Top 100
USA Truck Acquires Davis Transfer Co.
USA Truck announced the purchase of Davis Transfer Co., a family-owned trucking company based in Carnesville, Ga., for $53 million in cash and stock, a deal that signals the start of a more aggressive growth strategy at USA Truck by the company’s new management team.
Amazon, FedEx, UPS Could Gain from Trump Threat to Leave Postal Union
U.S. e-commerce companies including Amazon.com and shippers such as FedEx Corp. and UPS Inc. stand to gain from the Trump administration’s move Oct. 17 to withdraw from an international postal agreement.
Marten Transport Posts Record Results in Third Quarter
Marten Transport Ltd. reported its best quarterly operating results ever, among the first of what is expected to be a string of bullish financial reports from trucking companies in the third quarter.
Heartland Express Returns to Historical Levels of Profitability
Heartland Express Inc. is getting back to its old self. The North Liberty, Iowa-based truckload carrier has been battling to restore its historically rich profit margins after the acquisition of Interstate Distributor Co. in July 2017.
J.B. Hunt Revenue Soars, but Profits Lag in Third Quarter
J.B. Hunt Transport Services reported a big bump in revenue in the third quarter as higher rates boosted the top line for each of its four freight segments. Profits, however, did not keep pace as the company dealt with outstanding legal issues and absorbed start-up costs for several new large dedicated hauling contracts.
UPS Announces Hiring Blitz for Holiday Shipping Season
UPS Inc. plans to hire as many as 40,000 seasonal employees nationwide when it holds a one-day hiring blitz, the package delivery giant announced Oct. 15. UPS will hold 170 job fairs Oct. 19 and hire employees on the spot.
Element Sells Stock, Winds Down Investment in Celadon Joint Venture
Element Fleet Management Corp. has sold 45 million shares of stock to a group of banks and investment firms for $300 million and will use the net proceeds to pay down debt and implement a plan to “meaningfully” improve the company’s financial performance and position the business for growth.
Universal Expands Drayage Business With Purchase of Specialized Rail Service
Universal Logistics Holdings expanded its intermodal drayage business in the western United States with the purchase of Specialized Rail Service Inc. for $12.3 million.
October 15, 2018Teamsters Ratify Five-Year Contract With UPS
The International Brotherhood of Teamsters has ratified a new five-year contract with UPS Inc. for the company’s estimated 255,000 drivers and other employees who handle small freight.
XPO Logistics Set to Acquire 5,000 Robots From Peter Thiel-Backed Startup
XPO Logistics Inc. will buy 5,000 warehouse robots from a Singapore startup backed by billionaire Peter Thiel as part of a deal that makes XPO the only logistics provider to use the technology in North America, the U.K. and eight other European countries.