Each year, the Top 50 Trucking Companies list provides a snapshot of the industry’s leaders in both truckload (TL) and less-than-truckload (LTL) transportation. The 2025 edition, compiled by S.J. Consulting Group and published by Logistics Management, highlights the country’s largest and most resilient carriers as they navigate a slow-demand environment.
Top 25 LTL Carriers
Annual revenue, including fuel surchargesÂ
| 2024 Rank |
Carrier name |
2024 Revenue incl. FSC ($ million) |
2023 Revenue incl. FSC ($ million) |
YoY % Change 2023-2024** |
| 1 | FedEx Freight | $9,098 | $9,106 | -0.10% |
| 2 | Old Dominion Freight Line | $5,761 | $5,805 | -0.80% |
| 3 | Estes Express Lines | $4,981 | $4,432 | 12.40% |
| 4 | XPO Logistics | $4,899 | $4,671 | 4.90% |
| 5 | R+LCarriers * | $3,820 | $3,493 | 9.40% |
| 6 | Saia Motor Freight Line | $3,209 | $2,881 | 11.40% |
| 7 | ABF Freight System | $2,690 | $2,810 | -4.30% |
| 8 | TransForce (US only) | $2,490 | $2,375 | 4.80% |
| 9 | Southeastern Freight Lines | $1,700 | $1,685 | 0.90% |
| 10 | Central Transport Int’l * | $1,628 | $1,542 | 5.60% |
| 11 | Averitt Express | $1,149 | $1,165 | -1.40% |
| 12 | Knight LTL ** | $1,068 | $924 | 15.60% |
| 13 | Dayton Freight Lines | $1,043 | $1,035 | 0.80% |
| 14 | Forward Air | $945 | $937 | 0.80% |
| 14 | Pitt Ohio Transportation Group | $939 | $909 | 3.30% |
| 16 | A. Duie Pyle | $616 | $570 | 8.10% |
| 17 | Roadrunner Transportation * | $436 | $410 | 6.30% |
| 18 | Daylight Transport | $393 | $374 | 5.10% |
| 19 | Oak Harbor Freight Lines* | $342 | $320 | 6.90% |
| 20 | Ward Trucking Corporation | $258 | $253 | 2.00% |
| 21 | Cross Country Freight Solutions | $219 | $207 | 5.80% |
| 22 | Magnum LTL | $164 | $155 | 5.80% |
| 24 | Sutton Transport * | $115 | $123 | -6.50% |
| 24 | Lynden Transport | $109 | $105 | 3.80% |
| 25 | Peninsula Truck Lines * | $103 | $102 | 1.00% |
| Top 25 excluding Yellow | $48,175 | $46,389 | 3.8% | |
*SJC estimates
**Includes ACT, MME and DHE acquisitions and growth from new terminal openings
*** Yellow revenue and shipment count was fully absorbed in 2024
Prepared by SJ Consulting Group, Inc.
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In the LTL segment, FedEx Freight once again topped the list with $9.1 billion in revenue, narrowly edging out Old Dominion Freight Line (ODFL), which continues to be a Wall Street standout. Notably, Estes Express Lines posted the strongest year-over-year revenue growth at 12.4%.
A significant move in the LTL market came from Pitt Ohio, which expanded nationally through its acquisition of Wisconsin-based Sutton Transport. Pitt Ohio, ranked 14th, saw a 3.3% increase in revenue last year.
Top 25 Truckload Carriers
Annual revenue, including fuel surcharges
| 2024 Rank |
Carrier name |
2024 Revenue ($ million) |
2023 Revenue ($ million) |
YoY % Change 2023-2024 |
| 1 | J.B. Hunt Transport Services | $4,097 | $4,332 | -5.40% |
| 2 | Knight-Swift Transportation | $3,535 | $3,683 | -4.00% |
| 3 | Schneider National | $2,552 | $2,640 | -3.30% |
| 4 | Ryder Systems | $2,446 | $1,785 | 37.00% |
| 5 | Prime | $2,283 | $2,524 | -9.50% |
| 6 | Penske Logistics | $2,230 | $2,200 | 1.40% |
| 7 | Werner Enterprises | $2,100 | $2,282 | -8.00% |
| 8 | Landstar System | $2,075 | $2,323 | -10.70% |
| 9 | U.S. Xpress Enterprises * | $1,500 | $1,698 | -11.70% |
| 10 | CRST International * | $1,597 | $1,668 | -4.30% |
| 11 | Crete Carrier Corp.* | $1,346 | $1,342 | 0.30% |
| 12 | Daseke * | $1,050 | $1,277 | -17.80% |
| 13 | Western Express* | $1,062 | $1,054 | 0.80% |
| 14 | Heartland Express | $1,048 | $1,207 | -13.20% |
| 15 | PS Logistics | $1,025 | $1,008 | 1.70% |
| 16 | NFI Industries | $1,001 | $1,100 | -9.00% |
| 17 | CR England | $1,000 | $1,089 | -8.20% |
| 18 | Ruan Transportation* | $900 | $937 | -3.90% |
| 19 | Stevens Transport* | $803 | $765 | 5.00% |
| 20 | Hirschbach Motor Lines | $777 | $808 | -3.80% |
| 21 | Marten Transport | $759 | $874 | -13.20% |
| 22 | Covenant Transportation Group | $742 | $696 | 6.60% |
| 23 | KLLM* | $780 | $867 | -10.00% |
| 24 | Universal Truckload | $579 | $557 | 3.90% |
| 25 | Anderson Trucking Service* | $565 | $675 | -16.30% |
| TOTAL FOR TOP 25 CARRIERS | $37,852 | $39,391 | -3.9% | |
* SJC estimates
Prepared by SJ Consulting Group, Inc.
The TL side of the industry, facing declining demand and pricing pressure, saw most carriers report lower revenues year-over-year. J.B. Hunt maintained its #1 position with over $4 billion in revenue, despite a 5.4% dip from 2023. Knight-Swift Transportation held the second spot, and has been making strategic investments to build out a national LTL network, including acquiring former Yellow Corp. terminal leases.
Schneider, ranked third in TL, continues to grow its dedicated fleet operations, recently acquiring Cowan Systems in a $390 million deal to strengthen its East Coast presence.
Across both sectors, carriers that continue to invest in technology, employee retention, and customized service offerings remain best positioned. As Satish Jindel of S.J. Consulting noted, “What business are these carriers in and how do they differentiate one from other competitors?”
Yellow Corp., once a dominant player, was formally removed from the rankings after ceasing operations in August 2023.
For full analysis, including pricing trends and operational strategies, read the complete feature at Logistics Management.
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