Top 50 trucking company rankings 2018

Top 50 trucking company rankings 2018

Combined truckload revenue at the top 50 US operators jumped 13.8 percent to $42.26 billion in 2018, while total LTL revenue rose 10.6 percent year over year to $42.93 billion. Photo credit: Shutterstock.com.

Strong domestic economic growth and the tightest trucking market on record translated into double-digit percentage gains for the top 50 US truckload and less-than-truckload (LTL) operators last year.

The 50 largest domestic carriers saw their combined truckload revenue surge 13.8 percent to $42.26 billion in 2018, with only four companies reporting declines from 2017, according to the JOC Top 50 Truckload Companies 2018 rankings. Total LTL revenue for the largest companies, meanwhile, rose 10.6 percent year over year to $42.93 billion. Only three LTL operators showed declines in revenue, one of which — LME, Inc. — shut down permanently earlier this year.

The top eight truckload carriers remained the same — Swift Transportation, Schneider National, J.B. Hunt Transport Services, Landstar System, Prime, Werner Enterprises, CRST International, and U.S. Xpress International — and of those, only Swift posted a decline in revenue, down 5.9 percent to $3.15 billion. However, the other half of Knight-Swift Transportation Holdings, Knight Transportation, posted a 26.2 percent gain in truckload revenue to $1.14 billion.

Fast-growing Daseke jumped into the top 10 truckload operators for the first time in 2018, securing the No. 9 spot thanks to a 91.3 percent increase in revenue to $1.35 billion. The strong revenue growth was fueled primarily by the firm’s acquisitions, which included Leavitt’s Freight Service, Builders Transportation Co., Kelsey Trail Trucking, Aveda Transportation, and Belmont Enterprises. The largest percentage gains, however, were seen at Hub Group, which moved up three spots (from 50 to 47) as revenues skyrocketed 154.6 percent, albeit from a much smaller base, to $293 million. Hirschbach Motor Lines jumped 11 spots (from 44 to 33) on 63.2 percent growth to $454 million.

Among the 50 largest LTL carriers, FedEx maintained its sizable lead on the rest of the sector with a 15.9 percent increase in revenue to over $7.35 billion. Old Dominion Freight Line (ODFL) surpassed XPO Logistics to take the No. 2 spot thanks to a 20.6 percent bump to $3.98 billion, making it the third-fastest growing LTL carrier in the country. Estes Express Lines took the No. 5 spot from UPS Freight with a 13.4 percent year-over-year increase to $2.79 billion.

In addition to ODFL, the fastest growing LTL operators last year were Cross Country Freight Solutions, which saw revenue surge 94.3 percent to $87 million, taking it up seven spots (from 50 to 43); and Fastfrate, which gained two spots (from 36 to 34) as revenue grew 22.3 percent to $151 million.

The annual JOC rankings also illustrate a fundamental difference between the two United States trucking markets. In the much more fragmented, top-heavy LTL sector, No. 1 carrier FedEx Freight ($7.35 billion) pulled down more than 1.8 times the revenue of the next-largest operator; nearly six times that of the No. 10 carrier, Southeastern Freight Lines ($1.24 billion); and 144 times that of the No. 50 carrier, Southwestern Motor Transport ($51 million). By contrast, the spread between the No. 1 truckload company, Swift Transportation ($3.15 billion), and No. 50, Acme ($276 million), is just 11.4x.

JOC.com’s annual Top 50 Truckload Carriers and Top 50 LTL Carriers rankings are assembled by SJ Consulting Group using company financial reports and SJ Consulting Group estimates. Revenue figures are expressed in millions of US dollars. Truckload revenue figures may include less than 10 percent for LTL and other services, and LTL revenue may include less than 10 percent for truckload and other services.

 

JOC TOP 50 TRUCKLOAD CARRIERS 2018

Annual revenue including fuel surcharges in millions of US dollars with year-over-year change
RankCarrier name2017 Revenue2018 Revenue2017-2018 Percent GrowthPublic /private
1Swift Transportation$3,344$3,146-5.9%Public
2Schneider National$2,457$2,6758.9%Public
3J.B. Hunt Transport Services$2,097$2,58123.1%Public
4Landstar System$1,826$2,24322.9%Public
5Prime$1,638$1,93718.3%Private
6Werner Enterprises$1,609$1,85315.2%Public
7CRST International$1,448$1,5839.3%Private
8U.S. Xpress Enterprises$1,382$1,56213.0%Public
9Daseke$703$1,34591.3%Public
10Crete Carrier Corp.$1,005$1,15114.5%Private
11Knight Transportation$906$1,14426.2%Public
12Ryder Systems$899$1,09421.7%Public
13CR England$894$1,00312.2%Private
14Penske Logistics$697$91931.9%Private
15Roadrunner Transportation$902$9141.4%Public
16Ruan Transportation Management Services $764$8136.4%Private
17TFI International$787$8113.2%Public
18Celadon Group$856$762-11.0%Public
19Covenant Transportation Group$601$70617.3%Public
20Western Express$566$69522.8%Private
21Anderson Trucking Service$605$67411.2%Private
22Stevens Transport$607$6679.9%Private
23PS Logistics$521$65425.4%Private
24Cardinal Logistics$613$6455.2%Private
25Heartland Express$607$6110.6%Public
26Mercer Transportation$493$60322.3%Private
27Marten Transport$547$5999.5%Public
28NFI Industries$520$57210.0%Private
29Universal Truckload Services$502$5519.7%Public
30KLLM$487$5359.9%Private
31First Fleet$435$50917.1%Private
32TMC / Annett Holdings$413$46412.3%Private
33Hirschbach Motor Lines$278$45463.2%Private
34PAM Transportation$387$44414.8%Public
35Roehl Transport$378$42111.6%Private
36Dart Transit$402$4194.2%Private
37Averitt Express$387$4085.4%Private
38Black Horse Carriers$340$40418.7%Private
39USA Truck$302$34815.1%Public
40Mesilla Valley / MVT$385$343-10.8%Private
41Cowan Systems$306$3349.3%Private
42Panther Premium Logistics$284$31912.3%Public
43Transam Trucking$280$3079.5%Private
44Maverick Transportation$277$3029.2%Private
45FedEx Custom Critical$314$296-5.8%Public
46John Christner Trucking$245$29520.6%Private
47Hub Group$115$293154.6%Public
48Melton Truck Lines$266$2939.9%Private
49PGT Holdings$225$28024.4%Private
50Acme Truck Line$227$27621.4%Private
TOTAL TOP 50 TRUCKLOAD CARRIERS $37,128$42,25513.8% 
Revenues primarily for truckload operations and may include less than ten percent for non-truckload services
Source: Company Reports and SJ Consulting Group estimates
Prepared by SJ Consulting Group, Inc.

 

 

JOC TOP 50 LESS-THAN-TRUCKLOAD (LTL) CARRIERS 2018

Annual revenue including fuel surcharges in millions of US dollars with year-over-year change.
RankCarrier name2017 Revenue2018 Revenue2017-2018 Percent GrowthPublic /private
1FedEx Freight$6,343$7,35215.9% Public 
2Old Dominion Freight Line$3,304$3,98320.6% Public 
3XPO Logistics$3,641$3,8305.2% Public 
4YRC Freight$3,033$3,1534.0% Public 
5Estes Express Lines$2,457$2,78713.4% Private 
6UPS Freight$2,598$2,7064.2% Public 
7ABF Freight System$1,949$2,1248.9% Public 
8R+L Carriers$1,580$1,6927.1% Private 
9Saia Motor Freight Line$1,405$1,65417.7% Public 
10Southeastern Freight Lines$1,116$1,23710.8% Private 
11Holland$1,132$1,1784.0% Public 
12Averitt Express$769$89115.9% Private 
13Central Transport International $754$8259.4% Private 
14TFI International*$766$8166.5% Public 
15Forward Air$656$74814.0% Public 
16Dayton Freight Lines                      $571$65915.4% Private 
17Pitt Ohio Transportation Group$556$61610.7% Private 
18AAA Cooper Transportation $554$6069.5% Private 
19Manitoulin Transport*$471$52411.1% Private 
20Roadrunner Transportation$464$458-1.2% Public 
21Reddaway$412$4243.0% Public 
22A. Duie Pyle$310$35113.2% Private 
23New England Motor Freight$345$343-0.6% Private 
24Day & Ross Freight*$278$31212.2% Private 
25New Penn Motor Express$281$2934.4% Public 
26Daylight Transport$229$26415.3% Private 
27Central Freight Lines$263$248-5.7% Private 
28Oak Harbor Freight Lines$208$2268.7% Private 
29Mullen Group *$207$2248.5% Public 
30Lynden Transport$198$22011.0% Private 
31Midland Transport*$173$19210.8% Private 
32Ward Trucking Corporation$166$18913.6% Private 
33M-O Freight Lines*$147$1608.4% Private 
34Fastfrate*$124$15122.3% Private 
35Watkins Shepard$125$14112.7% Public 
36LME$134$1394.0% Private 
37Armour Transportation$123$1327.7% Private 
38Standard Forwarding$110$1197.6% Private 
39Midwest Motor Express$105$11812.4% Private 
40Hercules Freight$89$10113.1% Private 
41Span Alaska$92$975.0% Private 
42American Fast Freight$83$907.7% Private 
43Cross Country Freight Solutions$45$8794.3% Private 
44Dependable Highway Express$74$8515.5% Private 
45TransX*$69$758.1% Private 
46Peninsula Truck Lines$66$729.0% Private 
47Sunbelt Furniture Xpress $67$704.0% Private 
48North Park Transportation$58$6410.6% Private 
49Mountain Valley Express$54$551.9% Private 
50Southwestern Motor Transport$47$518.6% Private 
TOTAL TOP 50 LTL CARRIERS $38,802$42,93010.6% 
Revenues primarily for LTL operations and may include less than ten percent for truckload and other services
Impact of acquisitions on revenues is based on actual revenue recorded after acquisition by the acquiring company and is not a pro forma result
*Canadian-based company
Source: Company Reports and SJ Consulting Group estimates
Prepared by SJ Consulting Group, Inc.

 

 

Comments

Very helpful, well done.