Freight Technologies Inc. (FRGT)
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C.H. Robinson Stock Soars as Cost Controls Lift Freight Transporter's Earnings
C.H. Robinson Worldwide (CHRW) shares delivered major gains after the freight transportation and logistics firm posted better-than-expected quarterly profits, boosted by the implementation of a new, cost-efficient operating model. The second quarter of 2024 marked the second consecutive period that the supply chain specialist has exceeded earnings forecasts.
Freight demand is weak, but cost cuts help C.H. Robinson boost profits.
Shares of shipping logistics provider C.H. Robinson Worldwide Inc. rallied on Wednesday after the company reported a second-quarter adjusted profit that topped Wall Street's estimates, helped by tighter operations in its key North American transportation services.
Vita Coco: Freight Issues Create Expected Q2 Profitability Hiccup
The Vita Coco Company, Inc.'s Q2 results are expected to show moderate growth once again, but pressured margins due to temporarily high and turbulent freight costs. The 2024 hiccup in growth created by a private label deal's ending, and the freight cost hiccup, don't disturb Vita Coco's underlying strong demand momentum over the long term. The stock's valuation remains balanced ahead of Q2 earnings.
Marten Transport: On A Road To Recovery Navigating A Freight Recession
Marten Transport is a transportation and logistics company specializing in long-haul trucking and refrigerated transport services across North America. Over the last few quarters, the company has been navigating through challenging market conditions with a commitment to improving profitability. The company is well-positioned with a solid balance sheet and ample liquidity, which should bode well if the freight recession lasts longer than expected.
Old Dominion Freight Line: One Of My Favorite Dividend Growth Stocks Could Take Off
Old Dominion Freight Line, Inc. is a standout in the trucking industry with unique strengths in the less-than-truckload segment. Impressive growth, efficient operations, and strong financials have positioned Old Dominion Freight Line for continued success despite the recent stock price dip. Potential demand recovery could lead to strong returns and dividend growth, making Old Dominion Freight Line stock a promising investment opportunity.
3 Air-Freight & Cargo Stocks to Watch in a Promising Industry
Shareholder-friendly moves and cost-cutting initiatives bode well for the Zacks Transportation-Air Freight and Cargo industry. UPS, FDX and GXO are well-poised to capitalize on the bullishness.
Why Is Freight Technologies (FRGT) Stock Up 86% Today?
Freight Technologies (NASDAQ: FRGT ) stock is rocketing higher on Thursday after the transportation logistics technology company provided an update to its customers and carriers in 2024. According to a press release from Freight Technologies, it has added 26 new customers and 149 new carriers to its platform since the start of the year.
ConMet Unveils Latest Freight Efficiency Technologies at ACT Expo 2024
LAS VEGAS, NV / ACCESSWIRE / May 20, 2024 / ConMet, a leader in sustainable solutions for the transportation industry, is proud to showcase its latest freight efficiency technologies at ACT Expo 2024. From May 20-23, attendees can visit ConMet's booth, number 1220, at the Las Vegas Convention Center to explore these cutting-edge advancements. ConMet booth at ACT Expo 2024Among the impressive technologies on display are the Nmotion™ in-wheel power generators, TruckWings® active aerodynamics, PreSet Plus® wheel ends, interior and exterior plastic systems, and lightweight cast components. These technologies highlight ConMet's commitment to revolutionizing the freight industry by increasing efficiency and reducing environmental impact.The Nmotion TR series of power generators for refrigerated trailers is a game-changer for improving freight efficiency in commercial vehicles. Utilizing in-wheel electric motors, this technology generates power that can be used to operate an electric transport refrigeration unit (eTRU). As a result, refrigerated trailers can achieve zero emissions, eliminating fuel costs and CO2 output. A complete Nmotion system will be on display at ACT Expo on a Carrier Transicold Vector eCool trailer.TruckWings technology, another standout product on display, enhances freight efficiency by automatically closing the gap between the tractor and trailer at highway speeds. This innovative solution improves aerodynamics, resulting in an average 3-6% increase in vehicle efficiency, no matter the fuel source. With TruckWings, ConMet empowers fleets to achieve significant fuel savings and reduce their carbon footprint or extend the mileage range on EV trucks.A Freightliner eCascadia, provided by Knight-Swift Transportation, will be on display in the ConMet booth during ACT Expo showcasing the TruckWings product on an electric truck. ACT Expo attendees are invited to stop by and see the device in action.In addition to these groundbreaking advancements, ConMet's PreSet Plus wheel ends offer a range of benefits for the freight industry. Constructed with lightweight aluminum, these wheel ends reduce the overall weight of the vehicle, leading to increased fuel efficiency. ConMet is also taking the next step in wheel end technology, with reengineered seals and bearings to further reduce rolling resistance, enhancing vehicle efficiency even more.ConMet's commitment to sustainability is further exemplified by the use of interior and exterior plastic systems, which can replace metal components in some cases for weight reduction. Non-structural plastic parts can also be made with sustainable fillers for additional carbon offset in production.Visit booth 1220 at the Las Vegas Convention Center from May 20-23 to discover how ConMet is revolutionizing freight efficiency through its commitment to providing transformative and sustainable solutions to the commercial vehicle industry.About ConMet ConMet, a division of Amsted Industries, is a leading global provider to original equipment manufacturers and aftermarket channels in the commercial vehicle industry. From wheel ends, cast metal components, and plastic systems to zero-emission technologies, automated aerodynamic devices, and IoT solutions, ConMet helps move the industry forward. Today, ConMet products are standard equipment on most heavy-duty vehicles in North America and have a growing footprint worldwide. Contact InformationDavid Brierley Media Relations Manager [email protected] 360 409 6570 SOURCE: ConMetView the original press release on newswire.com.
April Cass Data Shows No Improvement in Freight Demand
The shipments component of the Cass Freight Index fell again in the month, down 1.6% seasonally adjusted from March and 4% lower year over year (y/y). The Tuesday data showed volumes were hovering around the late 2023-January 2024 cycle trough. The April reading was the lowest since January, which is typically the slowest part of the year and weaker than normal this year due to severe winter storms. A later Lunar New Year and the Baltimore bridge collapse were cited as detractors to demand during the month. The report also said additions to private fleets are negatively impacting results at the for-hire fleets. "Private fleets are now more actively competing for spot freight to fill empty backhauls, lengthening below-trend for-hire demand levels" the report said. The y/y comparisons for the shipments index get easier in the coming months. The forecast is for the data set to decline 3% y/y in May. A prior forecast called for the index to turn positive by June, but that appears in jeopardy now. Table: Cass Information Systems (SA – seasonally adjusted) Cass' expenditures index, which measures all dollars spent on freight including fuel surcharges and accessorial charges, fell 16.8% y/y in April and 1.9% from March on a seasonally adjusted basis. Backing out the decline in shipments implies rates were off 13% y/y in the month, which was the smallest decline in implied rates since last May. The y/y comps also get easier this summer. The index is expected to decline 16% y/y in the first half of 2024 and 10% for the full year. The Truckload Linehaul Index, which excludes changes in fuel and accessorial charges, declined 3.8% y/y but ticked 0.1% higher than the March reading. The TL rate index includes both spot and contract freight. It has largely been flat for the past year. "With spot rates steady over the past several months, downward pressure on the larger contract market is lessening, with some instances of contract rate increases bucking the downtrend recently" the report said. The linehaul index's two-year-stacked comp (to April 2022) was down more than 15%, which was the biggest decline ever recorded in the data set. "Goldilocks economic conditions of strong growth and disinflation are largely holding, a rising tide which eventually should lift all boats" the report said. "But at the moment, the freight growth being generated by the economy is being handled by railroads and private fleets." Data used in the indexes is derived from freight bills paid by Chart: (SONAR - NTIL.USA). The National Truckload Index (linehaul only – NTIL) is based on an average of booked spot dry van loads from 250,000 lanes. The NTIL is a seven-day moving average of linehaul spot rates excluding fuel. The post April Cass data shows no improvement in freight demand appeared first on FreightWaves.
