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Profits at Ryder System Inc. fell 39.8% in the fourth quarter of 2023 as weak freight conditions again sapped strength from used vehicle sales prices and rental activity, it said Feb. 14.

Less-than-truckload carrier XPO Inc. is working to reduce its leverage after it purchased assets from Yellow Corp. and might consider buying back some of its debt at par, its finance chief said.

Profits at TFI International in the fourth quarter fell 14.4% compared with the same period a year earlier, as acquisitions softened the impact of a weak freight environment.

Forward Air CEO Tom Schmitt exited the company days after finally completing the carrier’s at-times contentious merger with Omni Logistics.

LAS VEGAS — Artificial intelligence promises to unlock greater efficiency in the freight transportation industry, but implementing AI functions is not without its challenges.

Schneider National experienced a year-over-year decline in profits as well as revenue during the fourth quarter of 2023, the company reported Feb. 1.

Landstar System Inc. posted declines in net income and revenue during the fourth quarter of 2023, the company reported Jan. 31.

Ryder System Inc. is acquiring Cardinal Logistics in a deal that will add 2,900 power units, 3,400 drivers and 200 operating locations to its existing network.

Forward Air on Jan. 25 announced the completion of its long-pending acquisition of Omni Logistics, with both companies’ leaders touting the benefits of the merger.

UPS Inc. is reducing its overall employee head count by 12,000 workers, which the company says will save more than $1 billion, citing higher labor costs and softening demand.