Covenant Logistics Group profits tumbled in the first quarter of 2024, with freight rates and volumes taking a toll on earnings as expected.
April 25, 2024The e-commerce, warehousing and supply chain giant debuts at the very top of the 2024 Top 100 Logistics Companies list
3PLs navigate tough business conditions and compressed margins while awaiting a freight market rebound
Find out where the Top 100 Logistics companies are located by region; click links to view details about each company
Rank This Year | Rank Last Year | Company | Net Revenue (Millions) | Gross Revenue (Millions) | Employees |
---|---|---|---|---|---|
1 | Amazon.com Inc. | - | $140,053 | - | |
2 | 1 | C.H. Robinson Worldwide | $2,399 est
|
$16,746 | 13,800 |
3 | 5 | J.B. Hunt Transport Services | $4,690 est
|
$12,510 | 35,000 |
4 | 4 | UPS Supply Chain Solutions | $6,850 est
|
$11,461 | 65,000 |
5 | 6 | GXO Logistics | $8,450 est
|
$9,778 | 87,000 |
6 | 3 | Kuehne + Nagel Americas | $2,724 est
|
$9,617 | 19,671 |
7 | 2 | Expeditors International of Washington | $3,246 est
|
$9,300 | 18,100 |
8 | 10 | Ryder Supply Chain Solutions | $5,700 est
|
$7,700 | 35,600 |
9 | 8 | Total Quality Logistics | $1,483 est
|
$6,866 | 9,000 |
10 | 7 | DSV A/S (North America) | $760 est
|
$6,000 | 10,300 |
11 | 13 | Armada Sunset Holdings | $218 est
|
$5,702 | 967 |
12 | 11 | Transportation Insight Holding Co. | $380 est
|
$5,279 | 2,000 |
13 | 9 | Uber Freight | $555 est
|
$5,245 | 3,300 |
14 | 12 | DHL Supply Chain | $4,624 est
|
$5,025 | 52,000 |
15 | 23 | Lineage Logistics | $5,000 est
|
$5,000 | 26,000 |
16 | 27 | Geodis (North America) | $2,750 est
|
$4,300 | 20,155 |
16 | 21 | Penske Logistics | $3,300 est
|
$4,300 | 21,126 |
18 | 15 | Hub Group | $1,800 est
|
$4,200 | 6,000 |
19 | 16 | WWEX Group | $867 est
|
$4,019 | 3,100 |
20 | 18 | RXO | $960 est
|
$3,927 | 8,432 |
21 | 20 | Schneider | $1,775 est
|
$3,717 | 11,600 |
22 | 22 | Echo Global Logistics | $555 est
|
$3,600 | 2,823 |
23 | 24 | NFI | $2,700 est
|
$3,500 | 16,800 |
24 | 14 | Ceva Logistics (North America) | $1,500 est
|
$3,325 | 11,000 |
25 | 17 | DB Schenker (North America) | $1,010 est
|
$3,250 | 11,201 |
26 | 19 | Landstar System | $465 est
|
$3,196 | 900 |
27 | PSA BDP | $715 est
|
$2,950 | 6,900 | |
28 | 25 | Maersk Logistics (Americas) | $960 est
|
$2,940 | 6,000 |
29 | 32 | Americold Logistics | - | $2,700 | 14,706 |
30 | 34 | Werner Enterprises | $1,583 est
|
$2,345 | 7,147 |
31 | 39 | Forward Air/Omni Logistics | $630 est
|
$2,307 | 6,400 |
32 | 25 | Mode Global | - | $2,302 | 625 |
33 | 40 | Capstone Logistics | $1,560 est
|
$1,970 | 18,500 |
34 | 30 | FedEx Logistics | $995 est
|
$1,950 | 18,000 |
35 | 29 | AIT Worldwide Logistics | $460 est
|
$1,856 | 2,707 |
36 | 31 | Arrive Logistics | $201 est
|
$1,800 | 1,700 |
37 | 37 | Knight-Swift Transportation | $895 est
|
$1,760 | 15,000 |
38 | 28 | Ascent Global Logistics | $254 est
|
$1,707 | 1,070 |
39 | 43 | TFI International | $220 est
|
$1,697 | 5,000 |
40 | 35 | ArcBest Corp. | $245 est
|
$1,680 | 1,397 |
41 | 44 | Ruan | $1,072 est
|
$1,552 | 5,000 |
42 | Flexport | $275 est
|
$1,500 | - | |
43 | 42 | Universal Logistics Holdings | $900 est
|
$1,324 | 7,800 |
44 | 57 | Kenco Group | $994 est
|
$1,284 | 7,000 |
45 | 52 | Redwood Logistics | $177 est
|
$1,276 | 820 |
46 | 50 | Radial | $820 est
|
$1,251 | 2,400 |
47 | 39 | Seko Logistics | $330 est
|
$1,220 | 1,800 |
48 | 46 | Allen Lund Co. | $165 est
|
$1,183 | 708 |
49 | 56 | ITS Logistics | $164 est
|
$1,120 | 820 |
50 | 65 | Priority-1 Inc. | - | $1,100 | 870 |
Top 100 Logistics Companies provide logistics services, including freight brokerage, freight forwarding, warehousing and dedicated contract carriage in North America and are ranked on the basis of annual gross revenue. Some sector rankings may have been updated since their print publication. To be included in the Top 100 list, please send contact information to tteditor@ttnews.com. We will contact you via phone or e-mail to get information about your company prior to publication of the next Top 100 list.
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Many logistics firms saw soft demand as market contraction negatively affected businesses in 2023
Learn more about how companies are selected for Transport Topics' Top 100 largest logistics companies list
Covenant Q1 Profit Slumps 76% on Freight Rate Weakness
Amazon Web Services to Build Data Center in Northern Indiana
NEW CARLISLE, Ind. — Amazon Web Services plans to invest $11 billion to build a data center in northern Indiana that will create at least 1,000 new jobs, state and company officials announced.
April 25, 2024Union Pacific’s First-Quarter Profit Creeps Up 1%
OMAHA, Neb. — Union Pacific’s first-quarter profit crept 1% higher as the railroad tightened up on expenses — particularly its fuel bill — even though it delivered slightly less freight.
Tonnage Numbers Hit 13th Month of Declines
Truck tonnage reached 13 consecutive months of year-over-year declines after a slight decrease in March, American Trucking Associations reported April 23.
DOT Grant Program Focuses on Commercial Ports
The U.S. Department of Transportation announced grants for ports and supply chain corridors as part of the White House’s strategy for advancing a zero-emission freight landscape.
Forward Air Hires Ex-Ceva Logistics Executive Stewart as CEO
Shawn Stewart is set to join Forward Air as CEO, effective April 28, the carrier said April 23. He also will join the asset-light transportation services group’s board of directors.
Norfolk Southern Reports Lower Earnings After Settlement
Norfolk Southern’s first-quarter earnings report gave the railroad the opportunity to publicly defend CEO Alan Shaw’s strategy again before investors decide on May 9 whether to back him.
Truck Body Repair Collaborations Help Streamline Planning
Repairing the body on a Class 8 truck is a process of handling moving parts while performing a proper assessment and eventually restoring the unit to a safe, roadworthy state as quickly as possible.
Baltimore Port to Open Deeper Channel
Officials plan to open a deeper channel for commercial ships to access the Port of Baltimore starting April 25, marking a significant step toward reopening the major maritime shipping hub.
UPS Reports 41% Earnings Drop During Q1
UPS Inc. experienced a 41.3% drop in earnings during the first quarter of 2024, the company reported April 23.