Covenant Logistics Group sees improvement in the overall freight market but not enough for a 2024 recovery, according to Chairman and CEO David Parker. Chattanooga, Tennessee-based Covenant (NASDAQ: CVLG) reported second-quarter earnings after the market closed Wednesday. Company officials held a conference call to discuss the results with analysts on Thursday. “I think things have…
Karen Smerchek, President of Veriha Trucking, joined Jeremy Reymer on the latest episode of Taking the Hire Road to discuss how carriers can embrace the current operating environment and improve the lives of both truck drivers and trucking industry personnel. Smerchek was raised working for Veriha, founded and owned by her father, and returned once…
This story originally appeared on Trains.com. OMAHA, Neb. – Union Pacific’s profits rose in the second quarter despite a sharp drop in coal traffic. “When you remove coal, our total volume was up 3% in the second quarter. This demonstrates that even in a tough freight environment, we are winning with our customers to bring…
Heartland Q2 earnings: Nowhere to go but up (Table: Heartland Express/FreightWaves) Heartland Express recently released its Q2 earnings, which saw a net loss of $3.5 million. FreightWaves’ Todd Maiden writes, “This was Heartland’s fourth consecutive quarterly net loss when excluding one-time gains from the sale of real estate. It booked $25.6 million in gains from…
This story has been updated. Temperature-controlled logistics real estate investment trust Lineage Inc. said nearly 57 million shares of its common stock were priced at $78 per share ahead of its initial public offering on Thursday. The deal will haul in roughly $4.4 billion in proceeds, better than the $3.4 billion to $3.9 billion range…