Plus, a trucking company owner and crew convicted in meth smuggling ring, Walmart and other retailers hold "productive" talks with President, what it means when consumers "buy now, pay later" on groceries, and more.
Plus: LAPD busts a $3.9M cargo theft ring, Nuvocargo and UPS expand in North America, U.S. moves to ease rules for self-driving trucks, Funny Freight Friday, and more.
Funny Freight Friday: Same thing.
Plus, a trucking company owner and crew convicted in meth smuggling ring, Walmart and other retailers hold "productive" talks with President, what it means when consumers "buy now, pay later" on groceries, and more.
Good Monday morning. We're breaking down Logistics Management's recent rankings of the top truckload and less-than-truckload carriers of 2025. Here's who's growing, who's grinding, and who's making bold moves to stay ahead.
Plus:
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🐔 WHAT’S COOKIN’ IN FREIGHT
💵 Struggling Consumers Turn to Buy Now, Pay Later for Groceries. More Americans are using buy now, pay later (BNPL) loans to fund groceries, with 25% of users doing so, up from 14% in 2024, according to LendingTree. Late payments are also on the rise, with 41% reporting delays, highlighting the growing financial strain from inflation, high interest rates, and economic uncertainty. LendingTree's Matt Schulz notes that while BNPL offers short-term relief, it carries significant risks if mismanaged. Schulz didn’t say these results are an indicator of a recession, but he did caution that conditions are expected to decline further before they get better. On the contrary, Craig Fuller posted on X, citing Apollo’s prediction of a recession (and "stagflation") hitting the U.S. as early as June 2025, showing that everything remains on track for a downturn.
🛒 NRF’s Top American Retailers Navigate Growth and Trade Challenges. Walmart, Amazon, Costco, Target, and Home Depot secured top spots on the NRF's Top 50 Global Retailers List for 2025, demonstrating strong domestic and international performance despite economic turbulence. Walmart led the NRF-Kantar rankings, with Amazon and Costco also placing in the top five. Meanwhile, executives from Walmart, Target, and Home Depot met with President Trump to discuss rising tariffs, emphasizing their commitment to keeping prices low for consumers amid new import duties. “We had a productive meeting with President Trump and our retail peers to discuss the path forward on trade, and we remain committed to delivering value for American consumers,” said Target spokesperson Jim Joice via email.
🚓 Trucking Company Owner, Others Convicted in Meth Trafficking Scheme. Five individuals were convicted on April 18, 2025, for operating a drug trafficking organization that smuggled liquid meth from Mexico to Oklahoma using semi-truck fuel tanks. Trucking company owner Denis Leal Gutierrez and associates Cesar Azamar and Adrian Narvaez face life sentences, while Juan Hernandez and Jessica Muniz face up to 20 years each for money laundering. Their network trafficked around 16,000 kilos of meth valued at $64 million. Major seizures across Oklahoma were linked to the operation. Authorities praised the multi-agency effort that dismantled the international drug pipeline and protected communities from deadly narcotics. “Together, we will continue to ensure those who participate in these dangerous criminal networks face the full weight of the American justice system,” said FBI Oklahoma City Special Agent in Charge Doug Goodwater.
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Every year, Logistics Management teams up with SJ Consulting to compile the definitive Top 50 Trucking Companies list. Rankings are based on 2024 annual revenue (including fuel surcharges), blending both truckload (TL) and less-than-truckload (LTL) players. This list reflects who’s adapting, investing, and staying profitable in a slow-moving freight market.
Let’s break down the Top 5 TL and Top 5 LTL carriers for 2025, and what’s keeping them ahead.
Still the truckload king, but not without a few bruises, J.B. Hunt’s TL division saw a 5.4% revenue drop year-over-year. Still, the company’s integrated logistics model (Intermodal + Dedicated + Brokerage) continues to anchor it as a supply chain powerhouse into 2025.
Not just a TL giant anymore. Knight-Swift has been aggressively snapping up LTL terminals post-Yellow collapse, eyeing full 48-state LTL coverage by the end of the year. They’re playing the long game to diversify beyond just truckload, and it's working.
“We’re excited to take the next step toward building a nationwide LTL business, and especially to grow our network to include the key Southwest markets of California, Arizona, and Nevada,” Knight-Swift CEO Adam Miller
Schneider’s betting big on dedicated fleets—recently acquiring Cowan Systems to deepen its East Coast footprint. Even with a slight 3.3% revenue dip, Schneider’s focused on stable, repeatable business models that shield it from truckload market swings.
The outlier. Ryder’s truckload division surged 37% last year, fueled by expansion in its dedicated and logistics services. While not a traditional "for-hire" TL operator, Ryder’s asset-light, contract-heavy approach is paying off big time.
The refrigerated freight giant is feeling the cool-down: revenue dropped 9.5% amid softer demand and rate pressure. Still, Prime’s long-haul reefer dominance keeps it a major player, especially as food and pharma supply chains stay hot.
Rounding out TL spots 6–10: Penske Logistics, Werner Enterprises, Landstar System, U.S. Xpress Enterprises, and CRST International.
Flat year-over-year revenue, but still the clear LTL revenue leader. FedEx Freight is laser-focused on pricing discipline and network optimization in 2025—even as overall volumes remain soft.
Wall Street's darling for a reason. ODFL’s lean operating model and relentless service focus keep it growing even in a sluggish economy. Executives cite “people and culture” as the magic formula.
Biggest gainer among the top 5: Estes posted a 12.4% revenue jump. Fresh off acquiring ex-Yellow terminals, Estes is moving fast to fill capacity gaps and expand nationally.
XPO’s LTL-only pivot continues to pay off. They notched nearly 5% revenue growth and have ambitious plans to keep building density across key U.S. lanes in 2025, especially in the Southeast.
Privately held and quietly powerful, R+L posted a 9.4% gain last year. Their no-frills, service-first approach continues to win loyalty in a market where consistency matters more than ever.
Rounding out LTL spots 6–10: Saia Motor Freight, ABF Freight, TransForce (U.S. ops), Southeastern Freight Lines, and Central Transport International.
The Bottom Line: In a slow-demand, rate-choppy environment, the best trucking companies are evolving in order to survive. Whether it's snapping up dedicated contracts, expanding LTL footprints, or leaning into tech and service, this year will reward carriers that think ahead and move fast.
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🌎 AROUND THE FREIGHT WEB
🕊️ Remembering Brittany Traylor. Transportation advocate and Founder & CEO of TraylorTranspo, Brittany Traylor, sadly passed away in a truck accident. Her family set up a GoFundMe to help offset end-of-life costs and to support her spouse, who was also injured in the crash.
🐖 China Cancels Pork. China canceled its largest U.S. pork order of the year, the biggest since May 2020 (early in the COVID-19 pandemic). Analysts believe this move is intended to hurt the U.S. agriculture sector in response to tariffs.
⚖ Motive Wins. A jury found Motive not guilty of patent infringement against Omnitracs, clearing the company of accusations tied to its fleet management and telematics technology. Motive is still fighting a separate patent infringement case against Samara, with the latter acting as the plaintiff.
😡 Harmed by Import. The U.S. International Trade Commission ruled that surging imports have significantly harmed domestic intermodal chassis manufacturers. The commission is recommending the U.S. government impose antidumping duties on Mexico, Thailand, and Vietnam.
💊 Roche’s Investment. Swiss pharma giant Roche announced a $50 billion investment into U.S. operations, aiming to buffer against rising tariff concerns. The investment will create more than 12,000 jobs and nearly 6,500 construction roles.
🤔 Lifting the Ban? California officials are considering revoking the ban on autonomous semi-truck testing. Lifting the ban would allow companies to test self-driving vehicles weighing over 10,001 pounds on California roads.
🎰 Trucker Wins Jackpot. An Indiana truck driver plans to retire early after scoring a $42.5 million lottery win. With his newfound free time, he plans to watch more Indiana University and Tell City High School basketball games and ride his motorcycle.
🎣 THE FREIGHT CAVIAR CORNER
FREIGHT HUMOR
Plus: LAPD busts a $3.9M cargo theft ring, Nuvocargo and UPS expand in North America, U.S. moves to ease rules for self-driving trucks, Funny Freight Friday, and more.
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