This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Dive Brief: Temperature-controlled food carrier Nagle Cos. is expanding its refrigerated trucking services with the acquisition of Kandel Transport, according to an Aug. 25 press release. Together, the combined Ohio-based operation will have 115 tractors, 200 trailers and an expected annual revenue of approximately $45 million. Kandel Transport will retain i ...

Scaling down doesn’t mean you’ve failed. It means you’re making a hard, strategic decision to live to fight another day — and more people need to hear that truth without shame. Whether you’ve got 3 trucks or 30, the moment you realize one (or more) of them is bleeding you dry, it’s time to stop romanticizing the “fleet owner” title and start making CFO-level moves. That means asking uncomfortable questions: Can I actually afford to keep this truck on the road? What’s the cost of holding vs. the risk o ...

This Is One of the Hardest Decisions in the Business—And One of the Most Misunderstood If you’re sitting behind the wheel on your 10 hour break,  weighing whether to keep running under your own MC or lease onto someone else’s authority, you’re not alone. 2025 has put a lot of pressure on small carriers and owner-operators to reevaluate everything. Margins are tighter. Freight is slimmer. Insurance rates are through the roof. And let’s not even talk about compliance. So what do you do? Do you go all-in on ...

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) is one of the 13 Best Freight Stocks to Invest in Now. Following a new $2.5 billion credit facility and mixed second-quarter results, the company’s top executive makes a bold move. Knight-Swift Secures $2.5 Billion Credit Facility Amid Q2 Revenue Weakness On July 8, 2025, Knight-Swift Transportation Holdings Inc. (NYSE:KNX) acquires a new $2.5 billion unsecured credit facility. Replacing the previous $2.3 billion credit facility and $250 million term ...

If you’ve been sitting at a fuel island wondering when this market’s going to flip, you’re not alone. And you’re not crazy for thinking it still feels off—because it is. At a recent industry event, two heavy-hitters in trucking leadership said what many folks in our Playbook community have already been feeling in their gut: “It’s going to be a bumpy next 12 to 18 months,” —Matt Parry, SVP of Account Management, Werner Enterprises “The market isn’t likely to improve much. Costs have risen more than 5% in ...

This story was originally published on Trucking Dive. To receive daily news and insights, subscribe to our free daily Trucking Dive newsletter. Dive Brief: Tonnage in August declined year over year for Old Dominion Freight Line, XPO and Saia while ArcBest reported a 2% increase in its asset-based operating segment. Shipments per day similarly declined across most of those carriers. Companies also noted declines in weight per shipment, except for Saia posting an incremental 0.1% increase YoY. “Old Do ...

Question-and-Answer SessionSo yes, I think the debate continues on the macro and the cycle as to whether we are going into an all-mighty recession or we are going into a huge rebound. I'm sure you know the answer to that question. So if you please enlighten us, that would be amazing.Christopher WikoffExecutive VP, Treasurer & CFO Absolutely. Yes, we'll get right to the answer. No, maybe just to back up and maybe we'll just all take a bite at just overall describing the macro, at least from a demand standpoi ...

宏观经济展望 - 宏观经济周期存在争议 可能面临严重衰退或强劲反弹 [1] 业务表现 - 单向运输业务需求总体稳定且具有季节性特征 [2] - 专用运输和物流业务呈现积极增长势头 第二季度尤为明显 [2] - 专用运输业务实现车队增长 第一季度获得大量新客户跨多个垂直领域 [3] 业务实施 - 新客户实施需要时间 上个季度已开始实施并持续至第三季度 [3] - 专用运输业务可靠性恢复 趋势向好 [3]

**公司 Werner Enterprises (WERN) 电话会议纪要关键要点** **1 宏观与行业需求** - 行业需求呈现稳定和季节性特点 单程卡车运输服务(One-Way Truckload Services)需求总体稳定[2] - 专用卡车运输服务(Dedicated Truckload Services)和物流(Logistics)业务在第二季度出现积极势头并持续到第三季度[2] - 物流业务在第二季度恢复至同比中个位数增长(mid-single-digit growth) 主要由整车经纪(Truckload Brokerage)、PowerLink(经纪司机和牵引车 公司拥有拖车)和多式联运(intermodal)推动[3] - 客户已适应关税波动的"新常态" 不确定性成为日常确定性[4][9] - 消费者在非必需品(如折扣零售、食品饮料)领域保持韧性 这些品类需要持续补货[4] **2 业务部门表现与战略** - 专用卡车运输服务和物流是增长更显著的部门[12] - 物流是增长最快的部门 第二季度实现同比中个位数增长并持续[12][38] - 单程卡车运输服务在第二季度收入每总英里同比增长2.7% 并连续四个季度实现同比增长 但增幅仍较低[16] - 单程业务还支持近岸外包(墨西哥业务)并作为新客户了解公司解决方案的入口[12][13] - 专用卡车运输服务的新客户中约75%来自公司希望拓展的新垂直领域 仅25%来自集中领域(零售、食品饮料)[49] **3 定价与费率环境** - 2025年投标季已结束 平均实现低至个位数的费率增长[17] - 2026年投标季处于非常早期阶段 预计仍将是一个充满挑战的环境[16][17] - 即期费率(spot rates)在8月份有所下降 同比与一年前相似 9月份即期费率环境仍然疲软[18] **4 运力与监管影响** - 行业持续看到运力缩减 一些大型承运人退出市场(数百辆卡车规模)[20] - 英语水平测试(ELP)执法导致司机停驶数量逐月增加: 第一个月数百人 第二个月约1000人 最近30天达到约2000人[20] - 如果按最近30天的趋势年化 预计每年将有约25000名司机停驶[21] - B1签证执法有助于清除影子运力[21] - 公司ELP合规始终保持 未使用B1司机[22] **5 保险与风险管理** - 公司事故趋势(事故数、每百万英里事故率、严重性)持续下降[28] - 客户对保险成本上升的理解有所增加 特别是那些自己也感受到类似痛苦(如滑倒事故、场所责任)的私人车队客户[29] - 公司采取快速、公平解决索赔的策略 必要时也会像德克萨斯案件一样坚持诉讼[30] **6 私人车队与市场结构** - 疫情期间私人车队有所增长 这可能部分导致了单程卡车运输市场的运力问题[33][34] - 现在私人车队面临设备老化(需要资本支出)、保险问题加剧和司机招聘挑战等风险因素[34][35] - 公司看到更多私人车队转换的讨论 考虑将车队交给公司管理[36] **7 技术应用与自动化** - 物流部门运营支出(OpEx)下降9% 薪资、工资和福利下降双位数 得益于技术应用[39] - 公司正通过Werner EDGE TMS平台和其他先锋技术推进自动化 包括无接触负载预订(no-touch loads)[44][45] - 公司与Aurora等多个自动驾驶供应商合作 但当前自动驾驶卡车交付的货物量仍然很少[54][55] - 即使自动驾驶技术发展 未来十年仍需要约100万名新卡车司机以满足需求增长[55] **8 财务目标与展望** - 卡车运输服务部门(TTS)的中期目标仍是低双位数利润率[50] - 第二季度TTS调整后营业利润率为2.7%-2.8% 若剔除约100万美元的启动费用等因素 正常化后约为4%[50] - 实现目标的路径包括: 单程业务中个位数费率改善、专用业务量正常化、二手设备市场收益改善以及持续的成本控制[51] - 旺季(peak season)早期对话显示量或费率可能相似或潜在上升 但仍需更多时间确认[14][15]

If you’re sitting at a fuel island weighing whether to keep running under your own MC or lease onto someone else’s authority, you’re not alone. 2025 has put a lot of pressure on small carriers and owner-operators to reevaluate everything. Margins are tighter. Brokers are pickier. Insurance rates are through the roof. And let’s not even talk about compliance. So what do you do? Do you go all-in on building your business with your own authority—or do you cut bait, lower your overhead, and lease onto a more ...