Company Earnings

What won and what lost in the third quarter for the rails?

E-commerce fulfillment provider Transportation and Logistics Systems announces plans to acquire delivery and warehousing company Cougar Express.

“The outlook of container shipping still remains clouded in uncertainties over the possible comeback of the COVID-19 pandemic and U.S.-China trade conflicts.”

Management from Schneider National expects tightness in the trucking markets to continue. Inventory restocking will keep truck demand elevated and new capacity is entering the market at a slower pace than in previous cycles.

Flatbed carriers Hornady Transportation and Builder’s Transportation Co. announce the completion of their merger. The deal is part of parent company Daseke’s operational overhaul.

Canadian trucking and logistics firm Titanium Transportation Group set a third-quarter record for revenue as U.S. freight brokerage businesses delivered rapid growth.

Gains come as the shipping giant braces for peak-season impact.

Air Canada sees a business opportunity flying all-cargo planes for e-commerce companies.

Radiant Logistics uses cost savings to offset demand declines from COVID-19. The fiscal first quarter sees debt decline further as acquisitions remain on the table.

Air Canada revenues came in below expectations, but the company was able to cut costs to beat earnings expectations.

XPO is `very comfortable with where we are’ heading into 2021, Jacobs says.

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The trans-Pacific capacity crunch continues. Container volume that’s either inbound to Los Angeles or stuck at anchorage is surging.

While some truckload carriers posted significantly better-than-expected results, most saw their shares sag as the bullish trucking trade cooled heading into the third-quarter earnings season.

Americold announces another large acquisition, a couple of expansion projects, and informs analysts and investors that the holidays haven’t been canceled.

FleetCor’s third-quarter revenue topped most Wall Street expectations for revenue at $580.8 million, while its earnings per share missed expectations by 46 cents.

Digital brokerage increased revenue, EBITDA

Business “rebounded dramatically” in the quarter, Jacobs says.

Euronav exec curses crude-tanker market (literally). Scorpio exec pitches product-tanker promise and throws shade at crude side.

Atlas Air rode the rising tide for air cargo to higher profits in the third quarter.

Sunnyvale, California-based Trimble Inc. is a provider of technology solutions for trucking companies, freight brokerages and third-party logistics providers.

Heartland Express raises driver pay 6% across the board and as high as 12% for some.

But margins made on those diesel sales were down from 2Q and last year

U.S.-listed carrier reveals the latest on trans-Pacific holiday rush, restocking, e-commerce spike and port congestion.

Logistics provider ArcBest is experiencing some of the strongest tonnage trends in the company’s history. The year-over-year comparisons turned positive in August and have continued to climb.

Expeditors sees drop in air, ocean moves but net income climbs

Cargojet’s record airfreight volume helped adjusted earnings double in the third quarter.

Landstar System announced that its CFO was stepping down immediately. President and CEO Jim Gattoni will act as the company’s CFO on an interim basis until a replacement is found.

Logistics provider ArcBest beats third-quarter expectations by 50%. Improved demand and cost management drive the result.

YRC Worldwide announced several changes in its third-quarter report. The biggest was that the carrier has already accessed CARES Act relief money to replenish its fleet.

YRC Worldwide announced that it has accessed the first $75 million of the second tranche of the CARES Act loan it received in July. These funds are to be allocated for upgrades to the fleet.

Flatbed carrier Daseke Inc. cruises past third-quarter forecasts. Operations are likely to improve again in 2021 but high-margin third-quarter project freight could create some tough comparisons.

Ocean Network Express is cautious in its full-year forecast as “future cargo demand is very uncertain” while the COVID-19 pandemic wages on.

Universal Logistics credits its turnaround to the resurgence of the North American automotive industry, particularly in the light-truck and SUV markets.

USA Truck’s third-quarter performance was something management had been foreshadowing for the last few quarters. They were adamant that earnings would improve if the market would cooperate.

CFO Col: ‘We’re not upset when we have to use it’

Several key metrics in LTL operations show downturn from last year

Flatbed carrier Daseke Inc. posted a third-quarter result that highlighted the company’s restructuring efforts and easily surpassed analysts’ expectations.

Olsavsky says transport spending is in a multiyear ramp-up as the company posts solid third-quarter results.

Hub Group sees a strong demand environment continuing as most of its customers are operating with lean inventories. The company expects tight freight fundamentals to create a favorable rate environment in 2021.

Air Transport Services Group’s freighter leases offset financial losses from its grounded passenger planes.

Universal Logistics reported revenue of $365 million during the third-quarter, a 2.8% decrease compared to the same period last year.

Sales of used vehicles set a record, up by two-thirds from a year ago and 40% sequentially

The e-commerce retail and logistics giant’s bottom line is healthier than ever.

The strength in truckload fundamentals didn’t really show in Schneider National’s third-quarter report. Lower revenue per truck, intermodal rail congestion and brokerage malaise overshadowed the announcement of a $2 special dividend.

Wex said global uncertainty around COVID-19 affected its fuel card payment processing and corporate travel segments during the third quarter.

The future for the Shopify Fulfillment Network could involve highly automated warehouses with robots in different parts of the world, says CEO Tobi Lutke.

Operating income up 21.7% while revenue up just 2.7%; performance far better than Wall Street forecasts

Schneider National announces a $2 special dividend answering the mounting questions around the carrier’s future cash deployment. After the $355 million payment, the company still has ample cash to pursue other initiatives.

Kirby tops earnings expectations on lower costs despite COVID and hurricane hits to demand.

Danish third-party logistics services provider’s bottom-line benefits from easing COVID-19 during summer months.

Canadian e-commerce company Shopify grows profits and revenue in third quarter as COVID-19 accelerates move from mortar to online shopping.

Prologis Inc. announces the completion of the largest-ever portfolio sale of logistics warehouses in the U.K.

Werner Enterprises sees the current tightness in the truck market continuing into 2021 as inventory restocking will take multiple quarters to accomplish and drivers are in short supply.

The railroad will be idling rail yards around Atlanta and will cease humping operations at its Macon, Georgia, yard.

In third-quarter 2020 financial and operational results released after trading ended on Wednesday afternoon, Chicago-based third-party logistics provider Echo Global Logistics (NASDAQ: ECHO) reported record gross revenues, which grew by […]

Werner Enterprises’ third-quarter result comes in ahead of analysts’ forecasts.

Higher U.S. operating costs take center stage in discussion of company’s outlook.

Orbcomm Inc. reported a loss of $5.5M in its third quarter and a net loss of $0.07 per share. The company had revenue of $61.7M for the quarter.

In quarterly earnings report, company reports decline in revenue but big jump in net income

The Eastern U.S. railroad reported an adjusted net income of $643 million in the third quarter of 2020, compared with $657 million a year ago.

Revenue climbs to more than $21 billion, a near 16% gain.

Revenue and earnings beat estimates; improved OR might not stick but there are broader goals at the company

Managing for yield, Robinson shuns truckload volume growth to take a double-digit price increase.

Less-than-truckload carrier Old Dominion looks to build on its record third-quarter operating ratio in what it expects will be a “robust” 2021.

Less-than-truckload (LTL) carrier Old Dominion sets a new operating record on its way to a 19-cents–per-share third-quarter earnings beat.

Company had forecast an OR in the low 90s and got there; tractors reduced but Parker says it’s part of the plan

Deutsche Bank’s geofencing data shows less-than-truckload terminal activity at XPO accelerated during the third quarter while other carriers saw moderation.

Hong Kong-based container carrier moves 1.94 million TEUs during the third quarter of 2020.

The railcar manufacturer sees mid-2021 as a possible time frame for a post-coronavirus economic recovery for the rail industry.

The railcar lessor has developed a new strategy that will focus on providing rail-related services and products as part of a broader effort to boost its profitability.

UP expects longer and heavier trains in its future as it seeks to take more intermodal market share away from trucks.

OR improved for the company; on analyst call, Fuller says there will be bumps in the road on the way to a new operating model.

Supply chain solutions technology provider Manhattan Associates sees favorable long-term tailwinds as multichannel retail delivery expands.

TFI International reports a large jump in Q3 profits as strong performance from e-commerce heavy-logistics business and wage subsidies make up for weakness in truckload and LTL.

Q3 performance contrasts with loss in corresponding quarter last year

American Airlines achieved a $77 million quarter-over-quarter gain in cargo revenue thanks to stepped-up cargo operations and favorable market rates.

The company is also eyeing opportunities to develop its real estate offerings and will bring on more assets to handle additional volumes, executives said during CSX’s third-quarter earnings call.

Management from truck broker Landstar sees no near-term letup in tight truck market fundamentals. The company’s fourth-quarter guidance brackets its EPS record set in the fourth quarter of 2018.

Alaska Airlines is slowly improving its financial outlook month by month, but it still lost about $400 million in the third quarter.

Lower fuel prices drove Union Pacific’s operating ratio lower. Meanwhile, third-quarter net profit fell 12% year-over-year.

COVID-19 keeps bookings soft, planes parked during quarter.

Rush Enterprises reported lower Q3 sales and earnings. But the truck dealership network exceeded analyst estimates in both top and bottom line.

Forward Air sees 60 cents per share in the third quarter. The earnings pre-announcement comes in significantly higher than analysts’ current forecasts.

Truck broker Landstar System handily beats its guidance, which was raised in early September. The company posted its second-best third quarter ever.

Canadian trucking and logistics company Mullen Group reports continued headwinds from the pandemic in Q3 as government wage subsidies help offset drop in revenue.

Tesla (NASDAQ:TSLA) reported third-quarter revenue of $8.77 billion, a year-over-year increase of 39%. The total from the company came in higher than estimates of $8.26 billion. Automotive revenue was $7.6 […]

Just like its other Class I counterparts, CSX grappled with lower volumes year-over-year in the third quarter as the broader economy recovers from the COVID-19 pandemic.

Knight-Swift Transportation’s third-quarter report provides an earnings beat, a 2020 guidance raise and a better-than-consensus first take at 2021 earnings as the carrier sees “strong freight conditions” continuing.

Higher rail volumes continue to be a trend in the fourth quarter, but the pace of volume growth could depend on how the COVID-19 pandemic plays out this winter.

Demand is reducing inventories while sales remain strong, leaving no cushion before sales ramp up as they do in November and December.

Knight-Swift Transportation raises its 2020 outlook and provides 2021 guidance that is well ahead of recently raised expectations.

Revenue growth in the railcar lessor’s international segment and in its portfolio management program affiliated with Rolls-Royce helped offset losses for its North American segment.

P.A.M. Transportation Services sees a “marked improvement” as its auto manufacturing customer base gets back to work. The carrier expects “upward rate pressure” as truck capacity tightens.

Logistics real estate investment trust (REIT) Prologis beats third-quarter expectations and raises guidance. Conditions have improved and the runway for e-commerce-related growth appears long.

The railroad has 1,000 acres it can develop with partnering customers.

Logistics real estate investment trust Prologis records a better-than-expected third quarter and modestly raises its 2020 guidance.

PACCAR Inc. earnings fell in the third quarter but the maker of Kenworth, Peterbilt and DAF Trucks continued a string of beating earnings estimates.

At $1,931, it’s up from both the second quarter of this year and Q3 of 2019

The CARES Act oversight commission is still waiting on a response from the Defense Department regarding its “national security” designation of YRC Worldwide, which allowed the carrier to obtain a pandemic relief loan.