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 | Kirsch Transportation | $121.9 est |
- | rail intermodal (364), dry van truckload (24,654), refrigerated (2,899), flatbed/heavy haul (21,583) |
2 | ZUUM Transportation | $25.3 est |
$2.0 | rail intermodal (19), LTL (64), dry van truckload (3,385), refrigerated (701), flatbed/heavy haul (2,388) |
3 | FST Logistics | $41.0 est |
$2.6 | rail intermodal (200), LTL (65,000), dry van truckload (2,500), refrigerated (3,000), parcel (260,000) |
4 | US Freight | $30.0 est |
$2.9 | refrigerated (7,500) |
5 | Updike Distribution Logistics | $23.0 est |
$3.0 | LTL (4,000), dry van truckload (20,000), refrigerated (500), flatbed/heavy haul (500) |
6 | Kenco Group | $32.2 est |
$3.2 | air/expedited, rail intermodal, LTL, dry van truckload, flatbed/heavy haul |
7 | Barrett Distribution | $25.0 est |
$3.5 | rail intermodal, LTL, dry van truckload |
8 | Atlantic Logistics | $24.6 est |
$3.6 | dry van truckload (3,748), refrigerated (548), flatbed/heavy haul (18,316) |
9 | Dimerco Express Group | $27.6 est |
$3.7 | air/expedited, LTL, dry van truckload |
10 | RGL Logistics | $28.0 est |
$3.7 | LTL, dry van truckload, refrigerated |
11 | Freedom Trans USA | $29.0 est |
$4.0 | refrigerated (10,500), flatbed/heavy haul (1,200) |
12 | 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) |
13 | Velocity Freight Transport | $37.0 est |
$4.2 | LTL (467), dry van truckload (6,780), refrigerated (11,467), flatbed/heavy haul (4,522) |
14 | Saddle Creek Logistics Services | $32.0 est |
$4.5 | rail intermodal, LTL, dry van truckload, parcel |
15 | RLI Services | $24.3 est |
$4.7 | dry van truckload (3,250), flatbed/heavy haul (9,750) |
16 | KPI Logistics | $43.3 est |
$5.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
17 | Destination Transport | $44.6 est |
$6.0 | LTL (1,345), dry van truckload (10,759), refrigerated (4,035), flatbed/heavy haul (10,759) |
18 | Edge Logistics | $71.0 est |
$6.1 | dry van truckload, refrigerated, bulk/tank |
19 | AMX | $50.0 est |
$6.5 | dry van truckload (26,600), refrigerated (1,400) |
105 | Ruan | $73.1 est |
$6.7 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
21 | RCG Logistics | $28.4 est |
$6.7 | flatbed/heavy haul |
22 | GHC Services | $51.1 est |
$6.8 | LTL, dry van truckload |
23 | Wolf Direct | $52.2 est |
$6.8 | rail intermodal (523), LTL (120), dry van truckload (25,000) |
24 | Crane Worldwide Logistics | $47.3 est |
$6.8 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
25 | AIT Worldwide Logistics | $55.8 est |
$7.4 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, parcel |
26 | 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) |
27 | ZMac Transportation | $39.4 est |
$7.6 | flatbed/heavy haul (15,754) |
28 | ATS Logistics | $41.8 est |
$8.3 | rail intermodal, LTL, dry van truckload |
29 | Longship | $86.0 est |
$9.1 | dry van truckload (4,500), refrigerated (20,000), flatbed/heavy haul (2,700) |
30 | AgForce Transport Services | $67.2 est |
$9.6 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
31 | 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) |
32 | Fifth Wheel Freight | $68.5 est |
$9.7 | LTL, dry van truckload, refrigerated, flatbed/heavy haul |
33 | 3 Rivers Logistics | $65.5 est |
$9.7 | dry van truckload, refrigerated, flatbed/heavy haul, 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) |
35 | Cowan Logistics | $65.0 est |
$10.0 | dry van truckload |
36 | Magnate Worldwide | $67.6 est |
$10.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
37 | Kingsgate Logistics Services | $60.0 est |
$10.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
38 | 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) |
107 | East Coast Transport | $72.0 est |
$10.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
40 | FX Logistics | $48.7 est |
$10.2 | dry van truckload (25,754) |
41 | 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) |
42 | 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) |
43 | Automated Logistics Systems | $53.0 est |
$11.0 | air/expedited, rail intermodal, LTL, dry van truckload, flatbed/heavy haul |
44 | Zipline Logistics | $77.4 est |
$11.1 | rail intermodal (229), LTL (15,386), dry van truckload (34,024), refrigerated (4,953) |
45 | ST Freight | $88.6 est |
$11.2 | LTL (674), dry van truckload (15,830), refrigerated (18,099), flatbed/heavy haul (13,613) |
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) |
47 | Fastmore Logistics | $55.0 est |
$11.5 | air/expedited (10,200), dry van truckload (22,000) |
48 | Amstan Logistics | $106.9 est |
$11.6 | LTL, dry van truckload, refrigerated, flatbed/heavy haul |
49 | Tallgrass Freight Co. | $70.8 est |
$11.7 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated |
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) |
88 | M2 Logistics | $95.0 est |
$12.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank, parcel |
52 | ITG Transportation Services | $66.5 est |
$12.0 | rail intermodal (65,000) |
53 | Ryder Supply Chain Solutions | $84.0 est |
$12.0 | air/expedited, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
54 | Veritiv Logistics Solutions | $125.0 est |
$12.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
98 | Visible Supply Chain Management | $80.0 est |
$12.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
56 | Sunset Pacific Transportation | $39.5 est |
$12.1 | dry van truckload |
57 | Scout Logistics | $109.4 est |
$12.3 | dry van truckload (1,062), refrigerated (12,819) |
58 | Transfix | $100.0 est |
$12.5 | LTL, dry van truckload |
59 | Rockfarm Supply Chain Solutions | $70.5 est |
$12.6 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank, parcel |
60 | Mid America Logistics | $111.9 est |
$12.9 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
61 | FreightCenter | $38.5 est |
$13.0 | LTL, dry van truckload |
62 | 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) |
63 | Amino Transport | $62.0 est |
$13.0 | rail intermodal, LTL, dry van truckload, flatbed/heavy haul, refrigerated |
64 | Bay & Bay Transportation | $97.2 est |
$13.1 | rail intermodal, LTL, dry van truckload, refrigerated |
65 | 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) |
66 | 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) |
67 | 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) |
68 | Syfan Logistics | $84.4 est |
$14.8 | air/expedited, rail intermodal, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank, parcel |
88 | FitzMark | $95.0 est |
$15.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated |
70 | Marten Transport | $96.7 est |
$15.0 | refrigerated |
71 | 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) |
72 | Genpro Inc. | $140.0 est |
$16.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
73 | Odyssey Logistics & Technology | $99.0 est |
$16.0 | rail intermodal, LTL, dry van truckload, flatbed/heavy haul, bulk/tank |
74 | Leonard's Express | $115.0 est |
$16.3 | rail intermodal (1,572), dry van truckload (36,460), refrigerated (106,265) |
75 | TransCorr National Logistics | $112.6 est |
$16.8 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
76 | 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) |
77 | RLS Logistics | $78.0 est |
$17.0 | LTL, dry van truckload, refrigerated |
78 | 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) |
79 | U.S. Xpress Enterprises | $228.8 est |
$19.5 | LTL, dry van truckload, refrigerated, flatbed/heavy |
80 | Capstone Logistics | $159.0 est |
$20.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
74 | Watco Logistics | $115.0 est |
$20.0 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
82 | CRST The Transportation Solution | $118.0 est |
$21.0 | LTL, dry van truckload, refrigerated, flatbed/heavy haul |
83 | Great Plains Transport | $78.8 est |
$21.1 | refrigerated |
84 | Buchanan Hauling & Rigging | $134.6 est |
$22.1 | dry van truckload (40,100), flatbed/heavy haul (30,865) |
85 | 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) |
86 | 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) |
87 | Axle Logistics | $176.5 est |
$22.6 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
88 | Radiant Logistics | $160.0 est |
$23.1 | LTL, dry van truckload, refrigerated |
89 | D&L Transport | $152.1 est |
$23.9 | rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
90 | USA Truck | $192.0 est |
$23.9 | rail intermodal, dry van truckload |
91 | 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) |
92 | 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) |
93 | Ascent Global Logistics | $200.0 est |
$25.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
94 | 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) |
95 | Magellan Transport Logistics | $167.0 est |
$26.0 | air/expedited, rail intermodal, LTL, dry van truckload, flatbed/heavy haul |
96 | 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) |
97 | R2 Logistics | $220.0 est |
$28.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul |
98 | Geodis (North America) | $311.5 est |
$28.5 | air/expedited, rail intermodal (1,866), LTL (653,608), dry van truckload (144,954), refrigerated (7,157), flatbed/heavy haul (382), parcel (17,808,406) |
99 | 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) |
100 | Johanson Transportation Service | $210.2 est |
$30.0 | air/expedited, rail intermodal, LTL, dry van truckload, refrigerated, flatbed/heavy haul, bulk/tank |
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.