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Freight Waves

Broker Echo Global Logistics exits on a high

Freight broker Echo Global Logistics rides a hot transportation market one last time, publicly at least, to beat third-quarter estimates on Tuesday. The company reported adjusted earnings of 93 cents per share, 20 cents ahead of consensus and more than…

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Record parts and lending buoy Paccar’s Q3 results

Paccar Inc. rode record parts sales and higher used truck prices to higher Q3 revenues and a slight decline in profits — its first miss at beating analysts’ estimates for earnings per share in a year. The Bellevue, Washington-based parent…

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Severe storms to threaten 3 regions in 3 days

A powerful storm that dumped heavy snow and flooding rain in the Cascades and Sierra Nevada earlier this week is heading toward the nation’s heartland. Mother Nature can be snow flaky this time of year. Check out the heavy snow…

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Canada ELD tester investigated over claims it certified faulty device

Transport Canada is investigating allegations that an electronic logging device was certified for use despite not meeting the country’s technical standards, including flaws that could allow truck drivers to falsify hours of service, FreightWaves has learned.  The investigation is targeting…

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GXO opens e-commerce hub for Saks

GXO Logistics has announced a second major retailer this month is using its logistics services to fulfill e-commerce orders. The logistics spinoff from XPO is now shipping inventory direct to consumers for Saks from a GXO e-fulfillment center in Middletown,…

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Canada’s XTL acquires Georgia freight brokerage CBT

Cross-border trucking and logistics firm XTL Group has acquired Georgia-based freight brokerage CBT, creating the Canadian firm’s first U.S.-based operation.  The acquisition, announced Monday, gives Toronto-based XTL a brokerage focused on serving the food service industry, and poultry and egg…

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DOE/EIA diesel price now up 30 cents in a month

With the latest increase in the Department of Energy/Energy Information Administration average weekly retail diesel price, the benchmark used for fuel surcharges has tacked on more than 30 cents per gallon in just four weeks. The increase of 4.2 cents…

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