Freight market pulse weekend wrap

Every FreightWaves article is designed to assist our readers in becoming the most informed professionals in the transportation and logistics industry. These articles may have flown under your radar this week. We consider them essential reading.

WEX identifies cause of fuel card problems: Too much data: In a statement to customers, WEX (NYSE: WEX) said issues with its fuel cards, including its EFS and FleetOne cards, were due to an unknown data limit issue within its IBM Informix system.

Echo beats on revenue and earnings in ‘challenging freight market’ (with video): Detailing its financial and operating results for the fourth quarter of 2019 on Wednesday after the close, Echo Global Logistics (NASDAQ: ECHO) reported non-GAAP earnings per share of 26 cents, beating the Street’s estimate of 16 cents; Echo’s revenue of $531.7 million beat estimates of $522 million.

How does the gig economy hurt truckers?: When the gig economy became a reality, people quickly started speculating about how it would impact the ways individuals earn money. Now that it’s a major part of today’s society, there’s no question that it changed income-earning. Not all the differences are positive, however, particularly for workers in the trucking industry. 

Online Haul of Fame: Preston 151: Known on northeastern highways for its iconic orange and white trucks, Preston 151 was founded in 1932 in the Chesapeake Bay area of the United States.

YRC’s fourth quarter EPS less bad than forecast; rest of picture looks dark: Less-than-truckload (LTL) carrier YRC Worldwide, Inc. (NASDAQ:YRCW) ended a forgettable 2019 by posting a net loss in the fourth quarter, but at least the deficit was less than what had been forecast.

Regional Rail to acquire Carolina Coastal Railway: Short line operator Regional Rail will be acquiring Carolina Coastal Railway, a 180-mile freight rail line located primarily in North Carolina.

C.A.T. acquires Penner International in big boost for fleet and Canadian network: C.A.T.’s purchase of Manitoba truckload carrier will rev up east-west moves in Canada and cross-border freight with Western U.S. while expanding tractor count by 50%.

Mack Trucks boss cheers electrification infrastructure proposal: Even with a 13-day labor strike and volatile Class 8 orders, Martin Weissburg says running Mack Trucks is his favorite job in a 15-year career with Sweden’s Volvo Group (OTC: VLVLY). 

Is a Navistar transition a factor in TRATON bid timing?: CEO Troy Clarke ages out this year after mostly completing truck maker’s turnaround.

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