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The day’s most important moves across every mode — air, rail, road, ocean and the trade that ties them together.
| ● On the Wire |
Wednesday, November 4 |
4 stories |
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Logistics
BY JOHN KINGSTON · AMERICAN SHIPPER · NOVEMBER 3, 2026
Expeditors’ third-quarter revenue jumped 42% to $4.1 billion and operating income rose 55% to $445.4 million, with airfreight volume up 13% on hyperscaler demand.
| THE TAKE — The beat was driven by demand, not cost cutting: diluted EPS of $2.65 topped consensus by 42 cents, while transportation costs rose 49%, so margins held up on volume. Airfreight growth accelerated through the quarter, from 8% in July to 19% in September, and the CEO said air capacity remains constrained by limited fleet expansion. Ocean volumes rose 12% despite three Asian typhoons. Even so, the stock was flat to slightly down after a 63% run over the past year. |
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Supply Chain
Amazon’s shipping costs rose 11% in the third quarter, while Tractor Supply and Carter’s pointed to higher transportation costs and port congestion heading into the holidays.
| THE TAKE — Amazon’s unit growth of 12% outpaced its cost increase, helped by better inventory placement and package consolidation, which is the scale advantage smaller retailers lack. Tractor Supply’s gross margin slipped to 36.4% from 37.4% on transportation and fuel costs, and Carter’s inventory sat below plan on container availability issues. Late merchandise can miss its selling window and force discounts. |
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Ocean
A BCG and TIC4.0 survey of 103 industry experts finds only 4% of port and terminal organizations report measurable earnings gains from AI.
| THE TAKE — The gap between activity and results is wide: 44% say they’ve reached the scaling stage, but just 11% systematically track AI’s contribution to efficiency or margins. Gains so far are operational, with 74% citing efficiency, and unclear ROI is the top barrier at 41%, cited far more often by non-C-suite respondents than senior leaders. Document data extraction and equipment-failure prediction are the most common use cases. |
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Air Cargo
Latam Cargo flew two roughly three-ton armored popemobiles from São Paulo to Lima on a Boeing 767-300 freighter ahead of Pope Leo XIV’s Peru visit.
| THE TAKE — It’s a niche job, but it shows what specialty air cargo involves: six to eight hours of ramp preparation, about 20 people at each end, weight-distribution calculations and extra security protocols. For Latam Cargo, whose freighter division runs 19 converted 767-300s, it’s a showcase of high-value special handling alongside its regular freight. |
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American Shipper · The Daily — published weekdays
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