Continued pressure on ArcBest’s truckload brokerage operations diluted the improvement seen at its less-than-truckload unit during the second quarter, leading to an earnings miss versus analysts’ expectations. ArcBest (NASDAQ: ARCB) reported adjusted earnings per share of $1.98 for the second quarter. The result was 8 cents below the consensus estimate but 44 cents higher year…
Cargo revenue at Sun Country Airlines inched up in the second quarter despite reduced flight activity on behalf of Amazon, but is expected to jump one year from now when the retail giant supplies additional Boeing 737-800 freighters to the carrier. The two companies in late June agreed on an expanded transportation services agreement under…
A federal lawsuit filed against the owners and operators of a cargo ship that sank off the Georgia coast in 2019 has been dismissed at the request of a local county that had filed suit alleging it caused damage to the environment. The lawsuit, filed by Glynn County in the U.S. District Court for the…
New Jersey independent contractors who haul freight under STG Drayage’s operating authority were notified Monday that they will no longer be tendered loads beginning in late November unless the truckers get their own authority through the Federal Motor Carrier Safety Administration and meet other requirements. “After careful consideration of shifting market conditions and changing legal…
When most fleets think about the electric grid, it’s about how much power they can get and when. Seed-stage startup Synop has another idea – making money by helping return unneeded power to utilities. Seed-stage startup Synop found its niche in bidirectional charging. (Image: Synop) Giving back (electricity) as a business When Gagan Dhillon worked…