Daily Infographic: How does the Highway Trust Fund work?
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April 28, 2021
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$70K for part-time driver? Covenant CEO says that could be fine for some
David Parker is the CEO of Covenant Logistics (NASDAQ: CVLG), and he was blunt with analysts who follow the company on its earnings call Tuesday. “How do we get enough drivers?” he said in response to a question from Stephens…
April 28, 2021
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Ag industry’s letter to Buttigieg urges immediate action on export problem
The U.S. agriculture industry is pressuring the Department of Transportation for immediate intervention in foreign-owned carriers’ denial of U.S. ag exports in favor of sending back empty containers to be filled with Chinese exports. In a letter sent to Secretary…
April 28, 2021
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Plus One Robotics raises $33M for human-robot collaboration software
Plus One Robotics, a human-robot collaboration software company headquartered in San Antonio, has announced this week $33 million in Series B funding led by McRock Capital and Translink Capital, with participation from BMW i Ventures, Kensington Capital Partners, Perot Jain…
April 28, 2021
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Shopify revenues accelerate but growth rate to start slowing
The e-commerce boom of 2020 is continuing into 2021 and one of the first major e-tailers to announce Q1 earnings is confirming that. Shopify (NYSE: SHOP) reported total revenue in Q1 of $988.6 million, 110% growth year-over-year, powered by a…
April 28, 2021
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Arrive Logistics takes on over $300M investment led by ATL Partners
On Wednesday morning, Austin, Texas-based freight brokerage Arrive Logistics announced that ATL Partners, a New York City-based private equity firm focused on aerospace, transportation and logistics, led a funding round of more than $300 million to become Arrive’s largest minority…
April 28, 2021
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The Daily Dash: Trucking’s Q1 earnings
The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight the bullish news from the Q1 earnings season, latest reports from Tesla and UPS and more. The High Five 1. While…
April 28, 2021
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Weather impacts but doesn’t derail Saia’s Q1
Less-than-truckload carrier Saia (NASDAQ: SAIA) reported first-quarter earnings per share of $1.40, 3 cents higher than the consensus estimate and 34 cents higher than the first quarter of 2020. The Wednesday press release noted the tax rate was 140 basis…
April 28, 2021
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Flash flood threat looms for truckers in several states
Intense thunderstorms will continue to drench places from Texas to southern Ohio over the next couple of days. The torrential rains could stop some truckers in their tracks, leading to possible ramp/road closures. A frontal system will slowly drift across…
April 28, 2021
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Norfolk Southern achieves all-time quarterly operating ratio record
Norfolk Southern (NYSE: NSC) reached an all-time quarterly record operating ratio (OR) in the first quarter amid a 7% increase in operating income. Norfolk Southern’s (NS) OR was 61.5% in the first quarter of 2021, compared with an adjusted OR…
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