Less-than-Truckload

Company officials said that this facility, its West Phoenix Service Center, is “perfectly positioned” to serve the growing Phoenix market, while bringing FedEx Freight’s total door count to almost 26,000.

XPO said that Brad Jacobs, Chairman and CEO, will transition to Executive Chairman, as well as Non-Executive Chairman of the spin-off, with acting LTL President and Chief Information Officer Mario Harik will assume the role of XPO CEO, which, at that point, will be a pureplay LTL carrier through the completion of the spin-off and the divestiture of its European business.

New records were hit for quarterly revenue—at $3.23 billion—up 1.2% annually (and up 11% when excluding the March sale of its intermodal business), with net income—at $141 million—up 19.9%. Operating income—at $230 million—was up 17%. Adjusted EBITDA—at $405 million—increased 18.5% annually, the highest in XPO’s history, well ahead of previous guidance, at $360 million-to-$370 million. And earnings per share—at $1.81—were up compared to $1.00 for the second quarter of 2021, marking the highest for the second quarter ever for XPO. Free cash...

Yellow posted second quarter operating revenue of $1.424 billion and operating income of $99.2 million, which included a $3.2 million net gain on property disposals. In comparison, operating revenue in the 2021 second quarter was $1.313 billion and operating income was $27 million. Yellow’s net income for second quarter was $60 million, compared with a net loss of $9.4 million in the second quarter of 2021.

Atlanta-based Nolan Transportation Group (NTG), a provider of non-asset, tech-enabled logistics and brokerage services, and a subsidiary of Transportation Insight, and San Francisco-based freight forwarding and customs brokerage services provider Flexport, said they are collaborating on a strategic partnership focused on integrating their respective technologies, with a focus on “greater visibility across supply chains.”

The new edition of the Cowen/AFS Freight Index, which was recently released by New York-based investment firm Cowen Inc. and Shreveport, La.-based 3PL and freight audit and payment company AFS Logistics LLC, showed how the duo of higher carrier fuel surcharges and record-high inflation have impacted multiple modes, in tandem with flattening modal growth trajectories, seasonal factors, still-high fuel costs, and softening demand.

Greenwich, Conn.-based freight transportation services provider XPO Logistics said it has established a new name for its truck brokerage and asset-light transportation units, in the latest step of its spin-off processes over the last several months. The new company will be named RXO, which XPO said will reflect its commitment to providing shippers with “reliability multiplied by outperformance,” with a corporate tagline of “Massive capacity. Cutting edge technology.”

Downers Grove, Ill.-based Roadrunner, a national less-than-truckload (LTL) services provider, with a focus on long-haul metro-to-metro shipping, said it has added five additional direct lanes to its service network. And it also noted that it has improved transit times by at least one day in 66 of its major lanes.

Find out how noted technology company Toshiba America Business Solutions is cutting costs and increasing customer satisfaction by switching from less-than-truckload, LTL, to shared truckload, STL.

Logistics Management Group News Editor Jeff Berman recently spoke with Kait Parker, VP of LTL Operations at Coyote Logistics, a Chicago-based transportation and logistics management and truckload freight brokerage services, and a subsidiary of freight transportation and logistics services bellwether UPS. Parker provided Berman with an overview of the less-than-truckload (LTL) market, from a few different perspectives, including rates, planning, and service, among others.

Greenwich, Conn.-based freight transportation services provider XPO Logistics said earlier today that it has filed a confidential Form 10 registration statement with the United States Securities and Exchange Commission (SEC), regarding the planned spin-off of the company’s North American truck brokerage business. XPO officials said that the spin-off is expected to be completed during the fourth quarter.

Yellow, which controls 10% of the $46 billion less-than-truckload (LTL) marketplace, narrowed its loss in first quarter to $27.5 million from $63.3 million in the year-ago first quarter. That came on operating revenue of $1.26 billion, compared with $1.198 billion in the year-ago first quarter.

Yellow Corp., which controls 10 percent of the $46 billion less-than-truckload (LTL) market, has begun a proposed change of operations that CEO Darren Hawkins says will make the carrier much more efficient and easier for shippers to use.

Earlier this month, Frisco, Texas-based Transplace, a non-asset-based third-party logistics services provider and subsidiary of Uber Freight, rolled out a new addition to its Transplace Network Services offerings, with a new tech-enabled service—entitled OptiPro—that identifies cross-customer opportunities for both LTL (Less-than-Truckload) and partial truckload freight.