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The post FreightWaves Infographics: Outgo commits to 4-hour factoring speeds, announces $15M capital raise appeared first on FreightWaves.
WASHINGTON — Regulators want to hear “diverse experiences and perspectives” from the trucking industry on plans to update how the government rates motor carriers on safety to determine when a motor carrier is not fit to operate. To help accomplish that goal, the Federal Motor Carrier Safety Administration announced it will hold an in-person listening…
Less-than-truckload carrier Saia reported second-quarter earnings per share of $3.83, which was 4% below the consensus estimate of $4 but 12% higher year over year. Revenue increased 19% y/y to $823 million as tonnage improved 10% and revenue per hundredweight, or yield, increased 8% (9% higher excluding fuel surcharges). The carrier reported an 83.3% operating…
Technology research and consulting firm Gartner recently released its Real Time Transportation Visibility Platform (RTTVP) report, highlighting the space’s top performers while suggesting areas for improvement. The company describes RTTVPs as platforms engineered to offer real-time tracking and status updates on orders after they leave the warehouse, using integration with carrier systems or telematics for…
Genesis Networks Telecom Services LLC, also known as Genesis ATS (GNET), headquartered in San Antonio, Texas, filed its petition in the U.S. Bankruptcy Court for the Western District of Texas. The company, which was founded in 2005, offered financing solutions for small and midsized companies, lists its assets as up to $50,000 and its liabilities…
Former Tony’s Express truck drivers and other employees say financial mismanagement by new owner John Ohle led to the 70-year-old trucking company’s recent collapse. Tony’s Express, headquartered in Fontana, California, shut down March 28 after Ohle and others sent a series of text messages starting on March 24, informing workers that the company would not…
Ryder System’s fourth quarter saw the continued rise of its Supply Chain Solutions (SCS) segment as a growing contributor to revenue and profitability, with used vehicle sales hurting the performance of its signature Fleet Management Solutions (FMS) vehicle leasing division. In prepared remarks released with the earnings, CEO Robert Sanchez, who has been leading the…