Logistics warehouse operator Prologis slightly lowered its 2024 guidance on Wednesday as it expects leasing activity to “stay competitive” in some markets. It’s calling for occupancy and net operating income to step lower. Prologis (NYSE: PLD) reported core funds from operations (FFO) of $1.28 in the first quarter of 2024, which was in line with…
Knight-Swift Transportation cut earnings expectations by 58% for the first half of the year on Wednesday, citing an oversupplied truck market, poor weather in January and a tough start to bid season. The company said adjusted earnings per share for the first quarter will range between 11 and 12 cents compared to a 39-cent outlook…
A family-owned trucking company and brokerage — California Intermodal Associates Inc. (CIA), headquartered in Commerce, California — is ceasing operations after nearly 25 years, citing the state’s independent contractor law. CEO Gabriel Chaul said he recently notified customers that he is winding down operations. “I blame AB5 for the main reasons our company is closing,”…
On March 31, 2022, FreightWaves declared that a freight recession was imminent. More than two years later, the freight market remains in one of its deepest and longest recessions in history. Our original conclusion was derived from signals from FreightWaves SONAR. Its high-frequency datasets, which track freight supply and demand in real time, indicated an…
Today’s Trucking’s annual list of Canada’s Top 100 largest for-hire carriers reflects the impact the economic climate had on the trucking industry’s landscape. You will see seven new names on […]