United Parcel Service on Tuesday reported profit and revenue for the second quarter that came in below expectations. It also cut its 2024 revenue guidance to approximately $93 billion, revised from a previous forecast for as much as $94.5 billion. Weak freight demand and soft pricing in the shipping sector...

UPS shares fall 12%, post worst day on record after earnings miss and guidance cut

Chipotle Mexican Grill has reported a net income of $455.7m, or $0.33 per diluted share, for the second quarter of 2024 compared to $341.8m, or $0.25 per diluted share, in the same period of the previous year. Excluding certain items, its adjusted net income reached $463m, with adjusted diluted earnings...

Chipotle’s net income increases to $455.7m in Q2 2024

Reuters

(Reuters) -U.S. railroad operator Union Pacific reported its second-quarter profit above Wall Street estimates on Thursday, as strong pricing and increased volumes more than offset reduced fuel surcharge and business-mix headwinds.

Union Pacific reports quarterly profit above estimates on higher pricing, volumes

Tennessee State

Covenant Logistics Group reported revenue of $287.5 million in the second quarter after the market closed Wednesday, an increase of 4.7% year-over-year compared to 2023. The company posted adjusted second-quarter earnings of $1.04 cents per share, a 2.8% decrease compared to the same year-ago period. Chattanooga, Tennessee-based Covenant’s (NASDAQ: CVLG)...

Covenant Logistics sees 4.7% rise in Q2 earnings amid ‘weak’ freight market

OMAHA - Union Pacific Corporation (NYSE: NYSE:UNP) announced its second-quarter financial results, revealing a modest increase in operating revenue and a significant improvement in operating income. The railroad operator reported a quarterly EPS of $2.74, narrowly surpassing the analyst estimate of $2.71. However, revenue for the quarter was $6 billion,...

Union Pacific Posts Solid Q2 Income Growth, Slight Revenue Miss

Omaha, NE

OMAHA, Neb. – Union Pacific’s profits rose in the second quarter despite a sharp drop in coal traffic. “When you remove coal, our total volume was up 3% in the second quarter. This demonstrates that even in a tough freight environment, we are winning with our customers to bring new business to the railroad,” CEO Jim Vena said on the company’s earnings call on Thursday morning.

Declining coal volumes can’t sink Union Pacific’s second quarter results

Auto parts recycler LKQ Corp., Chicago, has reported second-quarter financial results for the year. Despite an 8 percent increase in year-over-year revenue to $3.7 billion for the quarter, the company has revised its outlook downward for the remainder of the year. “Our second quarter performance did not meet expectations as...

LKQ updates guidance after disappointing Q2

Miami, FL

Two Miami-based trucking companies have filed for Chapter 11 bankruptcy protection. A1 Transport Network and AB Brothers USA both filed petitions Saturday in the U.S. Bankruptcy Court for the Southern District of Florida. According to the trucking companies’ petitions, Ivan Antigua Escobar is listed as president of A1 Transport Network...

2 Miami trucking companies file for bankruptcy protection

The Motley Fool

OTLY earnings call for the period ending June 30, 2024.

Oatly Group Ab (OTLY) Q2 2024 Earnings Call Transcript

On Episode 739 of WHAT THE TRUCK?!?, Dooner is talking to Metafora’s Ryan Schreiber about hard truths in freight and tech. I don’t know who needs to hear this, but Schreiber is here to deliver a dose of reality to the industry. DOTsfty wants to evolve driver training...

Hard truths in freight; AI driver trainers; Lithium Ion APUs | WHAT THE TRUCK?!?

Virginia State

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Cheryl E Preston

In Virginia, Drinking in public or offering another person alcohol in a public space is prohibited. This is a class 4 Misdemeanor punishable by a fine of up to $250.00. Under a new law that goes into effect on July 1, this will change to a degree.WDBJ7 reports that the prohibition on drinking or offering an alcoholic beverage to someone else in public will no longer apply under the following conditions.

Drinking in public will no longer be prohibited on private Campgrounds in Virginia beginning July 1

Freight fraud has become an all-too-familiar term in the transportation and logistics sectors in recent years. Although fraud has long been a challenge in the field, industry experts observe that these criminals have evolved alongside FreightTech, leaving supply chain participants uncertain about who will bear the burden of finding solutions.

How freight fraud became the perfect crime

Wyndham Hotels & Resorts reported growth in both revenue per available room and system size for the three months ended June 30, but adjusted its full-year forecast downward. Wyndham opened more than 18,000 rooms during the quarter, 16 percent more domestically than last year, and the best Q2 openings the company has on record, President and CEO Geoff Ballotti said during an earnings call with investors. Notably, 75 percent of those openings are in the midscale and above segments—“which we're really pleased by,” he added.

Wyndham adjusts forecasts for full-year 2024

The Associated Press

UPS boosted its volume in the U.S. for the first time since 2022 during its second quarter, but profit and revenue fell short of Wall Street expectations, partly due to a hefty charge. Shares dropped more than 13% at the opening bell Tuesday. CEO Carol Tome said the package delivery company returned to volume growth in the U.S. during the quarter for the first time in nine quarters. “This quarter was a significant turning point for our company,” Tome said in a prepared statement. 

UPS boosts volume in US for first time since 2022, but profit and revenue slide

Food, as it relates to the store floor and the courtroom, left Loblaw with soft numbers for the second quarter of 2024. Traffic was up at Loblaws stores over the last few months, but basket size was down. Loblaw also settled on a bread fixed-pricing lawsuit for $500 million (CAN), which impacted net earnings by $121 million.

Price-fixing scheme, smaller baskets lighten Q2 results for Loblaw

The Federal Motor Carrier Safety Administration has kicked four ELDs off the agency’s registry due to the companies’ failure to meet the minimum requirements. The agency announced Tuesday that ELDs from CTE-LOG ELD, ELD VOLT, Powertrucks ELD and TFM ELD were placed on the revoked devices list. Motor carriers should stop using those devices.

FMCSA kicks 4 ELDs off registered list

The railway giant rolled in with strong profitability, but came up just short of estimates on the top line. Earnings came in at $2.74 per share, beating estimates by $0.04 per share. Total revenue was $6.0 billion, which missed estimates by about $43 million. The railway company's operating ratio improved...

Union Pacific Beats Earnings Estimates for Q2

Chubb Ltd. secured a record $1.3 billion in new business during the second quarter, Chairman and CEO Evan G. Greenberg said Wednesday during a call with analysts. Net income increased 24.3% to $2.23 billion. Core operating income for the quarter was $2.2 billion, bringing Chubb’s year-to-date core operating earnings to $4.4 billion, a 13.5% increase. The insurer released its earnings Tuesday after markets closed.

Chubb says $1.3B in Q2 new business sets record

WASHINGTON — With dust starting to settle after the landmark Supreme Court Chevron decision upended the federal rulemaking process, Republican lawmakers are eager to hear about rules that small-business truckers would like to see challenged. “I think first and foremost is the speed limiter rule that’s been floated around,”...

Legal challenges ahead for truck speed, hours-of-service rules?

Kentucky State

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Northern Kentucky Tribune

Kentucky’s medical cannabis program has taken significant steps toward ensuring those with qualifying conditions have access to medical cannabis as soon as possible, said Gov. Andy Beshear this week.

State to open licensing applications for medical cannabis businesses beginning July 1

NewsBreak

Pam Transportation reports net loss in Q2

Truckload carrier Pam Transportation Services reported a net loss for the 2024 second quarter but noted some seasonal improvement as the period progressed. Pam (NASDAQ: PTSI)...

Pam Transportation reports net loss in Q2

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