Company Earnings

Supply chain technology provider Manhattan Associates bests fourth-quarter forecast and raises 2021 guidance. Management sees “robust” global demand for cloud solutions.

Amazon announces a leadership shift as it crushes fourth-quarter 2020 estimates and reports $125 billion in revenue.

Ocean Network Express takes giant profitability leap — from $5 million to $944 million year-over-year.

Logistics provider ArcBest sees positive tonnage trends continue in the first quarter. The less-than-truckload carrier is attempting to break the historical margin decline seen from the fourth quarter to the first.

E-commerce and shipping solutions provider Pitney Bowes reported “the highest modern-day, organic growth rate on record.”

UPS reports all-time annual records for revenue and earnings per share.

Logistics provider ArcBest reported better-than-expected results for the fourth quarter Tuesday. Less-than-truckload tonnage increased by double-digit percentages as weight per shipment jumped 10%.

Forward Air is the latest transportation provider to implement general rate increases amid a tight capacity environment. The company’s 6% GRI will apply to all shipments.

YRC announced Monday the further expansion of its regional next-day service at YRC Freight. This rollout will make the service available out of 13 terminals throughout the mid-Atlantic.

Only a week removed from the $800 million purchase of UPS Freight, TFI International is back at it. On Monday, the company announced the acquisition of van and flatbed carrier Fleetway Transport.

Despite strong Q4, Daimler Trucks likely to miss analyst consensus on sales and profits based on parent company’s forecast.

An interview with flatbed carrier Daseke outlines the company’s operational focus and plan to get back to growth through acquisitions.

Flatbed truckload company Daseke beats earnings per share estimates in the fourth quarter but revenue and operating ratios slide. 2021 guidance provides a bit of a mixed bag.

In what amounted to an “encore,” the end of the Q&A didn’t mean an end to the discussion on Variant and its role in USX’s future.

Fuller: Variant initiative was 9.4% of truckload revenues in fourth quarter

Truck broker Landstar System expects high demand and elevated truckload rates to carry through the first quarter of the year. However, the company’s CEO has a bit of a contrarian “pessimistic” view for the second half.

Truck broker Landstar System set records in the fourth quarter. The company is expecting the high-demand environment and improved truckload pricing to carry through at least the first quarter.

Canadian Pacific reported a fourth-quarter operating ratio of 53.9%, a record low. Fourth-quarter net profit was CA$802 million, up nearly 21% year-over-year.

Hapag-Lloyd credits higher freight rates and lower bunker prices as “the main drivers of these positive business developments.”

Knight-Swift Transportation reports a big jump in results during the fourth quarter. However, while some may view this as a victory lap, investors appear to be calling the end to the TL trade.

Alaska Airlines’ parent company is one of the better managed airlines in the industry. Its financial results during a pandemic year show why.

Knight-Swift Transportation capitalizes on strong truckload fundamentals to post much higher year-over-year results. Fourth-quarter numbers came in slightly ahead of expectations and the company’s full-year 2021 guidance remains unchanged.

Fourth-quarter net profit was $671 million. An 8% decrease in operating expenses helped to offset a 4% decline in operating revenues.

Operating ratios for all its segments improved in the final three months of the year.

Net income rebounded 49.1% year-over-year from one of the 3PL’s worst quarters.

CN’s fourth-quarter net income was C$1.02 billion amid a 2% increase in revenue and a 5% decrease in operating expenses.

Prologis enters the new year with “optimism and confidence” as logistics real estate remains in high demand. Fourth-quarter financial results and 2021 guidance come in ahead of forecasts.

Wall Street reacts negatively to the latest earnings report, but Covenant suggests it’s playing a long game.

The continuing impact from COVID impacts results but the Kenworth, Peterbilt and DAF parent company still turns in positive numbers.

Logistics real estate operator Prologis reports better-than-expected fourth-quarter results as the “pandemic has pushed global supply chains to their limits.”

Past Forward Air CFO Andy Clarke outlines his outlook for improving returns at his former company. He represents an activist investor group, which includes turnaround investment firm Ancora Advisors and Forward’s founder.

The Triumph acquisition of TFS has had plenty of problems since it was first announced.

KCS’ fourth-quarter 2020 net profit was $165.7 million, compared with $127.2 million in Q4 of 2019.

Fourth-quarter figures at Triumph were impacted by the third-quarter acquisition of Covenant’s factoring business.

CSX’s fourth-quarter net income slipped 1% to $760 million amid a 2% decline in revenue.

Union Pacific’s net profit was $1.4 billion in the fourth quarter of 2020, on par with the fourth quarter of 2019.

An economic outlook report from truckload carrier U.S. Xpress calls for tight truckload dynamics to remain in place at least through the third quarter. The forecast calls for contractual rates to increase as high as 15% in the year.

Another supporter of improving less-than-truckload fundamentals was identified this week. UBS analyst Tom Wadewitz initiated coverage of the group with a favorable outlook.

Cardinal Logistics has acquired heavy-goods final-mile provider NRX Logistics. The deal marks the third final-mile transaction for M&A advisory firm Tenney Group in the last year.

J.B. Hunt Transport Services’ fourth quarter came in better than expected. However, the company said it was reviewing long-term margin targets across all segments. Intermodal margin forecasts may be reduced but other units could see upward revisions.

J.B. Hunt Transport Services’ fourth quarter outpaces analysts’ forecasts. Brokerage, truck and final-mile divisions benefit from revenue surge.

Fourth-quarter results for Heartland Express displayed a revenue dip on driver employment headwinds but operating income jumped 35%. The company mentions getting back into M&A.

Interview with Daseke’s leadership team covers recent changes and the return to M&A.

Delta’s downsizing helped it contain costs during an extremely challenging pandemic year. On Thursday, it reported a fourth-quarter loss before taxes of $2.1 billion.

Temperature-controlled carrier Nagle Toledo announced a 17% pay increase for its drivers. The company was one of the first to start paying drivers a straight salary.

ORBCOMM’s privately transacted $200 million refinancing means the ELD provider is entering 2021 with a markedly different balance sheet than in recent years.

Deutsche Bank’s December geofencing data suggests LTL volumes continued the positive trends seen in the first two months of the fourth quarter.

Bed, Bath & Beyond reported EPS of less than half consensus estimates. CEO Mark Tritton pointed to tight shipping capacity and elevated freight costs for the miss. Get used to hearing this.

UBS equity research analyst Tom Wadewitz’s 2021 outlook calls for a continuation of healthy freight activity during the first half of the year with a little more uncertainty in the back half.

A congressional oversight report highlights flaws in the Defense Department’s designation of less-than-truckload carrier YRC Worldwide as a company vital to national security.

Flatbed carrier Daseke announced several moves Tuesday. The company’s CEO has resigned, former founder Don Daseke will be renominated to the board and institutional shareholder Lyons Capital will occupy a board seat.

Former executives at Forward Air along with an activist investor have been acquiring shares since October in efforts to make changes to the management team, board and capital allocation strategy, which may include divesting “non-core assets.”

The trucking sector has been on a historic run of late, with some pointing to an end nearing. Don’t tell that to Deutsche Bank’s Amit Mehrotra, who sat down with FreightWaves to discuss his positive outlook for the new year.

Americold announced that it has closed on a 46-facility deal valued at $1.74 billion.

Railcar lessor GATX acquires tank container lessor Trifleet in 175 million euro deal.

Indianapolis-based third-party logistics provider FitzMark announces the completion of a majority recapitalization. The transaction allows the brokerage consolidator to further pursue organic growth plans and acquisitions.

A quarterly year-over-year drop of 25% needs to be on the books for access to money.

Drayage provider ContainerPort Group announces intermodal terminal operator FSI Inc. will start operating under the CPG banner at the beginning of the year.

Sell-side research analysts have made their bets on trucking in 2021. Some believe a continuation in consumer spending and inventory restocking will benefit truckload carriers while others see less-than-truckload carriers gaining traction as the industrial economy advances.

Shares take a hard hit in after-hours trade despite blowout fiscal second-quarter results across the board.

J.B. Hunt issues intermodal service advisory as railroads BNSF Railway and Norfolk Southern implement gate restrictions in Los Angeles and Chicago.

Schneider National announces a per-mile pay increase of 4 cents for most drivers beginning in late January. Earlier this year, the company announced an increase in team driver pay.

Third-party logistics provider FitzMark announces its third brokerage acquisition of the year and fourth in the past two years.

Forward Air is growing its traditional less-than-truckload terminal count. This time it is adding California’s Inland Empire to the roster.

Frozen Food Express is raising linehaul driver pay by 25% for new solo drivers and 20% for team drivers.

Truckload carrier Titan Transfer adds another fleet to the portfolio with the acquisition of JTL Carriers.

Treasury Secretary Steven Mnuchin had his day in court so to speak. He said he stands behind the YRC loan and others made, noting that many lawmakers wished Treasury had taken on more risk.

Landstar System announced after the market close on Wednesday what it would do with cash on the balance sheet. The company plans to pay a one-time special dividend of $2 per share in January.

Hub Group’s acquisition ambitions land in the final-mile sector in a $94.5 million deal for non-asset provider NonstopDelivery.

Shares hit record close as UBS markedly boosts EPS for fiscal 2021 second quarter and raises 12-month price target to $380 from $320.

ArcBest sees asset-based revenue continue positive streak in November. This is the fourth LTL carrier to report improving trends in the quarter.

YRC Worldwide reports 3% year-over-year increase in November revenue, following a modest decline in October. The company’s overall trends are still lagging those of some competitors.

Container shipping stocks are back to pre-COVID levels whereas many tanker and bulker stocks are down by double-digits year-to-date.

Daseke receives a “positive” nod from ratings agency as its restructuring initiatives are being noticed.

Old Dominion Freight Line reports further improvement in less-than-truckload trends since the positive August inflection. This is the second carrier in as many days to show that metrics have accelerated through the fourth quarter.

Canadian supply chain software firm Descartes Systems Group continued to aggressively grow profits in the third quarter as it set a record for revenue.

Less-than-truckload carrier Saia is the first company to provide an update on shipment trends for the fourth quarter, leaving at least one analyst “encouraged.”

Penske Logistics plans to acquire Black Horse Carriers, a Chicago-based trucking company with more than 2,000 vehicles and 4,000 employees.

Cold storage heavyweight Lineage Logistics announces the acquisition of Poland’s largest temperature-controlled storage and logistics provider, Pago.

Triten Real Estate Partners announces its latest industrial real estate portfolio addition, picking up the headquarters of Polar Service Centers in a sale-leaseback agreement.

All measures of bad loans are healthier in BMO’s report

Temperature-controlled carrier KLLM Transport Services is rolling out “one of the largest” increases to driver pay in the company’s more than 55-year history.

J.B. Hunt adds to its final-mile network through acquisition for the fourth time since 2017. The company announces the acquisition of commercial fitness delivery and installation company Mass Movement.

Recent data points as well as updates from retailers suggest this inventory restocking cycle may take a few quarters to fix, meaning the current supply-demand dynamic in trucking could linger.

Worries mount for crude tankers: dividend cuts, the pandemic, a stubborn floating-storage hangover … and now newbuild chatter.

Forward Air adds to non-airport less-than-truckload service by opening a facility in Bethlehem, Pennsylvania.

Mirroring bullish comments by Maersk and Hapag-Lloyd, container line CMA CGM reports a strengthening market in the fourth quarter.

Trucking executives were on hand at Stephens Annual Investment Conference this week, making it known that this cycle is different and that the current market dynamics are here for a while.

YRC head Darren Hawkins has “a lot of confidence” heading into 2021. Network restructuring initiatives are expected to be greatly advanced as the carrier starts accepting delivery of new equipment.

Landstar System inches its fourth-quarter expectations higher but cautions that this trucking cycle may not be different from those in the past.

Payouts will be $1,000 to full-time workers, covering about 75% of all company employees

Holiday orders will be spread evenly throughout cycle, CEO says.

Net profit skyrockets by more than 2,800% to $144.4 million.

Maersk confirms that cargo demand looks strong through year-end, bucking the usual seasonal trend.

EPS reported above analysts’ consensus.

“Winter is Coming” is a warning in House Stark and usually a blessing for tankers. But there’s nothing usual about 2020.

South Korean carrier turns quarterly $103 million loss last year into $20 million profit this year.

Package revenue surpasses first-class mail revenue for first full-year period in history.

Hapag-Lloyd sees strength until “at least Chinese New Year” and a challenge to “get containers where they need to be.”

The earnings season for the third quarter has wrapped up and Todd Fowler of KeyBanc has a few things to say. Fowler is the lead transportation analyst at KeyBanc and […]