FreightWaves Today

FreightWaves

FreightWaves NOW is your daily source for the most impactful news in logistics. We break down the complex world of freight—covering trucking, rail, air, and ocean markets—to bring you actionable insights. Whether you are a carrier, shipper, or broker, we provide the data-driven context you need to navigate a volatile market.

  1. 4h ago

    FreightWaves Today | October 23

    In this episode of FreightWaves Today, hosts Craig Fuller and Julie Van de Kamp break down the latest quarterly earnings across trucking, rail, and logistics, launch three game-changing truckload data sets on SONAR, and dive deep into regulatory and legal challenges shaping the freight industry. Episode Highlights: Earnings Breakdown: Analyzing Knight-Swift’s standout Q3 performance following their U.S. Xpress integration, comparing their operational discipline to JB Hunt, Werner, and Marten Transport. Plus, solid quarters from Ryder, Union Pacific, and Norfolk Southern. Multimodal Insights: Paul Pozega (CEO & Founder, Integrated Multimodal Solutions) joins the desk to discuss intermodal volume vs. rate dynamics, rail margins, and how the pending Union Pacific-Norfolk Southern merger and election politics could impact class-one railroads. SONAR Data Launch: Julie Van de Kamp unveils three brand-new truckload data set groups—Routing Guide Premiums (RGP), Routing Guide Acceptance Share (RGA), and Contract Rate Change Direction (CRC)—showing new contract rates resetting 13%+ higher. Freight Expectations: Craig and "The Armchair Attorney" Matthew Leffler dissect the FMCSA's role, broker liability post-Montgomery and Lupus Superior ($604M C.H. Robinson verdict in Texas), the TCL motion to dismiss in the RICO lawsuit, and the rising role of highway surveillance cameras (JenLogs & Flock) in freight safety and market self-regulation. Follow the FreightWaves Today Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

    FreightWaves Today | October 23
  2. 10h ago

    Ryder's Strong Q3 Earnings, UP Intermodal Surge, & NS Volume Gains | The Morning Minute

    In this episode, we kick things off by examining the powerful third-quarter performance from logistics giant Ryder, which delivered solid results with improvement across nearly every metric compared to the same period last year. Revenue climbed across all three operating segments, with used vehicle sales proving particularly robust as used tractor prices surged nineteen percent year-over-year. The strong quarter prompted Ryder to raise its full-year earnings forecast, and Wall Street responded enthusiastically by sending the company's stock up nearly six percent in early trading. Next, we shift over to the rails to discuss how Union Pacific is showcasing impressive profit gains driven by intermodal growth and pricing power. The Omaha-based Class I railroad reported a sixteen percent increase in third-quarter profit to two point zero eight billion dollars, with intermodal traffic leading the railroad's growth as volumes surged eleven percent and intermodal revenue climbed a massive twenty-seven percent. Chief Executive Jim Vena credited the railroad's ability to safely deliver the service sold to customers while efficiently handling six percent volume growth. Finally, we explore how Norfolk Southern is benefiting from a tighter trucking market, though those volume gains aren't translating into better operating efficiency. The railroad reported higher third-quarter earnings and record revenue, with total revenue rising fourteen percent to three point five billion dollars on a three percent increase in volume. However, the railroad's operating ratio worsened two point eight percentage points to sixty-seven point four percent, underscoring pressure on margins even as revenue reached a quarterly record. Follow the FreightWaves Today Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

    Ryder's Strong Q3 Earnings, UP Intermodal Surge, & NS Volume Gains | The Morning Minute
  3. 1d ago

    FreightWaves Today | October 22

    FreightWaves Today breaks down a pivotal week for the freight market, with strong earnings from Knight-Swift Transportation, Triumph Financial and Cass Information Systems offering insight into rising rates, higher operating costs and shifting market conditions. Hosts Malcolm Harris and Zach Strickland speak with Triumph Financial CEO Aaron Graft and Cass Information Systems EVP and CFO Mike Normille about their latest results, while the SONAR team examines trucking capacity, diesel prices, refinery constraints and a cooling housing market. Knight-Swift Delivers a Major Earnings Beat Knight-Swift Transportation reported third-quarter adjusted earnings of $0.83 per share, beating analyst expectations and its own guidance. Revenue reached $2.2 billion, up 14% year over year, while revenue per loaded mile increased 10%. The company’s truckload adjusted operating ratio improved to 89.2%, excluding fuel, and loaded miles per tractor rose for the eighth consecutive quarter. Triumph Financial CEO Aaron Graft on Growth, Investment and Freight’s Next Cycle Aaron Graft joins the show to explain how four years of investment in payments, intelligence and load-pay products are beginning to pay off as the freight market improves. Graft also shares his outlook on freight supply, rates and Triumph’s opportunity to monetize years of platform investment. Cass Information Systems: Higher Freight Invoices and Interest Rates Lift Results Cass Information Systems EVP and CFO Mike Normille discusses the company’s third-quarter performance and what could drive results in the months ahead. ⁠⁠Follow the FreightWaves Today Podcast⁠⁠ ⁠⁠Other FreightWaves Shows⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

    FreightWaves Today | October 22
  4. 1d ago

    Knight-Swift Q3 Beats Estimates, Triumph Financial Metrics Soar, & Tesla Semi Volume Output | The Morning Minute

    In this episode, we kick things off by examining the nation's largest asset-based truckload carrier delivering a major earnings beat that signals fundamental market momentum. Knight-Swift Transportation crushed Wall Street's consensus estimate with third-quarter adjusted earnings per share of eighty-three cents, seven cents above expectations and above its own guidance range. Revenue climbed fourteen percent year-over-year to two point two billion dollars, driven by aggressive rate increases and the truckload unit's massive seven hundred basis point improvement in adjusted operating ratio. Next, we explore the fintech sector where Triumph Financial's CEO highlighted arrows pointing up across nearly every key metric in his quarterly shareholder letter, validating years of heavy investment in building comprehensive financial services infrastructure for trucking. Transportation revenue growth hit thirty-seven point eight percent, easily surpassing the company's long-term target, while factoring operating margin reached forty-three percent and the firm now services about eight thousand of the more than ninety thousand factored carriers nationwide. Finally, we cover a critical production milestone that could reshape the electric Class 8 market as Tesla confirmed it has begun volume production of its Semi truck at its Nevada factory with installed annual capacity now at twenty-five thousand units. The top variant Semi can travel five hundred miles at full eighty-two thousand pounds gross combination weight while using just a third of the energy consumed by a comparable diesel truck, with Tesla targeting its first European customer deliveries by the end of twenty twenty-seven. Follow the FreightWaves Today Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

    Knight-Swift Q3 Beats Estimates, Triumph Financial Metrics Soar, & Tesla Semi Volume Output | The Morning Minute
  5. 2d ago

    FreightWaves Today | October 21

    On this episode of FreightWaves Today, Malcolm Harris and Julie Van de Kamp break down the latest developments shaping freight markets, from a nearly $1 million trading card theft and alarming truck safety violations to third-quarter earnings, rising transportation costs, and the growing shift from highways to rail. Plus, Vertical Aerospace’s Michael Cervenka explains how its Valo electric aircraft could transform time-critical cargo delivery, and Trains magazine editor Bill Stephens joins the show to discuss surging rail traffic and the outlook for railroad earnings. In this episode: Nearly $1 Million in Trading Cards Stolen From a FedEx Truck: FreightWaves Head of Fraud Media and Education Phil Brink and Highway Chief Product Officer Brendan Bailey discuss the disappearance of approximately $963,000 worth of Pokémon, sports, and other trading cards from a FedEx truck in Santa Ana, California. Investigators are working to determine when and where the theft occurred. The conversation explores why high-value collectibles are attractive targets, the cargo theft risks facing Southern California, and the security procedures carriers should follow when transporting valuable freight. Cargo Theft vs. Freight Fraud: Understanding the Risks: Brink and Bailey explain the differences between straight theft, direct theft, and strategic theft, including situations involving compromised carrier email accounts and fraudulent access to shipments. Bailey also explains how Highway’s secure rate confirmation delivery process helps protect sensitive shipment information by requiring carriers to authenticate before accessing documents, rather than relying on email inbox security. Truck Safety Inspections Reveal Serious Violations: Enforcement operations in Arizona and North Dakota uncovered hundreds of violations, including unsafe vehicles and severe equipment failures. One truck stopped in Arizona had completely inoperative trailer brakes, seven broken trailer cross members, and extensive lower-rail damage. Malcolm and Julie discuss why these findings underscore the importance of preventive maintenance, qualified drivers, and freight rates that allow carriers to invest in safety. Heartland Express Returns to Profitability: Heartland Express reported third-quarter net income of $1 million, reversing an $8.3 million loss from the same quarter a year earlier. Improved freight volumes, stronger customer pricing, and reduced industry capacity helped drive the turnaround. The company’s adjusted operating ratio improved to 97.6%, while fuel, maintenance, repair, and employee-related costs continued to pressure results. SONAR Deep Dive: Rising Rates, Rising Costs: Julie examines third-quarter earnings and freight market indicators from J.B. Hunt, Werner, and Heartland Express. Truckload carriers are gaining pricing power as capacity tightens, but higher diesel prices, driver recruitment and retention expenses, insurance claims, and equipment costs are absorbing much of the improvement. The discussion also highlights the growing cost advantage of intermodal transportation and the potential for continued road-to-rail conversion. Vertical Aerospace’s Valo Aircraft Could Change Urgent Freight Delivery: Michael Cervenka, chief commercial and strategy officer at Vertical Aerospace, explains how the Valo electric vertical takeoff and landing (eVTOL) aircraft combines helicopter-style vertical takeoff and landing with airplane-style flight. The company is targeting certification around 2028–2029, with operational service expected from 2030 onward. Potential cargo applications include time-critical medical equipment, humanitarian aid, defense logistics, and deliveries to remote locations without suitable runway infrastructure. Rail Traffic Accelerates as Intermodal Gains Momentum: Bill Stephens, editor of Trains magazine, reviews the latest Association of American Railroads traffic figures. U.S. rail traffic rose 8.5% year over year for the week, with intermodal volume surging as high diesel prices and tight truck capacity encourage shippers to move more freight by rail. Stephens also discusses rail earnings expectations, rising steel-related shipments, and the competitive dynamics among major railroads. Railroad Earnings Season Begins: With CSX, Union Pacific, and Norfolk Southern reporting third-quarter results, the show explores what investors and freight market participants should watch. The discussion covers earnings expectations, intermodal market share, fuel surcharges, rail pricing, and whether railroads can keep pace with rising operating costs. Follow the FreightWaves Today Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

    FreightWaves Today | October 21
  6. 2d ago

    $1M Trading Cards Vanish, Heartland Express Q3 Turnaround, & Safety Blitzes Hit Violators | The Morning Minute

    In this episode, we kick things off with a massive cargo heist that has investigators scrambling to reconstruct exactly how nearly one million dollars in Pokémon and sports cards vanished from a FedEx truck in Santa Ana, California. The driver discovered a missing lock and two complete pallets gone, each holding approximately one hundred packages of collectible trading cards, though detectives still don't know when or where the theft actually occurred. Next, we explore the truckload sector where a major carrier is celebrating a critical financial turnaround as Heartland Express posted its first net profit since 2023 without relying on equipment sales. The North Liberty, Iowa-based company reported third-quarter net income of one million dollars, a dramatic reversal from an eight point three million dollar loss in the year-ago quarter, driven by stronger freight volumes and improved customer pricing. Finally, we break down how a wave of nationwide enforcement operations is pulling hundreds of unsafe trucks and drivers off America's highways as commercial vehicle safety blitzes across Arizona, California, North Dakota and Kentucky uncovered extensive violations ranging from mechanical defects to driver disqualifications. In one three-day Arizona operation alone, inspectors conducted two hundred sixty-three inspections and removed one hundred ten unsafe vehicles and drivers from the state's roadways. Follow the FreightWaves Today Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

    $1M Trading Cards Vanish, Heartland Express Q3 Turnaround, & Safety Blitzes Hit Violators | The Morning Minute
  7. 3d ago

    FreightWaves Today | October 20

    Diesel prices are climbing, operating costs are squeezing carrier profits, and a major nuclear verdict against C.H. Robinson could have far-reaching implications for freight brokers. On this episode of FreightWaves Today, Malcolm Harris and Julie Van de Kamp break down the latest freight market data, explore the growth of autonomous trucking, and examine the legal and economic pressures shaping the transportation industry. In this episode: Autonomous Trucking Moves Toward Scale: Brett Suma, president and COO of Bot Auto, joins the show to discuss the company's rapid growth and its strategy for scaling driverless freight operations. Learn how Bot Auto plans to reduce autonomous driving hardware costs to approximately $50,000 per truck, why capital efficiency matters, and how AI-powered software, redundant safety systems, and real-world customer commitments are helping advance autonomous trucking. SONAR Freight Market Update: Julie examines the latest truckload trends as freight volumes soften while carrier capacity remains tight. With overall tender rejections holding around 13.9% and refrigerated tender rejections at approximately 21.4%, carriers continue to have leverage in selecting loads. The update also explores seasonal refrigerated freight demand, harvest activity, and why reefer spot rates are rising faster than contract rates. Diesel Prices and Carrier Cost Pressures: FreightWaves Editor-at-Large John Kingston breaks down the latest diesel price movements amid global supply disruptions and uncertainty surrounding the Strait of Hormuz. The discussion looks at depleted inventories, the outlook for fuel prices heading into winter, and why diesel remains a major concern for trucking companies despite fuel surcharges. C.H. Robinson's $700 Million Verdict: Kingston explains the Texas judge's decision to uphold a roughly $603 million jury verdict against C.H. Robinson, with accrued interest pushing the total to approximately $700 million at the time of the discussion. The team examines the potential implications for broker liability, negligent carrier selection, insurance requirements, and the broader freight brokerage industry as the case moves toward the next stage of legal proceedings. Werner Enterprises and Trucking Earnings: The team breaks down Werner's third-quarter profit warning, including the impact of elevated diesel prices, driver recruitment and retention expenses, and insurance claims. With earnings reports rolling in across transportation, the discussion explores why rising rates may not be enough to offset mounting operating costs. Drug Seizure at the U.S.-Mexico Border: Authorities discovered approximately $30.4 million worth of suspected methamphetamine concealed in a commercial salt shipment at the Laredo World Trade Bridge. The hosts discuss the risks facing trucking operations along the border and the importance of investigations into illicit cargo moving through commercial freight networks. What Is Keeping Trucking Executives and Drivers Up at Night? The show examines findings from the American Transportation Research Institute's annual critical issues survey. Fuel prices have returned as a leading industry concern, alongside lawsuit abuse reform, driver shortages, insurance costs, and truck parking—highlighting the different pressures facing drivers and motor carriers. From driverless trucks and freight market dynamics to diesel volatility and broker liability, this episode delivers essential insights into the forces shaping trucking and the supply chain. Follow the FreightWaves Today Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

    FreightWaves Today | October 20
  8. 3d ago

    Werner Q3 Profit Warning, $30M Meth Bust at Laredo, & Fuel Prices Top Trucking Concerns | The Morning Minute

    In this episode, we kick things off by examining the brutal cost pressures hitting carriers in the early stages of the industry's recovery. Werner Enterprises just issued adjusted earnings guidance that fell significantly below Wall Street expectations, flagging eighteen cents in cumulative headwinds from elevated diesel prices, higher driver recruitment costs, and an insurance reserve adjustment. While truckload carriers have been raising rates for the first time after a nearly four-year downturn, profitability is still being heavily squeezed by early-upcycle cost inflation. Next, we explore the dark side of cross-border logistics as U.S. Customs and Border Protection officers uncovered a massive narcotics operation concealed inside what appeared to be a routine commercial freight shipment. On October twelfth, CBP discovered nearly thirty point four million dollars in suspected methamphetamine hidden inside a commercial salt load at Laredo's World Trade Bridge. Officers recovered over three thousand pounds of suspected methamphetamine from seventy-six bags inside a trailer manifested as salt, underscoring the ongoing security challenges at the nation's busiest commercial land port. Finally, we break down a new industry survey revealing that fuel prices have roared back to become trucking's single biggest concern after not even making the top ten list the past two years. The American Transportation Research Institute's annual study shows fuel prices ranked number one among drivers and number two for carriers, finishing in the top slot overall. The carriers' rating is particularly notable because it undercuts the idea that fuel surcharges effectively shift diesel costs onto shippers with little impact on the carrier's bottom line. Follow the FreightWaves Today Podcast Other FreightWaves Shows Learn more about your ad choices. Visit megaphone.fm/adchoices

    Werner Q3 Profit Warning, $30M Meth Bust at Laredo, & Fuel Prices Top Trucking Concerns | The Morning Minute

Ratings & Reviews

5
out of 5
2 Ratings

About

FreightWaves NOW is your daily source for the most impactful news in logistics. We break down the complex world of freight—covering trucking, rail, air, and ocean markets—to bring you actionable insights. Whether you are a carrier, shipper, or broker, we provide the data-driven context you need to navigate a volatile market.

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