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The three carriers bought a total of seven former Yellow terminals in private deals from the bankrupt LTL carrier’s administrators as each sought to bolster its LTL operations.

“We are pleased to report that this quarter is the first quarter in the last eight with year-over-year comparable earnings growth," CEO Robert Sanchez said during a call with investors.

The Iowa-based company posted a loss in the fourth quarter of 2024 as the ongoing integration of two acquisitions alongside the industrywide freight recession weighed heavily on its OR.

Werner Enterprises reported year-over-year income and revenue declines during the fourth quarter of 2024.

Fourth-quarter and full-year profit and revenue at Hub Group fell as lower revenue per load outweighed increased intermodal volume amid an ongoing weak freight market, the company said.

Universal Logistics Holdings experienced a 19% year-over-year increase in revenue but a slight dip in net income for the fourth quarter of 2024, the company reported Feb. 6.

The transportation sector saw merger and acquisition activity gain momentum as market conditions stabilized in the second half of 2024, according to experts.

Purolator, which specializes in package delivery and is majority owned by Canada Post, sees the deal as an international growth play, particularly as the threat of trade wars grows.

Beacon Roofing Supply has officially rejected a hostile takeover approach from QXO, setting the stage for a potentially protracted battle for control of the building supplies provider.

The Greenwich, Conn.-based less-than-truckload carrier posted net income of $76 million, compared with $58 million during the same time the previous year.