25 Apr Celadon to Pay $42.2 Million After Admitting to Accounting Fraud Celadon Group Inc. has agreed to pay $42.2 million to settle a federal investigation into allegations that a prior management team and a subsidiary company filed false and misleading statements to investors regarding tractors and trailers leased to owner-operators. Read more...
25 Apr Editorial: Old Man Winter Can’t Stop Freight With quarterly earnings underway, we’re getting a look at how the industry fared during the first three months of 2019, a year which some have predicted could mark the beginning of a cooldown from last year’s red-hot freight market. Turns out the start of this year for freight haulers wasn’t marked so much by a cooldown as it was cold and snowy weather. Read more...
25 Apr Marten Transport Posts Record Results in First Quarter Marten Transport Ltd. reported its best first-quarter operating revenue in the company’s 73-year history, according to an April 16 news release. Read more...
25 Apr Amazon Will Spend $800 Million to Move to One-Day Delivery Amazon.com will spend $800 million in the current quarter to increase delivery speed for Prime members to one day from two, the company announced April 25. Read more...
25 Apr Amazon’s Profit Surges on Cloud Computing, Advertising Gains Amazon.com reported quarterly profit that exceeded analysts’ estimates, demonstrating the company’s focus on cloud computing, advertising and other high-margin businesses continues to pay off. Read more...
25 Apr TFI International Reports Record Results for 1Q Another quarter, another record for TFI International when the Montreal-based conglomerate released its first-quarter financial report April 23. Read more...
25 Apr Old Dominion Posts Record Per-Share Results in 1Q Old Dominion Freight Line beat the Wall Street consensus estimate on its earnings per share when the Thomasville, N.C., less-than-truckload carrier reported first-quarter results April 25. Read more...
25 Apr Wabtec Names Rafael Santana CEO Effective July 1 Exactly two months after Westinghouse Air Brake Technologies purchased GE Transportation, Wabtec on April 25 announced that CEO Ray Betler will retire and that Rafael Santana, previously the CEO of GE Transportation, will step into that role as of July 1. Read more...
25 Apr UPS Cites Winter Weather for 1Q Earnings Downturn UPS Inc. said difficult weather including heavy snow, extremely cold temperatures and spring flooding impacted its first-quarter 2019 earnings when the company announced its financial results April 25. Read more...
25 Apr Catch Them if You Can: The Soaring Business of Downing Drones After recent incidents of drones disrupting passenger flights and costing potentially millions of pounds in revenue, a cottage industry of companies has emerged, all hoping to solve the problems caused when drones fly where they are not supposed to. Read more...