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“Cost containment” minimizes the impact of a 15% revenue decline during Schneider National’s second quarter. Guidance was reinstated higher than current consensus expectations.
LTL carrier’s earnings per share beat Wall Street estimates even as revenue was mostly flat with consensus.
UPS’ quarterly results are much better than analysts anticipated.
Werner Enterprises’ second-quarter result was much better than expected, with the carrier providing a favorable rate outlook.
Accelerated depreciation of the value of its inventory has been a key financial undertaking this year, and is a topic of discussion on the company’s earnings call with analysts.
Werner Enterprises reports second-quarter earnings well ahead of analysts’ forecasts and largely in line with the year-ago quarter.
Cost initiatives and spot market freight ease the impacts of a choppy pandemic-impacted freight market. ArcBest’s improving trends lead to reinstated wages and benefits.
Saia Inc. has a market capitalization of $3.33 billion and has 169 trucking terminals in 44 states.
Net income was hit by an earlier writedown of its used vehicle values; company doesn’t see that market getting back to pre-pandemic levels until 2022
Boeing commercial aircraft deliveries fell by more than half over the past six months, compared to the same period last year.
Second-quarter rail volumes fall by 26%.
ArcBest’s second quarter result, a $0.67 per share profit, was much better than analysts’ forecasts for a break-even performance. The company will restore salary and benefit cuts.
Trucking company cites benefits from new digital technology as key reason; gain in one key OR from the first quarter is 500 basis points
Rail equipment manufacturer Wabtect expects sequential rail volume gains to support the company’s global sales in the third and fourth quarters.
NAST margins narrowed, but volumes held up relatively well.
Management from USA Truck provides upbeat commentary regarding the potential for significantly improved earnings as truckload fundamentals remain firm.
It’s not an accident that United Airlines’ cargo business in the second quarter dwarfed that of Delta Air Lines and American Airlines.
Earnings per share exceed analyst forecasts
USA Truck’s second-quarter result comes in slightly ahead of expectations, but the carrier extends its losses to four consecutive quarters.
Orient Overseas Container Line briefly outlines performance for the second quarter and first six months of 2020.
“This outperformance once again demonstrates that we are in the right locations, and a focus on origin and destination cargo will continue to deliver the right balance between growth and resilience,” Sultan Ahmed Bin Sulayem says.
Roadrunner Transportation Systems to spin off global logistics segment, emerging debt-free in the process.
Trinity took a $369 million impairment charge because leasing small cube covered hoppers exposed the railcar lessor to the frac sand market.
The western U.S. railroad looks to take more market share away from trucks.
Company raises guidance for the rest of the year.
P.A.M. Transportation points to automotive manufacturing closures as reason for second-quarter loss.
American Airlines’ cargo revenue for the first half of the year was $277 million, or 37% lower than the first half of 2019.
Landstar’s earnings call outlines the company’s better-than-expected guidance.
Southwest Airlines wrote its second-quarter results in red ink — $1.5 billion to be exact. It is not alone. All airlines are suffering financially from the coronavirus crisis.
Coronavirus pandemic and economic uncertainty weigh on UP’s second-quarter earnings.
Volumes have been recovering swiftly, but headwinds make it difficult to predict when pre-coronavirus levels will fully return.
American Airlines lands $2.7 billion pretax loss in second quarter.
Canadian trucking and logistics firm Mullen Group reports a large drop in profits in its second-quarter financial results. But the company is positioning itself for recovery as business activity comes back.
Tesla will build its newest Gigafactory near Austin, Texas, chief executive Elon Musk announced during the company’s earnings call on Wednesday.
In second-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 gross revenues fell by 7.1% on […]
Landstar misses estimates in its second-quarter report, which included bonus payments to workers during the pandemic. New guidance better than expected.
It is the electric vehicle manufacturer’s fourth straight quarterly profit.
The COVID-19 pandemic and a slumping economy dent CSX’s earnings.
Despite a 12% drawdown in volumes, CP reached a record second-quarter operating ratio of 57%.
Knight-Swift sees demand improve throughout the second quarter, producing a big earnings beat. The carrier raises its 2020 earnings outlook to a level higher than its original expectation.
Knight-Swift posts solid second quarter and reinstates full-year guidance to a level higher than before the outbreak.
The COVID-19 pandemic dampened second-quarter revenue by 9%.
The expectation that North American consumers will help drive intermodal traffic comes as the railway’s second-quarter volumes were hit by the coronavirus pandemic.
Heartland Express announced the family trust of founder and current CEO will sell up to $76.9 million in stock. The family will still hold roughly 40% of the company’s outstanding stock following the transaction.
United Airlines got pummeled by the coronavirus pandemic in the second quarter, losing $1.6 billion before special charges. But cargo revenue jumped because of the huge number of cargo flights it operated without passengers to worry about.
Unadjusted net income for the second quarter falls nearly 60% from the same period in 2019.
Graft says on earnings call that by end of June, number of invoices being processed exceeded year-ago levels
Logistics REIT Prologis sees demand for space accelerate even as e-commerce activity recedes to near-normal levels. 2020 outlook raised on market tightness.
These factors are dampening lease rates and renewal activity, the company said during its second-quarter earnings call on Tuesday.
The coronavirus’ whipsaw effect on the global supply chain took a toll on Kuehne + Nagel during the first half of 2020, but without a rapid internal response the hit would have been far worse, CEO Detlef Trefzger says.
PACCAR beat the consensus estimate of analysts, posting second-quarter profits of nearly $148 million despite U.S. plants being closed for five weeks because of the coronavirus pandemic.
Logistics REIT Prologis reports stronger than anticipated second quarter and raises outlook for the remainder of the year.
YRC loan called into question by Congressional Oversight Commission. YRC’s board may have had the same concerns with the company’s equity in 2019.
Number and average size of invoices purchased both declined from 1Q 2020 and 2Q 2019
Asset sales in Comcar’s pre-packaged bankruptcy have hit a roadblock. Obstacles include questions on trailer titles and the sale of the business units to the former chairman, who still has an unsettled dispute with the company.
The railroad plans to keep operational changes such as reduced train starts and longer trains even as volumes rebound.
The truckload carriers have reported solid results to start second quarter earnings season, but some load data is still lagging.
Tightened capacity seen as a spur to both Heartland and Marten beating estimates, with optimism from analysts going forward The earnings reports of truckload carriers Heartland Express and Marten Transport […]
Better-than-expected performance across the board buoys Daimler prospects. Job cuts are a big part of the picture in a preview of second-quarter earnings.
Glum Volvo Group financial report follows layoffs of 4,100 white-collar workers in second quarter. Uncertainty means the pain may continue for some time.
The railroad experienced a 23% dip in revenue as carload volumes fell 21%.
J.B. Hunt easily bests consensus forecasts led by better-than-expected intermodal and dedicated results. The back half of 2020 remains hazy on COVID-19 fears.
Overall operating ratio improves on back of dedicated and truckload segment gains
J.B. Hunt Transport Services posts a solid second quarter, besting analysts’ forecast by 31 cents per share.
After delisting from the NYSE, Roadrunner Transportation Systems announces it will add three new less-than-truckload facilities this summer. The expansion is part of its re-organization focused on asset-light offerings.
Heartland’s expenses were up more than revenue so operating ratio rose. Cash stockpile rose and it has plenty of borrowing capability.
Uber is reported to be raising $500 million in funding for its brokerage segment. The deal would place a valuation of $4 billion on Uber Freight.
Delta Air Lines will retire more than 100 planes by year’s end, reducing the carrier’s available cargo capacity to some destinations after coronavirus passes.
Atlanta-based airline posted $3.9 billion pretax loss for the second quarter.
Forward Air is expanding again. The company plans to offer traditional less-than-truckload service for the first time.
Unlike Moody’s, agency increases a key rating by one notch, but two agencies are now about even
One rating is increased as long review by ratings agency is wrapped up
Deutsche Post DHL said preliminary second-quarter profits, despite the ongoing COVID-19 pandemic, have it less worried about the rest of the year.
LTL carrier spells out its debt relief with the $700 million of Treasury funds it is getting
Several other companies cited in overall bullish report
Deutsche Bank geofencing data shows the less-than-truckload recovery off of an April bottom spills into June.
Rail traffic continued to build through June. U.S. intermodal traffic was only off 5% year-over-year in week 26.
YRC’s $700 million loan from the Treasury Department raises concerns from industry experts about the survival of the company and whether the deal is worth it.
YRC gives the Treasury Department a 30% equity stake in exchange for a $700 million lifeline.
YRC Worldwide announces that it plans to receive a $700 million loan under the CARES Act.
FedEx Corp. had significant positives in its fourth-quarter earnings report released Tuesday, including much-better-than-expected earnings before interest and taxes.
FedEx Corp. posted a $334 million net loss for Q4 on Tuesday, but shares spiked on strong non-GAAP results.
Workhorse gets another shot in the arm with the announcement of a $70 million loan. Shares continue their hot streak, up more than 30% on the news.
Cash-rich Amazon continues to find ways to spread the money around, this time with a $500 million payment to its workers and partners.
Prologis seeks to sell the largest-ever warehouse portfolio in the U.K. The deal is reported to include 22 properties valued at more than $500 million.
Amazon has been linked to several large real estate transactions this week, including the lease of a 1 million-square-foot facility in New York.
No one is talking as YRC’s already extended healthcare benefits are nearing expiration. Coverage is set to expire in early July.
FedEx will see $370 million in noncash charges stemming from valuation declines in previously acquired operating units.
Flatbed carrier Daseke reported five weeks of volume improvement in its second quarter update. The carrier improved its liquidity position through the first two months of the quarter.
French 3PL FM Logistic reports strong organic growth in its recent fiscal year as European expansion progresses. The company didn’t issue annual guidance due to COVID-19 uncertainty.
Deutsche Bank analyst Amit Mehrotra favors a few transportation stocks as the second quarter comes to a close.
Worse-than-expected data from Cass shows year-over-year declines grew in shipments and expenditures. Intermodal pricing falls out of bed.
Debt rating for the company held steady by S&P and Moody’s, though S&P sees a more negative outlook
YRC Worldwide’s midquarter report was worse than that of its peers and adds to industry speculation that some shippers could be avoiding the carrier.
Daseke’s ratings were confirmed at recently downgraded levels by Moody’s. The report points to the company’s restructuring as a source for a potential ratings upgrade.
French carrier trumpets its resilience and agility during coronavirus crisis
Navistar included only one full month of impact from the COVID-19 pandemic in its loss-making second quarter. How bad will it be for manufacturers who report on a traditional April-June quarter?
ArcBest joins other less-than-truckload carriers seeing a May rebound from April lows. A 10% stock bump from a rating upgrade holds into the second trading session.
Heavy-duty truck maker Navistar reported a $38 million loss in its fiscal second quarter, the first look at the financial damage from COVID-19-related manufacturing shutdowns.
Cold storage consolidation remains hot. Lineage Logistics closes on Emergent Cold transaction, growing its already dominant global market share.
