Asset-light transportation provider Forward Air reeled in its 2023 full-year outlook Tuesday but said the rate at which volumes have been declining has slowed in the last couple of weeks. Forward (NASDAQ: FWRD) reported first-quarter earnings per share of $1.37 Monday after the market closed, 7 cents better than Seeking Alpha’s consensus estimate but 20…
Heading into 2023, many had hoped that the second half of the year would hold a rebound in containerized U.S. import volumes just in time for peak season. But, just as U.S. import demand appeared to be finding a bottom, further downside risks have now emerged for the entire U.S. economy that are wrecking the…
A monthly survey of activity in the supply chain published Tuesday registered an all-time low in April. The Logistics Managers’ Index (LMI) produced a reading of 50.9 during the month, a new low for the 6.5-year-old data set. This was the third consecutive month the growth rate slowed, albeit only 20 basis points lower than…
The Scheduling Standards Consortium (SSC) has added seven partners as it prepares new open application programming interface scheduling standards to be released by the end of the year. Digital freight brokers Uber Freight and Convoy and logistics provider J.B. Hunt formed the SSC in December to begin standardizing trade data and synthesizing scheduling technology. Related:…
FreightWaves has published several stories in recent weeks about ongoing weakness in U.S. packaging demand, the result of intensifying pressure on Americans’ inflation-adjusted income as unprecedented government stimulus support wanes, elevated inflation persists and corporate layoff announcements multiply. Those pressures were evident in Costco’s March sales results a few weeks ago and have been similarly…