v3.26.1
Segment Reporting
 6 Months Ended
Jul. 04, 2026
Segment Reporting [Abstract]  
Segment Reporting
(15)
Segment Reporting

We report our financial results in three reportable segments: contract logistics, intermodal and trucking. These segments are based primarily on the services provided by each segment and reflect the manner in which management evaluates the Company’s operations, including the economic characteristics and applicable aggregation criteria of the underlying businesses.

Our contract logistics segment includes value-added and dedicated transportation services that support inbound logistics to industrial customers and major retailers, generally pursuant to contracts with terms of one year or longer. Our intermodal segment is associated with local and regional drayage moves coordinated by company-managed terminals using a mix of owner-operators, company equipment and third-party capacity providers. Our trucking segment is associated with individual freight shipments coordinated by our agents and company-managed terminals using a mix of owner-operators, company equipment and third-party capacity providers. Other non-reportable segments include subsidiaries that provide administrative and support services to other Company subsidiaries.

The Company’s President and Chief Executive Officer serves as the chief operating decision maker (“CODM”). The CODM evaluates segment performance primarily based on income from operations and reviews segment results against internal budgets, forecasts and prior period performance. The CODM also regularly reviews significant segment expense categories, including purchased transportation and equipment rent, direct personnel and related benefits, operating supplies and expenses, commission expense, occupancy expense, depreciation and amortization, and other segment items. Separate balance sheet information is not regularly provided to the CODM.

The following tables summarize financial information about our reportable segments for the thirteen week and twenty-six week periods ended July 4, 2026 and June 28, 2025 (in thousands):

 

 

 

Thirteen Weeks Ended July 4, 2026

 

 

 

Contract Logistics

 

 

Intermodal

 

 

Trucking

 

 

Other (2)

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues (1)

 

$

271,424

 

 

$

44,077

 

 

$

63,822

 

 

$

—

 

 

$

379,323

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchased transportation and equipment rent

 

 

1,044

 

 

 

14,825

 

 

 

47,922

 

 

 

3,223

 

 

 

67,014

 

Direct personnel and related benefits

 

 

148,677

 

 

 

14,185

 

 

 

1,936

 

 

 

—

 

 

 

164,798

 

Operating supplies and expenses

 

 

44,836

 

 

 

10,873

 

 

 

1,996

 

 

 

(1,418

)

 

 

56,287

 

Commission expense

 

 

—

 

 

 

896

 

 

 

3,572

 

 

 

—

 

 

 

4,468

 

Occupancy expense

 

 

11,289

 

 

 

4,114

 

 

 

91

 

 

 

770

 

 

 

16,264

 

Depreciation and amortization

 

 

21,132

 

 

 

4,472

 

 

 

2,965

 

 

 

4,615

 

 

 

33,184

 

Other segment expenses (3)

 

 

19,847

 

 

 

5,162

 

 

 

2,485

 

 

 

(35,323

)

 

 

(7,829

)

Total operating expenses

 

 

246,825

 

 

 

54,527

 

 

 

60,967

 

 

 

(28,133

)

 

 

334,186

 

Income from operations

 

$

24,599

 

 

$

(10,450

)

 

$

2,855

 

 

$

28,133

 

 

$

45,137

 

(1) Total operating revenues are presented net of intersegment revenues eliminated in consolidation. Intersegment revenues eliminated in consolidation were $0.1 million in contract logistics, $0.2 million in intermodal and $0.0 million in trucking.

(2) Credits within other non-reportable include allocations and eliminations to the other reportable segments.

(3) Other segment items primarily include general and administrative expense, insurance and claims expense, gains on disposals of property and equipment, impairment expense and other corporate allocations.

 

(15)
Segment Reporting – continued

 

 

 

Thirteen Weeks Ended June 28, 2025

 

 

 

Contract Logistics

 

 

Intermodal

 

 

Trucking

 

 

Other (2)

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues (1)

 

$

260,556

 

 

$

68,914

 

 

$

64,069

 

 

$

255

 

 

$

393,794

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchased transportation and equipment rent

 

 

2,183

 

 

 

29,443

 

 

 

47,208

 

 

 

2,674

 

 

 

81,508

 

Direct personnel and related benefits

 

 

150,888

 

 

 

15,171

 

 

 

1,973

 

 

 

—

 

 

 

168,032

 

Operating supplies and expenses

 

 

40,650

 

 

 

10,023

 

 

 

2,933

 

 

 

(3,248

)

 

 

50,358

 

Commission expense

 

 

4

 

 

 

587

 

 

 

3,804

 

 

 

—

 

 

 

4,395

 

Occupancy expense

 

 

7,032

 

 

 

5,209

 

 

 

67

 

 

 

(505

)

 

 

11,803

 

Depreciation and amortization

 

 

21,835

 

 

 

7,816

 

 

 

2,189

 

 

 

4,363

 

 

 

36,203

 

Other segment expenses (3)

 

 

16,194

 

 

 

6,341

 

 

 

2,555

 

 

 

(3,488

)

 

 

21,602

 

Total operating expenses

 

 

238,786

 

 

 

74,590

 

 

 

60,729

 

 

 

(204

)

 

 

373,901

 

Income from operations

 

$

21,770

 

 

$

(5,676

)

 

$

3,340

 

 

$

459

 

 

$

19,893

 

(1) Total operating revenues are presented net of intersegment revenues eliminated in consolidation. Intersegment revenues eliminated in consolidation were $0.1 million in contract logistics, $1.1 million in intermodal and $0.0 million in trucking.

(2) Credits within other non-reportable include allocations and eliminations to the other reportable segments.

(3) Other segment items primarily include general and administrative expense, insurance and claims expense, gains on disposals of property and equipment, and other corporate allocations.

 

 

 

Twenty-six Weeks Ended July 4, 2026

 

 

 

Contract Logistics

 

 

Intermodal

 

 

Trucking

 

 

Other (2)

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues (1)

 

$

540,957

 

 

$

91,931

 

 

$

114,010

 

 

$

—

 

 

$

746,898

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchased transportation and equipment rent

 

 

1,965

 

 

 

32,455

 

 

 

85,822

 

 

 

7,450

 

 

 

127,692

 

Direct personnel and related benefits

 

 

307,641

 

 

 

29,606

 

 

 

3,755

 

 

 

—

 

 

 

341,002

 

Operating supplies and expenses

 

 

83,980

 

 

 

20,360

 

 

 

3,541

 

 

 

(3,267

)

 

 

104,614

 

Commission expense

 

 

—

 

 

 

1,566

 

 

 

7,087

 

 

 

—

 

 

 

8,653

 

Occupancy expense

 

 

22,565

 

 

 

9,970

 

 

 

150

 

 

 

(862

)

 

 

31,823

 

Depreciation and amortization

 

 

43,456

 

 

 

9,500

 

 

 

5,846

 

 

 

10,025

 

 

 

68,827

 

Other segment expenses (3)

 

 

39,279

 

 

 

12,040

 

 

 

4,388

 

 

 

(41,334

)

 

 

14,373

 

Total operating expenses

 

 

498,886

 

 

 

115,497

 

 

 

110,589

 

 

 

(27,988

)

 

 

696,984

 

Income from operations

 

$

42,071

 

 

$

(23,566

)

 

$

3,421

 

 

$

27,988

 

 

$

49,914

 

(1) Total operating revenues are presented net of intersegment revenues eliminated in consolidation. Intersegment revenues eliminated in consolidation were $0.5 million in contract logistics, $1.1 million in intermodal and $0.1 million in trucking.

(2) Credits within other non-reportable include allocations and eliminations to the other reportable segments.

(3) Other segment items primarily include general and administrative expense, insurance and claims expense, gains on disposals of property and equipment, impairment expense and other corporate allocations.

(15)
Segment Reporting – continued

 

 

 

Twenty-six Weeks Ended June 28, 2025

 

 

 

Contract Logistics

 

 

Intermodal

 

 

Trucking

 

 

Other (2)

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total operating revenues (1)

 

$

516,448

 

 

$

139,610

 

 

$

119,652

 

 

$

473

 

 

$

776,183

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchased transportation and equipment rent

 

 

5,583

 

 

 

62,439

 

 

 

88,252

 

 

 

4,977

 

 

 

161,251

 

Direct personnel and related benefits

 

 

295,910

 

 

 

33,123

 

 

 

3,500

 

 

 

—

 

 

 

332,533

 

Operating supplies and expenses

 

 

81,899

 

 

 

20,059

 

 

 

5,394

 

 

 

(5,683

)

 

 

101,669

 

Commission expense

 

 

20

 

 

 

1,170

 

 

 

7,461

 

 

 

—

 

 

 

8,651

 

Occupancy expense

 

 

14,151

 

 

 

9,971

 

 

 

104

 

 

 

(1,170

)

 

 

23,056

 

Depreciation and amortization

 

 

42,558

 

 

 

15,040

 

 

 

4,395

 

 

 

9,698

 

 

 

71,691

 

Other segment expenses (3)

 

 

30,698

 

 

 

14,193

 

 

 

5,016

 

 

 

(8,148

)

 

 

41,759

 

Total operating expenses

 

 

470,819

 

 

 

155,995

 

 

 

114,122

 

 

 

(326

)

 

 

740,610

 

Income from operations

 

$

45,629

 

 

$

(16,385

)

 

$

5,530

 

 

$

799

 

 

$

35,573

 

(1) Total operating revenues are presented net of intersegment revenues eliminated in consolidation. Intersegment revenues eliminated in consolidation were $0.2 million in contract logistics, $2.2 million in intermodal and $0.0 million in trucking.

(2) Credits within other non-reportable include allocations and eliminations to the other reportable segments.

(3) Other segment items primarily include general and administrative expense, insurance and claims expense, gains on disposals of property and equipment, and other corporate allocations.