Covenant Logistics Group profits tumbled in the first quarter of 2024, with freight rates and volumes taking a toll on earnings as expected.
April 25, 2024Logistics 50 | Freight Brokerage | Dry Storage Warehousing | Refrigerated Warehousing | Dedicated | Ocean Freight | Airfreight
Top Logistics Freight Brokerage 2021
Rank | Company | Gross Revenue (Millions) | Net Revenue (Millions) | Types of Freight |
---|---|---|---|---|
1 | Updike Distribution Logistics | $23.0 est |
$3.0 | LTL (4,000), dry van truckload (20,000), refrigerated (500), flatbed/heavy haul (500) |
2 | RLI Services | $24.3 est |
$4.7 | dry van truckload (3,250), flatbed/heavy haul (9,750) |
3 | Atlantic Logistics | $24.6 est |
$3.6 | dry van truckload (3,748), refrigerated (548), flatbed/heavy haul (18,316) |
4 | Barrett Distribution | $25.0 est |
$3.5 | rail intermodal, LTL, dry van truckload |
5 | Averitt Express | $25.2 est |
$4.0 | air/expedited (779), rail intermodal (3,114), LTL (36,931), dry van truckload (30,591), refrigerated (167), flatbed/heavy haul (429), parcel (54) |
6 | ZUUM Transportation | $25.3 est |
$2.0 | rail intermodal (19), LTL (64), dry van truckload (3,385), refrigerated (701), flatbed/heavy haul (2,388) |
7 | Dimerco Express Group | $27.6 est |
$3.7 | air/expedited, LTL, dry van truckload |
8 | RGL Logistics | $28.0 est |
$3.7 | LTL, dry van truckload, refrigerated |
9 | RCG Logistics | $28.4 est |
$6.7 | flatbed/heavy haul |
10 | Freedom Trans USA | $29.0 est |
$4.0 | refrigerated (10,500), flatbed/heavy haul (1,200) |
11 | US Freight | $30.0 est |
$2.9 | refrigerated (7,500) |
12 | Saddle Creek Logistics Services | $32.0 est |
$4.5 | rail intermodal, LTL, dry van truckload, parcel |
13 | Kenco Group | $32.2 est |
$3.2 | air/expedited, rail intermodal, LTL, dry van truckload, flatbed/heavy haul |
14 | Velocity Freight Transport | $37.0 est |
$4.2 | LTL (467), dry van truckload (6,780), refrigerated (11,467), flatbed/heavy haul (4,522) |
15 | FreightCenter | $38.5 est |
$13.0 | LTL, dry van truckload |
16 | ZMac Transportation | $39.4 est |
$7.6 | flatbed/heavy haul (15,754) |
17 | Sunset Pacific Transportation | $39.5 est |
$12.1 | dry van truckload |
18 | FST Logistics | $41.0 est |
$2.6 | rail intermodal (200), LTL (65,000), dry van truckload (2,500), refrigerated (3,000), parcel (260,000) |
19 | ATS Logistics | $41.8 est |
$8.3 | rail intermodal, LTL, dry van truckload |
20 | KPI Logistics | $43.3 est |
$5.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
21 | VP Logistics | $44.0 est |
$7.4 | air/expedited (3,000), rail intermodal (100), LTL (8,000), dry van truckload (30,000), refrigerated (1,000), flatbed/heavy haul (1,000) |
22 | Destination Transport | $44.6 est |
$6.0 | LTL (1,345), dry van truckload (10,759), refrigerated (4,035), flatbed/heavy haul (10,759) |
23 | Crane Worldwide Logistics | $47.3 est |
$6.8 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
24 | FX Logistics | $48.7 est |
$10.2 | dry van truckload (25,754) |
25 | AMX | $50.0 est |
$6.5 | dry van truckload (26,600), refrigerated (1,400) |
26 | GHC Services | $51.1 est |
$6.8 | LTL, dry van truckload |
27 | Wolf Direct | $52.2 est |
$6.8 | rail intermodal (523), LTL (120), dry van truckload (25,000) |
28 | Automated Logistics Systems | $53.0 est |
$11.0 | air/expedited, rail intermodal, LTL, dry van truckload, flatbed/heavy haul |
29 | American Group | $54.2 est |
$9.6 | air/expedited (35), rail intermodal (836), LTL (44,885), dry van truckload (10,246), refrigerated (2,562), flatbed/heavy haul (2,001), bulk/tank (4), parcel (4) |
30 | Fastmore Logistics | $55.0 est |
$11.5 | air/expedited (10,200), dry van truckload (22,000) |
31 | AIT Worldwide Logistics | $55.8 est |
$7.4 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, parcel |
32 | Kingsgate Logistics Services | $60.0 est |
$10.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
33 | Amino Transport | $62.0 est |
$13.0 | rail intermodal, LTL, dry van truckload, flatbed/heavy haul, refrigerated |
34 | Cowan Logistics | $65.0 est |
$10.0 | dry van truckload |
35 | 3 Rivers Logistics | $65.5 est |
$9.7 | dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
36 | ITG Transportation Services | $66.5 est |
$12.0 | rail intermodal (65,000) |
37 | AgForce Transport Services | $67.2 est |
$9.6 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
38 | Magnate Worldwide | $67.6 est |
$10.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
39 | Fifth Wheel Freight | $68.5 est |
$9.7 | LTL, dry van truckload, refrigerated, flatbed/heavy haul |
40 | Rockfarm Supply Chain Solutions | $70.5 est |
$12.6 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank, parcel |
41 | Tallgrass Freight Co. | $70.8 est |
$11.7 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated |
42 | Edge Logistics | $71.0 est |
$6.1 | dry van truckload, refrigerated, bulk/tank |
107 | Ease Logistics | $72.0 est |
$9.9 | rail intermodal (1), LTL (9), dry van truckload (31,510), refrigerated (7,519), flatbed/heavy haul (278) |
107 | East Coast Transport | $72.0 est |
$10.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
105 | Becker Logistics | $73.1 est |
$11.9 | rail intermodal (1,189), LTL (5,474), dry van truckload (39,466), refrigerated (6,482), flatbed/heavy haul (827) |
105 | Ruan | $73.1 est |
$6.7 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
47 | Transportation One | $75.5 est |
$10.8 | rail intermodal (1), LTL (1,135), dry van truckload (28,321), refrigerated (6,425), flatbed/heavy haul (49) |
48 | Nationwide Logistics | $77.1 est |
$10.5 | air/expedited (5), rail intermodal (142), LTL (552), dry van truckload (13,324), refrigerated (5,662), flatbed/heavy haul (23,251), bulk/tank (69), parcel (4) |
49 | Zipline Logistics | $77.4 est |
$11.1 | rail intermodal (229), LTL (15,386), dry van truckload (34,024), refrigerated (4,953) |
50 | RLS Logistics | $78.0 est |
$17.0 | LTL, dry van truckload, refrigerated |
51 | Great Plains Transport | $78.8 est |
$21.1 | refrigerated |
98 | Visible Supply Chain Management | $80.0 est |
$12.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
98 | Legacy Supply Chain Services | $80.0 est |
$11.5 | rail intermodal (2,500), LTL (5,000), dry van truckload (9,500), refrigerated (3,700), parcel (1,000,000) |
54 | C.L. Services | $82.0 est |
$10.0 | air/expedited (20), rail intermodal (2,000), LTL (2,500), dry van truckload (35,000), refrigerated (25,000), flatbed/heavy haul (8,000) |
55 | Ryder Supply Chain Solutions | $84.0 est |
$12.0 | air/expedited, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
56 | Syfan Logistics | $84.4 est |
$14.8 | air/expedited, rail intermodal, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank, parcel |
57 | Longship | $86.0 est |
$9.1 | dry van truckload (4,500), refrigerated (20,000), flatbed/heavy haul (2,700) |
58 | ST Freight | $88.6 est |
$11.2 | LTL (674), dry van truckload (15,830), refrigerated (18,099), flatbed/heavy haul (13,613) |
59 | Cardinal Logistics | $89.5 est |
$13.8 | air/expedited (1,500), rail intermodal (1,500), LTL (70,000), dry van truckload (17,500), refrigerated (12,000), flatbed/heavy haul (7,500) |
60 | Trident Transport | $91.0 est |
$13.6 | air/expedited (33), rail intermodal (52), LTL (6,807), dry van truckload (36,752), refrigerated (3,659), flatbed/heavy haul (22,548) |
61 | Beemac Inc. | $94.0 est |
$13.0 | air/expedited (21), rail intermodal (60), LTL (3,154), dry van truckload (4,530), refrigerated (1,463), flatbed/heavy haul (93,073), bulk/tank (1,285) |
88 | FitzMark | $95.0 est |
$15.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated |
88 | M2 Logistics | $95.0 est |
$12.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank, parcel |
64 | SPI Logistics | $95.3 est |
$15.1 | rail intermodal (2,730), LTL (8,452), dry van truckload (12,675), refrigerated (15,124), flatbed/heavy haul (16,770) |
65 | Marten Transport | $96.7 est |
$15.0 | refrigerated |
66 | Bay & Bay Transportation | $97.2 est |
$13.1 | rail intermodal, LTL, dry van truckload, refrigerated |
67 | Odyssey Logistics & Technology | $99.0 est |
$16.0 | rail intermodal, LTL, dry van truckload, flatbed/heavy haul, bulk/tank |
68 | ODW Logistics | $99.7 est |
$16.9 | air/expedited (6,500), rail intermodal (1,400), LTL (130,000), dry van truckload (78,000), refrigerated (14,000), flatbed/heavy haul (7,400), parcel (730,000) |
69 | Transfix | $100.0 est |
$12.5 | LTL, dry van truckload |
70 | ISG Transportation | $102.9 est |
$17.9 | air/expedited (50), rail intermodal (890), LTL (23,480), dry van truckload (29,800), refrigerated (5,260), flatbed/heavy haul (4,675), bulk/tank (240) |
71 | Amstan Logistics | $106.9 est |
$11.6 | LTL, dry van truckload, refrigerated, flatbed/heavy haul |
72 | Scout Logistics | $109.4 est |
$12.3 | dry van truckload (1,062), refrigerated (12,819) |
73 | Mid America Logistics | $111.9 est |
$12.9 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
74 | TransCorr National Logistics | $112.6 est |
$16.8 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
75 | Dupré Logistics | $114.7 est |
$13.8 | rail intermodal (1,552), LTL (551), dry van truckload (56,480), refrigerated (2,449), flatbed/heavy haul (2,570), bulk/tank (194) |
74 | Watco Logistics | $115.0 est |
$20.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
74 | Leonard's Express | $115.0 est |
$16.3 | rail intermodal (1,572), dry van truckload (36,460), refrigerated (106,265) |
78 | CRST The Transportation Solution | $118.0 est |
$21.0 | LTL, dry van truckload, refrigerated, flatbed/heavy haul |
79 | Kirsch Transportation | $121.9 est |
- | rail intermodal (364), dry van truckload (24,654), refrigerated (2,899), flatbed/heavy haul (21,583) |
80 | Veritiv Logistics Solutions | $125.0 est |
$12.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
81 | Buchanan Hauling & Rigging | $134.6 est |
$22.1 | dry van truckload (40,100), flatbed/heavy haul (30,865) |
82 | Genpro Inc. | $140.0 est |
$16.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
83 | D&L Transport | $152.1 est |
$23.9 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
84 | US Logistics | $153.5 est |
$22.4 | air/expedited (3), rail intermodal (1,799), LTL (2,252), dry van truckload (31,908), refrigerated (25,370), flatbed/heavy haul (29,627), bulk/tank (3) |
85 | Capstone Logistics | $159.0 est |
$20.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
86 | RPM Freight Systems | $159.5 est |
$25.0 | air/expedited (577), rail intermodal (250), LTL (7,616), dry van truckload (26,824), refrigerated (567), flatbed/heavy haul (3,152), bulk/tank (146), auto hauling (133,205) |
87 | Radiant Logistics | $160.0 est |
$23.1 | LTL, dry van truckload, refrigerated |
88 | Magellan Transport Logistics | $167.0 est |
$26.0 | air/expedited, rail intermodal, LTL, dry van truckload, flatbed/heavy haul |
89 | Logistics Plus | $168.0 est |
$25.0 | air/expedited (5,000), rail intermodal (150), LTL (130,000), dry van truckload (26,000), refrigerated (700), flatbed/heavy haul (2,000), bulk/tank (300), parcel (2,000) |
90 | Axle Logistics | $176.5 est |
$22.6 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
91 | Covenant Logistics Group | $177.6 est |
$22.5 | air/expedited (310), rail intermodal (119), LTL (47,630), dry van truckload (371,238), flatbed/heavy haul (14,000), parcel (19,767) |
92 | Armada Sunset Holdings | $186.0 est |
$26.0 | air/expedited (6,517), rail intermodal (81), LTL (58,651), dry van truckload (61,034), refrigerated (10,702), flatbed/heavy haul (7,772), bulk/tank (2,030) |
93 | USA Truck | $192.0 est |
$23.9 | rail intermodal, dry van truckload |
94 | Patterson Cos. | $195.0 est |
$33.0 | LTL, dry van truckload, refrigerated, flatbed/heavy haul |
95 | Day & Ross | $198.0 est |
$34.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
96 | Ascent Global Logistics | $200.0 est |
$25.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
97 | Johanson Transportation Service | $210.2 est |
$30.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
98 | ROAR Logistics | $214.0 est |
$30.0 | air/expedited (500), rail intermodal (45,000), LTL (1,500), dry van truckload (60,000), refrigerated (5,000), flatbed/heavy haul (3,500) |
99 | Circle Logistics | $215.0 est |
$37.0 | air/expedited, LTL, dry van truckload, flatbed/heavy haul |
100 | Triple T Transport | $217.0 est |
$25.9 | rail intermodal (106), LTL (1,995), dry van truckload (25,611), refrigerated (69,284), flatbed/heavy haul (341) |
Top 50 Logistics Companies provide logistics services, including freight brokerage, freight forwarding, warehousing and dedicated contract carriage in North America and are ranked on the basis of annual gross revenue. Some sector rankings may have been updated since their print publication. To be included in the Top 50 list, please send contact information to tteditor@ttnews.com. We will contact you via phone or e-mail to get information about your company prior to publication of the next Top 50 list.
Extras
On the Bubble
Covenant Q1 Profit Slumps 76% on Freight Rate Weakness
Amazon Web Services to Build Data Center in Northern Indiana
NEW CARLISLE, Ind. — Amazon Web Services plans to invest $11 billion to build a data center in northern Indiana that will create at least 1,000 new jobs, state and company officials announced.
April 25, 2024Union Pacific’s First-Quarter Profit Creeps Up 1%
OMAHA, Neb. — Union Pacific’s first-quarter profit crept 1% higher as the railroad tightened up on expenses — particularly its fuel bill — even though it delivered slightly less freight.
Tonnage Numbers Hit 13th Month of Declines
Truck tonnage reached 13 consecutive months of year-over-year declines after a slight decrease in March, American Trucking Associations reported April 23.
DOT Grant Program Focuses on Commercial Ports
The U.S. Department of Transportation announced grants for ports and supply chain corridors as part of the White House’s strategy for advancing a zero-emission freight landscape.
Forward Air Hires Ex-Ceva Logistics Executive Stewart as CEO
Shawn Stewart is set to join Forward Air as CEO, effective April 28, the carrier said April 23. He also will join the asset-light transportation services group’s board of directors.
Norfolk Southern Reports Lower Earnings After Settlement
Norfolk Southern’s first-quarter earnings report gave the railroad the opportunity to publicly defend CEO Alan Shaw’s strategy again before investors decide on May 9 whether to back him.
Truck Body Repair Collaborations Help Streamline Planning
Repairing the body on a Class 8 truck is a process of handling moving parts while performing a proper assessment and eventually restoring the unit to a safe, roadworthy state as quickly as possible.
Baltimore Port to Open Deeper Channel
Officials plan to open a deeper channel for commercial ships to access the Port of Baltimore starting April 25, marking a significant step toward reopening the major maritime shipping hub.
UPS Reports 41% Earnings Drop During Q1
UPS Inc. experienced a 41.3% drop in earnings during the first quarter of 2024, the company reported April 23.