v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 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.
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.
Disaggregated external revenues and results from operations by segment are as follows:
Three Months Ended June 30, 2026Expedited FreightOmni LogisticsIntermodalCorporate and EliminationsTotal
External revenues:
Ground$275,861 $132,854 $— $— $408,715 
Contract Logistics— 112,332 — — 112,332 
Air and Ocean— 93,361 — — 93,361 
Intermodal — — 58,628 — 58,628 
Total external revenues275,861 338,547 58,628 — 673,036 
Intersegment revenues43,201 — 1,096 (44,297)— 
Total consolidated revenues319,062 338,547 59,724 (44,297)673,036 
Less:
Purchased transportation167,936 190,166 22,087 (44,297)335,892
Salaries, wages and employee benefits57,568 62,226 13,783 (3,537)130,040
Operating leases16,416 27,466 6,100 270 50,252
Depreciation and amortization8,495 23,878 3,882 2,007 38,262
Insurance and claims10,018 276 1,799 1,585 13,678
Fuel expense3,668 457 2,541 (22)6,644
Other operating expenses20,068 20,082 3,431 11,993 55,574
Impairment of goodwill— 244,006 — — 244,006 
Segment profit (loss)$34,893 $(230,010)$6,101 $(12,296)$(201,312)
Interest expense, net(43,721)
Foreign exchange (loss) gain(566)
Other income (expense), net1,569 
Loss from continuing operations before income taxes$(244,030)
Three Months Ended June 30, 2025Expedited FreightOmni LogisticsIntermodalCorporate and EliminationsTotal
External revenues:
Ground$231,823 $155,430 $— $(142)$387,111 
Contract Logistics— 97,469 — — 97,469 
Air and Ocean— 75,417 — — 75,417 
Intermodal— — 58,847 — 58,847 
Total external revenues
231,823 328,316 58,847 (142)618,844 
Intersegment revenues25,873 — 299 (26,172)— 
Total consolidated revenues257,696 328,316 59,146 (26,314)618,844 
Less:
Purchased transportation124,448 185,040 20,049 (26,237)303,300 
Salaries, wages and employee benefits53,938 61,584 15,385 14,583 145,490 
Operating leases17,355 25,686 5,336 1,128 49,505 
Depreciation and amortization10,357 22,419 4,502 (472)36,806 
Insurance and claims10,693 1,248 3,147 448 15,536 
Fuel expense2,518 888 1,857 15 5,278 
Other operating expenses18,892 24,265 4,455 (4,205)43,407 
Segment profit (loss)$19,495 $7,186 $4,415 $(11,574)$19,522 
Interest expense, net(45,326)
Foreign exchange (loss) gain(4,653)
Other income (expense), net(6,656)
Loss from continuing operations before income taxes$(37,113)
Six Months Ended June 30, 2026Expedited FreightOmni LogisticsIntermodalCorporate and EliminationsTotal
External revenues:
Ground$503,034 $268,841 $— $— $771,875 
Contract Logistics— 216,498 — — 216,498 
Air and Ocean— 155,626 — — 155,626 
Intermodal— — 111,083 — 111,083 
Total external revenues
503,034 640,965 111,083 — 1,255,082 
Intersegment revenues88,735 — 1,733 (90,468)— 
Total consolidated revenues591,769 640,965 112,816 (90,468)1,255,082 
Less:
Purchased transportation309,619 359,089 41,429 (90,468)619,669 
Salaries, wages and employee benefits113,218 115,622 27,446 (10,670)245,616 
Operating leases31,944 55,168 11,881 972 99,965 
Depreciation and amortization16,807 48,369 8,035 3,572 76,783 
Insurance and claims20,178 744 4,570 1,684 27,176 
Fuel expense5,721 961 4,911 (22)11,571 
Other operating expenses39,343 46,286 7,219 18,319 111,167 
Impairment of goodwill— 244,006 — — 244,006 
Segment profit (loss)$54,939 $(229,280)$7,325 $(13,855)$(180,871)
Interest expense, net(87,308)
Foreign exchange (loss) gain1,132 
Other income (expense), net(15,388)
Loss from continuing operations before income taxes$(282,435)
Six Months Ended June 30, 2025Expedited FreightOmni LogisticsIntermodalCorporate and EliminationsTotal
External revenues:
Ground$459,019 $327,524 $— $— $786,543 
Contract Logistics— 177,597 — — 177,597 
Air and Ocean— 146,665 — — 146,665 
Intermodal— — 121,320 — 121,320 
Total external revenues
459,019 651,786 121,320 — 1,232,125 
Intersegment revenues48,058 — 318 (48,376)— 
Total consolidated revenues507,077 651,786 121,638 (48,376)1,232,125 
Less:
Purchased transportation245,128 370,774 40,225 (48,565)607,562
Salaries, wages and employee benefits106,515 118,367 31,316 31,207 287,405
Operating leases32,788 52,776 11,114 1,620 98,298
Depreciation and amortization20,736 44,649 9,222 (441)74,166
Insurance and claims21,001 3,863 5,938 (260)30,542
Fuel expense4,989 1,905 4,012 21 10,927
Other operating expenses40,791 48,891 9,854 (596)98,940
Segment profit (loss)$35,129 $10,561 $9,957 $(31,362)$24,285 
Interest expense, net(90,873)
Foreign exchange (loss) gain(5,575)
Other income (expense), net(6,552)
Loss from continuing operations before income taxes$(78,715)
Operating revenues from the individual services within the Expedited Freight segment are further sub-disaggregated in the table below:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Expedited Freight revenues:
Network (1)
$225,971 $193,829 $414,148 $383,991 
Truckload69,237 42,636 131,781 81,891 
Other23,854 21,231 45,840 41,195 
Total Expedited Freight revenues$319,062 $257,696 $591,769 $507,077 
(1)Network revenue is comprised of all revenue, including linehaul, pickup and/or delivery, and fuel surcharge revenue, excluding accessorial and Truckload revenue.