Company Earnings

The Cass Freight Index booked 7% sequential gains in shipments and expenditures during September.

Executives are confident about an economic recovery but uncertainty persists over how much volumes will grow in the fourth quarter and into 2021.

Shares of J.B. Hunt Transport Services move 9% lower after the company fails to meet recently raised analyst expectations. Intermodal service headwinds and elevated costs were the culprits.

Bottom line on operating and net income largely unchanged; revenues up but costs were too

Genuflecting toward Wall Street has symbolically become part of the North American Class 1 rail company culture.

Volvo Group Q3 sales and earnings trailed last year. But a recovery in heavy-duty truck orders and market share gains in North America improved a bleak picture.

Lower operating expenses drove the increase in third-quarter net income.

J.B. Hunt Transport Services misses 3Q estimates by 9 cents per share. Revenue and operating income climb 5% but a variety of cost inflation and a tough truck brokerage market weigh on the quarter.

Income per share beat consensus but total and truckload revenue disappoints; stock falls in after-market trading

Total revenue at the company, the first carrier to report third-quarter earnings, was up more than 20%

German container carrier now expects 2020 EBITDA of between $2.8 billion and $3.04 billion.

Teamsters and YRC Worldwide agree to implement $7,500 hiring bonuses to new drivers. YRC will select the regions for the new bonus pay but the local unions have the autonomy to decline them.

United Airlines lost more than $2 billion in the third quarter, but the cargo division did its part to stabilize finances.

Delta Air Lines (NYSE:DAL) reported quarterly losses of $3.30 per share, which missed the analyst consensus estimate of $3 by 10%. This is a 242% decrease over earnings of $2.32 […]

Cold storage operator Americold expands its portfolio again, this time in a $1.74 billion bid for the world’s fourth-largest provider. Americold plans to offer 33 million common shares in total to facilitate the deal.

Data and commentary point to an earnings blowout for trucking companies in the third quarter with the likelihood of similar results in the fourth quarter. However, headwinds surrounding driver recruitment and retention present a hurdle to the rally.

The less-than-truckload industry continues to expand its footprint. Saia Inc. has added terminal capacity again, this time transitioning into a new 200-door terminal in Memphis, Tennessee.

Listed carriers are poised to post stellar third-quarter numbers on higher rates and volumes.

Soaring demand and a lack of truck capacity have industry participants calling for double-digit rate increases in 2021. UBS transportation equities analyst Tom Wadewitz outlines his bullish call in a note to clients.

Forward Air announces another acquisition as it advances its no-wait growth plan. The Greeneville, Tennessee-based trucking company adds intermodal drayage provider Value Logistics to its roster.

TFI International’s acquisition spree continues. The Canadian transportation and logistics company adds another bulk carrier to its portfolio with the purchase of Grammer Dry Bulk.

Canadian trucking and logistics company Mullen Group announces the acquisition of customs warehouse operator International Warehousing and Distribution Inc.

Radiant Logistics achieves a couple of records during the recent quarter. Moving PPE and other aid paves the way to a large earnings beat.

Forward Air adds traditional LTL service to more of its facilities as carriers put more assets to work in the space.

U.S. Xpress’ industry forecast calls for the truckload market to experience high driver turnover, declining capacity and “overwhelming” volumes through 2021.

Cowen raises price projection for the truckload carrier after its announced third-quarter forecast

Covenant also announces it reached agreement with Triumph over sale of TFS factoring unit

Cass data for the month of August shows significant acceleration in demand and rates but the comparisons to 2019 still lag other data sources.

With many data points sitting at cycle highs, several industry participants are calling for the trucking market’s bull rally to last well into 2021.

It appears Lineage Logistics will be able to sustain its 60% annual cubic-foot growth rate. The company announces an equity raise landed it with $1.6 billion in new capital.

Forward Air announces the addition of CLW Delivery to its last-mile network, continuing its acceleration of both inorganic and organic growth initiatives.

EPS numbers nearly double analysts’ median estimates.

Shares soar after hours.

Radiant Logistics reports new revenue and earnings records in a fiscal fourth-quarter update. The company has delayed its annual filing and conference call with analysts, citing delays associated with the pandemic.

But overall outlook that S&P and Moody’s see for the telematics company is positive as a result of the purchase

Landstar System raises earnings outlook on higher truck volumes and pricing improvements. New third-quarter expectations are 25% higher than the midpoint of the previous guidance range.

Tightening truckload and intermodal markets have carriers expecting the hot freight market to carry forward. One carrier is calling for large rate increases in 2021.

Canadian supply chain software provider Descartes Systems Group reports increase in profits and sales in the second quarter as the company eyes acquisition opportunities

YRC Worldwide reported trends worse than its competitors for the first two months of the third quarter. Recent postings show the carrier is moving forward on its turnaround by rationalizing its terminal network.

ArcBest’s results for the first two months of the third quarter confirm recent positive updates provided by other less-than-truckload carriers.

Deutsche Bank’s Amit Mehrotra becomes increasingly bullish on the future of trucking. The analyst is forecasting earnings growth at the publicly traded carriers much higher than that of his peers.

CMA CGM bonds that traded at 55 cents on the dollar in March are now trading near par.

The “less bad” trend may be over for less-than-truckload carriers. August updates from a couple of carriers show modest year-over-year improvement for the first time since April’s nadir.

The Wall Street Journal is reporting that U.S. Class I railroad Kansas City Southern is in play again. Blackstone and Global Infrastructure Partners are reported to have made an offer.

Cold chain facility operator Americold Realty Trust adds three facilities to the network in a pair of transactions.

Strong spot market fundamentals and low inventories prompt UBS analyst Tom Wadewitz to raise truckload carriers’ earnings estimates for the second half of 2020.

The head transportation analyst at Deutsche Bank says a market that sped up through the second quarter has raced ahead so far in the third

Demand headwinds will place “downwards pressure on revenue and earnings likely into 2021” for trailer manufacturer Wabash National. This was part of the rationale behind credit rating agency Moody’s lowering its ratings on the company.

Hong Kong-based 3PL’s warehouse business suffers from shrinking inventories, but forwarding business saves the day, leading to $109 million first-half profit.

After significant deterioration in the second quarter, most numbers for the key trucking sector lenders are stable to improved

The commission overseeing pandemic loans has asked the Treasury Department for virtually every document that was used to grant struggling less-than-truckload carrier YRC a $700 million loan.

Q2 EBITDA increases 53.7% and operating cash flow jumps 86.9%.

FreightWaves’ JT Engstrom and Tenney Group’s Spencer Tenney sit down at the FreightWaves Carrier Summit to discuss reasons trucking deals are outpacing broader deal flow.

Declines in Cass freight data continue to outpace the industry by a considerable margin. The firm sees improved results on the horizon.

Carriers with exposure to essential retail are benefiting from increased freight demand as retailers of grocery, household and home improvement goods struggle to keep inventories on their shelves.

New normal for container shipping: active capacity management and digital spot bookings.

Walmart’s fiscal second quarter comes in well ahead of analyst expectations as e-commerce sales surge. The COVID-related inventory drawdown is a positive for trucking.

An interview with Daseke CFO Jason Bates highlights the company’s financial turnaround. When will the carrier get back on the acquisition trail?

Roadrunner fully exits truckload business and announces financial improvement. The company adds former Celadon CEO to the board.

Taiwanese carrier’s dry bulk business takes a beating.

The coronavirus pandemic remains a “major source of uncertainty for the entire logistics industry.”

Operating profit “turnaround” of more than $300 million reported.

Although the order volume for new railcars could be “lumpy” industry-wide, the railcar manufacturer hopes to take advantage of increased inquiries.

Titanium Transportation Group increased profits and continued to aggressively pay down debt even though revenues fell by almost 10% as the Canadian firm navigated the impacts of COVID-19.

Fleet size down by 10%; cutback in other costs highlighted company’s performance.

When times get tough, crude-tanker owner DHT starts buying. Times are getting tough.

Lineage Logistics has added 24 locations to its network of cold storage facilities through a series of acquisitions. The announcement follows a few large deals Lineage announced recently.

Mesa Airlines flies small regional jets on small routes for mainline carriers. Now it’s stepping up a size to the Boeing 737 so it can haul cargo for DHL. Find out how they are getting ready for the new era of cargo.

Total charges were more than $30 million as part of strategic shift

Workhorse Group lost a lot of money on paper because new borrowing was tied to its exploding stock price. But it has the cash on hand to build electric trucks into 2022.

The COVID-19 pandemic dented BNSF’s profits and lowered rail volumes in the second quarter.

M&A is being blocked by weak share pricing among buyers and lack of desperation among sellers.

Korean Air is a unicorn among passenger airlines. It made a profit in the second quarter, a remarkable feat given the depressed state of the airline industry.

Cold storage facility operator Americold Realty Trust’s second quarter was slightly below expectations on choppy demand and increased COVID costs.

Euronav and Scorpio Tankers highlight attractive fundamentals after floating storage wraps up.

Shares of Daseke surge 20% as the company’s overhaul appears to be ahead of schedule. Second quarter results were better than expectations.

Atlas Air Worldwide’s big cargo planes have been in flying full tilt since the novel coronavirus metastasized in March. Combine that with high rates and you’ll understand why r revenue and profit grew so much in the second quarter.

Flatbed carrier Daseke’s turnaround starting to show fruits. Stock pops more than 15% on better-than-expected second quarter.

Sunnyvale, Calif.-based Trimble is a provider of technology solutions for trucking companies, private fleets, freight brokerage, and third-party logistics providers.

Air Transport Services Group

YRC Worldwide expands regional next-day service throughout the South. The announcement follows similar expansion plans from competitors.

Deutsche Post DHL saw a significant rise in e-commerce activity during the second quarter due to continued COVID-19 travel restrictions and retail store closures.

TravelCenters of America has been forced to close some restaurants again as an increase in COVID-19 cases has tightened restrictions on dining out in some regions.

The cargo divisions at Air Canada, IAG/British Airways and Air France-KLM played dominant roles for their respective airlines in the second quarter, creating cash flow. Typically, they barely register on the financial statement. What happened?

YRC management believes it will take four to six quarters to complete $400 million worth of equipment replacement.

YRC Worldwide’s second-quarter loss came in ahead of expectations. The earnings call is likely to focus on the company’s path forward.

Old Dominion Freight Line says it has expanded its network of service centers by nine so far in 2020. The expansion will facilitate the carrier’s efforts to grow market share.

With possible permanent loss of some of its retail base, TFI will need to take steps that may include acquisitions, the company’s CEO said.

While revenue for Universal Logistics Holdings’ truckload, brokerage and intermodal segments all declined during the second quarter, the CEO said he was pleased with the “anticipated direction of our current operations.”

Numbers for the division were far worse than those of peers like Old Dominion and Saia; Deutsche Bank recommends breakup of the company

Forward Air lays out plans to expand its less-than-truckload footprint. More terminals are expected to open this year.

In conference call, CFO Satterfield discusses some flaws with other measures of LTL profitability

Amazon cautions that the company is running out of fulfillment and delivery capacity.

Hub Group’s second-quarter earnings beat was accompanied by the expectation for intermodal volume to increase in the high-single-digit range for the rest of the year.

The important barometer is down about 10 percentage points on decline in XPO LTL revenue that outstripped cutbacks in expenses.

On a per-share basis, the Warren, Michigan-based company said it had net income of 23 cents per share, on total operating revenues of $258 million.

Amazon reported strong second-quarter revenue and profits as it benefited from the rapid acceleration in e-commerce demand due to efforts to control the spread of the novel coronavirus.

Improving demand and truckload fundamentals are expected to drive third-quarter growth. The carrier’s growing cash balance garners some attention.

WEX Inc., a provider of fuel cards and account management services, reported sales fell 21% year over year to $347.1 million.

The railroad aims to take market share away from trucks through expanded offerings in the Southwestern and Southeastern U.S.