The Daily Dash is a quick look at what’s happening in the freight ecosystem. In today’s edition, we highlight Knight-Swift’s first-quarter earnings report, good news for drivers at Heartland Express and more.
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The High Five
1. The nation’s largest truckload carrier, Knight-Swift Transportation, posted a better-than-expected first quarter. The Phoenix-based company reported adjusted earnings per share of 83 cents, 13 cents ahead of consensus and 39 cents better than the year-ago quarter. Todd Maiden’s report
2. Heartland Express CEO Mike Gerdin said the company plans to implement additional “driver pay enhancements” during the second quarter. “We also continue to navigate the challenge to recruit, hire and retain qualified and safe operating drivers,” he said. Todd Maiden’s story
3. Yellow Corp., the former YRC Worldwide, has agreed to a settlement of $2.1 million — an amount the company earlier had referred to as “immaterial” — in an ongoing 2018 lawsuit on price overcharges brought by the Department of Defense. John Kingston’s story
4. Its stock is trading in the single digits after giddy investors bid it above $50. Production is still a year away. But Hyliion Holdings CEO Thomas Healy sees reasons for optimism around the company’s natural gas-electric hybrid system for Class 8 trucks. Alan Adler with more
5. Canadian cross-border truckers based in Manitoba are able to get COVID-19 vaccines for free in North Dakota under a joint program with the province and state in the first effort of its kind by governments in the U.S. and Canada. Nate Tabak’s story
Five more to check out
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Renewable fuel requirements threaten to play bigger role in diesel price
Customs agents seize meth, chicken lollipops at Texas ports