Combined revenues among the 25 largest US LTL trucking companies jumped more than 20 percent in 2021, and the market conditions that allowed for that record-setting revenue growth remain firmly in place in early 2022.
Double-digit increases in tonnage and volume at two of the largest less-than-truckload carriers in February reflect strong overall demand from US retail and industrial shippers.
LTL freight volumes and tonnage are increasing year over year in the fourth quarter, but the pandemic’s latest waves could slow growth until COVID-19 vaccines become available.
Compared with the freight boom of 2018, last year was disappointing for US less-than-truckload carriers, but pricing discipline allow the largest operators to maintain — and in some cases increase — their top line revenue.
The third quarter was good to practically all the publicly owned U.S. trucking companies: none reported losses, and their combined revenue rose 10.7 percent to more than $10 billion, supported by a second quarter of stronger freight demand and economic growth.
Heavier freight, higher rates and a redesigned network helped regional carrier Saia send profit skyrocketing in the second quarter, despite hauling fewer shipments.