Business Archives

Gear up for giving: Truckers for Troops celebrates 18th year of supporting the brave

Dana Guthrie - November 5, 2024

GRAIN VALLEY, Mo. – The Owner-Operator Independent Drivers Association is getting ready to launch its annual Truckers for Troops campaign from Nov. 11-17 which drive focuses on supporting U.S. troops overseas and veterans back home Beginning the same week as Veterans Day, the fundraising effort has been an OOIDA tradition since 2007, originally dedicated to sending care packages to service personnel stationed in combat zones, according to an OOIDA press release. Truckers for Troops has also helped a variety of veterans facilities, including those assisting or housing wounded, disabled or homeless service members. “Over the past 17 years, OOIDA has raised more than $800,000, sent more than 3,283 care packages, serving more than 39, 396 members of the military,” OOIDA said. “The organization has also sent aid packages to 65 different facilities caring for wounded, disabled and homeless veterans, including the Veterans Community Project. The VCP began in Kansas City and plans to have locations in every state. Currently they have locations in Sioux Falls, SD, Longmont, CO, St. Louis, MO, and will be expanding to Oklahoma City, OK, Milwaukee, WI and Glendale, AZ.” HOW IT WORKS During the one-week campaign period, truckers can join or renew for $35, with 10 percent of that money going toward care packages. OOIDA matches the 10 percent dollar for dollar. By Phone: During business hours, call 816-229-5791, mention Truckers for Troops, and get transferred to Membership. For after-hour callers, use the same number, press 1, and leave a voicemail. Online: Visit www.OOIDA.com and select “Become a Member” to join or renew. Mail: If mailing in payments, indicate “Dues & Donation” or “Donation only” and specify “TROOPS” on your payment. Direct donation-only checks to the OOIDA Foundation. Donations only and more info found here: Truckers for Troops website. Individual tax-deductible contributions to the Truckers for Troops fund are also welcome and can be paid to the OOIDA Foundation, a 501(c)(3) nonprofit corporation. Spotlight on Veterans Community Project: This invaluable project boasts a 60 percent success rate transitioning veterans from homelessness to permanent housing. Veterans are provided with “tiny homes” filled with amenities as well as access to a community center for support. With several locations and plans for national expansion, the project aims to touch lives in every state. CARE PACKAGE ADDRESSES Anyone who has a family member or friend serving with the U.S. military, and who would like for them to get a care package, can send the name and complete address to [email protected] and be sure to include projected stateside return date. CARDS AND LETTERS SHOWING APPRECIATION Send to: Attention: Truckers for Troops, P.O. Box 1000, Grain Valley, MO 64029. Towns or school names can be included, but please do not include last names or other personal information. No particular theme, and not necessarily holidays or Christmas.

Truckstop, FTR show van spot rates experience largely seasonal increases

Dana Guthrie - November 5, 2024

BLOOMINGTON, Ind. — Data from Truckstop and FTR Transportation Intelligence for the week ending Nov. 1 showed a spot market mostly moving in line with seasonal expectations. “Broker-posted spot rates for dry van equipment returned to their recent upward trend, and refrigerated spot rates rose as they always do during comparable weeks of the year,” FTR said. “A decrease in rates for flatbed equipment, however, held back the overall market rate, which eased slightly for the second straight week. Dry van and refrigerated rates were up y/y for the fourth straight week.” According to the release, flatbed rates were up y/y for the third straight week, although the positive comparison was tiny. Spot rates during the current week (week ended Nov. 8) typically move much like they did last week as refrigerated rates always rise and flatbed rates always fall. The move in dry van spot rates is not as consistent as the other equipment types for this week of the year. With truck postings decreasing more sharply than load postings, the Market Demand Index increased to 68.1, which is still lower than it was two weeks earlier. “Broker-posted spot rates for dry van equipment in the Truckstop system returned to their upward trend during the week ended November 1 (week 44) while refrigerated spot rates also rose, continuing their recent volatility,” said the release. “Refrigerated rates invariably rise during week 44, but dry van rates have been less consistent, especially in recent years. Flatbed rates fell as they almost always do during that week of the year. Rates were higher y/y for all three equipment types, but only barely so for flatbed.” Total Spotload Availability Total load activity eased 1.3% after decreasing more than 7% in the previous week. Load postings were close to 10% higher than the same 2023 week – the weakest comparison in four weeks – but were nearly 23% below the five-year average. Total truck postings fell 4.2%, and the Market Demand Index – the ratio of load postings to truck postings in the system – rose modestly. Total Spot Rates The total broker-posted rate eased three-tenths of a cent after declining just slightly more than that during the previous week. Rates were more than 1% above the same 2023 week but were close to 6% below the five-year average. Spot rates excluding a calculated fuel surcharge were nearly 11% higher than the same 2023 week and were higher y/y for all equipment types. The current week (week 45) typically looks much like last week as broker-posted refrigerated spot rates always rise and flatbed rates always fall. As with week 44, dry van spot rates are not as consistent as they are for the other equipment types. Dry Van Spot Rates Dry van spot rates increased nearly 3 cents after declining more than 2 cents in the prior week. Rates, which have risen in five of the past six weeks, were 3.5% above the same 2023 week but about 9% below the five-year average for the week. Excluding an imputed fuel surcharge, rates were nearly 16% higher than during the same 2023 week. Dry van loads declined 1.5%. Volume was about 10% below the same 2023 week and almost 37% below the five-year average. Refrigerated Spot Rates Refrigerated spot rates rose 5.5 cents after falling 4 cents in the prior week. Rates, which have seesawed over the past five weeks, were about 1% above the same 2023 week but more than 7% below the five-year average. Rates excluding an imputed fuel surcharge were up more than 9% y/y. Refrigerated loads rose 9.8%. Volume was more than 7% above the same 2023 week but 34% below the five-year average for the week. Flatbed Spot Rates Flatbed spot rates decreased nearly 3 cents after rising less than 2 cents in the previous week. Rates, which have risen in four of the past six weeks, were basically in line with last year at just under just 0.2% above the same 2023 week. Flatbed rates were about 5% below the five-year average for the week. Rates excluding an imputed fuel surcharge were up nearly 9% y/y. Flatbed loads decreased 3.4%. Volume was nearly 32% above the same week last year but close to 14% below the five-year average.

TCA partners with Wreaths Across America for Truckloads of Remembrance

Linda Garner-Bunch - November 5, 2024

ARLINGTON, Va. — The Truckload Carriers Association (TCA) is partnering with Wreaths Across America (WAA) to participate in this year’s nationwide Truckloads of Remembrance and provide resources for the TCA Scholarship Fund. Each year, WAA enlist the aid of more than 300 transportation companies to help “move the mission” across the U.S., according to Courtney George, director of transportation and industry relations for WAA. These companies donate equipment, fuel, staffing, and time to deliver loads of sponsored veterans’ wreaths to their final resting places on the headstones of our nation’s servicemembers laid to rest at more than 4,200 participating cemeteries nationwide,” she said. “Truckloads of Remembrance is designed to help expand this reach within the industry through the partnership and support of industry Associations across the country.” With this new partnership, TCA is registered as a WAA payback Sponsorship Group supporting the efforts for wreath placement at Arlington National Cemetery. TCA will be working to fill one trailer load of sponsored veterans’ wreaths to send to the cemetery this December, and the association needs support from its members and the public. One trailer load is approximately 5,000 wreaths. Wreath sponsorships are $17 each, and TCA will receive back $5 per sponsorship, which will go to TCA’s Scholarship Fund. Since 1973, the TCA Scholarship Fund has provided scholarships to students associated with the trucking industry. “TCA is excited to expand its partnership with Wreaths Across America on its Truckloads of Remembrance campaign and help raise awareness and wreaths sponsorships for the mission,” said TCA President Jim Ward. “And to be able to also raise monies for our Scholarship Fund at the same time, that is a win-win.” To sponsor a wreath and help TCA reach its goal of 5,000 veterans’ wreaths, click here.

TCA’s Sarah Hammons transitioned from health care to the trucking industry

Dana Guthrie - November 5, 2024

Sarah Hammons adores her position as membership coordinator for the Truckload Carriers Association (TCA). Growing up in Yorktown, Virginia, she says she originally saw herself with a permanent career in health care — never dreaming she’d find a job she loved in the trucking industry. After graduating from Longwood University with a bachelor’s degree in kinesiology, Hammons worked in health care for about a decade before transitioning to the trucking industry. “I was looking into cardiac rehab. I did an internship down in Florida as a part of my bachelor’s program,” she said, adding that she also worked as a lifeguard during her high school and college years. “I worked in a lot of hospitals as a behavioral health assistant in a psychiatric unit in a psychiatric unit in Richmond, then I worked at a substance abuse rehab center in Maryland,” she said. When she decided to take a “time out” from health care, Hammons says, she began to broaden her horizons. She decided to dip her toes into other career paths, including massage therapy. But then she came across a LinkedIn job posting for TCA. She had some experience in alumni relations, which she realized made her a perfect fit — and so she applied for the role of membership coordinator for the association. The rest, as they say, is history. As membership coordinator, Hammons serves as a liaison between TCA staff and the associate members. “I help out in a bunch of different things because we’re such a small organization staff wise,” she said. “I help out wherever I am needed. I’ve helped with marketing, and I took over the booth sales for our annual safety convention.” Becoming part of the TCA team has been an immense pleasure. She loves the family atmosphere and the fact that everyone pitches in to get the job done — and done well. “There are only about 12 of us,” Sarah said. “When I walked into (my first) staff meeting, the president was sitting right across from me and asking me questions — and actually listening to what I had to say. “I think that’s what made me stick around,” she explained. “I started working there six months before the 2024 annual convention. Meeting the members felt natural. Everyone in the community is very nice and welcoming, and sincere and real.” Hammons believes she’s found a home at TCA. “Having a small staff, you might have to do something that you weren’t expecting would be a part of your job role — but you’ll gain a lot of experience and just expand your horizons a little bit,” she said. “You learn a lot about being a part of the team, especially at the convention, where it’s ‘all hands on deck,’” she continued. “Everyone has your back, and it’s a good experience to learn how to be a part of a team.” She says working with TCA and its members has broadened her life and helped her to make plans for her future … and those plans include continuing her journey with TCA. In her spare time, she loves taking her beagle, Pluto, for long walks. She also enjoys camping and going to the gym. She is busy setting and reaching for new goals, both personally and professionally. “I’m a bit of an achiever,” she said. “I’m taking classes right now for my MBA and I hope to find myself in a leadership position. With the MBA I’m getting experience with marketing, business, finances and data,” she said. “I work a lot with data anyway, with my job role. I am open to a lot of different avenues but I, I’m hoping to stick around with TCA and see where that leads.” Although Hammons admits to being a bit of an introvert, she says her role at TCA has brought a host of new friends and colleagues into her life. “It’s fun,” she said. “There’s a lot of different companies that are coming out with all kinds of different products and ways to help the industry. So, it’s cool, it’s educational. It’s cool meeting members that I haven’t met before.”

Diesel prices continue the trend — by sticking to no trend

Bruce Guthrie - November 4, 2024

The roller coaster that is average weekly diesel prices plunged again this week falling nearly four cents from $3.573 per gallon last week to $3.536. The Rocky Mountain region tumbled hard from $3.655 to $3.583, a drop of more than seven cents. The Midwest Region was another that plummeted the farthest from $3.569 to $3.517 while the Gulf Coast also fell sharply from $3.230 to $3.184. In somewhat of an anomaly, the average price in the New England region did not budge staying steady at $3.753. The West Coast less California region made a modest move downward from $3.791 to $3.763.

Driving for excellence: Cast your vote in the Transition Trucking Awards to honor veterans in trucking

Dana Guthrie - November 4, 2024

Public voting for Transition Trucking: Driving for Excellence Award, a prestigious honor coordinated by the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes program, Kenworth Truck Company and Fastport, that honors military veterans who have made an outstanding transition into the commercial trucking industry will run through Veterans Day, Nov. 11. According to a media release, through a comprehensive nomination process, careful review by a selection committee, and a final public vote the program will recognize and reward America’s top rookie military veteran drivers. The winner will be announced on Dec. 13 during a special event at the U.S. Chamber of Commerce in Washington, D.C. This year’s top award winner will drive away in the state-of-the-art Kenworth T680, equipped with a 76-inch sleeper and the PACCAR Powertrain featuring the PACCAR MX-13 engine rated at 455 horsepower, PACCAR TX-12 automated transmission and PACCAR DX-40 tandem rear axles. The program will award a $10,000 prize for the runner-up and $5,000 for each remaining finalist. The general public is invited to cast their vote l on the Transition Trucking website (https://transitiontrucking.org/vote/). A short video on each driver is also available on the Transition Trucking website’s voting page. The voting is an important determiner for the selection committee as they make their ultimate choice for the next Transition Trucking award winner. Finalists for 2024 include: Douglas Couch, U.S. Navy (E-5), Roehl Transport, Inc., Roehl Transport Training Couch served in the United States Navy from 2012-2016, onboard the USS Nimitz CVN 68. Douglas worked as a Culinary Specialist 2nd Class. In this role, he oversaw 50 sailors, feeding more than 5,000 Sailors and Marines while being forward deployed. Since transitioning into the trucking industry, Douglas has driven more than 150,000 miles and has shown a true and relentless dedication to safety. Shawn Haley, U.S. Marine Corps (E-4), Veriha Trucking LLC, Truck Driving Institute Haley served in the Marine Corps from 1987 to 1991. During this time, he served as security for President Ronald Reagan, First Lady Nancy Reagan, President George H. W. Bush, and First Lady Barbara Bush. Shawn became an entrepreneur who ran a successful business for 20 years. After that time, he pursued a new challenge, becoming a regional truck driver at Veriha where he enjoys seeing our great country. Billy Taylor, U.S. Coast Guard (E-7), Werner Enterprises, Roadmaster Drivers School Born in Honolulu, Hawaii, Taylor lived in many locations across the United States during his parents’ U.S. Navy careers. He joined the U.S. Coast Guard in 2000, and served in various assignments including Port Security and Harbor Defense, Search and Rescue, Coast Guard Cutter deployments for drug interdiction/maritime defense, and served as a recruiter. He retired with 20 years of service in 2020 as a Chief Petty Officer, Machinery Technician. Billy now drives for Werner Enterprises on the Anheuser-Busch account in Columbus, Ohio. Cory Troxell, U.S. Army (E-7), Stevens Transport, Phoenix Truck Driving Institute Troxell was born into service with his grandfather, father, and uncle serving with distinguished careers in the Army. Motivated by a strong sense of family pride, service, and patriotism following the events of 9/11, Cory enlisted into the Army in 2004. In 2009, Cory was severely wounded in an enemy IED attack, eventually earning him the Purple Heart. He continued to serve until his retirement in 2024. Drawing similarities to his decision to join the Army, he followed a trucking driving career path already cut by his family. For more information, visit https://transitiontrucking.org/

Wheels in motion: AASHTO elects new executive leadership

Dana Guthrie - November 4, 2024

WASHINGTON — The American Association of State Highway and Transportation Officials (AASHTO) board of directors has elected Garrett Eucalitto, commissioner of the Connecticut Department of Transportation (CTDOT), as its 2024-2025 president while also tapping Russell McMurry, commissioner of the Georgia Department of Transportation, as its 2024-2025 vice president. “It is an honor to serve as AASHTO president at a time when all state departments of transportation are working together to shape the future for generations to come,” said Eucalitto in a statement. According to a AASHTO press release, Eucalitto previously served as AASHTO vice president after his election by AASHTO’s board in November 2023. He assumed the last two months of AASHTO President Greg Thompson’s tenure in September 2024 when Thompson stepped down from his position as secretary of the Wisconsin Department of Transportation for a role outside of the transportation industry. Thompson’s departure made Eucalitto AASHTO’s first openly gay president. “Our focus on ensuring transportation safety for everyone – particularly for the workforces of state DOTs and their contractors – along with the critical task of reauthorizing the Infrastructure Investment and Jobs Act (IIJA), will be central to our efforts over the next year,” Eucalitto said. “I look forward to collaborating with my colleagues and industry partners to tackle those challenges in the upcoming year.” Nominated by Connecticut Governor Ned Lamont and unanimously confirmed by the state’s legislature as CTDOT commissioner in January 2023, Eucalitto previously served as the agency’s deputy commissioner for three years. Prior to joining CTDOT, he served as the transportation program director for the National Governors Association, as well as undersecretary for the Connecticut Office of Policy and Management and as a legislative assistant in the U.S. Senate. Eucalitto holds a bachelor’s degree from the College of the Holy Cross and a master’s degree from Boston University. Under Eucalitto’s direction as part of his emphasis areas, AASHTO will focus on “Centering Safety” on every state DOT action, harnessing a “whole of AASHTO” approach to address the safety crisis plaguing roadways in communities across the country. This approach will specifically emphasize: Safer Communities: Understanding community values, engaging residents, and determining which safety improvements work in specific situations in each community by implementing Complete Streets policies and deploying proven safety countermeasures that will help create safer communities. Safer Users: States continue to invest in efforts to combat and address unsafe driver behavior, yet the nation has seen an increase in speeding, impairment, distractions, and other reckless behaviors since 2020. Centering Safety means using infrastructure treatments, speed management, advanced technology, enhanced enforcement, better data collection and analysis, and more effective education to improve safety. Safer Workers: State DOT employees, transportation workers, and emergency responders, are facing increased risks and disregard for “Slow Down, Move Over” laws due to speed, recklessness, impairment, and distraction. Centering Safety for the nation’s transportation workers means providing more and better safety equipment, increased efforts to train response teams in traffic incident management, and more widely available mental health resources. Eucalitto will also focus his presidential year on the reauthorization of a federal surface transportation bill to succeed the IIJA, according to the release. To do that, states will be encouraged to tell the stories of transportation projects that are improving quality of life in communities across the country; highlighting the need for continued investment. McMurry becomes AASHTO vice president after serving as AASHTO’s treasurer, as well as chair of AASHTO’s Council on Highways and Streets and as a member of its Strategic Management Committee. “I am thrilled to have the opportunity to serve alongside Garrett in our shared mission to enhance our transportation system for everyone,” McMurry said. “Together, we are committed to creating a safer environment for all users of our transportation infrastructure while also working through AASHTO to develop policy and funding principles for the future of transportation.” He originally joined Georgia DOT as an engineering intern in 1990; serving in a variety of roles, including chief engineer, before being appointed the department’s planning director by Governor Nathan Deal. McMurry was subsequently appointed Georgia DOT’s commissioner by unanimous vote of the State Transportation Board in 2015. McMurry graduated cum laude from Georgia Southern University with a bachelor’s degree in civil engineering technology and is a registered professional engineer in the state of Georgia. Jim Tymon, executive director of AASHTO, hailed the election of Eucalitto and McMurry and lauded both for their longstanding commitment to AASHTO, as well as for their complimentary vision for the future of transportation. “We are excited to welcome incoming AASHTO president Eucalitto and vice president McMurry as they take on these vital leadership roles within our organization,” said Tymon. “These accomplished transportation leaders bring a wealth of knowledge that will benefit state DOTs nationwide and assist AASHTO in enhancing safety for all while working on the reauthorization of the IIJA.”

JB Hunt announces major changes to executive roster

Dana Guthrie - November 4, 2024

LOWELL, Ark. — J.B. Hunt Transport Services Inc. has made a number of significant changes to its leadership in order to capture additional market share and greater returns on its investments, according to a company press release. “We are in a position to deliver exceptional value for our customers and shareholders throughout our full suite of services, and these changes align the strengths and experience of our executives to lead and grow these services into the future,” said Shelley Simpson, president and CEO. “As we navigate current market dynamics and prepare for a return to more normal seasonal demand patterns, we anticipate a large addressable opportunity to capture additional market share and see greater returns on our strategic investments.” Nick Hobbs will become president of Highway and FMS, in addition to remaining COO. As president of Highway Services, Hobbs will oversee the company’s Integrated Capacity Solutions (ICS) and Truckload (JBT) business units. His steady and disciplined approach led DCS and FMS to premier status as providers for private fleet replacement and big and bulky services. Hobbs recently celebrated 40 years with the company. As COO, Hobbs will continue to collaborate with all division operators to align the company’s Customer Value Delivery efforts across our organization and oversee the company’s maintenance and safety performance, led by Greer Woodruff, EVP of Safety, Sustainability and Maintenance. Eric McGee and Brian Webb will remain in their current roles as EVP of Highway Services and EVP of FMS, respectively, and support Hobbs in the leadership of these business units. Brad Hicks will assume the role of president of Dedicated Contract Services, having spent more than 25 years working across the company’s DCS segment, and will focus on expanding the business unit’s future market size opportunity. Previously serving as President of Highway Services, Hicks also served as executive vice president of DCS from 2017 to 2020, strengthening relationships with existing customers and driving new business opportunities. In his role as EVP of People, he also led the company’s efforts to support employees through enhancements to our wellness and benefits, career growth and an inclusive culture. Hicks has 28 years of experience with the company. David Keefauver has been named EVP of People, bringing his people-first mindset to a new role and driving greater efficiencies across the organization’s personnel groups. Previously EVP of DCS, Keefauver has consistently leveraged his extensive operations experience, people leadership skills and focus on operational excellence to drive new growth. His leadership across DCS served customers with specialized equipment, qualified drivers and unmatched market density. Beginning his career with the company as a manager trainee, Keefauver has over 29 years of experience at J.B. Hunt. The new positions will be effective Dec. 1. All three executives will report to President and CEO Shelley Simpson. “As we prepare for an eventual turn in the freight market, we have focused our entire organization on being operationally excellent and scaling our long-term investments to enable our company to generate appropriate returns that deliver shareholder value. The strength and resiliency of our organization is supported by our mode neutral approach and the consistency, tenure and expertise of our people and executive leadership team, and these moves address the potential we see across the company as we move into 2025,” Simpson said.

WM says acquisition of Stericycle will expand environmental solutions

Dana Guthrie - November 4, 2024

HOUSTON, Texas — WM has completed its acquisition of Stericycle Inc. for the purchase price of $62.00 per share in cash which represents a total enterprise value of approximately $7.2 billion. “I am pleased to welcome the talented Stericycle team to WM,” said Jim Fish, president and chief executive officer, WM. “The completion of this acquisition advances our growth strategy, builds on our sustainability initiatives, and aligns with our long-term financial goals. This acquisition provides a complementary business platform in medical waste, a sector with attractive near- and long-term growth dynamics, and in secure information destruction services to further our leading suite of comprehensive waste and environmental solutions. Importantly, with its strong long-term business profile and our ability to enhance the projected financial outlook of the business through customer-centric growth and projected run-rate cost synergies exceeding $125 million, this acquisition positions us well to strengthen our operating EBITDA and cash flows. This achievement would not be possible without the dedication of our integration teams, which have been led by Rafa Carrasco, who will also lead our new WM Healthcare Solutions division comprised of the regulated medical waste and secure information destruction businesses.” According to a media release, as part of WM, the regulated medical waste and secure information destruction businesses will benefit from a range of synergies, including leveraging WM’s expertise in logistics, technology-enabled cost optimization, and its leading waste disposal network, among others. Beginning Nov. 4, Stericycle stock will no longer be traded on the NASDAQ. “With today’s announcement, WM is well-positioned to win in the growing medical waste industry and deliver tailored and effective solutions in secure information destruction that further our sustainability leadership,” said Rafa Carrasco, senior vice president, enterprise strategy, WM, and president, WM Healthcare Solutions division. “We look forward to delivering on the compelling strategic and financial benefits of the combined business while protecting the health, safety and well-being of the communities we serve.”

Finding strength in unity with TCA President Jim Ward

Truckload Authority Staff - November 4, 2024

Jim Ward, president of the Truckload Carriers Association, shares his thoughts on this year’s Fall Business Meetings and Call on Washington. The challenges facing our industry — from regulatory pressures to workforce shortages — are significant, but they are not insurmountable when we come together with a unified voice. That voice was booming during the Truckload Carriers Association’s (TCA) Fall Business Meetings and Call on Washington in September. Our Fall Business Meetings kicked off with robust discussions among TCA’s committees, where we refined the policy agenda that will guide our advocacy efforts in the coming year. Each committee’s work helps ensure that TCA is advocating on behalf of all its members, from small fleets to the largest carriers in North America. The power of collaboration was on full display, not only in a morning jam-packed with committee meetings, but also throughout a revamped afternoon schedule that focused on providing attendees with education and insights that can only come from Inside the Beltway. Peer-to-peer collaboration within the industry is an essential component of association membership — but perhaps the most important collaboration takes place when we reach beyond our peers and seek common ground and reasoning with those on the outside looking in. We were honored to host Alejandra Nunez, deputy assistant administrator for Mobile Sources at the Environmental Protection Agency for a frank discussion on current and future emission regulations coming from the agency. We greatly appreciate her time and willingness to take hard questions from the audience and hear our industry’s concerns. Our advocacy also extended beyond trucking as we joined forces with leaders from other associations for a panel discussion. Representatives from the National Industrial Transportation League (NITL), the Transportation Intermediaries Association (TIA) and the Retail Industry Leaders Association (RILA) discussed the overlapping challenges we face in supply chain management, regulatory compliance and market fluctuations. The takeaway? The trucking industry doesn’t operate in isolation, and when we collaborate with others in the supply chain, our influence multiplies. There is great strength in cross-industry cooperation. This panel underscored the value of working together to address our shared concerns. TCA’s Call on Washington brought that spirit of collaboration directly to Capitol Hill, and it was a record-breaking success. With the largest attendance in the meeting’s history and 101 congressional meetings, we sent a clear message to lawmakers: The trucking industry is unified and engaged. Members advocated for issues such as truck parking, hair testing and realistic environmental goals as well as local issues within their districts. Our meetings didn’t stop with Congress. We also engaged with the Federal Motor Carrier Safety Administration and the Canadian Embassy, addressing key issues that span both regulatory bodies and borders. The message is clear: When TCA members show up, we make an impact. But we need even more of you to join us next year. Advocacy isn’t just for the largest fleets or the most experienced executives; every voice strengthens our message. Whether you run a small fleet or a national carrier, your participation is crucial in pushing our industry forward. As we move forward, let’s continue to harness the power of advocacy and collaboration. Together we can ensure that TCA remains the leading voice for the trucking industry in North America. Let’s build on the momentum of this year and make an even greater impact in the months to come. I look forward to seeing even more of you at next year’s Fall Business Meetings and Call on Washington.

U.S. Bank Freight Payment Index reveals decline in truck volume and spend, but at slower pace

Dana Guthrie - November 3, 2024

MINNEAPOLIS, M.N — Truck freight shipments and spending continued to contract in the third quarter, albeit at a slower pace than earlier this year, according to the latest U.S. Bank Freight Payment Index. “The latest data continues to show some positive developments for the freight market. However, there remain sequential declines nationwide, and in most regions,” said Bobby Holland, U.S. Bank director of freight business analytics. “Over the last two quarters, volume and spend contractions have lessened, but we’re waiting for clear evidence that the market has reached the bottom.” According to a media release, shipments were down 1.9% compared to the previous quarter while spending dropped 1.4%. This was the ninth consecutive quarterly decrease in volume, but the smallest drop in more than a year. The third quarter again highlighted the value of examining truck freight conditions by region, where conditions varied greatly. In the West, spending was up 4.4% over the previous quarter and volume increased 1.1%. Meanwhile, in the Southeast spending declined 3.3% and shipments were down 3.0%. “It’s a positive sign that spending contracted less than shipments. With diesel fuel prices lower, the fact that pricing didn’t erode more tells me the market is getting healthier,” said Bob Costello, senior vice president and chief economist at the American Trucking Associations. Data National Data Shipments Linked quarter: -1.9% Year over year: -21.2% Spending Linked quarter: -1.4% Year over year: -21.3% Regional Data West Shipments Linked quarter: 1.1% Year over year: -10.9% Spending Linked quarter: 4.4% Year over year: -18% Stronger West Coast port volumes boosted truck freight levels. This marked the first time shipments have risen for two consecutive quarters in the West since 2021. The West also had by far greatest increase in truck freight spending during the third quarter. Southwest Shipments Linked quarter: -7.2% Year over year: -28.6% Spending Linked quarter: 0.1% Year over year: -19.8% Among regions, the Southwest had the largest quarterly decline in volume (-7.2%). This follows a 13.6% drop in the second quarter. Weaker economic activity – including the impacts of Hurricane Beryl – dampened truck freight activity in the region. Midwest Shipments Linked quarter: 0.3% Year over year: -19.2% Spending Linked quarter: -3.0% Year over year: -22% Positive housing starts in the Midwest helped boost truck freight shipments modestly during the third quarter. Spending, meanwhile, dropped for the third consecutive quarter. Northeast Shipments Linked quarter: -2.8% Year over year: -25.4% Spending Linked quarter: -2.5% Year over year: -27.7% This quarter’s contraction followed a 2.7% increase in shipments in the second quarter. Economic activity in the region has been mixed, with increases in residential construction but lower retail sales. Southeast Shipments Linked quarter: -3.0% Year over year: -23.1% Spending Linked quarter: -3.3% Year over year: -20.8% Spending on truck freight in the Southeast declined by the most among regions on a quarterly basis. The drop was due to falling volumes as well as lower fuel costs. According to the release, the U.S. Bank Freight Payment Index measures quantitative changes in freight shipments and spend activity based on data from transactions processed through U.S. Bank Freight Payment, which processes more than $42 billion in freight payments annually for shippers and carriers across the U.S. The Index insights are provided to U.S. Bank customers to help them make business decisions and discover new opportunities. To see the full report including in-depth regional data, visit the U.S. Bank Freight Payment Index website.

TRAC wins accolade as one of the best places for women to work in transportation

Dana Guthrie - November 3, 2024

PRINCETON, N.J. — TRAC Intermodal has been named as a 2024 Top Company for Women to Work for in Transportation by Redefining the Road magazine, the official magazine of the Women In Trucking Association (WIT). “Receiving this award for the second year in a row is truly an honor, but it’s especially meaningful because it’s driven by the voices of our employees,” said Laura Reeder, EVP and chief human resources officer. “At TRAC, we are committed to creating a workplace where women thrive, innovate, and lead in the transportation industry. This recognition affirms that we are on the right path, and we will continue to champion a culture of inclusion, empowerment, and opportunity for everyone.” This year’s award marks the second straight year in which TRAC has earned this recognition. According to a press release, the selection criteria for this honor included a company’s culture of work/life balance, training and professional development, compensation and benefits, gender diversity and career advancement opportunities. An industry-wide vote of more than 27,000 transportation professionals selected winners from among the nominated companies. The list of “2024 Top Company for Women to Work for in Transportation” is comprised of a diverse range of business sectors in the commercial freight transportation marketplace, including motor carriers, third-party logistics companies, and original equipment manufacturers. For the full list of Women In Trucking’s 2024 Top Companies for Women to Work For in Transportation, visit: https://www.womenintrucking.org/press-releases/women-in-trucking-association-names-2024-top-companies-for-women-to-work-in-transportation

Strong execution drives success: CH Robinson reports significant year-over-year increase in profitability

Dana Guthrie - November 2, 2024

EDEN PRAIRIE, Minn. — C.H. Robinson Worldwide Inc. reported positive financial results for the quarter ended September 30. “I’m pleased with our third quarter results that reflect continued improvement in our execution, as we continue to deploy our new operating model,” said Dave Bozeman, president and CEO. “We are raising the bar, even in a historically prolonged freight recession, with strong execution and disciplined volume growth across divisions while delivering exceptional service for our customers and carriers. I want to thank our people, one of our greatest competitive advantages, for their relentless efforts to embrace our new operating model and execute in a fit, fast and focused way so we can keep pushing that bar higher.” Third Quarter Highlights: Significant year-over-year increase in profitability, driven by strong execution, disciplined volume growth and improvement in gross profit, productivity and operating leverage Gross profits increased 15.5% to $723.8 million Income from operations increased 58.7% to $180.1 million Adjusted operating margin increased 660 basis points to 24.5% Adjusted operating margin, excluding restructuring and loss on divestiture, increased 1,120 basis points to 32.9% Diluted earnings per share (EPS) increased 17.6% to $0.80 Adjusted EPS increased 45.5% to $1.28 Cash generated by operations decreased by $97.2 million to $108.1 million provided by operations, due to an increase in net operating working capital related to higher ocean rates In a company media release, Bozeman noted that due to a focus on constantly testing market conditions and optimizing yield, the company improved the quality of our volume in the third quarter and continued to expand our NAST gross profit margin. The company also continued to push its efficiency to higher levels in both NAST and Global Forwarding, and remains on track to deliver greater than 30% compound growth in productivity over the two-year period from the end of 2022 to end of 2024. “Our new operating model has changed how we discover and inspect root cause issues and quickly implement countermeasures to improve the level of our operational execution,” Bozeman said. “The reliability of our operating reviews continues to increase, as we leverage our data rich environment to inform our decision making and enhance our competitive differentiation. At an organizational level, we continue to cascade the operating model deeper into the organization and build operational muscle at various levels of the enterprise to deliver on our strategic roadmap. As part of this effort, an evolving toolkit is being used by our employees in the form of problem resolution, balanced scorecard reviews, daily management, and value stream mapping, to name a few.” Summary of Third Quarter of 2024 Results Compared to the Third Quarter of 2023 Total revenues increased 7.0% to $4.6 billion, primarily driven by higher pricing and volume in our ocean services, partially offset by lower pricing and volume in truckload services. Gross profits increased 15.5% to $723.8 million. Adjusted gross profits increased 15.8% to $735.3 million, primarily driven by higher adjusted gross profit per transaction in our ocean and truckload services. Operating expenses increased 6.5% to $555.1 million. Personnel expenses increased 5.2% to $361.6 million, primarily due to higher variable compensation, partially offset by cost optimization efforts. Average employee headcount declined 9.6%. Other selling, general and administrative (“SG&A”) expensesincreased 8.9% to $193.6 million, primarily due to a $57.0 million loss on the planned divestiture of our Europe Surface Transportation business. The prior year included $21.4 million of restructuring expenses, primarily related to the divestiture of our operations in Argentina. In addition, other SG&A expenses decreased across several expense categories in the current year. Income from operations totaled $180.1 million, up 58.7% due to the increase in adjusted gross profits, partially offset by the increase in operating expenses.Adjusted operating margin of 24.5% increased 660 basis points. Interest and other income/expense, net totaled $36.3 million of expense, consisting primarily of $22.1 million of interest expense, which increased $0.2 million versus last year, and a $15.1 million net loss from foreign currency revaluation and realized foreign currency gains and losses. The effective tax rate in the quarter was 32.4%, compared to 11.7% in the third quarter last year. The higher rate in the third quarter of this year was driven by the impact of higher pre-tax income and non-recurring discrete items in the quarter, partially offset by increased tax benefit related to stock-based compensation and higher U.S. tax credits. Net income totaled $97.2 million, up 18.6% from a year ago. Diluted EPS of $0.80 increased 17.6%. Adjusted EPS of $1.28 increased 45.5%. “Empowering our people with the Robinson operating model is creating a flywheel of performance, talent development and accountability that is evolving our culture to be driven by progress, execution and proactive problem identification and resolution,” Bozeman said. “This is showing up in improvements such as more disciplined pricing and better decisions on the volume that we’re seeking. We are still early in our journey, but the operating model is helping us execute a solid strategy even better, and we expect further improvement as our team continues to embrace this new way of operating. As I’ve said before, I know from my past experiences of implementing Lean operating models that improvement isn’t always linear. But I’m confident in the team’s willingness and ability to drive a higher and more consistent level of discipline in our operational execution.”

STG Logistics gets a boost by promoting two key executives

Dana Guthrie - November 2, 2024

CHICAGO, Ill. — STG Logistics has promoted Troy Tibbetts to the role of COO and Salvatore DiDonato to executive vice president and CIO with both leaders expected bring significant logistics and supply chain experience to their new roles, as well as a deep understanding of the depth and breadth of STG Logistics as an organization. “Our ability to promote from within showcases the strength of our team,” said Geoff Anderman, STG Logistics president and COO. “Troy and Salvatore’s leadership will be instrumental in driving new ideas, strengthening collaboration and positioning us for future success.” Tibbetts, previously the executive vice president of sales and marketing at STG Logistics, steps into his new role with over 20 years of leadership experience in transportation and logistics. “We’re creating something unique here at STG, with a strong focus on growing our business and continually enhancing the value we deliver to our customers,” Tibbetts said. According to a company press release, Tibbetts has been a pivotal leader across both operations and sales, contributing significantly to the growth and success of industry-leading organizations. Prior to joining STG through the acquisition of XPO’s Intermodal division, he held key leadership roles at XPO Logistics and AP-Moller Maersk, where he honed his expertise in complex logistics and operational excellence. DiDonato, executive vice president and CIO, has been with STG Logistics for nearly a decade. His leadership is instrumental in aligning the company’s business initiatives with its strategic objectives, according to the release. Before joining STG, DiDonato held key leadership roles at Xaxis, Verisk Analytics, and Lineage Logistics. “I’m excited to continue collaborating across our product lines and focus on optimizing our technology platforms to enhance our port-to-door services,” DiDonato said.

Pars for a Purpose: Arpin Strong Golf Tournament surpasses $2 million in donations for over 345 charities since 2013

Dana Guthrie - November 2, 2024

WEST WARWICK, R.I. – The Arpin Charitable Fund’s 10th annual Arpin Strong Golf Tournament / Bob Sullivan and Mark Dearborn Memorial exceeded all expectations raising $22,900 for charity and surpassing $2M in donations to over 345+ charities since 2013. Arpin Strong’s board members held the company’s largest annual fundraising event on September 27 at the New England Country Club in Bellingham, MA. The tournament champions awareness and charitable investment for its primary beneficiaries, and this year’s proceeds supported A Wish Come True, Save The Bay, Global Institute For Transformation, KCNT1 Epilepsy Foundation, and Marguerite’s Place. “These five remarkable organizations embody the mission we strive to fulfill, and we’re proud to extend our support,” said Michael Killoran, Arpin Strong’s president and treasurer. According to a company press release, The Arpin Charitable Fund, also known as Arpin Strong, is a 501(c)(3) organization dedicated to addressing pressing social issues and advancing impactful ESG initiatives worldwide. Representatives from several beneficiary organizations attended, offering golfers firsthand insights into the transformative impact their support would bring. Among them were Mary-Kate O’Leary, executive director of A Wish Come True and Timothy Maurer from the Global Institute for Transformation (GIFT), who shared with the attendees how funds raised would be used to help support children and families with life threatening illnesses and those living in impoverishment. The release noted that sponsors from the Americas, EMEA, and APAC regions came together, demonstrating the event’s broad appeal and purpose. “We are immensely grateful for the steadfast support of our sponsors, donors, golfers, volunteers, and friends, who make this event possible year after year,” said Karen Bannon, Arpin Strong’s vice president, Karen Bannon. “Their dedication fuels our mission and brings our community together.” The company also gave thanks to its platinum-level sponsors, including Cardi’s Furniture & Mattresses, Citrin Cooperman Accountants & Advisors, Courtney International Forwarding, The Mellor Agency, AMJ Campbell, UNIRISC, and Move One, whose contributions made this year’s event possible.

Averitt’s commitment to diversity: Ranked as top company for women to work in transportation

Dana Guthrie - November 2, 2024

COOKEVILLE, Tenn. — For the 4th consecutive year, Averitt has been named one of the “Top Companies for Women to Work in Transportation” by the Women in Trucking Association. “Whether it’s driving on the road, working in operations, or serving in leadership, we’re dedicated to offering women a variety of career paths,” said Elise Leeson, vice president of human resources at Averitt. “This recognition affirms that our efforts to create an inclusive and supportive workplace are being noticed across the industry.” According to a company media release, the recognition is featured in WIT’s Redefining the Road magazine. The annual list recognizes companies that offer a positive workplace culture, promote career development opportunities, and encourage the advancement of women in the transportation industry. “Averitt continues to lead the way by providing a supportive environment where all associates can grow and succeed and aims to build on WIT’s mission by providing women with a safe, stable, team-oriented culture,” the company said in the release. “Among the many ways it accomplishes this is through state-of-the-art facilities, dynamic safety features on its tractors, and safe parking. Averitt also has a Driver Services staff based at its corporate headquarters to help driving associates with any questions they may have, as well as on-site Driver Support Specialists at facilities throughout its network for one-on-one assistance.” For more information about the Women In Trucking association, visit www.WomenInTrucking.org.

‘Never be intimidated to do this job’ says Dana Tarver, WIT November Member of the Month

Dana Guthrie - November 1, 2024

ARLINGTON, Va. — The Women In Trucking Association (WIT) has named Dana Tarver as its November 2024 Member of the Month for her stellar career and dedication to the industry. Tarver is a fuel hauler for Kenan Advantage Group (KAG), a leading specialized transportation and logistics provider across a range of diversified end markets in the United States and Canada. “In 1995, driven by tenacity and a willingness to embrace challenges head-on, Tarver began her career in the trucking industry at the age of 25,” WIT said in a media release. “Today, she consistently demonstrates thoroughness and punctuality, adheres to all company policies and is guided by her personal motto – do it right the first time. Tarver serves as an exemplary illustration of the valuable contributions a successful driver can make as her pride in herself, her role and her company shines through her daily trips.” According to WIT, with a passion for safety, Tarver meticulously maintains her equipment, takes all necessary precautions and values mentoring others on the subject. She takes great pride in fellow professional drivers calling her for advice and guidance on the road. Through trucking, Tarver has carved out a fulfilling career for herself that provides job security and allows her to enjoy time with family and friends without stress or exhaustion, knowing she is well taken care of. She encourages other women not to be intimidated by the male-populated industry and to recognize the opportunities for growth and success available within it. Tarver is a champion for other women navigating a career path in the trucking industry saying, “never be intimidated to do this job. What’s for you will be for you if you always put safety first. When in doubt, stop and ask somebody.”

XPO delivers on strong results promised for 2024

Dana Guthrie - November 1, 2024

GREENWICH, Conn. — XPO has reported diluted earnings from continuing operations per share of $0.79, compared with $0.72 for the same period in 2023, and adjusted diluted earnings from continuing operations per share of $1.02, compared with $0.88 for the same period in 2023. “We reported strong year-over-year earnings growth in the third quarter, as we continued to improve the business in a soft freight environment,” said Mario Harik, chief executive officer of XPO Companywide. “We increased adjusted EBITDA by 20% and adjusted diluted EPS by 16%. According to Harik, in North American LTL, the company grew adjusted operating income by 17% and achieved an adjusted operating ratio of 84.2% — 200 basis points better than the prior year, at the high end of its target range. XPO drove yield, ex-fuel, higher by 6.7% and increased revenue per shipment by 6.6%, underpinned by pricing gains. In addition, the company generated stronger operating leverage on its top-line growth by managing variable costs more effectively with its proprietary technology. XPO is tracking three years ahead of plan with linehaul insourcing, which enhances its network efficiency and quality of service. “We’re delivering on the strong results we promised for 2024, while positioning the business to accelerate earnings growth when the freight market recovers,” Harik said. “The world-class service we provide creates value for our customers and will continue to be a key driver of our margin expansion.” Third Quarter Highlights According to a company media release, for the third quarter 2024, the company generated revenue of $2.05 billion, compared with $1.98 billion for the same period in 2023. The year-over-year increase in revenue was due primarily to higher yield in the North American LTL segment and volume growth in the European Transportation segment. Operating income was $176 million for the third quarter, compared with $154 million for the same period in 2023. Net income from continuing operations was $95 million for the third quarter, compared with $86 million for the same period in 2023. Diluted earnings from continuing operations per share was $0.79 for the third quarter, compared with $0.72 for the same period in 2023. Adjusted net income from continuing operations, a non-GAAP financial measure, was $122 million for the third quarter, compared with $105 million for the same period in 2023. Adjusted diluted EPS, a non-GAAP financial measure, was $1.02 for the third quarter, compared with $0.88 for the same period in 2023. Adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), a non-GAAP financial measure, was $333 million for the third quarter, compared with $278 million for the same period in 2023. The company generated $264 million of cash flow from operating activities in the third quarter and ended the quarter with $378 million of cash and cash equivalents on hand, after $123 million of net capital expenditures. North American Less-Than-Truckload (LTL): The segment generated revenue of $1.25 billion for the third quarter 2024, compared with $1.23 billion for the same period in 2023. On a year-over-year basis, shipments per day decreased 3.2%, tonnage per day decreased 3.9%, and yield, excluding fuel, increased 6.7%. Including fuel, yield increased 3.7%. Operating income was $188 million for the third quarter 2024, compared with $161 million for the same period in 2023. Adjusted operating income, a non-GAAP financial measure, was $198 million for the third quarter, compared with $170 million for the same period in 2023. Adjusted operating ratio, a non-GAAP financial measure, was 84.2%, reflecting a year-over-year improvement of 200 basis points. Adjusted EBITDA for the third quarter 2024 was $284 million, compared with $241 million for the same period in 2023. The 18% increase in adjusted EBITDA was due primarily to higher yield, excluding fuel, and lower purchased transportation costs year-over-year, partially offset by lower fuel surcharge revenue. European Transportation: The segment generated revenue of $803 million for the third quarter 2024, compared with $752 million for the same period in 2023, primarily driven by volume growth. Operating income was $6 million for the third quarter, compared with $8 million for the same period in 2023. Adjusted EBITDA was $44 million for both the third quarter 2024 and the same period in 2023. Corporate: The segment generated an operating loss of $18 million for the third quarter 2024, compared with a loss of $15 million for the same period in 2023. Adjusted EBITDA, a non-GAAP financial measure, was $5 million for the third quarter 2024, compared with a loss of $7 million for the same period in 2023, including a benefit of $9 million from a gain on a past investment in a private company that was sold in the quarter.

The future arrives: Torc Robotics performs fully autonomous product validation

Dana Guthrie - November 1, 2024

BLACKSBURG, Va. — Torc Robotics, an independent subsidiary of Daimler Truck AG and a pioneer in commercializing self-driving vehicle technology, has successfully performed advanced validation of the company’s autonomous trucks without a driver in a multi-lane closed-course environment earlier this year. “Artificial intelligence has undoubtedly been the biggest buzzword of the year, but real-world uses are few and far between. Autonomous trucking is one of the most concrete applications for AI that can drive demonstrated revenue, business value and industry transformation – and Torc is at the forefront of creating an autonomous solution with safety, scalability and cost efficiency top of mind,” said CJ King, Torc CTO. “With our long-standing tenure in the autonomous space, this milestone reinforces Torc’s safety-focused commitment to driving the future of freight.” According to a media release, the tests were conducted at full operating speed of up to 65 mph to optimize fuel efficiency, Torc’s driverless product acceptance test underscores Torc’s evolution to productization, positioning the company to scale and commercialize safe, robust autonomous trucking solutions by 2027. Unlike a demo, this milestone highlights Torc’s entry into scalable product release, with the company’s applied artificial intelligence (AI) technology, system architecture, production-intent embedded hardware and safety engineering converging to shape a product that prioritizes true software best practices and safer roadways for all. “This is a key moment in our mission to build a profitable, scalable business as the world’s leading autonomous solution,” said Peter Vaughan Schmidt Torc CEO. “We observed impressive reliability in our repeated driverless runs, which leveraged Torc’s unparalleled embedded and integrated platform on Daimler Truck’s Freightliner Cascadia. We look forward to unlocking the full value of autonomous driving software for customers who prioritize safety, operations costs, ease of use and reliability.” According to the release, the product validation milestone exemplifies Torc’s commitment to rigorous safety and maturity standards, marking a critical step from advanced engineering and development to full productization on a unified, embedded platform.

ACT Research: CDL downgrades set to reduce TL capacity

Dana Guthrie - November 1, 2024

COLUMBUS, Ind. — The key theme ACT Research been highlighting for more than a year now is the insourcing of freight from the for-hire market to private fleets — which has perhaps been the defining feature extending the soft freight cycle in an economy that has surpassed expectations — but that is nearing an end, according to the latest release of the Freight Forecast: Rate and Volume OUTLOOK report. “Lower equipment supply, particularly by private fleets, may play a key role in a market turn in 2025, in our view,” said Tim Denoyer, ACT Research’s vice president and senior analyst. “And (in mid-November), an FMCSA regulation could potentially downgrade tens of thousands of CDL holders in states who have not heretofore been required to enforce the FMCSA’s Drug & Alcohol Clearinghouse. While difficult to quantify, when state driver’s license authorities downgrade a large number of CDLs on Nov. 18, it should have two positive effects on the industry: making our roads safer and leading truckload rates higher.” According to an ACT Research press release, the DAT load/truck ratio is not exactly a scale of 1 to 10. It can go past 11. It reached the mid-teens in 2017 and early 2018 and the high teens during 2021, peaking above 20. Our aggregated seasonally adjusted DAT load/truck ratio broke above 7 in early October, suggesting spot rates will rise modestly in the near term. “But the equipment capacity rebalancing needed to drive rates higher in 2025 is not here yet,” Denoyer said. For a breakdown of the changes coming to the Drug and Alcohol Clearinghouse, check out this commentary by trucking attorney Brad Klepper.