Analysts are cutting truckload earnings estimates again just ahead of fourth-quarter reports, which will start to trickle in later this week. Recent channel checks revealed a notable falloff in fundamentals in the back half of December, dispelling hopes that the quarter would be a transitionary period. “We understand that multiple companies across multiple sub-sectors across…
A move higher in the benchmark diesel price used for most fuel surcharges may prove short-lived, because oil futures markets have resumed their downward slide. The Department of Energy/Energy Information Administration average weekly retail diesel price rose 3.5 cents a gallon, effective Monday, to $3.863. It was only the fourth increase in the past 17…
Logistics real estate operator Prologis reported fourth-quarter results that were in line with analysts’ expectations. The company’s first take at full-year 2024 guidance was also as expected. The San Francisco-based company reported core funds from operations (FFO) of $1.26, which was 2 cents higher year over year (y/y). Rental revenue of $1.76 billion was up…
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A merger dispute between Forward Air and Omni Logistics will finally be heard in a courtroom on Friday. The Delaware Court of Chancery will be tasked with determining if Omni breached the deal agreement by failing to meet certain pre-closing conditions and if it misrepresented financial projections as Forward has alleged. Omni filed suit against…