By SCMR Staff ·
August 5, 2022
Mario Harik has been appointed president, North American less-than-truckload, and will succeed Brad Jacobs as XPO’s chief executive officer once the brokerage spin-off is complete.
By SCMR Staff ·
August 5, 2022
Founder Tom Moore joins the company’s Board.
By MMH Staff ·
August 5, 2022
Keith Moore and his father started AutoScheduler to help P&G optimize warehouse processes.
By MMH Staff ·
August 5, 2022
Scholarship awarded to Jones College Prep graduate, Sam Vargas
By Jeff Berman ·
August 5, 2022
XPO said that Brad Jacobs, Chairman and CEO, will transition to Executive Chairman, as well as Non-Executive Chairman of the spin-off, with acting LTL President and Chief Information Officer Mario Harik will assume the role of XPO CEO, which, at that point, will be a pureplay LTL carrier through the completion of the spin-off and the divestiture of its European business.
By LM Staff ·
August 5, 2022
Rail carloads—at 906,903—rose 0.2%, or 2,213 carloads, annually, and intermodal. And intermodal containers and trailers—at 1,033,906—were down 3%, or 32,094 units, compared to July 2021.
By Jeff Berman ·
August 4, 2022
New records were hit for quarterly revenue—at $3.23 billion—up 1.2% annually (and up 11% when excluding the March sale of its intermodal business), with net income—at $141 million—up 19.9%. Operating income—at $230 million—was up 17%. Adjusted EBITDA—at $405 million—increased 18.5% annually, the highest in XPO’s history, well ahead of previous guidance, at $360 million-to-$370 million. And earnings per share—at $1.81—were up compared to $1.00 for the second quarter of 2021, marking the highest for the second quarter ever for XPO. Free cash flow was at $73 million.
By SCMR Staff ·
August 4, 2022
Volpe will be focused on strategic initiatives to provide best-in-class artificial intelligence capabilities to the supply chain.
By John Schulz ·
August 4, 2022
Yellow posted second quarter operating revenue of $1.424 billion and operating income of $99.2 million, which included a $3.2 million net gain on property disposals. In comparison, operating revenue in the 2021 second quarter was $1.313 billion and operating income was $27 million. Yellow’s net income for second quarter was $60 million, compared with a net loss of $9.4 million in the second quarter of 2021.
By Jeff Berman ·
August 3, 2022
The Services PMI came in at 56.5 (a reading of 50 or higher signals growth), up 1.4% compared to June, following a slight 0.6% decrease from May to June. The Services PMI showed growth, at a faster rate, for the 26th consecutive month, with services sector growth now remaining intact for 148 of the last 150 months through June, said ISM.
By Jeff Berman ·
August 3, 2022
The Services PMI came in at 56.5 (a reading of 50 or higher signals growth), up 1.4% compared to June, following a slight 0.6% decrease from May to June. The Services PMI showed growth, at a faster rate, for the 26th consecutive month, with services sector growth now remaining intact for 148 of the last 150 months through June, said ISM.
By Jeff Berman ·
August 3, 2022
Second quarter revenue saw a 15% annual increase, to $2.2 billion. Net income came in at $51 million, topping the second quarter of 2011 by 78%. Adjusted EBITDA—at $176 million—topped the $161 million recorded a year ago.
By SCMR Staff ·
August 3, 2022
In total, almost three quarters of supply chain leaders made changes to size and number of locations in their supply chain networks.
By Jeff Berman ·
August 3, 2022
The Services PMI came in at 56.5 (a reading of 50 or higher signals growth), up 1.4% compared to June, following a slight 0.6% decrease from May to June. The Services PMI showed growth, at a faster rate, for the 26th consecutive month, with services sector growth now remaining intact for 148 of the last 150 months through June, said ISM.
By LM Staff ·
August 3, 2022
The national average price per gallon for diesel—at $5.138—dropped 13 cents, coming on the heels of a 16.4-cent decrease, for the week of July 25, to $5.268 per gallon, the steepest annual decline going back to the week of October 27, 2008, when it fell 19.4 cents, to $3.288.