Autonomous truck testing without drivers is allowed in 42 states. California isn’t among them. Barring a turnaround among legislators or a veto of legislation by Gov. Gavin Newsom, prospects are bleak. The legislation is known as Assembly Bill 316. It was introduced following California restarting long-dormant framework discussions on heavy-duty autonomy under purview of the…
A 3% drop in revenue put pressure on CSX’s net profits for the second quarter of 2023, according to financial results that the company released late Thursday. Revenue at the eastern U.S. Class I railroad fell 3% to $3.7 billion from the second quarter of 2022 amid lower fuel prices, reduced supplemental revenue, a decline…
Knight-Swift Transportation significantly lowered its 2023 full-year outlook Thursday, citing the expectation for further weakness in truckload and intermodal rates, lower gains on equipment sales, and losses at recently acquired U.S. Xpress. The company is now calling for full-year earnings per share of $2.10 to $2.30, well below the prior guide of $3.45 (at the…
Western U.S. railroad BNSF and eastern U.S. rail carrier CSX are involved in or at least being affected by industrial development programs on their networks, according to recent announcements. In Arizona, commercial real estate developer Cushman & Wakefield worked with real estate investment firm Westcore on a $73.3 million acquisition financing deal involving Hatcher Industrial….
With two big Teamsters-related issues grabbing the trucking headlines, it was no surprise that the focus of the State of Freight webinar for July was on Yellow Corp. and UPS. Here’s are five takeaways from the more than one-hour chat Thursday between FreightWaves CEO Craig Fuller and Director of Freight Market Intelligence Zach Strickland. (You can…