Business Archives

NationaLease salutes top performers at 2024 Canadian Leadership Summit

Dana Guthrie - November 14, 2024

MONTREAL, QC — NationaLease, one of the largest full-service truck leasing organizations in North America, recently held its 2024 Canadian Leadership Summit in Montreal where it honored Jérôme Léonard and VEL NationaLease. “The exclusive event, dedicated to NationaLease Canadian members and suppliers, offered a deep dive into thought-provoking Canadian-specific leasing and operations topics, including regulatory changes, infrastructure and purchasing best practices,” NationaLease said in a media release. During the two-day event, two prestigious awards were presented to honor inspiring and remarkable achievements within the truck leasing organization. Jérôme Léonard, senior vice president of Brossard NationaLease, was recognized for his outstanding service as he completed his term as a NationaLease board member. Dean Vicha, president of NationaLease, presented the award, acknowledging Léonard’s dedication and lasting contributions to both the organization and truck leasing industry. VEL NationaLease was honored with the distinguished Canadian MVP Award, celebrating their commitment to industry excellence, innovative spirit and business resilience. Jane Clark, senior vice president of Operations at NationaLease, presented the award to VEL NationaLease representatives Kevin Hoyt, Peter Cook, and Murray Dickinson. According to the release, during the Canadian Leadership Summit, informative sessions highlighted the importance of innovation, collaboration, and dedication to advancing the truck leasing industry across Canada. Discussions were held around such topics as EPA standards, battery electric vehicles (BEVs), cybersecurity strategies, and the Canadian economy.

Trucking trailblazer: Tracy Rushing named WIT’s 2024 Influential Woman in Trucking

Dana Guthrie - November 14, 2024

DALLAS, Texas — Tracy Rushing, executive director of Safety and Recruiting, RE Garrison Trucking Inc. has been named the 2024 Influential Woman in Trucking by the Women in Trucking Association (WIT) during the WIT Accelerate! Conference and Expo in Dallas, Texas. “Women In Trucking is honored each year to name a leader in our industry who demonstrates remarkable grit, talent and passion to advance opportunities for women in trucking,” said Jennifer Hedrick, WIT president and CEO. “We’re thrilled to give this honor to Tracy Rushing this year. Tracy’s commitment to this profession and desire to mentor future leaders is an example for all of us.” The award, sponsored by Daimler Truck North America (DTNA), recognizes the achievements of female role models and trailblazers in the trucking industry. “I’m incredibly grateful to be named 2024 Influential Woman in Trucking but this honor isn’t mine alone. It belongs to all the women who have paved the way and continue to push our industry forward,” Rushing said. “I’m just proud to be a part of this community of strong, dedicated women who work tirelessly to keep America moving. We’re all in this together, and I’m thankful every day that I get to be a trucker.” According to a WIT press release, the announcement came after the panel discussion “Becoming an Influential Woman in Trucking.” Panelists consisted of the 2024 award finalists: Lisa Gonnerman, vice president of Enterprise Services, TA Dedicated and Sheri Aaberg, COO, Transport Enterprise Leasing. The panel was facilitated by two 2024 WIT Top Women to Watch in Transportation: Kelley Martin, director of aftermarket, and Heather Callahan, director of logistics, both with DTNA. The conference session concluded with Rushing sharing HERstory with nearly 2,000 attendees. “Rushing began her career 30 years ago in a scale house and grew into leadership roles through perseverance, mentorship and a strong work ethic,” WIT said in the release. “She shared personal stories including her early years in trucking and the importance of relationships in the industry. She left the audience encouraged to find their ‘why’ in trucking and strive to leave a legacy of support, inclusion and opportunity for future generations of trucking professionals.” Rushing is an active member of the Society of Human Resources Management (SHRM), Truckload Carriers Associations (TCA) and the Alabama Trucking Association’s Safety & Maintenance Management Council (SMMC). She serves on the Risk Management Advisory Committee of the ATA Comp Fund (RMAC), the Women In Trucking Membership Committee and is the chair of the Truckload Carriers Association’s (TCA) Safety, Recruiting and Retention Committee. “This year, Daimler Truck North America attended the WIT Accelerate! Conference & Expo with the theme ‘one of many,’” Martin said. “It’s about being part of a larger community, not just the only one or the best one, but one of many. The finalists for the Influential Woman in Trucking Award embody this vision. Through their dedication and hard work, they are paving the way for women to excel and thrive in our industry. Additionally, I’d like to congratulate Tracy Rushing for being named the 2024 Influential Woman in Trucking. Her outstanding career and unwavering passion have made a lasting impact on the trucking industry and beyond and she is truly deserving of this prestigious honor.”

RXO on track with ahead-of-schedule Coyote Integration and complementary services momentum

Dana Guthrie - November 14, 2024

CHARLOTTE, N.C. — RXO Q3 results show positive signs despite soft freight market. “In the third quarter, our focus on execution enabled us to achieve a solid 13.7% gross margin in our Brokerage business, despite the prolonged soft freight market,” said Drew Wilkerson, chief executive officer of RXO. “Momentum continued within our complementary services. In Managed Transportation, we secured more than $300 million in new business and continue to have a strong sales pipeline of more than $1.3 billion in freight under management. In Last Mile, we grew stops by 11% year-over-year, an acceleration from our second-quarter growth rate.” Companywide Results According to a company press release, RXO’s revenue was $1.04 billion in the third quarter, compared to $976 million in the third quarter of 2023. Gross margin was 17.3%, compared to 17.7% in the third quarter of 2023. The company reported a third-quarter 2024 GAAP net loss of $243 million, compared to a net loss of $1 million in the third quarter of 2023. The third-quarter 2024 GAAP net loss included $248 million in transaction, integration, restructuring and other costs. Adjusted net income in the quarter was $7 million, compared to $6 million in the third quarter of 2023. Adjusted EBITDA was $33 million, compared to $26 million in the third quarter of 2023. Adjusted EBITDA margin was 3.2%, compared to 2.7% in the third quarter of 2023. “We remain focused strategically investing in our business while controlling costs,” Wilkerson said. “Closing the Coyote acquisition in the third quarter makes RXO the third-largest freight broker in North America. Our larger scale enables us to provide customers with more capacity and carriers with more freight. The integration is progressing nicely and we now expect to achieve at least $40 million in cost synergies. The additional savings will be primarily driven by integrating technology platforms and reducing vendor spend. We will continue to provide our customers with superior service, comprehensive solutions, continuous innovation and deep relationships.” Transaction, integration, restructuring and other costs, and amortization of intangibles, impacted GAAP earnings per share by $1.86, net of tax. For the third quarter, RXO reported a GAAP diluted loss per share of $1.81. Adjusted diluted earnings per share was $0.05. These results include the impact of RXO’s acquisition of Coyote Logistics, which was completed on Sept. 16. Balance Sheet Update The combined company’s leverage ratio for the last twelve months (LTM) decreased by more than 40%, from 3.0 times to 1.6 times LTM adjusted EBITDA, as a result of the equity financings associated with the acquisition of Coyote Logistics. Brokerage Volume in RXO’s legacy Brokerage business, which excludes the impact of Coyote Logistics, declined by 5% year-over-year in the third quarter. Less-than-truckload volume increased by 13% but was offset by a 9% decline in full truckload volume. Legacy RXO full truckload contract volume has grown by more than 30% since the third quarter of 2021. Consolidated brokerage gross margin was 13.7% in the third quarter. Legacy RXO brokerage gross margin was 13.8% in the third quarter. Complementary Services RXO’s complementary services gross margin was 21.5% for the quarter, up 150 basis points year-over year. Managed Transportation was awarded more than $300 million in new freight under management in the quarter. The business has more than $1.3 billion of new freight under management in its sales pipeline. The number of Last Mile stops grew by 11% year-over-year. Fourth-Quarter Outlook RXO expects fourth-quarter 2024 adjusted EBITDA to be between $40 million and $45 million. The company expects fourth-quarter 2024 Brokerage gross margin to be between 12% and 14%.

Sunset Transportation wins prestigious award for women-friendly workplace

Dana Guthrie - November 13, 2024

ST. LOUIS, Mo. — Sunset Transportation (Sunset), a third-party logistics (3PL) provider has been recognized as a 2024 “Top Company for Women to Work in Transportation” by Women in Trucking Association’s (WIT) official magazine, “Redefining the Road.” “As a woman in this industry, a mom to daughters, and a second-generation CEO of a privately held, family-founded organization where leadership truly has the influence to shape the culture of an organization, there is nothing more important to me than continuing to foster an inclusive and flexible workplace environment,” said Lindsey Graves, Sunset Transportation CEO. According to a company press release, Sunset was recognized for having a corporate culture that promotes a gender-diverse workplace that aspires to attract and retain more female talent. Over 55% of Sunset’s executive leadership are women, including its CEO, CCO, and three vice residents. Across the organization, 46% of Sunset’s total workforce are women. “We’ve designed our company to include benefits that enhance the work experience for women and offer opportunities for career growth. I’m incredibly proud and honored to, once again, be recognized by WIT as a top company for women in the transportation and logistics industry,” Graves said. Sunset was also a WIT 2023 Top Company for Women to Work in Transportation honoree. Furthermore, two members of its female leadership have received recognition over the past several months: CCO Tracy Meetre was honored as a 2024 Women in Supply Chain recipient, while vice president of Strategic Accounts Jill Gross was recognized as a Leading Woman in Logistics recipient. “With company culture focused on work-life balance for employees and high-touch service for customers, Sunset’s leaders take pride in providing a comprehensive and competitive salary and benefits package that includes full benefits, a 401(k) match and tuition reimbursement,” the company said. “Sunset also offers its employees work-from-home flexibility, wellness stations, and paid paternity leave to accompany robust maternity perks.”

Schneider launches new intermodal service between Southeast US and Mexico

Dana Guthrie - November 13, 2024

GREEN BAY, Wis. — Schneider is set to launch a new Intermodal service providing continuous rail service between points in Mexico and Texas and points in the Southeastern United States. “This represents a major leap forward in our industry combining the best-in-class service of two renowned railroads, and it will transform the intermodal landscape,” said Jim Filter, Schneider executive vice president and group president of Transportation and Logistics. Our customers can now enjoy unparalleled efficiency and reliability in their supply chains.” According to a company media release, service on the new route will begin in December. The lane is a result of recently announced connection between CSX Corp. and Canadian Pacific Kansas City. “It will be especially useful for shippers looking to diversify their transportation solutions and support and fortify nearshoring strategies,” Filter said. According to the release, as strategic customer of both CSX and CPKC, Schneider will provide this competitive advantage to shippers, who have traditionally relied on over-the-road transport in the Southeast. The service is a testament to the dynamic collaboration between CSX, CPKC and Schneider. “This new service will connect growing markets in Mexico and Texas with Florida and Georgia. Unlike truck transportation on this Southeast-Mexico cross-border route, intermodal service with CPKC provides a seamless, efficient border crossing, eliminating potential delays and exposure to freight loss,” the company said in the release. According to the release, service highlights include: Industry-leading service: CSX and CPKC are both excellent service providers with long track records of providing solutions with truck-like transits. Enhanced security: CPKC maintains unmatched security for cross-border rail shipments. Clearing customs in-transit and avoiding a hand-off at the border eliminates stops in route that can expose freight to theft. Reliable transit: Experience consistent, truck-like daily transit between the Southeast and Mexico. CPKC’s proprietary Laredo train bridge crossing has been the only intermodal service unaffected by shutdowns at the U.S.-Mexico border. Superior sustainability: Schneider’s intermodal solutions offer a 62% reduction in CO2 emissions compared to Tier 5 truckload transportation. Maximized payload: Increase payload and savings by 10% or more with Schneider’s lightweight, company-owned equipment and specialized heavy-haul permits. Industry expertise: With a robust presence and over 30 years of experience in Mexico, Schneider is the cross-border expert shippers can trust. “By leveraging the strengths of our combined networks, we are able to provide customers with unparalleled efficiency, reliability and security in their supply chains,” said Kevin Boone, CSX executive vice president and COO Kevin Boone. “This service strengthens our commitment to delivering sustainable, innovative transportation solutions that support the evolving needs of our customers.” The release noted that the new service is also a major step toward Schneider’s ambitious sustainability goal of doubling its Intermodal size, significantly reducing carbon emissions and promoting greener logistics solutions. “This new interchange we are establishing with CSX is going to provide new competitive services and solutions to customers like Schneider, reaching additional rapidly growing markets,” said John Brooks, CPKC executive vice president and CMO. “By providing more efficient options and routes for Schneider’s current and future customers, we are bringing new capacity to supply chains and taking trucks off the road. Our team is excited to create this truck-competitive service with Schneider and to expand on our shared success.”

Capacity crunch: DAT One freight data reveals impact of carrier exits

Dana Guthrie - November 13, 2024

There were 1.8 million loads available on DAT One last week, down almost 8% compared to the previous week but 15% higher year over year. According to a company press release, the number of available trucks posted on the network fell 6% to 307,925, the lowest weekly total since Labor Day week. The reefer load-to-truck ratio increased amid demand to move fresh and frozen goods ahead of Thanksgiving. Van volumes slipped “The number of dry van load posts declined by 10%, much the same as last year in the first shipping week of November,” said Dean Croke, DAT iQ industry analyst. “However, the figure was 14% higher year over year. Excluding the pandemic-affected years of 2021 and 2022, van load posts for Week 45 are 5% higher than in previous years, indicating ongoing strength in the spot market. Spot van rates are holding up According to Croke, at $1.67 a mile, last week’s national average linehaul van rate was around 11 cents higher year over year and up 4 cents since the ILA strike and hurricanes Milton and Helene made landfall. Truckload freight volume from Seattle increased as B.C. port strikes rolled on “ILWU Local 514 members went on strike at the ports of Vancouver, Prince Rupert, and Fraser-Surrey on Nov. 4; the BCMEA locked out workers the same day,” Croke said. “With both sides saying they’re at an impasse, the Canadian government ordered binding arbitration today. The work stoppage boosted truckload volumes out of the Seattle freight market, where the average van rate was up 5 cents to $1.39 a mile last week, nearly 10 cents higher year over year. From Seattle to Stockton, load volumes rose 1.4% and were up 55% month over month. The average spot van linehaul rate on that lane increased 4 cents to 97 cents a mile, still 7 cents lower year over year.” Flatbed load volumes continued to slide “Following the surge in activity resulting from hurricanes Milton and Helene, flatbed load volumes continued to decline last week,” Croke said. “Compared to the previous week, volumes in the Southeast fell 8% and 9% in the Lakeland, Florida, market.” Dry Vans ▼ Van loads: 823,754, down 10% week over week ▼ Van equipment: 204,207, down 6% ▲ Linehaul rate: $1.67 net fuel, up 2 cents ▼ Load-to-truck ratio: 4.0, down from 4.2 Reefers ▼ Reefer loads: 397,713, down 4% week over week ▼ Reefer equipment: 60,199, down 9.5% ▲ Linehaul rate: $2.03 net fuel, up 1 cent ▲ Load-to-truck ratio: 6.6, up from 6.2 Flatbeds ▼ Flatbed loads: 569,028, down 5.9% week over week — Flatbed equipment: 43,519, virtually unchanged ▲ Linehaul rate: $1.99 net fuel, up 2 cents ▼ Load-to-truck ratio: 13.1, down from 13.9

Cummins thrives in Q3 led by power systems and distribution business

Dana Guthrie - November 13, 2024

COLUMBUS, Ind. — Cummins Inc. reports a strong third quarter with net income attributable to Cummins in the third quarter at $809 million. “We achieved strong sales and profitability in the third quarter, led by improvement in our Power Systems and Distribution businesses, and have adjusted our full year projection for EBITDA percentage to be at the top end of the prior range,” said Jennifer Rumsey, chair and CEO of Cummins. “We continue to advance our Destination Zero strategy as we deliver innovative technologies for our customers, strengthen our position in key markets and drive improvement in our financial performance.” According to a media release, third quarter revenues of $8.5 billion were flat to the same quarter in 2023. Sales in North America decreased 1% while international revenues increased 2%. Net income attributable to Cummins in the third quarter was $809 million, or $5.86 per diluted share, compared to $656 million, or $4.59 per diluted share, in 2023. The tax rate in the third quarter was 19.2% including $36 million, or $0.26 per diluted share, of favorable discrete tax items. The third quarter of 2023 included costs related to the separation of Atmus of $26 million, or $0.14 per diluted share. Earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter were $1.4 billion, or 16.4% of sales, compared to $1.2 billion, or 14.6% of sales, a year ago. EBITDA for the third quarter of 2023 included the costs related to the separation of Atmus noted above. 2024 Outlook Based on its current forecast, Cummins is maintaining its full-year 2024 revenue guidance to be in the range of down 3% to flat. EBITDA is expected to be approximately 15.5%; at the top end of the previous guidance of 15.0% to 15.5%. Cummins plans to continue generating strong operating cash flow and returns for shareholders and is committed to our long-term strategic goal of returning 50% of operating cash flow back to shareholders. In the near term, the company will focus on reinvesting for profitable growth, dividends and reducing debt. “We solidified our expectations on profitability for 2024 to the top end of our prior range thanks to continued improvements in Power Systems and Distribution segments. Although we faced slowing demand in the North American heavy-duty truck market during the third quarter and anticipate this trend to persist into the fourth quarter, Cummins remains well-positioned to deliver strong financial performance, invest in future growth and return cash to shareholders,” Rumsey said. Third Quarter 2024 Highlights: Cummins increased its quarterly common stock cash dividend from $1.68 to $1.82 per share. The company has increased the quarterly dividend to shareholders for 15 consecutive years. Cummins started full production of the X15N natural gas engine at its Jamestown Engine Plant, which celebrated its 50th anniversary in the third quarter. The Cummins X15N is part of the X-series Cummins’ HELM lineup, a global engine platform that is derived from a common base and offers multiple fuel types including natural gas, advanced diesel and hydrogen. Cummins attended IAA Transportation 2024 in Hannover, Germany, to showcase a diverse portfolio of powertrain and component technologies as part of the company’s Destination Zero strategy to progress industry decarbonization. Highlighted products at the booth included Euro-7 ready X10 and the X15H hydrogen internal combustion engines, a hydrogen fuel cell engine, next-generation lithium iron phosphate battery solutions, eAxles, eTurbocharger, eCompressor and hydrogen fuel storage solutions, as well as fully integrated powertrains. Accelera by Cummins celebrated the opening of its new electrolyzer manufacturing plant in Guadalajara, Castilla-La Mancha, Spain. The plant has the capacity to produce 500 megawatts (MW) of electrolyzers per year, scalable to more than 1 gigawatt (GW) per year in the future. Cummins was recognized as one of the 2024 100 Best Companies by Seramount, an organization focused on empowering inclusive workplaces; named a Veteran Friendly Employer by U.S. Veterans Magazine; and ranked #55 on Glassdoor’s Best Places to Work in 2024. Third quarter 2024 detail (all comparisons to same period in 2023): Components Segment Sales – $2.7 billion, down 16%. Segment EBITDA – $351 million, or 12.9% of sales compared to $441 million, or 13.6% of sales, which included the operating results of the Atmus business and $20 million of costs related to its separation. Revenues in North America decreased by 14% and international sales decreased by 18% primarily due to the separation of Atmus and lower demand in heavy-duty truck. Engine Segment Sales – $2.9 billion, down 1%. Segment EBITDA – $427 million, or 14.7% of sales, compared to $395 million, or 13.5% of sales. Revenues decreased 2% in North America and increased 4% in international markets due to softening demand in the North American heavy-duty truck market and strength in global medium-duty truck markets. Distribution Segment Sales – $3.0 billion, up 16%. Segment EBITDA – $370 million, or 12.5% of sales, compared to $306 million, or 12.1% of sales. Revenues in North America increased 13% and international sales increased by 25% driven by increased demand for power generation products, particularly for data center applications, and pricing actions. Power Systems Segment Sales – $1.7 billion, up 17%. Segment EBITDA – $328 million, or 19.4% of sales, compared to $234 million, or 16.2% of sales. Power generation revenues increased 24% driven by increased global demand, particularly for the data center market. Industrial revenues increased 7% primarily due to strong mining demand more than offsetting weaker oil and gas markets. Accelera Segment Sales – $110 million, up 7%. Segment EBITDA loss – $115 million. Revenues increased due to increased electrolyzer installations. Costs associated with the development of electric powertrains, fuel cells and electrolyzers, as well as products to support battery electric vehicles, are contributing to EBITDA losses.

Chris MacDonald takes the helm as executive vice president of sales, telematics at Transflo

Dana Guthrie - November 13, 2024

TAMPA, Fla. — Transflo has appointed Chris MacDonald as executive vice president of Sales, Telematics to lead the company’s sales strategy for telematics and fleet management solutions, driving revenue growth and expanding Transflo’s reach. “I am thrilled to join Transflo at a pivotal time for connected technologies in the transportation industry,” MacDonald said. “Transflo’s comprehensive suite of workflow automation solutions empowers fleets to excel. The company’s strong commitment to innovation and its track record of solving complex customer challenges truly set it apart as an industry leader. I look forward to collaborating with the team to build impactful partnerships and deliver innovative solutions that meet the evolving needs of our customers.” According to a press release, with extensive experience in the transportation technology space, including executive leadership roles at Orbcomm, MacDonald brings a wealth of expertise in delivering SaaS and IoT-based telematics solutions that empower fleets to enhance operational efficiency and safety. “We are delighted to welcome Chris MacDonald to the Transflo team,” said Renee Krug, CEO of Transflo. “Chris has a remarkable track record of helping fleets succeed with innovative technologies, and his leadership will be critical as we continue to grow our connected fleet solutions portfolio. His deep knowledge of the logistics industry and telematics aligns perfectly with our mission to support carriers with data-driven solutions for better safety, compliance, and performance.” At Orbcomm, MacDonald held multiple senior leadership positions, most recently as senior vice president North American Sales, where he led sales initiatives across North America, focusing on IoT, telematics, and fleet management solutions into Transportation, Maritime and Heavy Industries markets. During his 15-year tenure, he played a pivotal role in expanding Orbcomm’s customer base and driving adoption of smart technology solutions that reduced costs and improved fleet visibility for transportation providers. His experience working closely with trucking companies and logistics firms makes him uniquely suited to support Transflo’s growth trajectory and will also deepen connectivity with Transflo customers, according to the release. “With Transflo continuing to expand its portfolio of telematics and fleet management solutions, MacDonald’s leadership will play a vital role in scaling Transflo’s offerings to help carriers leverage data for operational excellence and safety improvements,” the company said in the release.

Diesel prices drop for the second week in a row

Bruce Guthrie - November 13, 2024

Though the decline was not quite as sharp as last week, diesel prices did inch downward again. The national price per gallon for diesel fell from $3.536 to $3.521. That comes after a nearly 4-cent tumble last week. The largest drop in price came from the Rocky Mountain region which fell sharply again. After falling by seven cents last week, the price per gallon of diesel fell again from $3.583 to $3.525. Diesel prices have fallen by a total of exactly 13 cents per gallon over the last two weeks. Most other drops in price in other regions were modest, ranging around a one cent decline in most regions. The Lower Atlantic fell from $3.500 to $3.478 The Central Atlantic region did manage to rise slightly from $3.792 to $3.807.

Carriers respond to Bloomberg survey: Should I stay, or should I go?

Bruce Guthrie - November 12, 2024

BOISE, Idaho — While still looking for improvement, the trucking market seems to be trending upward. That is according to the latest Bloomberg | Truckstop survey, which polled owner-operators and small fleets, carriers who have faced challenges with weak demand and low rates. They say they are now seeing signs of improvement ahead, but work is still to be done because some say they are still considering a shift in their careers. “Despite greater optimism over the outlook, more carriers expressed an intent to leave the business than in our prior survey,” said Lee Klaskow, senior freight transportation and logistics analyst at Bloomberg Intelligence. “An acceleration in carrier exits could speed up the market’s return to equilibrium and provide a better backdrop for rates next year.” The survey also shows: Rates may bounce back soon: Spot rates remained suppressed in 3Q, falling 17% on average excluding fuel, according to respondents, but more see the view brightening. An increase over the next 3-6 months was expected by 29% of carriers, 6 percentage points higher than the survey three months ago. There are indications that the market is moving closer to equilibrium. Truckstop’s Market Demand Index for the North American trucking market increased 13% on average in 3Q from last year, the third consecutive quarter of year-over-year gains. Demand may gradually increase: Sentiment going forward appears to be more optimistic, even though carriers continued to see lower volume in 3Q, with 56% of respondents noting weaker demand compared with last year. Higher volume over the next 3-6 months is expected by 40%, 7 percentage points better than our 2Q survey. An improved demand outlook could also lead to more carriers buying equipment, with 24% saying they might make a purchase in the next 3-6 months, 3 percentage points better than the 2Q responses. Weak demand was cited by 34% as the main reason for not buying. Carriers face uncertainty about their futures: More carriers see themselves exiting the industry, with 15% saying they believe they’ll be out of trucking in six months, 6 percentage points higher than the 2Q survey. Excess capacity has been slow to leave the market, and any acceleration could help spot rates move higher, setting up for a better 2025. “Carriers are optimistic that the toughest times are now behind them,” said Kendra Tucker, chief executive officer, Truckstop. “Truckstop continues to be a trusted partner, empowering carriers to thrive in a dynamic market with innovative solutions designed to help them to manage, safeguard and expand their businesses.” The Bloomberg | Truckstop survey of owner-operators and small fleets provides timely channel checks into the health of the spot market. The sample size was 171, consisting of dry-van, flatbed, temperature-controlled and specialized/diversified, hot-shot and step-deck carriers. Of the respondents, 53% operate just one tractor.

A new chapter in logistics: Allen Lund Company launches ALC India

Dana Guthrie - November 12, 2024

La Cañada Flintridge, Calif. — The Allen Lund Company has announced establishment of the ALC India office after a decade of development. “I am honored and blessed to be working with such an amazing and hard-working team,” said Chetan Tandon, ALC’s CIO. “Their unconditional support has contributed to the growth of Allen Lund Company’s technology footprint.” According to a company media release, in 2007, ALC launched a development team in India. Initially working for a joint venture between ALC and a third-party software solutions provider, the team officially became ALC India in 2023. Over the past decade, they have focused on various projects, including in-house platform development, problem-solving and research. ALC India is currently focused on the Transportation Management System (TMS) for ALC, as well as integration with the company’s key customers. In the coming months, the office aims to expand the team and recruit top talent.

Peterbilt earns recognition as top company for women in transportation

Dana Guthrie - November 12, 2024

DENTON, Texas — Peterbilt has been named as a 2024 Top Company for Women to Work for in Transportation by the Women In Trucking Association, marking another consecutive year of receiving this esteemed honor. According to a company press release, Peterbilt is also amongst the Elite 30, noted as one of the 30 companies that garnered the highest number of votes. Since its establishment in 2018, the Top Company for Women to Work for in Transportation recognition program has supported WIT’s mission of promoting companies that prioritize the employment and advancement of women in the transportation industry. “Peterbilt values its diverse workforce. Being recognized as a Top Company for Women to Work for in Transportation reflects our continued commitment to fostering career advancement opportunities that empower women and creating a workplace culture that values and celebrates the contributions of all employees,” said Jason Skoog, Peterbilt general manager and PACCAR vice president. According to the release, Peterbilt continues to invest in initiatives that support diversity and inclusion in the workplace, including the Peterbilt Diversity Council, dedicated to recruiting, developing and promoting a diverse workforce with equal career opportunities for all employees. Additionally, the Peterbilt Women’s Initiative Network (PBWIN) focuses on inspiring, professionally developing and championing the empowerment of women within the organization. “Peterbilt is committed to employing a highly qualified workforce that drives innovation through the collaboration of diverse perspectives,” the company said. For more information on career opportunities, visit https://www.peterbilt.com/careers.

Trucking fleets get boost from ISAAC’s latest data analytics solution

Dana Guthrie - November 12, 2024

QUEBEC, Canada — ISAAC Instruments has unveiled ISAAC Analytics, an innovative new feature within the ISAAC platform helping trucking fleet clients make strategic decisions informed by data, not gut feelings, according to a company press release. “We are pleased to offer ISAAC Analytics and believe this will help trucking fleets make better strategic decisions,” said J.S. Bouchard, ISAAC’s chief product officer and co-founder. “By highlighting the most impactful patterns in all of the raw data, ISAAC can play a key role in helping fleets succeed every season and over the long term.” According to the release, backed by the power of business intelligence (BI), ISAAC Analytics keeps fleets on top of their operational costs, fuel efficiency, asset utilization and safety and compliance statistics. Users have access to ISAAC’s 360° Insights and easy-to-use dashboards that visually explain factors behind the data so fleets can quickly act on emerging trends. “ISAAC Analytics is another way we provide greater value for our fleet clients from their collected data, all while maintaining strict data privacy and cybersecurity protocols,” said Jacques DeLarochelliere, ISAAC’s CEO and co-founder. Data metrics include ISAAC Coach scores, miles-per-gallon and asset utilization, as well as critical events such as hard braking, engine idling and hours-of-service violations. Fleets can review two years of information, allowing them to focus on year-over-year and month-over-month performance trends. They can also customize the categories by terminal, driver or fleet manager. Prior to officially launching ISAAC Analytics, 12 fleet clients participated in a pilot program that included 8,500 trucks and 11,000 drivers. Collectively, they covered 1 billion miles and burned 147 million gallons of diesel. There were also 1.2 million critical events recorded during 21 million driving hours, all of which provide figures for fleets to benchmark their performance. “The biggest benefit I see from this platform is the consolidation of the rich data ISAAC has,” said Matthew Campbell, manager of Transformational Excellence and Analytics with truckload carrier Challenger Motor Freight. “ISAAC Analytics transforms and cleanses all of the data points and puts it into a one-stop shop. That alone is super powerful.”

Nation’s truckers sound off: Fall 2024 survey reveals key insights on driver satisfaction and lifestyle

Dana Guthrie - November 12, 2024

BRENTWOOD, Tenn. — Conversion Interactive Agency and People.Data.Analytics (PDA) have recently released their Fall 2024 Driver Survey providing significant insights into the evolving priorities, challenges and sentiments of professional truck drivers in today’s market, offering key takeaways for industry stakeholders. According to a media release, the survey delves into various critical topics, including assessing the level of optimism among drivers regarding the state of the freight market. It also explores the pivotal factors that lead drivers to contemplate making a change in their employment, and the preferences they hold when exploring new driving opportunities. An essential insight from the survey highlighted drivers’ approach to job applications. The data showed that 85% of drivers apply to more than one trucking company when seeking a new job, with 39.9% applying to two or three carriers, and 28.3% applying to more than five. This trend demonstrates that drivers are keeping their options open and emphasizes the need for carriers to be swift and proactive in their recruitment efforts. “With competition for drivers intensifying, recruiting teams must be equipped with the latest tools and technology to stand out and be the first to connect with drivers quickly,” said Kelley Walkup, president and CEO of Conversion Interactive Agency. “Speed and transparency are more critical than ever in the recruitment process.” The survey revealed a noteworthy trend in driver job search behavior. The percentage of drivers currently seeking employment has surged to 40.7%, the highest level observed since Conversion and PDA began tracking this number. When exploring why drivers are looking for new opportunities, predictable pay emerged as the top factor, cited by 81.9% of respondents. This was followed by better home time (65.7%) and the need for consistent miles (49.1%). The demand for better benefits saw a significant shift, with a 25% increase in drivers prioritizing improved benefits compared to the Spring 2024 survey. These findings highlight the importance of stability and quality of life considerations for drivers as they navigate an imbalanced freight market. Driver sentiment about the future of the trucking industry was also captured. When asked if they believed 2025 would be a better year for drivers than 2024, 51.1% of participants expressed optimism. Carriers can use this positive outlook to their advantage by communicating improvements in their freight operations and sharing successes. Retention continues to be a critical challenge for carriers. The survey showed that only 53.3% of drivers feel valued and appreciated in their current roles. This indicates that carriers must intensify efforts to foster trust, empathy, and transparent communication within their teams. Proactive engagement through tools such as PDA’s feedback platforms can help carriers quickly identify and respond to driver concerns, ensuring they feel heard and valued, according to the release. “Collecting feedback is just the beginning; acting on that feedback is what truly builds trust,” said Scott Dismuke, vice president of operations at PDA. “When drivers see their concerns are being addressed, it significantly lowers turnover risk and enhances loyalty.” Another compelling finding from the survey was the trade-off between pay and home time, according to the release. Nearly half of the drivers indicated they would consider job opportunities offering more home time, even if it meant reduced pay. This reflects the ongoing struggle for drivers to balance work and personal life. Carriers should ensure that their recruiters are equipped with strategies to highlight the benefits and trade-offs of different positions clearly and effectively. Ultimately, the survey’s data shows the need for carriers to leverage technology and innovative tools to enhance recruitment and retention efforts. Prioritizing predictable pay, transparent communication, and understanding what drivers value most can position carriers to thrive in a competitive market. “Retention strategies that integrate clear, empathetic communication and real-time responsiveness give carriers a true advantage,” Dismuke said. “Ensuring drivers feel valued is not optional—it’s essential for sustained success.” The Fall 2024 Driver Survey serves as a vital resource for carriers aiming to adapt and stay competitive, according to the release As the trucking industry evolves, listening to drivers and implementing actionable insights remain crucial for long-term success. To access the full survey report, click here.

A new era in parking management: TRUX merges with Truck Park Management, creating the nation’s largest truck parking management company

Dana Guthrie - November 12, 2024

ATLANTA, Ga. — With the trucking industry facing an unprecedented shortage of safe, secure and reliable parking options nationwide, TRUX has merged with Truck Park Management to form the largest truck parking management company in the nation, now solely known as TRUX Parking. With over 3.5 million truck drivers on the road, the American Transportation Research Institute (ATRI) reports only one parking space per 11 drivers. This severe shortage forces drivers to park in unsafe locations, increases operational costs, and contributes to driver fatigue–one of the leading causes of accidents in the industry. “This merger allows the new entity to expand rapidly, acquiring and operating high-demand parking locations across the U.S., optimizing site operations and providing a long-term solution to the truck parking shortage,” TRUX Parking said in a press release. “It marks a significant step toward making safe, secure and reservable truck parking available to all of America’s truck drivers.” A Mission to Solve America’s Parking Shortage Through this merger, TRUX Parking aims to acquire and manage parking assets nationwide, offering cutting-edge lot management software to other parking operators. TRUX’s commitment to innovation and expansion will help ease the strain on drivers and fleet operators, providing solutions that not only alleviate the current crisis but also prevent future shortages as the demand for parking continues to rise, according to the release. Consistent Quality Across each Location “TRUX Parking is dedicated to creating a dependable, high-quality experience at every location,” the company said. “Each TRUX Parking lot is designed with truck drivers’ needs in mind, offering essential amenities such as bright lighting, secure fencing, electric gate access, well-maintained bathrooms, dumpsters, and 24/7 security cameras. This consistency in amenities ensures that wherever drivers encounter a TRUX Parking lot, they can expect the same high standards of comfort and security. Some of our flagship locations go even further, providing an on-site truck repair shop for added convenience.” Expanded Team and Expertise The merger unites two powerhouse teams with the expertise and resources necessary to tackle the growing parking deficit. The newly expanded team will be instrumental in scaling the company’s property acquisition and management efforts, ensuring drivers have access to well-managed and strategically located facilities, according to the release. Leadership and Vision With a leadership team comprised of industry experts, the newly merged company is poised to lead the charge in solving the truck parking shortage, the release noted. The executive team is led by Danny Loe, Joey Goodman and Alex Hegner. The TRUX Parking board touts an impressive list of trucking executives and real estate professionals. Danny Loe, CEO and board member, brings over 25 years of experience leading logistics initiatives, including serving as President of ArcBest’s Asset-Light Logistics Division and spearheading the acquisition of MoLo Solutions. Todd Denton, COB, is a successful entrepreneur with experience across multiple industries, including healthcare and technology. Chip Patterson, board member, brings over 40 years of parking management experience through his founding of AmeriPark and 12 Oaks Parking. James Reed, board member, brings extensive leadership experience in logistics, currently head of Logistics for Wal-Mart and recent president of USA Truck. Gary Enzor, board member, is a veteran executive who led Quality Distribution Inc. to global prominence in bulk chemical transportation. Jason Bates, board member, adds expertise in finance and logistics from his leadership roles at Quantix Supply Chain Solutions and previous CFO at Daseke and USA Truck. Shaleen Devgun, board member, is a leading innovator in logistics technology, serving as EVP and CIO at Schneider. Stephen LaFrance, board member, brings extensive experience in retail and real estate, growing USA Drug into the nation’s largest privately-owned pharmacy chain before selling to Walgreens in 2012. He is also a Founder of Tempus Realty Partners. A New Era in Truck Parking Management “The merger of TRUX and TPM sets the stage for a new era in truck parking management,” the company said. “With expanded resources and a strong leadership team, the company will aggressively pursue property acquisitions and elevate site operations to address the truck parking crisis. By providing safe, reliable, and strategically located parking solutions, TRUX Parking is answering the call for urgent action in an industry desperate for change.”

JB Hunt honored for commitment to America’s heroes

Dana Guthrie - November 11, 2024

LOWELL, Ark. — J.B. Hunt Transport Services Inc. has been honored with national recognitions from Viqtory as a Top 10 Military Friendly Employer, Newsweek as one of America’s Greatest Workplaces for Veterans and Military Times as Best for Vets. “We are honored that these leading organizations have recognized the workplace environment J.B. Hunt strives to create for our veterans,” said Brad Hicks, president of highway services and executive vice president of people at J.B. Hunt. “Supporting our veterans ties in with our culture and legacy, providing a much deeper meaning. We continue to enhance our workplace so that service members feel valued for their service, experience and expertise as well as the excellence, commitment and honor they represent.” According to a company media release, this is the 18th consecutive year that J.B. Hunt has earned Military Friendly® Employer status and the second time to be included in the Top 10. It is the company’s first time receiving Best for Vets recognition from Military Times and to be included among Newsweek’s America’s Best Workplaces for Veterans. Earlier this year, J.B. Hunt was recognized by the Arkansas Veterans of Foreign Wars as Employer of the Year. More information about these awards, including methodology and criteria, is available on each organization’s website. “As a company founded by both a veteran and driver, J.B. Hunt understands that the skills and expertise gained through military service can lead to a successful career in transportation and logistics,” the company said in the release. “Nearly one in every nine J.B. Hunt employees is a veteran, and the company is committed to adding approximately 1,600 veterans to its organization each year.” From Active Service to Professional Career J.B. Hunt’s commitment to hiring and enabling veterans includes programming that meets their professional needs and assists with their transition from active service to a civilian career. The company hosts multiple programs, training opportunities and resources that enable their professional growth, including: Military Leave Benefits – J.B. Hunt provides comprehensive benefits for employees who serve in any stage of their career or service. Military members and their family members are also eligible to take up to 26 weeks per calendar year to care for a family member who suffers an injury or becomes ill while on active duty. Active-Duty Support – The company provides active-duty employees with a military deployment and re-entry guide and offers differential pay policies to support their military and civilian career. Military Leave Concierge Service – For members of the National Guard and Reserve, J.B. Hunt provides employees and their families with assistance through each of the four phases of military leave. This service includes consultation and support from a Gold Star family member. SkillBridge Program – Through this Department of Defense program, service members are given the opportunity to gain civilian work experience while still on active duty. SkillBridge is available to military members, as well as their spouses, who are within 180 days of release from active duty. Additionally, the company’s Apprenticeship Program offers a route for military members interested in transitioning directly to a driver position. Veterans Employee Resource Group – Recognizing the power of community, J.B. Hunt hosts an employee resource group dedicated to empowering and engaging employees and to support the professional and personal success of veterans. Additionally, J.B. Hunt holds annual company-wide Memorial Day and Veterans Day observance events and has hosted the Arkansas Run for the Fallen Traveling Memorial each November since 2017. In December, the company will participate in Wreaths Across America for the 11th consecutive year, helping ensure the delivery of hundreds of thousands of wreaths to national cemeteries throughout the country to remember fallen veterans during the holiday season.

Viña sounds alarm: China’s cyber threat on the rise, says White House

Dana Guthrie - November 11, 2024

ALEXANDRIA, Va. — White House representative Stephen Viña served as keynote speaker at the National Motor Freight Traffic Association, Inc.’s (NMFTA) Cybersecurity Conference and shared that the People’s Republic of China (PRC) has remained the most active and persistent cyber threat to the U.S. government, private sector and critical infrastructure networks. In his session, Viña confirmed the latest trends, forecasts, and matters of urgency as they related to disruptive threats to critical infrastructure, supply chain exploitation, AI-enabled cybersecurity threats and an increase in ransomware attacks. “In January, the National Cyber Director testified in front of Congress along with colleagues from CISA, NSA, and the FBI about this threat from the PRC, dubbed Volt Typhoon,” said Viña, representing the White House’s Office of the National Cyber Director. “Volt Typhoon conducted cyber operations focused not on financial gain, espionage, or state secrets but on developing deep access to our critical infrastructure. This includes the energy sector transportation systems, among many others. A prolonged interruption to these critical services could disrupt our ability to mobilize in the event of a national emergency or conflict and can create panic among our citizens. Ultimately, if trucking stops, America stops.” According to an NMFTA press release, the U.S. Naval Institute recently provided a breakdown of the three publicly disclosed Typhoon threat actor groups: Volt Typhoon, Flax Typhoon, and Salt Typhoon. Volt Typhoons specifically use a technique known as living off the land, which involves using built-in tools on the target network to execute objectives without installing malware (which may be detected). Viña disclosed that the administration has in process significant ongoing work to help assess and strengthen the resilience of this country’s supply chain from both digital and physical threats. The PRC’s cyber activity also goes beyond just prepositioning for future conflict. “Today and literally every day, they are actively attacking our economic security, engaging in wholesale theft of our innovation and our personal and corporate data,” Viña said. “And yes, they continue to conduct espionage and steal state secrets, as has been the case in the news recently. We also know that nation-state actors from Russia, Iran and North Korea are responsible for a wide range of malicious activity that impacts the United States, our allies, and our partners.” NMFTA recently hosted its Cybersecurity Conference which brought in industry professionals and media from every sector. This was a sold-out conference. Attendees heard from cybersecurity experts at Estes Express Lines, Ward Transport & Logistics, Werner Enterprises, XPO, and more. “Our annual Cybersecurity Conference offers a snapshot of the extensive cybersecurity resources NMFTA provides year-round,” said Debbie Sparks, executive director for NMFTA. “It is an opportunity for security professionals, academia, government experts, vendors, and members of the media to unite and openly discuss the challenges we face daily with cybersecurity and provide solutions to those issues. It’s a chance to become more aware of what we’re up against, stay informed, and remain proactively alert. We’re thrilled with this year’s turnout and are already preparing for next year’s event in Austin, TX.” To learn more about NMFTA’s mission, advocacy, services, resources, and industry conferences, visit www.nmfta.org.

Bridgestone claims top company for women to work in transportation award for third year straight

Dana Guthrie - November 11, 2024

NASHVILLE, Tenn. – Bridgestone Americas (Bridgestone) has been named a 2024 “Top Company for Women to Work for in Transportation” by the Women in Trucking Association (WIT). “Bridgestone is proud to be recognized for the third straight year as a workplace where women in transportation can thrive,” said Emily Poladian, president, Mobility Solutions, Americas Sales & Customer Success. “It’s a privilege to work for an organization that champions representation and shows young women just starting their careers that this is an industry where they belong, something that I hope will be the norm for more and more companies.” According to a company press release, the recognition is given by Redefining the Road, the official magazine of WIT that promotes the accomplishments of companies focused on women’s employment in the trucking industry. The award was validated by an industry-wide vote involving more than 31,000 professionals in transportation, which ranked Bridgestone high on voting criteria areas as determined by WIT, including: A corporate culture that fosters gender diversity. Professional development opportunities. Career advancement opportunities. Competitive compensation and benefits. Flexible hours and work requirements. The following Bridgestone employees were also named to Redefining the Road’s 2024 Top Women to Watch in Transportation based on their contributions and business impact: Debra Hamlin, Director, Operations, Bridgestone Commercial Dealer Network. Megan Miller, Senior Manager, Commercial Sales Channel Development. Samantha McCracken, Strategic Operations Manager. Poladian was also named to the WIT Board of Directors to further advance and promote diversity while helping develop the next generation of talent in the trucking industry. “Bridgestone’s partnership and recognition from WIT aligns with the Bridgestone E8 Commitment, which consists of 8 Bridgestone-like values starting with the letter ‘E,’” the release said. “This recognition aligns with the ‘Emotion’ and ‘Empowerment’ values of the Bridgestone E8 Commitment.”

Port Houston achieves prestigious “Great Place To Work” certification

Dana Guthrie - November 11, 2024

HOUSTON, Texas — Port Houston has been certified as a “Great Place to Work” based entirely on what current employees say about their experience working at Port Houston. According to a company press release, Great Place To Work is the global authority on workplace culture, employee experience and the leadership behaviors proven to deliver market-leading revenue, employee retention, and increased innovation. “Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience,” said Sarah Lewis-Kulin, the vice president of Global Recognition at Great Place To Work. Lewis-Kulin emphasized that certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. “By successfully earning this recognition, it is evident that Port Houston stands out as one of the top companies to work for, providing a great workplace environment for its employees,” Lewis-Kulin said. According to the release, 75% of employees said it’s a great place to work – 18% higher than the average U.S. company. “I am excited to share that Port Houston has officially been certified as a Great Place To Work,” said Charlie Jenkins, Port Houston CEO. “This achievement is particularly special because we also had our highest participation in the history of this survey being conducted at Port Houston. I’m proud of what we’ve achieved, but I also want to emphasize that this is just the beginning.” According to Jenkins, Port Houston believes its strength lies in its people, and the company works hard to create an environment that is a great place for employees to work, connect and grow. To bring employees together, the company hosts events like Waterside Chats and employee-retiree appreciation gatherings, among others. “We also offer various employee development programs that cater to all levels of the organization, helping employees grow and advance,” the company said in the release. “Our commitment to diversity, equity, and inclusion remains strong, with focused initiatives such as pay equity, cultural celebrations, and training on topics like Microaggressions & Respect in the Workplace. In addition, we place great importance on employee well-being through our Wellness program, day-one healthcare coverage, retirement planning, and our Employee Assistance Program. We ensure employees have the support needed for a healthy work-life balance and long-term security.” To recognize employees contributions to the company’s overall success, Port Houston provides incentive pay through its 2023 Incentive Rewards Plan. The payout, made in early 2024, was based on achievement of the company’s strategic objectives set in the prior year. “Our people are our most valuable asset, and these rewards serve as tangible acknowledgments of the hard work that makes our success possible,” the company said. “One of the many ways employees engage in our mission and contribute to our strategic efforts is through community outreach and volunteering. Port Houston’s dedication to community engagement, maritime workforce development, and environmental sustainability is shared across our team.” Port Houston employees dedicate thousands of hours every year to supporting environmental efforts, such as cleaning beaches and bayous, as well as marsh planting and restoration events. Additionally, employee volunteers support the annual Maritime Youth Expo, career fairs, Port Houston’s annual community resource fair, and participate in projects with Habitat for Humanity and local food banks. “At Port Houston, we are proud of the strides we’ve made in fostering a vibrant, inclusive culture for our employees, engaging with our local communities and advancing environmental stewardship as a team,” the company said. “As we continue to grow, we remain committed to creating a workplace where people thrive and where we make a positive, lasting impact on our community and environment.”

PAM Transportation Services rebrands as PAMT CORP, a Nevada corporation

Dana Guthrie - November 11, 2024

TONTITOWN, Ark. — P.A.M. Transportation Services Inc. has completed its redomestication to Nevada by converting from a corporation organized under the laws of the state of Delaware to a corporation organized under the laws Nevada under the new corporate name PAMT CORP. “Upon the redomestication, each outstanding share of common stock of the company as a Delaware corporation was automatically converted into one outstanding share of common stock of the Nevada corporation,” the company said in a media release. “The company’s common stock will continue to be traded on The Nasdaq Stock Market under the trading symbol “PTSI” until Tuesday, Nov. 12. Upon the commencement of trading on Nov. 12 the company’s common stock will begin trading on the Nasdaq Stock Market under the name PAMT CORP and the new trading symbol “PAMT.” Holders of the company’s shares of common stock do not need to exchange their existing stock certificates for new stock certificates, as the existing stock certificates will continue to represent shares of the company as a Nevada corporation. According to the release, the redomestication was previously approved by the board of directors of the company, and subsequently approved by the shareholders of the company at the company’s annual meeting of shareholders held on Oct. 31. The redomestication did not result in any change in the company’s business, operations, management, assets, liabilities or net worth. Additional information regarding the redomestication is provided in the company’s proxy statement for the annual meeting filed with the Securities and Exchange Commission on Sept. 20.