2008 Top 100 For-Hire Carriers List
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A Word From the Publisher rucking is a service that Anderson Trucking Service reflects the ups and downs and LoneStar Transportation of the economy in North each saw revenue climb more America. So it’s not unusual than 20% in 2007. Both compa- to see freight carriers go nies benefited from a resur- through regular cycles of expansion gence of demand for flatbed T and heavy specialized hauling and retrenchment. Even so, this past year was a par- services as exports of U.S.- ticularly challenging one for many of made machinery and industrial the companies on the Transport goods boomed and domestic oil Topics Top 100 For-Hire Carriers and gas drilling activity list. increased in response to rising Soaring fuel costs and weak crude oil prices. freight demand led carriers to cut Another flatbed carrier, back on spending, lay off staff and Venture Transport Logistics, shrink the size of their fleets. was taken over by private equi- Two carriers – Jevic Transportation Howard S. Abramson ty firm Welsh, Carson, and Performance Transportation Anderson & Stowe and merged Services – went out of business, along with hun- with three oilfield haulers: Ace Transportation, dreds, if not thousands, of smaller carriers and inde- Dynasty Transportation and Texas Hot Shot Co. pendent owner-operators. Annual revenue for the combined companies is Revenue for the Top 100 for-hire carriers in 2007 $563 million. rose 4.7%, less than half the rate of the previous Higher fuel costs are probably here to stay and, year. A total of 26 carriers reported revenue declines as Senior Features Reporter Daniel P. Bearth in 2007, compared with 11 that saw revenue fall dur- reports, that is forcing shippers to rethink how and ing 2006. when they move freight and to consider new pack- Based on results of a survey done in conjunc- aging and product formulations that reduce the tion with the collection of data for the Top 100, volume and weight of shipments. fleet executives are expected to rein in spending We are likely to see, according to one expert, on equipment. modal shifts in which more goods are moved via Based on 64 responses, fleets say they plan to rail instead of truck, truckload instead of less-than- buy an average of 209 tractors in the next 12 truckload, and ground parcel delivery instead of months. That’s down 17% from the average of 252 air express. tractors purchased in the prior 12 months. Shippers also are reconsidering inventory An even greater decline is expected for trailers. strategies to reduce the distance needed to move Fleets surveyed said they plan to buy an average goods from where they are made or stored to of 249 trailers in the next 12 months, compared where they are used or purchased. with an average of 447 trailers in the previous As always, we expect that our readers will find year. the information and analysis in the Top 100 For- Even in a down year, however, there were Hire Carriers list to be an indispensable guide to pockets of prosperity and that is also reflected in understanding what’s going on. the financial and operating performance of carriers on the 2008 Top 100 For-Hire Carriers list. Acknowledgments and Sources The 2008 TRANSPORT TOPICS Top 100 is a special project of the Transport Topics Publishing Group that features finan- cial and operating information on the largest for-hire freight carriers in the United States, Canada and Mexico. Data were compiled from annual reports of publicly owned companies and directly from the management of privately owned com- panies. In some cases, revenue estimates were used to determine sector rankings. Senior Features Writer Daniel P. Bearth is the project coordinator, with assistance from research intern Andrew Chido. The design is by Patrick Donlon, assistant director of art and production. Cover Design by Shawn Torres and Louisa Wimberly. Page 3 RANK RANK REVENUE % NET INCOME % OPERATING UNITS 2007 2006 COMPANY (000) CHANGE (000) CHANGE EMPLOYEES EQUIPMENT (DESCRIPTION OF SERVICES) 1 UPS Inc. 49,692,000 4.5 382,000 -90.9 425,300 8,016 company tractors UPS Package Operations (air and ground package delivery) 1 Atlanta 47,547,000 4,202,000 427,700 93,637 company package cars, vans, UPS Supply Chain Solutions (transportation management, air, ocean and ground freight forwarding, customs bro- NYSE: UPS straight trucks and motorcycles kerage, supply chain design, contract carriage, refrigerated intermodal, service parts distribution and repair, returns D. Scott Davis, Chairman and CEO 22,097 trailers management, assembly and distribution, vehicle routing, dispatch and tracking systems) David Abney, Chief Operating Officer 268 aircraft UPS Freight (regional and interregional LTL) UPS Capital Corp. (equipment leasing, trade finance, freight payment and insurance) www.ups.com UPS Mail Innovations (mail processing) Mail Boxes Etc./The UPS Store (franchiser of retail shipping, postal and business service stores) UPS Professional Services (management consulting) UPS Air Cargo (air freight) 2 FedEx Corp.1 37,953,000 7.7 1,125,000 -44.2 290,000 58,500 company tractors FedEx Express (air and ground package and freight delivery) 2 Memphis, Tenn. 35,241,000 2,016,000 275,000 straight trucks and vans FedEx Ground (commercial and residential ground package delivery) NYSE: FDX 21,400 owner-operator tractors FedEx Freight (regional and national LTL) Frederick Smith, Chairman and CEO and straight trucks FedEx Truckload Brokerage (freight brokerage) 671 aircraft FedEx Custom Critical (air and ground expedited, vehicle hauling) www.fedex.com FedEx Trade Networks (air and ocean freight forwarding, customs brokerage) FedEx Office (copying, printing, packing, Internet, sign and banner services) FedEx Global Supply Chain Services (supply chain consulting, transportation management, order fulfillment, ware- housing and distribution, inventory management) FedEx Services (sales and marketing, information technology support) 2 3 DHL Americas 14,829,000 6.1 NA NA 87,185 22,600 company tractors, DHL Express (air and ground package delivery) 3 Plantation, Fla. 13,978,000 NA 81,175 straight trucks and vans DHL Global Forwarding (air and ocean freight forwarding) Ken Allen, CEO, DHL Express, US DHL Exel Supply Chain (supply chain consulting, transportation management, freight brokerage, warehousing and William Meahl, CEO, DHL Exel distribution, contract carriage, contract manufacturing, assembly and packaging, residential and commercial delivery, Supply Chain Americas returns management, service parts distribution) Exel Transportation Services (freight brokerage, intermodal) www.dhl-usa.com DHL Global Mail (direct mail, packaging, order fulfillment) Astar Air Cargo, Polar Air Cargo (air freight, 49% interest) 4 YRC Worldwide 9,621,316 -3.0 (638,381) NA 63,000 26,137 company tractors YRC North American Transportation 4 Overland Park, Kan. 9,918,690 276,632 66,000 and straight trucks Yellow Transportation, Roadway Express, Reimer Express Lines (national and international LTL and TL, expedited, Nasdaq: YRCW 86,462 trailers cross-border services) William Zollars, Chairman and CEO YRC Regional Transportation New Penn Motor Express, USF Holland, USF Reddaway (regional and interregional LTL and TL, cross-border www.yrcw.com services) USF Glen Moore (dry van TL) YRC Logistics (transportation management, warehousing and distribution, air and ocean freight forwarding, freight brokerage) YRC Worldwide Technologies (information technology) JHJ International Transportation Co. (air and ocean freight forwarding, warehousing in China, 50% ownership) Shanghai Jiayu Logistics Ltd. (LTL freight services in China) 5 Ryder System 6,565,995 4.1 253,861 2.0 28,800 50,400 company tractors Ryder Fleet Management Solutions (equipment leasing and rental, contract maintenance, emergency roadside assis- 5 Miami 6,306,643 249,000 28,600 62,800 company straight trucks tance, used truck sales — includes assets of Lily Transportation Corp. and Gator Leasing Inc., acquired in January NYSE: R 40,400 trailers and May 2008, respectively) Gregory Swienton, Chairman and CEO Ryder Supply Chain Solutions (supply chain consulting, transportation management, warehousing and distribution, freight brokerage, trade services) www.ryder.com Ryder Dedicated Contract Carriage (contract carriage) 3 6 Con-way Inc. 4,387,363 3.9 145,952 -43.6 27,100 11,200 company tractors Con-way Freight (regional and interregional LTL) 6 San Mateo, Calif. 4,221,478 258,978 21,800 and straight trucks Con-way Truckload (dry van truckload — includes operations of Contract Freighters Inc., acquired in August 2007) NYSE: CNW 31,100 trailers Menlo Worldwide Logistics (supply chain consulting, transportation management, contract carriage, warehousing Douglas Stotlar, CEO and distribution, freight brokerage — includes Cougar Holdings and Chic Holdings, acquired in September and October 2007, respectively) www.con-way.com Road Systems (trailer manufacturing) 7 Penske Truck Leasing Co. 4,100,000 2.5 NA NA 20,000 64,800 company tractors Penske Truck Leasing (equipment leasing and rental, contract maintenance, used truck sales) 7 Reading, Pa. 4,000,000 NA 20,000 94,000 straight trucks Penske Logistics (supply chain consulting, transportation management, contract carriage, warehousing and distribu- (Penske Corp./General Electric Co.) 56,500 trailers tion, air and ocean freight forwarding) Roger Penske, Chairman Brian Hard, President www.pensketruckleasing.com 9 J.B. Hunt Transport Services 3,489,899 4.9 213,134 -3.1 15,795 10,308 company tractors J.B. Hunt Intermodal (intermodal and drayage) 8 Lowell, Ark. 3,327,987 219,952 17,150 1,084 owner-operator tractors J.B. Hunt Truck (dry van TL) Nasdaq: JBHT 26,578 trailers J.B. Hunt Dedicated Contract Services (contract carriage) Wayne Garrison, Chairman 34,019 containers Integrated Capacity Solutions (freight brokerage) Kirk Thompson, CEO Transplace Inc. (supply chain consulting and transportation management, 37% ownership) Craig Harper, Chief Operating Officer www.jbhunt.com 4 — 2008 TRANSPORT TOPICS TOP 100 FOR-HIRE CARRIERS This Transport Topics 100 PDF is sponsored by R. L.