Company Earnings

Action is based on used truck values

Less-than-truckload demand appears to have bounced off of an April bottom according to reports from carriers.

While less-than-truckload volumes may not have rebounded sequentially from April, one sell-side analyst sees acceleration in recent weeks as bullish for the industry.

Counterintuitively, a rise in book of business signals companies may have pulled down their revolving lines of credit

FedEx reported to be exploring alternative growth path in Europe through stake in German parcel company Hermes.

Net loss whittled from $24.3 million last year to $11.9 million in Q1 2020

Railroad volumes continue to drop. What might they do to increase volumes? Where are the volume increases going to come from?

Lineage Logistics continues its hot acquisition streak, entering into an agreement to purchase Henningsen Cold Storage and its 14 facilities.

Coronavirus hit to Brazilian exports is a nightmare scenario for dry bulk — and cases in Brazil are mounting fast.

Rates for ocean transport of propane could surge if the worst of the coronavirus crisis is past.

Canadian supply chain software provider posts a 51% increase in net income, but says it will reduce its global workforce by 5% in the face of economic uncertainty

The courier and less-than-truckload subsidiary of Canada’s postal carrier had a decent first quarter considering the impacts of COVID-19 and C$1 billion expansion of its network.

Expeditors International sees digital platform acquisition as key to advancing its less-than-truckload shipping platform.

Tanker owners increasingly point to upside to come after floating storage unloads.

Covenant Transportation Group provides an update on the ‘strategic plan,’ announced breakeven results in April during first quarter conference call.

Recent stabilization in truckload markets with a recovery expected later in the year were some of the takeaways from Wolfe Research’s investor conference.

Covenant Transportation Group sees a breakeven April and noted that May trends have “stabilized” as it moves forward with restructuring efforts.

The more sailings cancelled, the more risk to companies leasing container ships to carriers.

Airlines know 2020 will be financially bleak but are seeing some green shoots of customer activity as encouraging.

Walmart bested analyst expectations as grocery and household items drive comparison sales 10% higher and ecommerce accelerates 74%.

Travel bans, shelter-in-place orders and virtually no demand for rental cars created a domino effect that is hammering the auto industry amid the coronavirus pandemic.

European Commission scrutinizing financial incentives from South Korean government

German carrier is cutting costs and counting cash as the economic impact from the pandemic is expected to hit Q2 results.

Cervus Equipment’s Peterbilt dealerships had a strong first quarter, but the company says it expects COVID-19 will hit short-term demand.

Wabash National felt the COVID-19 pandemic in the first quarter, but the trailer maker said its earlier preparations for a softening market helped offset deeper trouble.

Taiwanese carrier among Asian container shipping lines criticized for government subsidies.

Americold Realty Trust will partner with grocery retailer to provide 500,000 square feet of frozen storage space in two new facilities.

April’s 20% year-over-year declines in Cass data may mark the bottom of the COVID-19 downturn.

The numbers are in – earnings for the quarter have been reported by all the trucking and other freight-related companies for the three months that ended March 31. And what […]

Titanium Transportation Group depends on no single customer for more than 6% of its business. That diversification is paying off during the COVID-19 pandemic.

World’s largest box carrier expects capacity cuts to mitigate volume downside.

Stifel’s David Ross announces that he is suspending his rating and estimates on YRC Worldwide and questions the company’s ability to survive.

Titanium Transportation Group reports 13.6% increase in revenue on the strength of its growing brokerage business in the United States and steady performance from trucking.

Japanese carrier tempers profitability news with financial concerns.

Daseke selects current flatbed head to lead operations amid a multi-year restructuring effort.

YRC beats expectations with the benefit of outsized gains on sales. Noting volumes were down 24% in April, management says it likely won’t satisfy debt covenants into 2021 and it opts out of questions on its call.

Agent-based 3PL had been looking for “tuck-in” opportunities.

The dry bulk market is getting hammered again — not a positive signal on the global economy.

Diamond S boss sees tanker-market “trough” on the horizon.

“Substantial” federal funding needed to maintain service, board chairman warns.

USA Truck continues to execute on its internal turnaround initiatives, but they have yet to bleed through and provide positive earnings results for the carrier.

Food supply chain warehouse operator Americold Realty Trust beats first-quarter forecasts, reiterates guidance and shakes off meat shortage concerns.

Meanwhile, Uber Eats had a bang-up pandemic-related quarter.

Management says “tough pricing environment” muted operational efficiency initiatives.

There’s still too much oil in the world and tankers are still filling up with the overflow.

As demand for flatbed capacity sags, Daseke sees strength in some end markets and continues to push forward with a company-wide overhaul.

The COVID-19 pandemic has created choppy conditions in the airfreight market, but air cargo companies like Atlas Air are mostly seeing upside for their business.

Excluding several items, Daseke reported a near break-even first quarter. Demand headwinds in most of the markets it serves have ‘plateaued’ in recent weeks.

It’s aggressively moving away from “perpetual” sales to subscriptions.

Are larger funds now heading for the exits and giving up on tanker stocks?

Interest is rising in Workhorse’s electric truck-based drone delivery system as the company seeks $40 million credit line to scale production.

Canadian e-commerce firm says Q1 saw the largest increase in merchants joining Shopify Fulfillment Network as $1 billion push into Amazon’s territory continues.

The Honolulu-based carrier has used some passenger airplanes to transport face masks from China, as well as food and medical supplies between islands.

ir Transport Services Group is making money from its aircraft leasing and outsourced transportation businesses as express carriers and other customers seek more aircraft to support supply chains.

Public tanker owners post impressive earnings on an ugly day for tanker stocks.

Alaska Air lost $232 million on a net basis in the first quarter, but everything is relative these days and the loss doesn’t look so bad given the state of the airline industry.

The same health crisis that made TravelCenters of America an essential business during the coronavirus pandemic burned into non-fuel revenue in late March, leading to a first-quarter loss.

Singapore-based container carrier digs out from $586 million fiscal-year loss to report $105 million profit and procures 5,000 40-foot units.

ArcBest managed through the first quarter largely unscathed by the coronavirus outbreak. That has all changed in April as revenue is off 20% year-over-year.

Kirby Corp pulls 2020 guidance but inland barge utilization is still strong at 90%.

ArcBest sees “one of the best first quarters” in company history, but COVID-19-related demand headwinds took a toll on April’s results.

XPO Logistics Inc. (NYSE: XPO) on Monday reported first-quarter revenue of $3.86 billion, down from $4.12 billion in the first quarter of 2019, as the COVID-19 pandemic in mid-March derailed […]

The railcar lessor is looking for further add-ons to its fleet as competitors face pressure from the COVID-19 pandemic and the volatile crude oil market.

Multimillion-dollar backlog will help the rail equipment and locomotive manufacturer stay afloat, executives said.

Air Canada is trying to navigate the darkest period in aviation history through cost cuts, financing and new cargo operations.

The COVID-19 pandemic dented volume growth in the first quarter for the privately owned railroad.

Volkswagen truck holding company Traton Group urges a Euro-style “cash for clunkers” program to boost new truck purchases following lower first-quarter sales, profits and orders.

United Airlines is steeling itself for a worst-case scenario that leisure and business travelers will not resume flying anytime soon, even with coronavirus restrictions lifted.

United Airlines isn’t sugar-coating the airline industry’s economic reality. United expects to survive the coronavirus crisis, but business will be slim for months to come.

Company reports 30% plunge in revenue during month, but CEO Tim Phillips hopes the resumption of auto and heavy truck plants will bring some relief this month.

Hub Group’s first quarter miss included several one-off expenses unlikely to recur. However, volume headwinds are expected to persist in the near-term.

Several steps being taken will affect the supply chain

ULH withdraws 2020 outlook and suspends dividends after slowdowns in retail and manufacturing weigh on first-quarter financial results.

From slashing salaries to borrowing money to get to the other side of the COVID-19 pandemic, suppliers Meritor and Dana are keeping electrification programs on track while slowly restarting production.

The drop in North American rail traffic could push railcar leasing rates lower.

Combined transportation and logistics powerhouse grows gross profit despite impact from COVID-19.

A better than expected first quarter yields to expectations that a recovery may not occur until June. Some of Schneider’s customers are starting up again, but demand in May will likely be choppy.

While others have seen a decline in shipments, April held firm: CEO

Orbcomm operates in transportation and distribution, heavy equipment, industrial fixed assets, oil and gas, maritime, mining, and government.

American is slashing expenses, but not fast enough to stop big profit losses. Here are the details on its first quarter and what it expects going forward.

Schneider reports TL volumes are down upper single-digit percentages in late April, but notes that some of its customers shutdown by COVID-19 are set to come back online.

Fewer brokers and more engineers make operating costs less flexible, and we question the “take market share” mantra.

Boeing took a big loss in the first quarter and the rest of the year doesn’t bode better for a company plagued by ongoing technical problems with key products, and now facing little demand for aircraft.

Regulatory credit sales and streamlined operations helped drive the electric vehicle maker to its third consecutive quarterly profit; CEO Elon Musk rages against the coronavirus lockdown

Uncertainty beyond loss-making second quarter concerns Daimler leaders, though robust supply chain and cash position suggest fast production ramp-up when economy recovers

The cuts to train starts are part of the railroad’s wider objective to implement precision scheduled railroading.

Accelerated depreciation it set at a “trough” level from 2002

Saia’s first quarter performance placed its recent terminal expansion campaign on full display. Unfortunately, COVID-19 headwinds will mask near-term results.

Like other railroads, Norfolk Southern is feeling the effect of lower rail volumes because of the coronavirus pandemic.

Saia’s multi-year terminal expansion project drives earnings results well ahead of expectations.

Favorable customer mix to make Werner’s truckload model a little more defensive through the downturn.

Werner believes its consumer-heavy shipper base will allow the company to ‘more effectively manage through’ the downturn.

NAST margins were squeezed to 13.19%.

Cummins saw a tough environment for most of its segments in 2020 before the word pandemic became common. Now it is depending on its collective experience in managing bad times to pull it through again.

Hong Kong-based shipping line says first-quarter volume was down less than half a percent despite pandemic.

UPS faces economic and other challenges in the wake of COVID-19.

Southwest Airlines is not used to losing money in any quarter or full year, but that will change in 2020.

The effect that the coronavirus pandemic is having on rail volumes could get worse in the coming weeks before things get better, according to executives.

Covenant continues to reshape the company in efforts to better focus on contract logistics and improve its financial structure.

Revenue and profits look bleak for second quarter, but leading engine maker Cummins surprised analysts with better-than-expected first-quarter revenue and profits.