Operating profit at Deutsche Lufthansa AG’s cargo subsidiary plummeted 92% during the second quarter as the ongoing freight recession eroded nearly half of revenues from the same 2022 period, the company reported Thursday. The company was downbeat about the cargo business in the second half of 2023, saying it expects a continued decrease in freight…
Asset-light transportation provider Forward Air missed second-quarter earnings expectations and its guidance for the third quarter was worse than expected. Management admitted on a Wednesday call with analysts it needs to take a more conservative approach to forecasting. “I do need to get better in forecasting in dynamic, challenging times like we’re in,” said Chairman,…
While hiring drivers is a continuous pain point for the trucking industry, keeping those drivers is arguably more important and even more difficult to accomplish. As carriers seek ways to reduce turnover, rewards programs have become a popular way to incentivize drivers to stay. Internal rewards programs are a common way for carriers to recognize…
A collapse in volumes, an overabundance of carriers in the market and rising operational costs have tested transportation providers’ endurance. All the while, companies continue to combat deep-rooted issues that plague the industry, especially the ongoing driver shortage. But it’s not all doom and gloom. If history and past trucking cycles tell us anything, the…
Owner-operators Toni and Chris Murphy of New Egypt, New Jersey, said it’s been hard to fight back against an invisible tech-savvy fraudster who stole their trucking company’s identity, posted loads using their Department of Transportation number, collected payment for those loads, then disappeared, leaving the Murphys to deal with the fallout. The couple own Murphy’s…