Latest news with #LTL
Yahoo
9 hours ago
- Business
- Yahoo
First look: Most metrics at TFI are down from 2Q 2024 but Bedard touts higher margin
The earnings report at diversified carrier TFI International (NYSE: TFII) beat Wall Street estimates on the bottom line, but virtually every operational metric in its key LTL division, including the U.S. operations that house the former UPS Freight acquisition, was lower compared to the second quarter of 2024. But in the first moments of the company's earning call with analysts, CEO Alain Bedard noted 'strong' free cash flow figures and 'solid margin performance.' He also cited sequential improvement in operating ratio at the LTL operations. And Wall Street liked what it heard, with post-close trading boosting TFI stock by about 6.25%. The operating ratio (OR) at U.S. LTL in the second quarter ballooned to 94% from 90.8% in the corresponding quarter of 2024. Revenue per hundredweight excluding fuel fell just under 2% to $331.18. In a prepared statement released with the earnings, TFI noted the one bright spot in the U.S. LTL operations, an increase in weight per shipment of just over 5%. But the rest of the countdown of various measures was all negative: a 10.1% drop in the number of shipments and a 5.5% decline in the total level of shipments as measured in tons. Canadian LTL, which has been the example that TFI management has said it wants to emulate in the U.S., suffered a worse decline in its OR, dropping 500 bps to 80.6%. Revenue per hundredweight excluding fuel was down 3.56%. The truckload operations at TFI suffered the same sort of weak quarter that has been showing up in other earnings reports from truckload carriers. Revenue before fuel was down about 3.4%, adjusted EBITDA was down a little more, but revenue per truck per week excluding fuel was down only a small amount. The adjusted OR in truckload declined 110 bps to 90.1%. TFI's overall adjusted net income of $1.34 per share was down from $1.71 in the corresponding quarter a year earlier. However, according to SeekingAlpha, it was still 11 cents better than forecasts. Total revenue of $1.8 billion was down 9.4% from a year earlier. It was also $20 million less than the Wall Street consensus, according to SeekingAlpha. By the close of trading Monday, TFI stock was down about 41.3% in the last 12 months before the post-market increase. , More articles by John Kingston Yet another broker liability case, this time in the Fifth Circuit, adds to the growing mix Ryder's used vehicle numbers show a bullish corner: tractor sales Five takeaways from the State of Freight for July: What earnings and the indices are saying about the market The post First look: Most metrics at TFI are down from 2Q 2024 but Bedard touts higher margin appeared first on FreightWaves.
Yahoo
4 days ago
- Business
- Yahoo
Saia's Q2 results were better than feared, stock up 13%
Less-than-truckload carrier Saia reported a significant step up in financial results during the second quarter, following a first-quarter miss that led to a 30% drop in shares on the day of the report. Tariff noise tanked demand in the first quarter, exacerbating incremental costs incurred by the company to open and operate new terminals. Saia (NASDAQ: SAIA) reported second-quarter earnings per share of $2.67 ahead of the market open on Friday. The result was 28 cents ahead of consensus and 81 cents better than the first quarter. (The EPS result was $1.16 lower year over year.) A combination of higher interest expense (net debt used to fund terminal acquisitions increased $125 million y/y) and a higher tax rate were a 10-cent drag on the quarter. The better-than-expected result pushed Saia's shares 12.9% higher in pre-market trading on Friday. The Johns Creek, Georgia-based carrier reported a slight y/y dip in revenue to $817 million, but the result was $9 million ahead of analysts' expectations. Tonnage increased 1.1% y/y but revenue per hundredweight, or yield, was down 2.1% y/y (1.2% lower excluding fuel surcharges). The tonnage increase resulted from a 2.8% decline in shipments, which was offset by a 4% increase in weight per shipment. Higher shipment weights were a drag on the yield metric in the period and were only partially offset by a 0.6% increase in length of haul. 'I was pleased with our team's ability to focus on what was within our control in the second quarter,' said Saia President and CEO Fritz Holzgrefe in a news release. 'Our continued emphasis on taking care of the customer in all of our markets, mix management, and managing costs to adjust to current volume trends demonstrated our ability to navigate a dynamic backdrop.' Saia reported an 87.8% operating ratio (inverse of operating margin), which was 450 basis points worse y/y, but 330 bps better than the first quarter. The result was also 120 bps better than management's guidance. Cost per shipment was up 7.7% but revenue per shipment increased just 1.8%. Saia will host a conference call at 10 a.m. EDT on Friday to discuss second-quarter results. More FreightWaves articles by Todd Maiden: Heartland Express books another loss in Q2 Knight-Swift's belt tightening offsets soft demand FedEx Freight gives shippers 'more time' to adjust to new LTL class rules The post Saia's Q2 results were better than feared, stock up 13% appeared first on FreightWaves. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
19-07-2025
- Business
- Yahoo
A. Duie Pyle to bolster Ohio service with new terminals
This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. A transportation management system quirk is leading A. Duie Pyle to up its competitive offerings in Ohio. The West Chester, Pennsylvania-based LTL provider is aiming to aggressively expand its service in the Buckeye State after noticing how route planning software caused customers to go elsewhere, the company's LTL solutions COO, John Luciani, said in a June interview. A. Duie Pyle had been partnering with Dayton Freight Lines to provide two-day service in Ohio. Still, with more opportunities available for freight, the carrier is increasing density to support faster, overnight deliveries. The carrier's network currently includes a site near Cleveland in the city of Streetsboro, according to its website. Now, a leased terminal from ABF Freight in Columbus and a former Yellow Corp. terminal in Bowling Green, which was acquired by ADP, will both open July 21, Luciani said. Bowling Green improves service to Toledo. 'Our focus is going to be on those markets, back into our core area in the Northeast,' Luciani said. 'So Columbus to New Jersey. Columbus to metropolitan New York, which nobody is doing.' The carrier is also looking for a service center in Cincinnati to add to the mix, Luciani said. The company plans to secure that by the end of the year. 'We have plans once we get up and running to stretch the transit to get into New York City overnight from Columbus, Cincinnati and Toledo,' he said. 'We're going to be aggressive.' Recommended Reading A. Duie Pyle buys 2 more Yellow terminals for $4.5M
Yahoo
18-07-2025
- Business
- Yahoo
New LTL freight class rules take effect on Saturday
Major changes to the way less-than-truckload freight is categorized will take effect on Saturday following a rework to the National Motor Freight Traffic Association's (NMFTA) decades-old classification system. After many months of internal alterations, public listening sessions and feedback from industry participants, the nonprofit trade group has rolled out a simplified version of its 90-year-old National Motor Freight Classification (NMFC) system. The new guidelines are designed to move the LTL industry toward a density-based approach to classifying freight that more accurately reflects the actual cost of shipping goods. 'The LTL carriers want the full impact of these NMFC changes to be felt, both by them and shippers,' said Scooter Sayers, director of business development (LTL Solutions), at Cubiscan, a maker of freight dimensioners, in an interview. The new coding system will still evaluate freight on four characteristics — density, handling, stowability and liability. However, it will now prioritize density when there are no special concerns with the other three. Under the new rules, the number of density-based rating subprovisions has expanded from 11 to 13. Subprovision 11 has been amended to include densities ranging from 30 to less than 35 pounds per cubic foot (assigned class 60). Sub 12 ranges from 35 to less than 50 pounds per cubic foot (class 55), and Sub 13 covers densities greater than 50 pounds per cubic foot (class 50). 'Freight-all-kinds programs limit the impact, so expect LTL carriers to push even harder to eliminate FAK programs. If shippers want to keep their FAK program, they are going to pay for it,' Sayers continued. The updates are substantial, with roughly 2,000 items being carved out from a list of 5,000 that were under review. 'These changes on July 19 to convert 2,000 NMFC items to a 13-sub table classed by density is just the start,' Sayers said. 'More is coming, and we can expect substantially all commodities will have class at least partly determined by density. It is, after all, the number one cost driver for carriers.' The overhaul aims to make the classification system more user-friendly, reduce costly freight reclassifications and provide more accurate freight rates upfront. The shift aligns pricing with the primary cost drivers for LTL carriers: distance, time and space. For shippers, the changes promise significant benefits, including a simplified classification process, more predictable billing and greater cost efficiency. However, realizing these benefits requires preparation. Experts have been advising shippers for months to audit their commodity classes and ensure they are tracking accurate dimensions, weight and density. Optimizing packaging to minimize wasted space will become more critical, as excess volume can result in a higher class and increased costs. The organization also revamped ClassIT+, an online tool that helps shippers, carriers and 3PLs properly identify freight. Changes include more expansive APIs, an improved search function and faster responses. Additional updates to the NMFC are expected in the coming months and years. 'The winners on the shipper side are going to be those who embrace the digital capture of dimensions, weight and photos at the handling unit level,' Sayers said. ' If carriers have to pick between shippers who provide this and shippers who don't, who are they going to pick? 'LTL carriers want their shippers to provide them with accurate data on the BOL, and will both reward and favor those shippers in the long run.' More FreightWaves articles by Todd Maiden: ArcBest CEO Judy McReynolds to retire J.B. Hunt still waiting for market to turn LTL pricing index to hit record high in Q3 The post New LTL freight class rules take effect on Saturday appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-07-2025
- Automotive
- Yahoo
A look under the hood: Breaking down two real Shared Truckloads
Shippers often face a false choice between the speed and security of truckload and the lower cost of LTL. Shared Truckload (STL) offers a third option, and it is gaining traction as shippers look for ways to reduce costs without sacrificing reliability. Flock Freight's FlockDirect® service enables STL at scale by pooling multiple shipments from different companies onto one truck—without terminal stops or transloading. With Shared Truckload, shippers pay only for the space they need and carriers avoid running partially empty. This naturally leads to fewer trucks on the road and fewer carbon emissions. It's a clear alignment of operational efficiency, financial gain and environmental benefit. Flock has staked its claim as the largest Shared Truckload brokerage in the U.S. by building the technology that makes this model work at scale. Its approach centers on automating the complex process of matching shipments into efficient Shared Truckloads. What used to be a manual, messy effort now happens in seconds. Rethinking capacity: supply-side optimization For carriers, the value of STL isn't just in the initial route, it's in how remaining trailer space is managed across the haul. Flock's STL AddOnsTM product enables carriers to easily top off trucks with compatible freight during a Flock route, turning underutilized space into revenue. This shift in capacity strategy—moving from spot-matching to in-transit optimization—is where STL's potential really opens up. STL AddOns isn't just about efficiency, it also reduces friction. Carriers get clear instructions, smooth transfers and fewer service disruptions for multi-stop loads, making the STL experience more predictable and profitable. Scaling STL with AI What enables this level of optimization is Flock's AI-powered pooling engine. It doesn't just match loads, it evaluates trillions of possible combinations based on origin, destination, timing, equipment, service levels and more. The result is a living, growing network that gets more efficient with every new shipment. In contrast, manual STL efforts often involve matching in spreadsheets and with limited freight density, making service less consistent and savings hard to count on. With slow quoting, unpredictable ETAs and too many touchpoints, it's clear why 96% of shippers say they're unhappy with their current multi-stop solutions. Flock's tech-enabled model solves these challenges by automating what human brokers can't reasonably scale, especially when precision and timing are critical. STL in action: Two route examples Let's break down two real STL routes to see how this works on the ground. Pool Example 1: Southern California → Georgia → Florida Three Flock shippers—each operating independently—were pooled into a single, optimized Shared Truckload. The carrier initially booked the SoCal-to-Georgia leg, then received alerts about two AddOn load opportunities that aligned with the route and delivery windows. By combining all three shipments: The trailer ran at 100% capacity All shippers saved over 45% compared to the truckload rate The carrier earned 33.6% more than the truckload rate Because FlockDirect® shipments are load-to-ride, each shipment was loaded in a first-in, last-out sequence. Freight stayed on the truck from pickup to delivery, receiving truckload-level service. Pool Example 2: New Jersey → Virginia → Colorado → Utah This load began with two shipments pooled into a Shared Truckload. When a third compatible shipment was booked by another Flock shipper, STL AddOns technology notified the carrier in real time, adding a third shipment to the STL. The STL AddOn significantly increased carrier earnings while every shipper still saved on costs. By combining these three shipments: The trailer ran 100% utilized Carrier earnings rose 39.4% above TL rates Shippers still saw 20–50% cost savings What made this example stand out: All three deliveries had appointment windows, which the AI accounted for during optimization. The result was a time-sensitive route delivered on schedule—without sacrificing efficiency or profitability. Shared Truckload's growing role in freight strategy More shippers are rethinking traditional multi-stop and partial-load strategies. They want better service, simpler planning, and lower emissions. Tech-enabled STL offers a middle ground that's increasingly hard to ignore. Shippers avoid the unpredictability of LTL while still controlling costs. Carriers gain access to a new, unique way to maximize revenue per mile. The planet wins too, as fewer trucks run more fully and efficiently. Shared Truckload is becoming a key lever in modern freight planning—especially when it's powered by tech that enables the model to rapidly scale. As the industry continues to chase smarter, leaner logistics, mode options like STL will move from innovative to indispensable. Click here to learn more about Flock Freight. The post A look under the hood: Breaking down two real Shared Truckloads appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
