Transport Topics | Standard Page 8.5 x 11 | August 2016
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Growth for Top For-Hire Carriers Fueled by Mergers and Acquisitions
By Daniel P. Bearth Senior Features Writer
T he 2016 Transport Topics Top 100 list of the largest for-hire carriers in the United States and Canada reflects new realities for trucking. Longtime industry leaders UPS Inc. and FedEx Corp. have expanded their transportation and logistics services with major acquisitions over the past year. They include UPS' purchase of freight brokerage specialist Coyote Logistics and FedEx's buyout of Genco, a warehousing and e-commerce distribution firm in the United States, and TNT Express, a global package delivery and logistics firm based in the Netherlands.
XPO Logistics joined the top ranks of for-hire carriers, jumping to No. 3 on the for-hire TT100 this year from No. 14 a year ago, by virtue of its blockbuster acquisitions of Con-way Inc., French freight carrier and distribution company Norbert Dentressangle and U.S.-based intermodal drayage firm Bridge Terminal Transport.
While mergers and acquisitions are not uncommon in trucking, these deals stand out.
With the purchase of Coyote, UPS gains access to more capacity to handle its peak shipping needs and a platform for providing transportation across all sectors of trucking. FedEx CEO Fred Smith said the acquisition of TNT "marks the beginning of a new era" and the addition of Genco gives the company new capabilities to provide e-commerce services. Brad Jacobs, CEO of XPO Logistics, said his company now is among the largest providers of less-than-truckload, truckload and intermodal freight services in North America.
Others also are making waves. Schneider, one of the nation's largest truckload carriers, acquired two companies -- Watkins & Shepard and Lodeso -- to start a business unit providing final-mile delivery of heavy goods. PS Logistics, a company started by Robbie Pike and Steve Smith in 2004, is making its first appearance -- at No. 56 -- with annual revenue of $491 million. Based in Birmingham, Alabama, the company
operates a group of for-hire and dedicated private fleets and provides flatbed and refrigerated truckload, freight brokerage and transportation management services.
Daseke Inc., a company headed by former real estate investor Don Daseke, climbed to No. 44 from No. 49 and expanded its family of flatbed and heavy specialized carriers with the addition of Lone Star Transportation in Texas and Bulldog Hiway Express in South Carolina.
Montreal-based Dicom Transportation Group was among the biggest movers this year, coming in at No. 75 from No. 92 a year ago. The company acquired regional parcel carrier Eastern Connection in 2015 as part of a strategy to provide commercial delivery and expedited freight services in the United States and Canada.
Other companies listed for the first time include: ? National Carriers (No. 94), a refrigerated truckload carrier based in Irving, Texas. ? PGT Trucking (No. 96), a carrier based in Monaca, Pennsylvania, that provides flatbed/heavy specialized and tank/bulk freight services. ? Dupr? Logistics (No. 97), a petroleum and chemical tank truck fleet based in Lafayette, Louisiana. ? May Trucking (No. 98), a dry van and refrigerated truckload carrier based in Salem, Oregon. ? Oak Harbor Freight Lines (99), a regional less-than-truckload carrier based in Auburn, Washington. Quality Distribution Inc., a Tampa, Florida-based tank truck carrier that ranked No. 39 a year ago, is not listed this year because company officials declined to provide data. The publicly-owned company was taken private last year by Apax Partners. Data for all companies on the Top 100 list come from company management or through annual reports filed with government agencies in the United States and Canada. Where no data are available, or where company executives decline to release information about revenue, companies may be listed in various trucking sectors based on data provided by S.J. Consulting Group and other third-party industry sources.
Acknowledgments and Sources
The 2016 Transport Topics Top 100 is an annual project of Transport Topics with assistance from SJ Consulting Group. In some cases, revenue estimates were used to determine sector rankings. Senior Features Writer Daniel P. Bearth coordinated the project with help from editorial researcher Brandon Green. It was edited by Neil Abt. Cover design is by Joseph Terry, senior designer, and layout by Debra Devine, production manager. Firms wishing to participate in the 2017 Top 100 list can contact Transport Topics at tteditor@.
Transport Topics Top 100 For-Hire Carriers is sponsored online by EFS and TMW
Rank 2015
1
Rank 2014
Company
1
UPS Inc.
Atlanta
NYSE: UPS
David Abney, Chairman and CEO Richard Peretz, CFO Alan Gershenhom, CCO Teresa Finley, CMO Juan Perez, CIO
2
2
FedEx Corp.1
Memphis, Tenn.
NYSE: FDX
Frederick Smith, Chairman and CEO Alan Graf Jr., CFO Robert Carter, CIO
3
14 XPO Logistics Greenwich, Conn.
NYSE: XPO
Bradley Jacobs, Chairman and CEO Tony Brooks, President, LTL Troy Cooper, COO John Hardig, CFO Scott Malat, CSO
1 Challenger Group revenue is for 12 months ended April 30, 2016, and April 30, 2015.
Revenue (000)
% Net Income % Change (000) Change Employees
$58,400,000 0.3 $4,800,000 58.3 444,000
$58,232,000
$3,032,000
435,000
$49,600,000 5.3 $2,866,000 13.2 340,000
$47,100,000
$2,532,000
325,000
$7,623,200 223.5 ($245,900) NA 87,000
$2,356,600
($63,600)
10,000
Equipment
Operating Units (Description of Services)
109,423 company-owned tractors, straight trucks, package cars, vans, and motorcycles 237 aircraft
UPS Package Operations (air and ground package delivery) UPS Supply Chain Solutions (transportation management, air, ocean, rail and ground freight forwarding, customs brokerage, supply chain consulting and network design, dedicated contract carriage, service parts distribution and repair, returns management, order fulfillment, assembly and distribution) Coyote Logistics (freight brokerage, acquired in August 2015) UPS Freight (regional and interregional LTL, truckload, expedited, dedicated contract carriage, refrigerated intermodal) UPS Capital Corp. (equipment leasing, trade finance, freight payment and insurance) UPS Mail Innovations (mail processing) The UPS Store Inc. (franchiser of retail shipping, postal and business service stores)
27,282 company-owned tractors 72,488 straight trucks 102,014 trailers 657 aircraft
FedEx Express, FedEx Trade Networks, FedEx SupplyChain, FedEx CrossBorder (domestic and international air and ground package delivery, air and ocean freight forwarding, customs brokerage, tranportation management, order fulfillment, warehousing and distribution, service parts and returned goods management, supply chain consulting, includes operations of TNT Express acquired in May) FedEx Ground, FedEx Home Delivery, FedEx SmartPost (commercial and residential ground package delivery and consolidation) Genco (warehousing and distribution, returned goods management, order fulfillment and contract packaging, parts testing, repair and refurbishment) FedEx Freight, FedEx Custom Critical (regional and national LTL, expedited) FedEx Services, FedEx Office, FedEx TechConnect (sales and marketing, information technology support, copying and printing services, signs and banners, data management, e-commerce services)
11,361 company-owned
XPO Logistics (freight brokerage, regional and interregional
tractors
LTL, dry van TL, dedicated contract carriage, intermodal/
124 lease-to-own tractors drayage, air/expedited, commercial and residential delivery,
6,566 owner-operator tractors air and ocean freight forwarding, transportation management,
190 straight trucks
includes operations of UX Specialized Logistics, Bridge
27,501 trailers
Terminal Transport, Norbert Dentressangle and Con-way Inc.
10,000 containers
acquired in 2015)
XPO Logistics Supply Chain (warehousing and distribution,
order fufillment, returned goods management)
NA = Not Applicable or Not Available 2015 numbers printed in red
Transport Topics Top 100 For-Hire Carriers is sponsored online by EFS and TMW
Rank 2015
4 5 6
7
8
Rank 2014
Company
3
J.B. Hunt Transport Services Inc.
Lowell, Ark.
Nasdaq: JBHT
Kirk Thompson, Chairman John Roberts III, President and CEO David Mee, CFO
5
YRC Worldwide
Overland Park, Kan.
Nasdaq: YRCW
James Hoffman, Chairman James Welch, CEO Jamie Pierson, CFO
6
Swift Transportation
Phoenix
NYSE: SWFT
Rich Dozer, Chairman Jerry Moyes, CEO Richard Stocking, President and COO Virginia Henkels, CFO
7
Schneider
Green Bay, Wis.
Chris Lofgren, President Mark Rourke, COO Lori Lutey, CFO
8
Hub Group
Oak Brook, Ill.
Nasdaq: HUBG
David Yeager, Chairman and CEO Donald Maltby, President and COO Terri Pizzuto, CFO
Revenue (000)
% Net Income % Change (000) Change Employees
$6,187,646 0.4 $427,235 14.0 21,455
$6,165,441
$374,792
20,158
Equipment
Operating Units (Description of Services)
12,500 company-owned
J.B. Hunt Intermodal (intermodal/drayage)
tractors
J.B. Hunt Truck (dry van TL)
1,502 owner-operator tractors J.B. Hunt Dedicated Contract Services, (dedicated contract
29,276 trailers
carriage, commercial and residential delivery and installation
78,957 containers
services)
J.B. Hunt Integrated Capacity Solutions (freight brokerage)
$4,832,400 -4.7
$700 NA 32,000
$5,068,800
($67,700)
33,000
12,800 company-owned tractors 2,300 lease-to-own tractors 45,000 trailers
YRC Freight (national and international LTL and TL, expedited, cross-border services) YRC Reimer (regional and interregional LTL in Canada, crossborder services) New Penn, Holland, Reddaway (regional and interregional LTL and TL, expedited, cross-border services)
$4,229,322 -1.6 $197,577 22.6 21,000
$4,298,724
$161,151
21,274
7,442 company-owned
Swift Transportation (dry van and refrigerated TL, flatbed and
tractors
heavy specialized, dedicated contract carriage, intermodal,
7,769 lease-to-own tractors cross-border services, drayage, transportation management
4,653 owner-operator tractors and freight brokerage, equipment leasing and insurance)
65,233 trailers
Central Refrigerated (refrigerated TL)
9,150 containers
Swift Logistics (freight brokerage, transportation management,
supply chain consulting)
Trans-Mex (dry van TL in Mexico)
$4,000,000 2.6 $3,900,000
$3,525,595 -1.3 $3,571,126
NA NA 18,132
NA
17,450
$70,949 37.6 2,605
$51,558
2,568
10,120 company-owned
Schneider Truckload Services (dry van TL, expedited, dedicated
tractors
contract carriage)
2,900 owner-operator tractors Schneider Bulk Carriers (liquid bulk, chemical and petroleum
33,830 trailers
tank)
17,720 containers
Schneider Intermodal Services (intermodal)
Schneider Final Mile (commercial and residential delivery,
LTL, includes operations of Watkins & Shepard and Lodeso
acquired in June)
Schneider Logistics Services (transportation management,
freight brokerage, transloading and port drayage,
warehousing and distribution, supply chain consulting and
network design, domestic and international freight service in
China)
Schneider Finance (equipment leasing)
1,045 company-owned
Hub Group (intermodal)
tractors
Hub Highway (freight brokerage)
1,799 owner-operator tractors Unyson Logistics (transportation management, supply chain
452 trailers
consulting)
29,000 containers
Mode Transportation (freight brokerage)
Hub Group Trucking (intermodal/drayage, dry van TL,
dedicated contract carriage)
NA = Not Applicable or Not Available 2015 numbers printed in red
Transport Topics Top 100 For-Hire Carriers is sponsored online by EFS and TMW
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