Broker Landstar System said it’s readying for an inflection, noting largely normal seasonal trends on its first-quarter call. The fact that it isn’t in cost-cutting mode like the asset-based operators is a bit of a reprieve from the carnage this earnings season has delivered. The company beat expectations for the first quarter, but its second-quarter…
Claims are a common source of frustration for most regular less-than-truckload shippers. Due to LTL carrier limitations and exclusions, shippers with damaged cargo often recover from $5 per pound down to as little as 10 cents per pound and are left without any viable avenue to recoup their losses. The nature of LTL makes preventing…
Knight-Swift Transportation said it is focused on reducing costs throughout the organization. That includes culling trailer counts, as well as tractor counts in some areas, to improve asset utilization. It is prioritizing investment dollars toward the expansion of its less-than-truckload business in the near-term. Like many in the truckload arena, the company was busy adding…
In what has been a difficult quarter for trucking companies, both truckload and to a lesser degree LTL, Covenant Logistics reported first-quarter operating earnings that held up relatively well. Covenant’s adjusted earnings per share on a non-GAAP basis came in at 84 cents per share, down from 93 cents per share a year ago. According…
WASHINGTON — After years of complaints from truckers, brokers and insurance companies, federal regulators are standing up a team specifically to deal with rampant fraud in the trucking industry. The Federal Motor Carrier Safety Administration’s Registration Fraud Team will work in the agency’s registration office to focus solely on assisting those who have been victims…