Quarterly report [Sections 13 or 15(d)]

Segment Reporting (Tables)

v3.25.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
Segment results from operations for the three and nine months ended September 30, 2025 and 2024 are as follows:

For the Three Months Ended
September 30, 2025		 Expedited Freight Omni Logistics Intermodal Corporate Consolidated
External revenues $ 234,383  $ 339,584  $ 57,796  $ —  $ 631,763 
Intersegment revenues 24,171  —  536  —  24,707 
258,554  339,584  58,332  —  656,470 
Reconciliation of revenue
Elimination of intersegmental revenues (24,707)
Total consolidated revenues $ 631,763 
Less:
Purchase transportation 125,265  196,312  19,331  189 
Salaries, wages and employee benefits 54,403  58,373  14,198  4,935 
Operating leases 15,797  29,979  6,288  86 
Depreciation and amortization 10,160  22,832  4,382  374 
Insurance and claims 10,415  (59) 2,900  (537)
Fuel expense 2,155  874  1,999  1 
Other operating expenses 20,914  21,524  5,132  13,241 
Segment profit (loss) 19,445  9,749  4,102  (18,289) 15,007 
Reconciliation of segment profit or loss
Interest expense, net (44,775)
Foreign exchange loss (gain) (539)
Other (expense) income, net 6,935 
Loss before income taxes $ (23,372)
For the Three Months Ended
September 30, 2024		 Expedited Freight Omni Logistics Intermodal Corporate Consolidated
External revenues $ 264,129  $ 334,538  $ 57,270  $ —  $ 655,937 
Intersegment revenues 20,578  —  142  —  20,720 
284,707  334,538  57,412  —  676,657 
Reconciliation of revenue
Elimination of intersegmental revenues (20,720)
Total consolidated revenues $ 655,937 
Less:
Purchase transportation 140,035  194,853  18,300  2 
Salaries, wages and employee benefits 59,426  55,151  14,506  4,432 
Operating leases 15,556  27,586  5,668  — 
Depreciation and amortization 10,481  10,830  4,582  — 
Insurance and claims 11,672  3,488  2,528  (306)
Fuel expense 2,113  800  1,942  — 
Other operating expenses 26,155  25,943  5,795  (2,329)
Impairment of goodwill —  14,751  —  — 
Segment profit (loss) 19,269  1,136  4,091  (1,799) 22,697 
Reconciliation of segment profit or loss
Interest expense, net (52,770)
Foreign exchange loss (gain) (2,812)
Other (expense) income, net (11)
Loss before income taxes $ (32,896)

Revenue from the individual services within the Expedited Freight segment for the three and nine months ended September 30, 2025 and 2024 are as follows:

Three Months Ended Nine Months Ended
  September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024
Expedited Freight revenues:    
Network $ 194,035  $ 217,289  $ 578,026  $ 655,116 
Truckload 42,401  43,635  124,292  125,368 
Other 22,118  23,783  63,313  68,800 
Total $ 258,554  $ 284,707  $ 765,631  $ 849,284 
For the Nine Months Ended
September 30, 2025		 Expedited Freight Omni Logistics Intermodal Corporate Consolidated
External revenues $ 693,402  $ 991,370  $ 179,116  $ —  $ 1,863,888 
Intersegment revenues 72,229  —  854  —  73,083 
765,631  991,370  179,970  —  1,936,971 
Reconciliation of revenue
Elimination of intersegmental revenues (73,083)
Total consolidated revenues $ 1,863,888 
Less:
Purchase transportation 370,393  567,086  59,556 
Salaries, wages and employee benefits 160,918  176,740  45,514  36,142 
Operating leases 48,585  82,755  17,402  1,706 
Depreciation and amortization 30,896  67,481  13,604  (67)
Insurance and claims 31,416  3,804  8,838  (797)
Fuel expense 7,144  2,779  6,011  22 
Other operating expenses 61,705  70,415  14,986  12,645 
Segment profit (loss) 54,574  20,310  14,059  (49,651) 39,292 
Reconciliation of segment profit or loss
Interest expense, net (135,648)
Foreign exchange loss (gain) (6,114)
Other (expense) income, net 383 
Loss before income taxes $ (102,087)
For the Nine Months Ended
September 30, 2024		 Expedited Freight Omni Logistics Intermodal Corporate Consolidated
External revenues $ 797,483  $ 871,232  $ 172,701  $ —  $ 1,841,416 
Intersegment revenues 51,801  —  302  —  52,103 
849,284  871,232  173,003  —  1,893,519 
Reconciliation of revenue
Elimination of intersegmental revenues (52,103)
Total consolidated revenues $ 1,841,416 
Less:
Purchase transportation 410,307  517,951  54,916  1 
Salaries, wages and employee benefits 185,824  161,462  44,487  14,609 
Operating leases 45,268  73,464  15,136  3 
Depreciation and amortization 31,463  60,937  13,921  — 
Insurance and claims 33,293  8,386  7,753  (4,471)
Fuel expense 7,128  2,286  6,546  — 
Other operating expenses 75,288  72,604  17,250  69,033 
Impairment of goodwill —  1,107,465  —  — 
Segment profit (loss) 60,713  (1,133,323) 12,994  (79,175) (1,138,791)
Reconciliation of segment profit or loss
Interest expense, net (140,788)
Foreign exchange loss (gain) (1,912)
Other (expense) income, net 38 
Loss before income taxes $ (1,281,453)

Omni Logistics revenues and segment loss in the above table represents the period from January 25, 2024 (the date of
acquisition) through September 30, 2024.

Total assets by segment are as follows:

Total Assets Expedited Freight Omni Logistics Intermodal Corporate
Consolidated
As of September 30, 2025 $ 705,267  $ 1,707,867  $ 252,744  $ 128,320  $ 2,794,198 
As of December 31, 2024 691,369  1,726,088  257,323  127,861  2,802,641