HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (NASDAQ:FRGT) ("Fr8Tech''), a technology company whose custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning that provides a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, announces its integration with Tecnomotum, one of the largest data transmission companies for haulage in Mexico. Tecnomotum provides customers with technology and informat ...

The company's quarterly results highlight the resilience of the business. The trucking recession isn't over, but Old Dominion Freight Line (ODFL -4.65%) provided a reminder last month that it is a best-in-class operator able to navigate through the slowdown. Shares of Old Dominion climbed 19% in July, according to data provided by S&P Global Market Intelligence, after the company generated a better-than-expected second-quarter profit. Cost controls drive an earnings beat It has been a tough year for truckin ...

Key Takeaways C.H. Robinson Worldwide shares soared after the freight transportation firm topped estimates with its second-quarter profits. The logistics firm has implemented a new operating model to reduce costs as it navigates the macroeconomic challenges facing the shipping industry. Analysts reacted favorably to the financial results, with BMO Capital Markets boosting its price target on C.H. Robinson stock. C.H. Robinson Worldwide (CHRW) shares delivered major gains after the freight transportation and ...

It's been a difficult time to be a logistics and transport company. During the last few years, the sector has undergone a tumultuous period navigating supply chains, inflation, and now a freight recession as an imbalance of supply and demand for trucking leaves the market dry. However, for those that look under the hood of the companies in the sector, as well as which ones are poised to benefit from a rebound, I believe that Marten Transport, Ltd. (NASDAQ:MRTN) should be a strong candidate to come out ahead ...

HOUSTON, July 08, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) ("Fr8Tech" or "Freight Technologies"),a technology-driven logistics company offering Fr8App, its proprietary and industry-leading freight-matching platform powered by AI and machine-learning that provides a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, announced today the official launch of Waavely, a state-of-the-art platform designed to revolutionize ocean freight booking an ...

HOUSTON, July 08, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) ("Fr8Tech" or "Freight Technologies"),a technology-driven logistics company offering Fr8App, its proprietary and industry-leading freight-matching platform powered by AI and machine-learning that provides a real-time portal for B2B cross-border shipping and domestic shipping within the USMCA region, announced today the official launch of Waavely, a state-of-the-art platform designed to revolutionize ocean freight booking an ...

Core Viewpoint - Old Dominion Freight Line Inc (ODFL) is positioned as a strong player in the less-than-truckload (LTL) segment, demonstrating impressive growth and financial health despite industry challenges [4][31]. Company Overview - ODFL has achieved an annual revenue growth rate of 11.8% from 2002 to 2023, increasing its market share from approximately 3% to 12% [7][32]. - The company boasts a return on invested capital exceeding 30%, contributing to a stock price increase of over 660% [8][32]. - ODFL maintains a low operating ratio of around 70%, which is indicative of its operational efficiency and pricing power in a competitive market [9][32]. Financial Health - The company ended the first quarter with approximately $500 million in net cash, with expectations to increase this to $1.5 billion by the end of 2026 [10][32]. - ODFL has repurchased 16% of its shares over the past decade, supported by a healthy balance sheet and strong cash flow [10][32]. - The dividend yield stands at 0.6%, with a five-year compound annual growth rate (CAGR) of 36% and a low payout ratio of 15%, indicating potential for future dividend growth [10][32]. Recent Performance - In the second quarter update, ODFL reported a 5.6% increase in revenue per day compared to May 2023, driven by a 1.5% rise in LTL tons per day [25][32]. - The company noted improvements in both volume and pricing, with LTL revenue per hundredweight increasing by 4.2% year-over-year [25][32]. - The overall pricing environment for LTL is improving, with a reported 8.2% year-over-year increase in the Producer Price Index for LTL long-distance trucking [25][32]. Industry Context - The LTL segment is less competitive than truckload transportation, allowing ODFL to leverage its superior service quality for pricing power [8][32]. - Despite challenges such as excess capacity and competitive pressures, ODFL is positioned to outperform, particularly following the bankruptcy of Yellow Corporation [20][32]. - The company is expected to invest $750 million in growth this year, maintaining approximately 30% excess capacity in its service centers, which positions it well for future demand increases [29][32]. Valuation and Outlook - ODFL is currently trading at a blended P/E ratio of 31.0x, above its long-term normalized P/E ratio of 22.7x, indicating a potentially lofty valuation [29][32]. - Analysts project an EPS of $7.70 by 2026, suggesting a target stock price of $202, which is 13% above the current price [29][32]. - The company is expected to continue delivering strong returns and dividend growth, particularly if there is a recovery in freight demand [30][32].

As a result of the expansion, Fr8App now provides dual logistic services for Amazon Mexico. As announced in December 2023, Fr8App was selected for the second consecutive year to help manage the logistics needs of Amazon's high-demand season within Mexico. Fr8App's role has now been expanded to include U.S.-Mexico, cross-border shipping. This development emphasizes Fr8App's expanding impact in the logistics sector and illustrates the critical need for smooth cross-border operations within the USMCA region. B ...

HOUSTON, June 14, 2024 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT) ("Fr8Tech'' or "Freight Technologies"), a technology company whose custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning and offers a real-time portal for B2B crossborder shipping and domestic shipping within the USMCA region, recently participated in Chardan's Transport Platform Tech Series. This virtual conference featured key industry players and highlighted Freight Tec ...

Company Overview - Freight Technologies, Inc. (NASDAQ:FRGT) is a technology company focused on optimizing and automating the supply chain process through its Fr8App platform, which is designed for B2B cross-border shipping within the USMCA region [6][9] - Fr8App utilizes AI and machine learning to enhance the efficiency, transparency, and flexibility of the shipping process, providing real-time tracking, live pricing, and a digital freight marketplace [9][10] Industry Context - The company participated in Chardan's Transport Platform Tech Series, highlighting its mission to revolutionize cross-border shipping and address current industry challenges [6][7] - There is a growing trend of multinational companies investing in Mexico, making it the largest trading partner of the United States, which increases the demand for innovative shipping solutions like Fr8App [8] Leadership Insights - CEO Javier Selgas and CFO Don Quinby presented their vision for transforming traditional over-the-road (OTR) shipping processes, emphasizing the need for resilience and agility in the face of global challenges such as the COVID-19 pandemic and trade disputes [7][10] - The leadership team underscored the importance of having robust systems and technology to navigate risks in the shipping industry, positioning Fr8App as a solution to these challenges [10]