Podcast: Rivian earnings, Waymo partners with Toyota, Ford bets on V2H for Fathom, and more
Transportationvia Electrek
Quick Read
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we’ll discuss Rivian’s earnings, Waymo partnering with Toyota, Ford betting on V2H for the Fathom electric pickup truck, and more. more…
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we’ll discuss Rivian’s earnings, Waymo partnering with Toyota, Ford betting on V2H for the Fathom electric pickup truck, and more.
#fwtv_Rj9isPUg2qg .fwtv-panel{border:1px solid #d0d0d0;padding:18px;border-radius:6px;line-height:1.6}#fwtv_Rj9isPUg2qg .fwtv-panel p{margin:0 0 12px}#fwtv_Rj9isPUg2qg .fwtv-note{font-style:italic;color:#666;margin-top:16px;padding-top:12px;border-top:1px solid #e0e0e0}Schneider is making a monumental shift in its intermodal operations, moving all eastern rail business from CSX to Norfolk Southern. This strategic partnership aims to unlock significant growth, enhance capacity flexibility, and drive more freight off the roads and onto rail. Discover the full implications of this major move and what it means for the future of intermodal logistics.Schneider National is transferring its eastern intermodal operations to Norfolk Southern, ending its prior relationship with CSX in what both companies describe as a growth-driven realignment. The deal, announced the same day Schneider reported its third-quarter earnings, positions Norfolk Southern as Schneider’s exclusive eastern rail partner alongside Union Pacific in the West. Michael Baumgardt, Schneider’s EVP of Intermodal and Logistics, said the decision followed a lengthy evaluation focused on network reach, train frequency, and proximity to population centers. “It starts with growth and it’s really about, okay, how can we get closer to our customers? How can we make sure that we get more truck freight off of the road and into intermodal where it makes sense?” Baumgardt said. Customer response in the first 24 hours after the announcement was positive, he added, particularly around Schneider’s asset-based model featuring company drivers, company chassis, and company containers. Norfolk Southern’s Vice President Shawn Tureman said the railroad has been building toward this moment for years, growing from the third- to the second-largest intermodal franchise in the United States by 2018. In 2022, the railroad set a new target to double its intermodal franchise again and has been directing discretionary capital toward that goal ever since. “It’s not a question of if, but when. And the way we’re going to get there is by partnering with powerful partners like Schneider,” Tureman said. The current rate environment adds urgency to the move. Truckload rates carry a 30%-plus premium over intermodal rates, making intermodal an increasingly attractive option for shippers. Baumgardt said the primary capacity constraint is not equipment — boxes are available — but rather dray capacity and driver supply. He argued Schneider’s company-driver model gives it a structural advantage in managing that bottleneck. Both executives said the pending Norfolk Southern-CSX merger, a topic that surfaces weekly in industry discussions, was not the driver of this agreement, though they acknowledged it could improve the product. “The merger would be icing on the cake in terms of enhancing service, reliability, and speed,” Baumgardt said. Tureman echoed that view, pointing to single-line service, shorter routes, and reduced interchange friction as potential merger benefits for Schneider’s customers. On the transition itself, both sides said planning began immediately after the agreement and that the goal is a seamless handoff. Tureman said Norfolk Southern pulled forward some infrastructure investments specifically to prepare. “What I hope, 3 months from now, for our customers not to have noticed anything,” he said, adding that a smooth transition would set the stage for joint sales efforts heading into what he called a strong intermodal market in 2026 and 2027. Schneider reported earnings growth in its intermodal segment in Q3, consistent with the company’s stated growth pillars of logistics, dedicated, and intermodal. Dedicated revenue per truck rose 3.1% in the quarter, though Baumgardt emphasized that disciplined freight selection and appropriate driver allocation remain priorities as the company manages through the current freight cycle.Schneider is moving its eastern intermodal rail partnership to Norfolk Southern, complementing its existing western alliance with Union Pacific.Norfolk Southern grew from the 3rd to 2nd largest U.S. intermodal franchise by 2018 and launched a second doubling initiative at its 2022 Investor Day.Truckload rates currently run more than 30% above intermodal rates, with dray and driver availability — not box count — cited as the primary capacity constraint.This Summary is generated thanks to a transcription of the interview, for the full interview please enjoy the video above. The post Rail Rivalry: Schneider’s Bold Move to Norfolk Southern from CSX appeared first on FreightWaves.
#fwtv_yRofIDbr2o .fwtv-panel{border:1px solid #d0d0d0;padding:18px;border-radius:6px;line-height:1.6}#fwtv_yRofIDbr2o .fwtv-panel p{margin:0 0 12px}#fwtv_yRofIDbr2o .fwtv-note{font-style:italic;color:#666;margin-top:16px;padding-top:12px;border-top:1px solid #e0e0e0}The trailer market is experiencing an unexpected surge, with utilization rates surpassing even pandemic levels. Craig Barth, CFO at Premier Trailer Leasing, breaks down why this supply-side driven boom is happening, the shift in demand for older equipment, and critical fraud warnings for those seeking rentals. We also dive into how fleets are navigating CapEx decisions and the importance of preventive maintenance to keep trailers on the road.Trailer leasing utilization at Premier Trailer Leasing has climbed to the highest levels the company has ever recorded, surpassing even peak pandemic-era demand — a development its CFO says caught the industry off guard. The driver is not a surge in freight volumes but a contraction in supply: carriers running older equipment have been exiting the market, leaving those that remain competing for newer trailers from leasing companies. “The trailer market right now is extremely hot. It is something we honestly did not see coming at the beginning of this year,” said Craig Barth, CFO of Premier Trailer Leasing. “Today, our utilization is running as high as it ever has, even beating some of our peak utilization during the pandemic.” “We’re buying all we can in the 4th quarter to meet customer demand. Right now, we’re placing orders well into next year trying to get ahead of what we think is going to be a very strong 2027.” — Craig Barth, CFO, Premier Trailer Leasing The tightest segment of the market is trailers aged 10 years and newer. Barth said customers originally sought 0-to-5-year-old units, but that cohort has been entirely absorbed. Demand has also been reinforced by years of underinvestment at the manufacturing level: Barth noted that trailer manufacturers have been building well below replacement volumes for the last three years, leaving carriers that preferred to retire trailers at five years now running equipment seven, eight, or nine years old and facing rising maintenance costs. Demand firmed noticeably in the May-June timeframe, Barth said, when conversations with customers about late third-quarter and fourth-quarter needs turned “flat out optimistic.” Premier does not normally purchase new equipment in the fourth quarter — typically a period when trailers return to the yard — but this year it is buying as much as it can. Flatbed trailers are seeing particularly acute pressure, driven in part by data center construction activity, with availability rather than price the primary constraint. On the dry van side, resilient consumer spending heading into the holiday season is adding to demand. Carrier CapEx constraints are also steering business toward leasing. With fleets simultaneously cycling through truck renewals and contending with elevated fuel costs and rising driver pay, many operators lack budget to purchase trailers outright. “A lot of our customers right now are going through renewal cycles on the truck side of things,” Barth said, “and they’re having to focus their energies there.” On the fraud front, Barth issued a warning about a scheme targeting trailer renters. Bad actors are monitoring drop yards and distribution centers for trailers sitting idle for three to four days, then advertising those units — falsely — for rent on Facebook Marketplace. The listings use AI-generated invoices and demand payment via Zelle or Venmo. Victims have lost between $700 and $1,000 per incident before authorities are notified. Barth said Premier never accepts Zelle or Venmo payments and urged anyone considering a trailer rental to call one of the company’s 42 branch locations across 31 states to verify legitimacy before sending money.Premier Trailer Leasing’s utilization has hit all-time highs, surpassing pandemic peaks, driven by supply contraction rather than demand growth.Trailer manufacturers have built below replacement volumes for three years, pushing carriers to run equipment 7–9 years old and turn to leasing as CapEx budgets remain constrained.A Facebook Marketplace fraud scheme uses AI-generated invoices to advertise leased trailers illegally, demanding Zelle or Venmo payments and costing victims $700–$1,000 per incident.This Summary is generated thanks to a transcription of the interview, for the full interview please enjoy the video above. The post Unexpected Boom: Trailer Leasing Demand Hits Record Highs appeared first on FreightWaves.
#fwtv_nMjMlyeXCAo .fwtv-panel{border:1px solid #d0d0d0;padding:18px;border-radius:6px;line-height:1.6}#fwtv_nMjMlyeXCAo .fwtv-panel p{margin:0 0 12px}#fwtv_nMjMlyeXCAo .fwtv-note{font-style:italic;color:#666;margin-top:16px;padding-top:12px;border-top:1px solid #e0e0e0}SAIA President & CEO Fritz Holgrefe breaks down the company’s impressive third-quarter earnings, including record revenue and significant improvements in customer satisfaction and claims ratios. Discover how strategic network investments and a customer-centric approach are driving SAIA’s success and what lies ahead for the logistics giant.Saia reported record third-quarter revenue of $982.5 million, up 17% year over year, with earnings per share of $3.41, the LTL carrier’s president and CEO said in an interview with FreightWaves. Alongside the results, the company announced a $250 million share repurchase program — a signal that years of heavy network investment are giving way to a phase focused on profitability and capital returns. The revenue gain was driven by a combination of fuel surcharges, core pricing initiatives, and tonnage growth. Tonnage per workday rose approximately 8.9% year over year, reaching a record, while revenue per shipment climbed 5.8%. Shipments per workday, however, grew less than 1%, a deliberate outcome of the carrier’s effort to attract higher-weight freight from customers that value premium service. Service metrics underpinned the financial results. The company’s claims ratio fell 40% year over year, and its internally tracked Net Promoter Score improved 15% over the same period. The operating ratio came in at 87.6, and newly opened facilities saw OR improvement of roughly 40 basis points year over year, with operating income at those locations up about 22%. “We see the potential in this business to really drive, as we continue to mature the network, mature our portfolio of customers, the opportunity is really to get our OR kind of into the, you know, sort of low 80s, upper 70s,” the CEO said. “Good quarter, but just kind of tip of the iceberg of where I think we could take this.” One persistent drag is the Los Angeles region, which the CEO described as the carrier’s longest length of haul and highest revenue-per-bill market. That market has remained soft year over year, creating a mix headwind. He attributed the weakness partly to modal shift and partly to disciplined pricing — acknowledging that some freight simply does not fit Saia’s network economics at current rate expectations. On the network side, Saia has added more than 40 facilities and relocated 25 since 2022, bringing 60% of its locations within 50 miles of 60% of the addressable U.S. market. That compares with 35% in 2017. The carrier now operates 219 facilities across the lower 48 states. Future expansion will be more measured, with the CEO pointing to underpenetrated markets — citing Trenton, New Jersey, and Laredo, Texas, among facilities acquired through the bankruptcy auction process — as areas with long-term strategic value. “We are as well positioned as the company has ever been,” he said, adding that the focus going forward will be converting newer facilities into established markets with double-digit share, similar to what Saia has achieved in Texas over many years.Saia posted record Q3 revenue of $982.5M, up 17% YoY, with EPS of $3.41 and an 87.6 operating ratioClaims ratio dropped 40% and Net Promoter Score rose 15% YoY, while tonnage per workday hit a record, up ~8.9%Saia announced a $250M share repurchase and targets an OR in the low 80s to upper 70s as its 40-plus new facilities since 2022 matureThis Summary is generated thanks to a transcription of the interview, for the full interview please enjoy the video above. The post SAIA’s Record $982.5M Q3 Revenue | What’s Next? appeared first on FreightWaves.
