Weaker Freight Rates, Brokerage Gross Margin Hurt RXO Profits

By |2023-08-03T12:19:50-05:00August 2nd, 2023 at 8:18 AM|Trucking News|

Volume grew by 10% year-over-year at RXO’s brokerage business in the second quarter, CEO Drew Wilkerson said. (RXO) Lower freight rates, a moderation in brokerage gross margin and the cost of operating as a stand-alone public company hurt profits at RXO Inc. in the second quarter of 2023. Asset-light transportation provider RXO reported second-quarter 2023 ...more

TFI Q2 Profit Dips by More Than 50% on Lower Freight Volumes

By |2023-08-03T12:19:54-05:00August 2nd, 2023 at 5:09 AM|Trucking News|

TFI International operates TST Overland Express. TFI reported revenue of $1.79 billion in the most recent three-month period, compared with $2.42 billion in the prior-year period. (TFI International) Profits at TFI International Inc. more than halved in the second quarter of 2023 to $128.2 million from $276.8 million in the year-ago period, the company said, ...more

Plan to Restock Emergency Oil Reserve Put on Hold

By |2023-08-03T12:19:58-05:00August 2nd, 2023 at 5:01 AM|Trucking News|

President Joe Biden speaks to reporters before entering a car on Aug. 2. (Manuel Balce Ceneta/Associated Press) WASHINGTON — The Biden administration is delaying plans to restock the nation’s emergency oil reserve amid a price hike that has pushed oil above $80 a barrel. The Energy Department canceled a planned purchase of 6 million barrels ...more

Amazon Fresh Offers Grocery Delivery to Non-Prime Members

By |2023-08-03T09:00:15-05:00August 2nd, 2023 at 1:36 AM|Trucking News|

An Amazon Fresh store in Warrington, Pa. (Matt Rourke/Associated Press) NEW YORK — Amazon has begun offering its Fresh grocery delivery service to customers who aren’t Prime members. The initial rollout will only be available in a dozen cities, including Boston, Phoenix, Dallas and San Francisco, the company told customers Aug. 2 in an emailed ...more

Senate EPW Approves Diesel Emissions Bill

By |2023-08-03T09:00:22-05:00August 2nd, 2023 at 1:16 AM|Trucking News|

DERA funding is meant to facilitate the voluntary replacement or installation of retrofits on existing heavy-duty diesel vehicles and engines. (Wisconsin Department of Transportation) A bill that updates the Diesel Emissions Reduction Act through fiscal 2029 was recently approved by a committee in the U.S. Senate. The bipartisan measure is designed to promote health benefits ...more

VIDEO: Car driver makes wildly dangerous U-turn right into the path of a semi truck

By |2023-08-10T19:29:31-05:00August 2nd, 2023 at 12:00 AM|Trucking News|

A trucker’s dash cam captured an excruciatingly close call with a clueless car driver who made a U-turn in the worst possible spot.The video was captured in Oklahoma on August 1, 2023, and shared by Reddit user u/Wham-alama-ding-dong.In the video, you can see that the dash cammer is doing 76 m.p.h. in the right lane. ...more

Go to Top