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Business, Logistics, For-Hire, Top 100

XPO Posts Strong Q2 Earnings Amid Upcoming Leadership Change

XPO Logistics building

XPO Logistics Inc. on Aug. 4 reported record revenue and net income for the second quarter, part of a busy week for the Greenwich, Conn.-based company.

Dan Ronan | Senior Reporter
August 5, 2022
Business, Technology, Equipment

Nikola Reports $18.1 Million Revenue

Nikola Tre

Nikola Corp. reported its first meaningful revenue and said it’s on track to deliver as many as 500 electric big rigs to customers this year.

Connor D. Wolf | Staff Reporter
August 5, 2022
Business, Technology, Equipment

CVG Q2 Results Slide

CVG display

Diversified supplier Commercial Vehicle Group Inc. reported second-quarter net income and revenue fell, and new pricing began in July.

Roger Gilroy | Senior Reporter
August 5, 2022
Government, Business, Technology, Safety

NHTSA Probes Tesla Crashes That Killed Two Motorcyclists

tesla autopilot

DETROIT — Two crashes involving Teslas apparently running on Autopilot are drawing scrutiny from federal regulators and point to a potential new hazard on U.S. freeways: The partially automated vehicles may not stop for motorcycles.

Tom Krisher | Associated Press
August 5, 2022
Government, Business, Logistics

Labor Chief Sees No Sign of Strike, Lockout in West Coast Port Talks

Marty Walsh

Labor Secretary Marty Walsh said he sees no signs of a strike or a lockout looming in the contract negotiations between dockworkers and employers at some of the nation’s most important ports, even as talks continue without a contract.

August 5, 2022
Government, Business

Democrats Say They’ve Reached Agreement on Economic Package

Kyrsten Sinema

WASHINGTON — Senate Democrats have agreed to eleventh-hour changes to their marquee economic legislation, they announced late Aug. 4, clearing the major impediment to pushing one of President Joe Biden’s paramount election-year priorities through the chamber in coming days.

Alan Fram | Associated Press
August 5, 2022
Government, Business

Employers Added 528,000 Jobs in July

construction workers

WASHINGTON — America’s hiring boom continued last month as employers added a surprising 528,000 jobs despite raging inflation and rising anxiety about a recession.

Paul Wiseman | Associated Press
August 5, 2022
Government

Senate Votes to Overturn Biden Environmental Rule

Sen. Joe Manchin, trailed by reporters on Aug. 4.

WASHINGTON — The Senate on Aug. 4 voted to overturn a Biden administration rule requiring rigorous environmental review of major infrastructure projects such as highways, pipelines and oil wells.

Matthew Daly | Associated Press
August 4, 2022
Business, Technology, Logistics, Breaking News, For-Hire

XPO Names Mario Harik to Succeed Brad Jacobs as CEO

XPO

XPO Logistics Inc. announced that Mario Harik will succeed Brad Jacobs as CEO of XPO and join the board of directors following XPO’s planned spinoff of its tech-enabled brokerage platform.

Roger Gilroy | Senior Reporter
August 4, 2022
Business, Logistics

Apollo-Led Group to Buy Cargo-Hauler Atlas Air for $3.2 Billion

A cargo aircraft operated by Atlas Air at Miami International Airport in Miami.

An investor group led by Apollo Global Management Inc. is acquiring Atlas Air Worldwide Holdings Inc. for about $3.2 billion, expanding its foray into aircraft leasing and charter flying as demand for air cargo cools from pandemic-era highs.

Julie Johnson | Bloomberg News
August 4, 2022
Business, Equipment

July Class 8 Orders Take Expected Downturn

Paccar engine plant in Mississippi

North American Class 8 orders in July, not unexpectedly, crawled to 11,400, the lowest point of the year. ACT Research reported the figure, citing truck makers’ data that was preliminary but largely complete.

Roger Gilroy | Senior Reporter
August 4, 2022
Government, Business, Technology, Safety, Fuel, Logistics

ATA’s Chris Spear Optimistic About Trucking Economy, R.I. Tolling Verdict

Spear

American Trucking Associations President Chris Spear said the trucking industry continues to show resilience despite challenges in the U.S. economy, marked by two straight quarters of negative gross domestic product and interest rate hikes by the U.S. Federal Reserve that aim to slow decades-high...

Dan Ronan | Senior Reporter
August 4, 2022
Government, Business, Safety, Fuel

Senate Debates Freight-Centered Budget Bill

Port of Los Angeles

Legislation that aims to reduce emissions at commercial ports and freight corridors is topping Senate Democrats’ legislative priorities ahead of the upcoming congressional summer recess.

Eugene Mulero | Senior Reporter
August 4, 2022
Government, Business

FMCSA Nominee Robin Hutcheson Awaits Senate Confirmation

Robin Hutcheson

President Joe Biden’s pick to oversee federal trucking regulations is awaiting a confirmation vote in the U.S. Senate.

Eugene Mulero | Senior Reporter
August 4, 2022
Business, Logistics, For-Hire

U.S. Xpress Reports $554M Revenue for Q2

U.S. XPress truck

U.S. Xpress Enterprises posted revenue gains but sluggish earnings during the second quarter of 2022, the company reported Aug. 3.

Connor D. Wolf | Staff Reporter
August 4, 2022
Government, Business, TCA

NOAA Still Expects Active Hurricane Season

A flooded street in Dania Beach, Fla., on June 3.

It’s been a quiet hurricane season so far, but the National Oceanic and Atmospheric Administration says a busy peak is ahead. The agency expects 14 to 20 named storms, with six to 10 developing into hurricanes and three to five of those strengthening into major storms of Category 3 and up.

Alex Harris | Miami Herald
August 4, 2022
Business, Logistics, For-Hire

Werner Enterprises Reports Record for Q2

Werner

Werner Enterprises achieved its eighth consecutive quarter of record earnings per share during the second quarter of 2022, the company reported Aug. 3.

Connor D. Wolf | Staff Reporter
August 4, 2022
Business, Technology, Logistics, For-Hire

Schneider Launches Digital Marketplace for Bulk Shippers

Schneider truck

Schneider National launched a new digital marketplace that aims to give bulk shippers more flexibility and visibility, the carrier announced Aug. 4.

August 4, 2022
Business, Logistics

LTL Carrier Yellow Reports Strong Q2 Earnings

Yellow Corp. truck

Leaders with less-than-truckload carrier Yellow Corp. are touting the company’s fifth successive quarter of financial improvement and strong second-quarter earnings that beat Wall Street expectations.

Dan Ronan | Senior Reporter
August 4, 2022
Business, Technology, Equipment

Allison Cites Resilient Demand in Q2 Revenue Gain

Allison HQ

Allison Transmission Holdings Inc. reported gains in net income and revenue in the second quarter as demand continued.

Roger Gilroy | Senior Reporter
August 4, 2022