v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our chief operating decision-maker, who is our Chief Executive Officer, analyzes the results of our business through the following reportable segments: Expedited Freight, Omni Logistics, and Intermodal. Our chief operating decision-maker regularly reviews the operating results and performance of our segments through segment profit to manage operations and make decisions regarding resource allocations. These financial metrics are used to view operating trends, perform analytical comparisons and benchmark performance between periods and to monitor budget-to-actual variances on a monthly basis. Our chief operating decision-maker does not utilize information on segment assets.

The accounting policies applied to each segment are the same as those described in the Operations and Summary of Significant Accounting Policies as disclosed in Note 1 to the Annual Report on Form 10-K for the year ended December 31, 2025, except for certain self-insurance loss reserves related to vehicle liability and workers’ compensation. Each segment is allocated an insurance premium and deductible that corresponds to the self-insured retention limit for that particular segment. Any self-insurance loss exposure beyond the deductible allocated to each segment is recorded in Corporate.

Segment results from operations for the three months ended March 31, 2026 and 2025 are as follows:

For the Three Months Ended
March 31, 2026		Expedited FreightOmni LogisticsIntermodalCorporateConsolidated
External revenues$227,173 $302,418 $52,455 $— $582,046 
Intersegment revenues45,534 — 637 — 46,171 
272,707 302,418 53,092 — 628,217 
Reconciliation of revenue
Elimination of intersegmental revenues(46,171)
Total consolidated revenues$582,046 
Less:
Purchased transportation141,683 168,923 19,342 — 
Salaries, wages and employee benefits55,650 53,396 13,663 (7,133)
Operating leases15,528 27,702 5,781 702 
Depreciation and amortization8,312 24,491 4,153 1,565 
Insurance and claims10,160 468 2,771 99 
Fuel expense2,053 504 2,370 — 
Other operating expenses19,275 26,204 3,788 6,326 
Segment profit (loss)20,046 730 1,224 (1,559)20,441 
Reconciliation of segment profit or loss
Interest expense, net(43,587)
Foreign exchange gain (loss)1,698 
Other (expense) income, net(16,957)
Loss before income taxes$(38,405)
For the Three Months Ended
March 31, 2025		Expedited FreightOmni LogisticsIntermodalCorporateConsolidated
External revenues$227,196 $323,470 $62,473 $142 $613,281 
Intersegment revenues22,185 — 19 — 22,204 
249,381 323,470 62,492 142 635,485 
Reconciliation of revenue
Elimination of intersegmental revenues(22,204)
Total consolidated revenues$613,281 
Less:
Purchased transportation120,680 185,734 20,176 (124)
Salaries, wages and employee benefits52,577 56,783 15,931 16,624 
Operating leases15,433 27,090 5,778 491 
Depreciation and amortization10,379 22,230 4,720 31 
Insurance and claims10,308 2,615 2,791 (707)
Fuel expense2,471 1,017 2,155 6 
Other operating expenses21,899 24,626 5,399 3,609 
Segment profit (loss)15,634 3,375 5,542 (19,788)4,763 
Reconciliation of segment profit or loss
Interest expense, net(45,547)
Foreign exchange gain (loss)(922)
Other (expense) income, net104 
Loss before income taxes$(41,602)

Disaggregated external revenues by segment for the three months ended March 31, 2026 and 2025 are as follows:

For the Three Months Ended
March 31, 2026		Expedited FreightOmni LogisticsIntermodalConsolidated
Ground$227,173 $135,987 $— $363,160 
Contract Logistics— 104,166 — 104,166 
Air and Ocean— 62,265 — 62,265 
Intermodal — — 52,455 52,455 
Total operating revenues$227,173 $302,418 $52,455 $582,046 
For the Three Months Ended
March 31, 2025		Expedited FreightOmni LogisticsIntermodalCorporateConsolidated
Ground$227,196 $172,094 $— $142 $399,432 
Contract Logistics— 80,128 — — 80,128 
Air and Ocean— 71,248 — — 71,248 
Intermodal— — 62,473 — 62,473 
Total operating revenues$227,196 $323,470 $62,473 $142 $613,281 
Operating revenues from the individual services within the Expedited Freight segment are further sub-disaggregated for the three months ended March 31, 2026 and 2025 in the table below:
Three Months Ended
March 31, 2026March 31, 2025
Operating revenues:
Network1
$188,177 $190,162 
Truckload62,544 39,255 
Other21,986 19,964 
Total operating revenues$272,707 $249,381 
1 Network revenue is comprised of all revenue, including linehaul, pickup and/or delivery, and fuel surcharge revenue, excluding accessorial and Truckload revenue.
Within the Omni Logistics segment, Ground operating revenues include domestic freight forwarding and time-definite transportation services; Air and Ocean operating revenues include air and ocean freight consolidation and customs brokerage; and Contract Logistics operating revenues include warehousing and value-added services, and other supply chain solutions.