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Do trucking and logistics companies have enough cash right now?

Kevin Hill
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Image: Jim Allen/FreightWaves

We discuss how trucking and logistics companies are in a mad dash for cash right now. It is all in their recent financial filings as they are drawing down credit lines and pulling forward guidance. We also have the results for our quarterly survey of small fleets and how their perceptions of 2020 have drastically changed.

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4 Comments

  1. Drey

    Yet Brokers post RECORD profit for Q1 2020.
    Straight abuse of Carriers right now. Truckers should go on strike and cause the entire nation to BEGG truckers to keep driving,
    Unbeliable they expect drivers to risk their lives for $0.75 cents a mile, When brokers are making hundreds to thousands of dollars off one load.
    And no, I am not lying, I have proof when My own Carrier Reps says that they sold the load for $450 and they profited $500.
    Stupid cheap carriers.

    Took a SC > MS Load for $925 last week Friday,
    Same broker, Same lane. Today monday, they will not give it to us for the SAME rate, Instead they are trying to get under $800,
    so with the $925 she told me she was already making $100, Now she expects to make $250 off of a local run? These brokers are insane.

  2. Mike

    And the brokerages will thrive as they scrape that last ounce of flesh off of that .80 load as the zombie trucking companies line up to grab it…

    1. CM Evans

      Fill the tanks full of diesel and head for the house. If the trucks don’t haul the cheap freight, the brokers won’t generate revenue. For every truck that goes out of business take 2 brokers with you.

  3. Dave

    We never have enough cash. Ever.

    And we have way too much debt or lease obligations on the equipment. Few carriers fully own their trucks. They are financed or leased so the minute there is a recession or downturn we go under fast as there are no cash reserves and we owe on the equipment and the drivers still demand to be paid weekly.

    Also our customers regularly don’t pay for 60 to 90 days. It will be worse now and a lot just won’t pay us for loads done in Jan and Feb now.

    All carriers are always 1 to 2 weeks from closing.

    This recession / depression will be no different.. EVERYTHING IS STACKED AGAINST THE SMALL CARRIER WITH UNDER 500 TRUCKS WHICH IS PROBABLY 99% OR MORE OF US.

    Expect mass closings.

Comments are closed.

Kevin Hill

Kevin Hill is the executive publisher at FreightWaves, where he formerly served as director of editorial and research. Kevin is also the host of Put That Coffee Down, the popular freight sales podcast, a former freight broker and the founder of CarrierLists. Kevin holds an MBA from the University of Oklahoma.