Less-than-truckload carrier XPO is benefiting from an industrywide capacity shake-up. The company said it may ramp up planned terminal and equipment additions to meet the higher level of demand. On its second-quarter call with analysts Friday, the company said demand troughed in March, improved in April and May but ticked lower in June. However, by…
Ocean freight colossus Mediterranean Shipping Co. said Thursday it has acquired a majority stake in AlisCargo Airlines SpA and plans to take full control of the Milan-based company in early 2024, underscoring the seriousness of its air cargo strategy even as the international freight market languishes in a sustained trough. AlisCargo was founded in 2019…
The transportation industry is a critical part of the U.S. economy and as such, organizations large and small within the industry could be appealing targets to cybercriminals. In recent years, as the industry has undergone a digital transformation, the number of vulnerabilities that bad actors can exploit has only grown. “The more you digitize, the…
Truck transportation jobs in the U.S. did something in June and July that they hadn’t done since the start of the pandemic: decline in both months. Since truck transportation seasonally adjusted jobs posted declines of 4,100 jobs and 84,500 jobs in March and April 2020, respectively, the number of jobs in that sector reported by…
Less-than-truckload carrier XPO beat analysts’ expectations for the second quarter and volumes saw a big move in July as one competitor shut down. XPO (NYSE: XPO) reported second-quarter adjusted earnings per share of 71 cents, 10 cents better than the consensus estimate but 43 cents lower year over year (y/y). The result excluded transaction costs…