, and YouTube.
Plus: Our AMA Above the Clouds with Matt Silver, the most recent Q4 earnings, and an exciting podcast episode with freight brokerage Co-Founders.
Good Wednesday morning. We're easing into positive news for freight, with the industry seeing transportation prices showing expansion for the first time in 19 months. We're also bringing you an exclusive impromptu interview with Matt Silver, the latest Q4 logistics earnings, and spotlighting the latest FreightCaviar Podcast with the duo behind Critical Brokerage Services.
In today's email:
TOP LANE MOVERS POWERED BY GREENSCREENS.AI
*Greenscreens.ai, forecasts real-time truckload buy prices that are suited to each freight brokerage's purchasing power using AI and machine learning. Its engine takes into account over 130 attributes and data points in each rate forecast.
🐔 WHAT’S COOKIN’ IN FREIGHT
✈️ Mid-Flight Freight AMA. FreightCaviar hosted an impromptu AMA with logistics expert Matt Silver while on a flight to Manifest Vegas. They tackled queries from X (Twitter) about industry strategies and Coyote's future. Silver dished real talk on tech in freight brokerage, ways to stand out to enterprise shippers, and why he won't be trying to buy back Coyote Logistics.
📉 Q4 2023 Logistics Earnings Reports. ArcBest, Marten Transport, and Werner Enterprises struggled against a sluggish freight environment in the latest earnings. Starting with the positive: ArcBest reported a dip in Q4 revenue to $1.09 billion, a 12.4% YoY decrease, yet saw an uptick in net income. The full-year revenue stood at $4.4 billion, cementing its place as the second-highest in the company's history. Marten Transport faced operating revenue falling to $268.22 million from $322.58 million in the previous year. The annual narrative was also dim, with revenues declining. Werner saw total revenues dropping 5% in Q4 to $812.9 million and operating income taking a 57% hit to $37.9 million. Full-year revenue remained relatively steady at $3.28 billion.
🎙️ Have You Tuned In? In the newest FreightCaviar Podcast episode, we visited Critical Brokerage Services (CBS) in Vancouver, Washington, and interviewed their Co-Founders and Co-CEOs Roman Velychko & Max Nikiforets. From their start in box trucking to leading a thriving brokerage, we covered the importance of insurance insights, strategic partnerships, and a relentless work ethic. Learn how CBS differentiates itself in a competitive market, the role of trust in business, and tips for brokers and truckers aiming for success. Here are the links to tune in: Apple Podcasts, Spotify, and YouTube.
TOGETHER WITH RAPIDO
Rapido is a top nearshore staffing company providing logistics and supply chain talent to companies in the United States. Based in Guadalajara, Mexico, Rapido offers a unique combination of cost savings and access to a skilled workforce, making it an attractive option for American logistics businesses.
See what makes nearshoring to Mexico an attractive option for scaling a logistics company and how partnering with Rapido Solutions Group simplifies the whole process.
After 19 months of waiting, transportation prices are growing, furthering speculations of a closer end to the freight recession. The increase comes as we're seeing retailers filling up their inventories again, showing they are feeling optimistic about customer demand.
We're getting these numbers from the January 2024 Logistics Managers' Index report, a monthly survey of over 100 logistics professionals.
The LMI uses a methodology similar to a diffusion index, where a score above 50 indicates expansion in the logistics industry and a score below 50 means contraction.
The numerical points reflect the overall sentiment and activity levels within the market, with the January report increases indicating growth and potential recovery in the sector.
Details on the Jump: Many retailers have made the switch to a just-in-time merchandise strategy as the pandemic demand highs waned and inventory piled up. However, now we're seeing some increase in their restocking pace in January.
Transportation Prices rising more rapidly alongside Inventory Costs hints at a return to growth for the logistics sector. Another positive sign comes from Warehouse Capacity, which sees its first expansion in 17 months.
Combined, we're seeing robust demand and an optimistic outlook for transportation as we begin to navigate out of the freight recession.
Survey respondents were asked to predict movement in the overall LMI and individual metrics 12 months from now.
For a comprehensive view, look into the full report on the Logistics Managers' Index website.
TOGETHER WITH TURVO
If you're still running your logistics business on spreadsheets or using outdated transportation management software, this year will be harder than it has to be.
Ask for a Demo to learn how Turvo customers achieve a 95% reduction in manual steps per shipment, 3X more revenue per broker, and 5X more shipments per client than the norm.
AROUND THE FREIGHT WEB
🚀 Highs for Transportation Stocks. A stellar day for the transportation sector with $JBHT, $XPO, $ARCB achieving 52-week highs, along with $CNI and $PCAR, driven by solid earnings.
📉 Brokerage Downturn. The start of 2024 sees an 8.4% YoY decline in active freight brokerage authorities, though numbers are still 17.3% higher than three years ago.
🚂 Ongoing Recovery in East Palestine. A year post-catastrophe, East Palestine faces a divided future amidst an active cleanup by Norfolk Southern, costing over $800 million. The community grapples with environmental and health concerns brought about by the derailment.
🚨 Paccar Recall Alert. Over 47,000 trucks are being recalled by Paccar due to a steering assembly issue, affecting 2024-2025 Kenworth and Peterbilt models.
💰 Yellow Repays COVID Loan. Bankrupt Yellow Corp. has repaid its $700 million COVID-relief loan along with over $151 million in interest to the U.S. Treasury, as debates continued over the loan's justification and impact on national security and taxpayer risk.
🏭 Freight Handlers Layoff. Freight Handlers Inc. announces a shutdown at a Manchester warehouse by the end of March, leading to 383 layoffs. The closure follows the termination of a contract with ADUSA Distribution.
FREIGHT MEME OF THE DAY
Also, check out:
A penny stock wiped $4.8B off C.H. Robinson's market cap yesterday. Plus: self-driving trucks are now running 1,000 miles nonstop, STG Logistics cleared a major bankruptcy hurdle, the FMCSA revoked nine ELDs, and more.
Here’s what’s trending across freight and logistics on X, LinkedIn, Reddit, and YouTube.
In just three years, we have moved from an industry that relied heavily on manual phone calls and emails to one where many of us use AI to some extent to support the above.
Plus, XPO and Hub Group Q4 2025 earnings, a trucking private-equity firm files bankruptcy, Mexico long-haul truckers win union rights, and more.
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