TT100 2023: Carriers Thrive Amid Freight Slowdown

In a softer freight year, TT100 carriers showcased resilience. Highlights include PepsiCo's growth, Amazon's rise, and notable newcomers and mergers.

TT100 2023: Carriers Thrive Amid Freight Slowdown
Source: TransportTopics

In a year marked by a softer freight environment, carriers on the Transport Topics Top 100 Private Carriers list have adeptly adjusted, boasting increased revenues and fleet sizes.

Growth Amidst Challenges:
Despite a broad market cooldown, over half of the TT100 companies expanded their fleets. Standouts include:

  • PepsiCo: Remains No. 1, growing its fleet by over 1,500 tractors to 12,590.
  • Walmart Inc.: At No. 2, utilized a new driver training program, boasting 11,361 tractors.
  • Sysco: Holding its No. 3 spot with 9,345 tractors.
  • Inc.: Leaped to No. 9, operating 3,909 tractors and a staggering 40,677 trailers.

M&A Activity:
The business landscape shifts as:

  • Kroger Co. aims to acquire Albertsons Cos., merging the No. 38 and No. 40 private fleet operators.
  • Darling Ingredients rose to No. 30 after acquiring Valley Proteins.
  • Knife River Corp. emerges as No. 70 after spinning off from MDU Resources.

Notable additions to the list include:

  • MasTec Inc. (No. 73): An infrastructure engineering construction firm.
  • Nine Energy Service (No. 96): Oil field services provider.
  • McKee Foods Corp. (No. 97): Distributor of the famed Little Debbie snacks.
  • Lipari Foods (No. 100): Distributor to 32 states.

Top 10 TT100 Private Carriers

Here's the full list of the Top 10 private carriers for 2023.

1. PepsiCo Inc.

  • Rank Last Year: 1
  • Annual Revenue: $86.4 billion

PepsiCo is a global food and beverage leader, with a vast product line that includes brands like Pepsi, Lay's, Quaker, Doritos, and Tropicana, among others.

2. Walmart Inc.

  • Rank Last Year: 2
  • Annual Revenue: $611.3 billion

Walmart, the world's largest retailer, operates one of North America's largest private trucking fleets. The company recently launched a program to train in-store and warehouse employees to become professional truck drivers.

3. Sysco Corp.

  • Rank Last Year: 3
  • Annual Revenue: $68 billion

Sysco is a major global distributor of food products, catering to restaurants, healthcare facilities, educational institutions, and other dining establishments.

4. US Foods

  • Rank Last Year: 4
  • Annual Revenue: $34 billion

US Foods is another leading foodservice distributor, supplying restaurants, hospitals, and hotels with a wide variety of products.

5. Performance Food Group

  • Rank Last Year: 5
  • Annual Revenue: $50.9 billion

PFG delivers over 200,000 food and related products to customers across the US, making it one of the key players in the food distribution market.

6. Reyes Holdings

  • Rank Last Year: 7
  • Annual Revenue: -

Reyes Holdings operates in food and beverage distribution, serving some of the most recognized brands in the world.

7. Halliburton Co.

  • Rank Last Year: 6
  • Annual Revenue: $20.3 billion

Halliburton is an American multinational corporation and one of the world's largest oil field service companies, providing products and services to the energy sector.

8. McLane Co.

  • Rank Last Year: 8
  • Annual Revenue: $53.2 billion

McLane offers supply chain solutions for businesses, distributing grocery and non-food products across the US.

9. Inc.

  • Rank Last Year: 19
  • Annual Revenue: $514 billion

Amazon continues to grow its private trucking fleet, lessening its reliance on UPS, FedEx, and USPS and earning its spot in the top 10.

10. United Rentals

  • Rank Last Year: 12
  • Annual Revenue: $11.6 billion

United Rentals is the largest equipment rental company in the world, offering a diverse range of equipment for rent to customers, including construction and industrial organizations.

Source: Transport Topics

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