Trucking

C.H. Robinson Reports 2024 First Quarter Results

Retrieved on: 
Wednesday, May 1, 2024
Trucking, Rail, Maritime, Air, Logistics, Supply Chain Management, Transport, Other Transport, Workforce, NAST, Culture, Environment, Interest, Software, Lean, GAAP, CHRW, EPS

Robinson”) (Nasdaq: CHRW) today reported financial results for the quarter ended March 31, 2024.

Key Points: 
  • Robinson”) (Nasdaq: CHRW) today reported financial results for the quarter ended March 31, 2024.
  • "Our first quarter results and adjusted earnings per share of $0.86 reflects a change in our execution and discipline, as we began implementing a new Lean-based operating model.
  • Additionally, our first quarter truckload volume reflects growing market share, and we outpaced the market indices for the third quarter in a row," added Bozeman.
  • The effective tax rate in the quarter was 15.8%, compared to 13.5% in the first quarter last year.

Distribution Solutions Group’s Operating Company, Lawson Products, Executes a Strategic Acquisition of S&S Automotive

Retrieved on: 
Wednesday, May 1, 2024
Other Transport, Other Manufacturing, Trucking, Construction & Property, Packaging, Transport, Automotive Manufacturing, Manufacturing, Other Construction & Property, S&S, VMI, Acquisition, EPS, DSG, The Company, Car dealership

Distribution Solutions Group, Inc. (NASDAQ:DSGR) ("DSG" or the "Company"), a premier specialty distribution company, today announced that its operating company, Lawson Products, Inc. (“Lawson”), completed the acquisition of S&S Automotive, Inc. (“S&S”), a leading automotive and industrial parts supplier based near Chicago in Woodridge, IL.

Key Points: 
  • Distribution Solutions Group, Inc. (NASDAQ:DSGR) ("DSG" or the "Company"), a premier specialty distribution company, today announced that its operating company, Lawson Products, Inc. (“Lawson”), completed the acquisition of S&S Automotive, Inc. (“S&S”), a leading automotive and industrial parts supplier based near Chicago in Woodridge, IL.
  • Lawson Products has an automotive-focused division, Kent Automotive, which distributes automotive and industrial class C-parts to auto dealerships and collision repair centers throughout North America.
  • “Similar to Lawson’s Kent Automotive business, S&S Automotive is an industry-leading distributor in the automotive dealership market,” said Cesar Lanuza, President & Chief Executive Officer of Lawson Products.
  • “We’re very excited to announce this acquisition that leverages the best of both companies.

J.B. Hunt Celebrates 54 Drivers for Safely Driving 2M-Plus Miles, Awards $770,000 in Safe Driving Bonuses

Retrieved on: 
Wednesday, May 1, 2024
Professional Services, Other Transport, Trucking, Rail, Maritime, Air, Transport, Public Safety, Logistics, Supply Chain Management, Public Policy, Government, Human Resources, J. B. Hunt, Multimedia, Culture, JBHT, Safety, Woman, Ridesharing

The drivers were awarded a total of $770,000 in safe driving bonuses for their outstanding accomplishment and commitment to operational excellence.

Key Points: 
  • The drivers were awarded a total of $770,000 in safe driving bonuses for their outstanding accomplishment and commitment to operational excellence.
  • (Photo: Business Wire)
    “These drivers are the champions of our safety culture,” said Nick Hobbs, chief operating officer and president of contract services at J.B. Hunt.
  • Since 1996, J.B. Hunt has awarded more than $38 million in safe driving bonuses to nearly 5,000 company drivers and has hosted the Million Mile event dating back to 2001.
  • By recruiting and retaining some of the top driving talent in the country, J.B. Hunt puts thousands of skilled and well-trained drivers on the road each year.

Distribution Solutions Group Announces 2024 First Quarter Results

Retrieved on: 
Thursday, May 2, 2024
Construction & Property, Other Manufacturing, Packaging, Trucking, Automotive Manufacturing, Other Construction & Property, Transport, Manufacturing, Acquisition, Depreciation, Telephone, GAAP, Safety

"We are actively working our pipeline of acquisition targets, incremental margin enhancement initiatives, and cost savings -- and expect sequential margin improvements as 2024 develops. Our asset-light business model, combined with our focus on growing operating cash flows and accelerating returns on invested capital, positions us well to maximize long-term shareholder value," concluded Mr. King.

Key Points: 
  • Two-year stacked organic revenue grew by 4.7% despite organic revenue softness in the current quarter being down 8.6% on comparable days.
  • Adjusted operating income, excluding these non-cash and non-recurring items, was $29.8 million compared to $32.8 million in the year-ago quarter and $28.0 million in the fourth quarter of 2023.
  • Distribution Solutions Group, Inc. will conduct a conference call with investors to discuss 2024 first quarter results at 9:00 a.m. Eastern Time on May 2, 2024.
  • A streaming audio of the call and an archived replay will also be available on the investor relations page of Distribution Solutions Group's website.

UPS Announces Quarterly Dividend

Retrieved on: 
Wednesday, May 1, 2024
Delivery Services, Trucking, Retail, Transport, Logistics, Supply Chain Management, Other Transport

UPS (NYSE: UPS) today announced its regular quarterly dividend of $1.63 per share on all outstanding Class A and Class B shares.

Key Points: 
  • UPS (NYSE: UPS) today announced its regular quarterly dividend of $1.63 per share on all outstanding Class A and Class B shares.
  • The dividend is payable May 30, 2024, to shareowners of record on May 13, 2024.
  • Commitment to the dividend is one of UPS’s core principles and a hallmark of the company’s financial strength.
  • UPS has either maintained or increased its dividend each year since going public in 1999.

Schneider National, Inc. Announces First Quarter 2024 Results

Retrieved on: 
Thursday, May 2, 2024
Other Transport, Trucking, Rail, Supply Chain Management, Logistics, Transport, Retail, Delivery Services, Public expenditure, Sale, Intermodal transport, Video game

Adjusted EBITDA was $130.7 million in the first quarter of 2024 compared to $223.4 million in the first quarter of 2023.

Key Points: 
  • Adjusted EBITDA was $130.7 million in the first quarter of 2024 compared to $223.4 million in the first quarter of 2023.
  • Truckload operating ratio was 97.2% in the first quarter of 2024 compared to 88.3% in the first quarter of 2023.
  • Intermodal operating ratio was 97.2% in the first quarter of 2024, compared to 88.7% in the first quarter of 2023.
  • Logistics operating ratio was 98.3% in the first quarter of 2024, compared to 95.2% in the first quarter of 2023.

Attorney Witherite: Tesla's Autopilot Crashes Stir Concerns for Autonomous Trucks in Texas and Georgia

Retrieved on: 
Wednesday, May 1, 2024
Legal, Autonomous Driving, Vehicles, Automotive, Other Transport, Trucking, Other Automotive, Professional Services, Transport, Congress, American Automobile Association, National highway, Safety, Autopilot, NHTSA, Fatality, Crash, Rail transport by country, Accident, Aviation, Road

Amy Witherite, a notable Texas attorney and founder of Witherite Law Group, highlights the ongoing issues and fatalities linked to Tesla's autonomous driving feature.

Key Points: 
  • Amy Witherite, a notable Texas attorney and founder of Witherite Law Group, highlights the ongoing issues and fatalities linked to Tesla's autonomous driving feature.
  • In 2024, there are plans to introduce autonomous tractor-trailers on the roads of Texas and Georgia.
  • The National Highway Traffic Safety Administration (NHTSA) recently disclosed the findings of a two-year investigation into Tesla’s Autopilot, uncovering hundreds of crashes, including 13 fatal ones.
  • Unlike autonomous vehicles, crashes involving aviation or railroads can result in swift action by agencies or Congress to ground planes or mandate new safety systems.

Performance Food Group Company to Participate in the 2024 BMO Farm to Market Conference

Retrieved on: 
Wednesday, May 1, 2024
Restaurant, Bar, Trucking, Supply Chain Management, Food, Beverage, Logistics, Transport, Discount, Variety, Retail, PFG, Webcast, Conference

Performance Food Group Company (PFG) (NYSE:PFGC) today announced that George Holm, PFG Chairman & Chief Executive Officer, and Patrick Hatcher, Executive Vice President & Chief Financial Officer will participate in the 2024 BMO Farm to Market Conference.

Key Points: 
  • Performance Food Group Company (PFG) (NYSE:PFGC) today announced that George Holm, PFG Chairman & Chief Executive Officer, and Patrick Hatcher, Executive Vice President & Chief Financial Officer will participate in the 2024 BMO Farm to Market Conference.
  • PFG will webcast its fireside chat live on Wednesday, May 15, 2024, at 2:00 p.m.
  • The live webcast will be available in listen-only mode on investors.pfgc.com .
  • An archived replay of the webcast will be available later that same day.

Solera Global Corp. Announces Draft Registration Statement for Proposed Initial Public Offering

Retrieved on: 
Wednesday, May 1, 2024
Other Transport, Trucking, Fleet Management, Vehicle Technology, Transport, Other Professional Services, Automotive, Other Technology, Insurance, Software, Artificial Intelligence, Finance, Internet, Data Management, Professional Services, Technology, Other Automotive, General Automotive, Form, Sale

Solera Global Corp. today announced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its Class A common stock.

Key Points: 
  • Solera Global Corp. today announced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its Class A common stock.
  • The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined.
  • The proposed initial public offering by Solera Global Corp. remains subject to the completion of the SEC review process and market and other conditions.
  • Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.

ESAB Corporation Announces First Quarter 2024 Results

Retrieved on: 
Wednesday, May 1, 2024
Natural Resources, Other Manufacturing, Steel, Other Transport, Trucking, Engineering, Rail, Chemicals, Plastics, Maritime, Automotive Manufacturing, Air, Aerospace, Transport, Manufacturing, Other Energy, Utilities, Oil, Gas, Coal, Alternative Energy, Automotive, Energy, Public Transport, Health, General Health, General Automotive, Mining, Minerals, Sager, Acquisition, 1.5, FX, ESAB, Growth, EPS, Pharmaceutical industry

ESAB Corporation (“ESAB” or the “Company”) (NYSE: ESAB), a focused premier industrial compounder, today announced financial results for the first quarter of 2024.

Key Points: 
  • ESAB Corporation (“ESAB” or the “Company”) (NYSE: ESAB), a focused premier industrial compounder, today announced financial results for the first quarter of 2024.
  • ESAB also reported first quarter net income from continuing operations attributable to ESAB of $61 million or $1.00 diluted earnings per share and core adjusted net income of $74 million or $1.20 diluted earnings per share.
  • Core adjusted EBITDA of $123 million rose 9% and margins expanded 140 basis points to 18.8%, both as compared to the prior year quarter.
  • “ESAB is off to a great start to 2024, with our results reflecting the power of ESAB Business Excellence to drive growth and margin expansion,” stated Shyam P. Kambeyanda, President and CEO of ESAB.