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The railroad won’t give new guidance because of uncertainties surrounding chip shortages and events in Mexico creating limited visibility.
Carriers have overcome notable cost inflation and disruption to post better-than-expected results so far in the third-quarter earnings season.
Shares of J.B. Hunt Transport Services jumped 10% Friday as the company navigated supply chain challenges during the third quarter to beat analysts’ forecasts.
J.B. Hunt Transport Services sidesteps disruption throughout the transportation network to beat analysts’ forecasts.
With business booming, the logistics warehouse titan reports better-than-expected results and raises full-year estimates.
P.A.M. Transportation Services sees earnings surge during the third quarter even as supply chain disruption accelerates.
Heartland Express beats expectations in the third quarter with the help from gains on sale.
Delta Air Lines’ recovery from the pandemic hit a high note in the third quarter.
As America struggles with a growing supply chain crisis, ocean carriers rake in even more profits.
The German titan reports solid performances from its Express, Forwarding, Supply Chain and eCommerce units
Yes, despite the headaches, the ocean carriers are making boatloads of money.
Morgan Stanley analyst Ravi Shanker believes rate expectations of truckload management teams haven’t been reflected in 2022 earnings estimates yet.
ArcBest’s acquisition of truckload broker MoLo Solutions accompanies an announcement of strong third-quarter results for its LTL segment.
ArcBest announced after the close Wednesday it has entered into an agreement to acquire Chicago-based truckload broker MoLo.
The company didn’t blindside anyone. But it didn’t please that many, either.
The research firm of Evercore ISI launched coverage of the 3PL sector with an enormous report.
More trucking heads weigh in on rate expectations for 2022. Following a sizable rate bump this year, it appears that rates could move considerably higher again next year.
Less-than-truckload carrier Yellow reported tonnage declines worse than its peers for the first two months of the third quarter. The carrier said it currently remains focused on driving yields higher in lieu of volume growth.
The new owners of Echo have portfolio investments in several other logistics companies.
Radiant Logistics announced it closed its fiscal year in record fashion on Thursday. The company will repurchase shares and pursue acquisitions as a means of boosting valuation.
Recent earnings reports from retailers exhibited improved inventory positions compared to a year ago. However, the comps show merchandise levels are still lagging sales by a wide margin.
ArcBest said Wednesday an August tonnage decline in its asset-based segment was done intentionally so that it could better service its core less-than-truckload customers.
Less-than-truckload carrier Old Dominion reported strong operating trends for the first two months of the third quarter. The carrier said it will continue to reinvest in its network to achieve further market share wins.
Less-than-truckload carrier Saia sees tonnage gains carry into the third quarter.
Transplace’s new bookings are said to be a key reason for the improvement in its financial outlook.
Discount chain Dollar Tree expects the positive impact from heightened consumer demand to be totally offset by elevated transportation expenses this year.
The former Bank of Montreal is a lender to all levels of trucking, big and small.
As this year’s peak season gets underway, dislocations in the supply chain are increasing. However, this is really nothing new as the industry has been in peak mode for a year.
Truckload carrier Heartland Express announced a 50-cent-per-share special dividend Friday. It was the second carrier to announce a special dividend this week.
The outlook for the pandemic hurt the company’s review last year, but Moody’s has a more positive view in 2021.
Ocean carrier ZIM now expects to earn $4.8 billion-$5.2 billion this year — five times what it earned in 2020.
Marten Transport announced a special dividend of 50 cents per share. The payment marks the third straight year of special dividends for the carrier.
Truck broker Landstar System points to better-than-expected truck volumes and yield trends in the third quarter as reasons to raise its outlook.
The company will build a limited number of trucks in the fourth quarter for validation and regulatory clearance.
Titanium Transportation Group plans to add two more U.S. freight brokerage offices this year after the Canadian firm reported record second-quarter revenue.
As freight markets enter the second year of peaklike conditions, FreightWaves caught up with Amit Mehrotra, Deutsche Bank’s transportation analyst, to talk about how this freight cycle will play out.
Workhouse Group is reviewing its electric delivery van designs to add cargo capacity and sold most of its stake in troubled Lordstown Motors.
A 26% gain in revenues helped boost BNSF’s net profits in the second quarter of 2021 to $1.5 billion.
Maersk results offer more evidence that capacity constraints and U.S. — not worldwide — demand drive rates.
Temperature-controlled warehouse operator Americold pulled in its 2021 outlook, citing labor-related food manufacturing limitations within its customer base.
Air Transport Services Group is like a Swiss Army knife. It flies cargo and passenger planes for other airlines, leases aircraft, does aircraft maintenance and freighter conversions, and provides ground handling. It’s all clicking for the bottom line.
Also on the podcast: The investment drought in oil setting the table for higher prices
TuSimple is sitting on $1.5 billion in cash as it ramps up hiring and expands its autonomous freight network.
Atlas Air is keeping eight jumbo jets by buying them from leasing companies. It doesn’t want to turn them in because it would have fewer assets available to meet customer demand.
The company says it is on track to hit record earnings this year.
The earnings report is for a 3-month period with no impact from the big Transplace acquisition announced in July.
Yellow says it is making progress toward its unified transport network strategy.
Trimble’s Q2 revenue totaled $945 million, up 29% year-over-year.
Fleetcor is “finally moving past [its] pre-pandemic baseline,” Chairman and CEO Ron Clarke said during the earnings call.
Expeditors is a rare logistics “dividend aristocrat,” with dividend increases of 25 years or more. It is keeping that intact in 2021.
Cummins beat analysts’ Q2 estimates on the top and bottom lines as it looks into making its filtration business a stand-alone entity.
The Texas-based flatbed and specialized carrier raises 2021 full-year guidance for revenue of up to $1.6 billion.
Confident that the indictment of founder Trevor Milton won’t lead to legal trouble, Nikola focuses on supply challenges.
Diesel sales were up 21.2% from last year, but were less profitable on a per-gallon basis
Container giant earned $5.1 billion in the second quarter and expects earnings of $18 billion-$19.5 billion for the year.
The company’s earnings per share tripled the prior-year results due to strong demand, favorable comparisons with 2020’s second quarter.
Ocean Network Express says the “economic environment is now changing” and it cannot forecast what the rest of 2021 holds, but Hapag-Lloyd can. It expects to triple 2020’s EBITDA.
USA Truck reported second-quarter net income of $4.2 million, after reporting a loss of $900,000 in the same period a year ago.
Shipping and fulfillment costs continue to escalate at double-digit levels.
The Omaha, Nebraska-based transportation and logistics provider reported second-quarter adjusted earnings of 86 cents per share.
Forward Air posts a quarterly record for operating income and revenue in the second quarter.
The trucking industry’s issues with driver availability along with customers’ commitment to sustainability are factors that could support growth for intermodal beyond 2021 and 2022, executives said during Hub Group’s earnings call on Thursday.
Wall Street investors liked what they saw in the company’s earnings, pushing the stock up by more than 8%.
“Our logistics segment has been thriving and growing, including contract logistics and port services, with the largest contributor being brokerage,” says Schneider CEO.
Market alliances that seek to convert truck traffic east and west of the Mississippi River could be a way for Canadian Pacific to grow its network, executives said during the second-quarter 2021 earnings call Wednesday.
As Wabash National streamlines its business, the trailer manufacturer will convert reefer capacity to add 10,000 dry vans in 2023.
The numbers that the company is getting on its used tractor and truck sales is outpacing the assumptions in last year’s big inventory writedown
The company posts solid numbers for its transport and logistics units as the logistics business prepares for trading on Monday as a spun-off entity.
Supply chain congestion is more about issues with throughput among various stakeholders and less about Norfolk Southern’s ability to handle volumes, executives said during NS’ second-quarter 2021 earnings call Wednesday.
CP’s second-quarter 2021 revenue totaled $1.64 billion in U.S. dollars.
Management has raised full-year revenue guidance to $3.45 billion-$3.55 billion.
Truckload carriers’ “spillover” freight ties up LTL capacity during unprecedented times, Old Dominion executives said.
The key profitability metric comes in 550 basis points below the company’s 2020 results.
A 24% increase in operating revenue contributed to record second-quarter net income of $819 million for Norfolk Southern.
E-commerce platform Shopify posted 57% growth in revenue in the second quarter as online shopping remained strong.
Robinson CEO Bob Biesterfeld said the truckload market will stay hot through 2021.
Despite all-time-high container production, demand continues to outpace supply and new box prices keep rising.
Peterbilt, Kenworth and DAF Trucks are sold out globally for 2021 as the global semiconductor shortage leaves 6,500 trucks awaiting parts.
TFI International’s hard line on unprofitable UPS Freight legacy business is helping accelerate the LTL carrier’s turnaround – and it’s just getting started
Pollution credit sales are less of a factor as vehicle profitability at Tesla shifts to overdrive in Q2.
TFI International beats analysts in the second quarter as its U.S. LTL division left its days as UPS Freight in the dust.
With two significant acquisitions in the last year, the major force in factoring embarks on a new path.
Cargo was the good news for Air Canada in the second quarter as the company still struggles out of a pandemic hole.
Supply chain disruptions for international intermodal are likely to last through the end of the year, Union Pacific President and CEO Lance Fritz said during the second-quarter earnings call on Thursday.
USX’s CEO Fuller says Variant division is near the ‘inflection point’ for the new initiative having a bigger impact on profitability.
Covenant Logistics Group beat second-quarter earnings expectations and said the second half of the year is likely to produce stronger results.
CSX wants to come up with long-lasting strategies to hire talent so that it can ensure that it can grow capacity in the future, said CSX President and CEO Jim Foote during the company’s second-quarter 2021 earnings call on Wednesday.
Union Pacific’s second-quarter 2021 net income grew 59% from a year ago to $1.8 billion amid a 30% gain in operating revenue.
Covenant Logistics Group reported a better-than-expected second quarter as freight demand remains elevated and capacity is in short supply. The company said the favorable conditions have carried into the third quarter.
Canadian trucking and logistics firm Mullen Group reported strong growth in the second quarter from a combination of a robust freight market and acquisitions.
Freight broker Landstar System sees continued strength in consumer spending push freight demand higher during the second quarter. The company posted its best quarterly results ever Wednesday after the market close.
The report is for a company that is about to undergo yet another change, with HubTran now in the fold.
The sale of property rights of CSX-owned line segments in Virginia more than doubled CSX’s net earnings for the second quarter of 2021 compared with a year ago. Net profit was $1.17 billion in the second quarter.
Daimler Truck sold more vehicles in Q2 than the previous quarter but warned that supply shortages threaten second-half financials.
Customers’ push to manage inventories will support rail volumes in the second half of the year, even though potential headwinds in the form of wildfires, supply chain congestion and COVID-19 loom.
Knight-Swift Transportation beat second-quarter estimates and raised its full-year guidance to include the favorable operating environment in addition to accretion from recent acquisitions. However, the improved outlook includes the expectation for continued cost headwinds around labor.
United Airlines’ cargo division is one of the company’s biggest assets right now, with big returns again in the second quarter.
Higher revenues propelled CN’s adjusted net income for the second quarter to grow by 16.5% to CA$1.06 billion.
Volvo makes no mention of the UAW strikes but smaller sibling Mack Trucks delivers more units in Q2 as the industry recovers from year-ago pandemic shutdowns.
Kuehne + Nagel is one of the largest third-party logistics providers in the world and it got larger in the second quarter.
