Supply chain logistics company Stord purchased the fulfillment services operation of Pitney Bowes’ e-commerce division on Friday, according to a report by The Information independently confirmed by FreightWaves. Terms of the acquisition weren’t immediately available, according to the report. The news comes after Pitney Bowes (NYSE: PBI) announced Greg Zegras retired as president of the…
The latest trucking economic data paints a mixed picture that reflects softening freight volumes, but an improving alignment in supply and demand. Shippers saw conditions improve but FTR warns the […]
Growing pains from building out a national network hampered Saia’s second-quarter results, sending shares of the less-than-truckload carrier more than 20% lower briefly on Friday. Incremental operating costs from the company’s terminal additions and a mix shift to lower-weight, retail freight were a drag on margins during the period. Saia (NASDAQ: SAIA) reported second-quarter earnings…
An Ohio truck driver is facing 26 charges, including aggravated vehicular homicide, after a November crash left six people dead, including three high school students. Jacob McDonald, 60, of Zanesville, was arrested July 18 after being indicted by a Licking County grand jury for his role in a Nov. 14 crash that killed Dave Kennat,…
Universal Logistics Holdings’ second-quarter results showed a 12% year-over-year increase in total revenue to $462.2 million, while earnings increased 30% year over year to $1.17 per share. The company surpassed Wall Street expectations of $461.4 million in revenue and EPS of $1.14. “We grew top-line revenue by 12%, delivered a double-digit operating margin and increased…