Company Earnings

Forward Air management guided for negative EPS growth in the fourth quarter.

Correction: The story has been updated with correct figures for cargo revenue. The original story said cargo revenue increased 9% to $60 million, but that line item covers cargo and […]

General Motors strike, a personal injury lawsuit and soft freight market drive across- the-board losses.

Werner Enterprises Inc. reported net income of $39 million, or $0.56 per share, for the third quarter in 2019.

Canadian and U.S. trucking units continue to squeeze revenue and profits from uneven freight market as LTL and last-mile deliver uneven performance.

Amazon.com. Inc. (NASDAQ:AMZN) late Thursday reported third-quarter revenue of $70 billion, a 24% increase over the same period in 2018, as well as a 46% surge in worldwide shipping costs […]

Trinity Industries Inc. (NASDAQ: TRN) reported third-quarter net income of $49 million and earnings per share (EPS) of $0.39, compared to net income of $27.9 million, and EPS of $0.19 […]

The container leasing company Triton International said it had “solid” financial performance in the third quarter despite weak leasing demand since last fall.

Updated at 3:15 p.m. EST. Earnings call adds. Cargo business fell during a challenging third quarter for American Airlines [NASDAQ: AAL], which faced operational disruptions and higher costs from labor […]

Top shipping execs reveal the inside story of the recent crude-tanker rate maelstrom.

Daimler AG reported high sales and earnings in the third quarter but is cautioning that tougher times lie ahead for its Mercedes-Benz car and Daimler Trucks businesses.

Old Dominion posts first year-on-year revenue drop in 3 years as macro weakness hits home

Container ship lessor says charter rates on larger vessels is improving as supply falls.

Broadford Global has made a mandatory unconditional offer for all the H shares in the dual-listed Dalian Port Co. (HKEX: 2880 and SSE: 601880) of Liaoning Province, China.

Murray Mullen suggests freight market weakness could take carriers out of business, but says his company is ready to jump on acquisition opportunities to grow its less-than-truckload business.

Stock soars after the electric vehicle maker posts better than expected Q3 results.

Rush Enterprises Inc., the largest dealer network of commercial vehicles in North America, reported lower earnings and higher sales in the third quarter. But the company warned that a glut of used trucks is causing faster-than-normal depreciation and is hurting sales.

The company warned of its upcoming poor performance in September but still missed analyst’s earnings estimates.

In a tough freight environment, the Chicago brokerage outpaced Wall Street’s expectations.

The railway also earned record third-quarter revenue.

Intermodal was a particularly weak spot; OR at Swift a concern to Deutsche

Updated 6:32 p.m. Aircraft maker Boeing [NYSE: BA] is reporting sharply lower earnings for its fiscal third quarter as the company deals with the grounding of its new 737 MAX […]

Scorpio Bulkers plans to continue to monetize its position in related-party Scorpio Tankers.

Further operational efficiencies will push the railroad to its target, the company said.

Toy maker Hasbro reported lower third-quarter earnings, citing tariffs on Chinese products and higher supply chain costs.

Covenant blames weak freight environment for drop in revenue and net income in third quarter 2019.

Despite lowering its operating ratio, the railroad tempers its 2019 outlook.

The abrupt retirement of Jim Barber, UPS’ CEO heir-apparent, overshadows company’s third-quarter results

Paccar Inc. delivered 31,000 trucks in the third quarter, helping the parent company of Kenworth Truck Co. , Peterbilt Motor Co. and DAF beat earnings estimates.

The rail equipment manufacturer sees high utilization rate but says economy faces uncertainty.

Better fuel prices, capacity and cost management help push up results for worlds largest ocean carrier.

SAP now appears to be emphasizing profitability and widening cloud gross margins over organic revenue growth.

The last couple of days took a dramatic turn with U.S. short seller J Capital making explosive allegations that global logistics software behemoth, WiseTech – a A$9 billion (US$6.2 billion) company, has been seriously misleading investors. WiseTech has robustly denied these claims. In other news: CTI Logistics annual results; truck rest stops “desperately needed”.

Company eyes cross-border volume growth and efficiency improvements.

Swedish truck maker AB Volvo reported higher third-quarter profits and sales on Friday, October 18. But it warned that orders for new trucks in North America and Europe continue to decline and a strike at its Mack Trucks unit could pinch profits depending on how long it lasts.

Story updated at 5:01 p.m. to reflect correction for passenger costs. United Airlines [NASDAQ: UAL] expects to drive down growth in operating expenses starting next year by replacing smaller aircraft […]

Rationalizing additional network assets is still a possibility in 2020.

Despite revenue miss. IBM continued over two straight years of earnings beats.

The eastern U.S. railroad declined to share its expectations for 2020 but said it would be prepared should rail volumes rebound.

J.B. Hunt Transport Services reports earnings light of expectations, but cost headwinds from digital platform transformation appear to be the primary culprits.

This story was updated at 7:40 p.m. EST, 10/16/19. Correction also made for percent drop in Delta’s cargo revenue. United Airlines [NASDAQ: UAL] reported cargo revenue dipped 4.7% to $282 […]

P.A.M. Transportation Services calls out GM strike as the primary reason the carrier failed to meet earnings expectations.

Knight-Swift Transportation lowered its third and fourth quarter 2019 guidance amid intermodal and truckload woes. However, some analysts find this as a reason to celebrate.

Earnings estimates continue to be cut by equity analysts, however their outlook for the stocks is positive.

Updated: 3:41 p.m. Correction: Cargo revenue dropped 17%. Representing $37 million less, not 37% drop. Delta Air Lines’ cargo revenue dropped 17% to $189 million in the third quarter and […]

With U.S. rail volumes slumping in the third quarter, can PSR soften that blow to the rail’s bottom line?

American Airlines [NYSE: AAL]said it expects to begin phasing in the Boeing 737 MAX into service by mid-January, nearly nine months after aviation authorities grounded the plane for safety reasons. […]

Third quarter 2019 is likely to see another step down in earnings expectations for the year. Equity analysts have been busy lowering estimates on many publicly traded transportation companies.

FedEx posts lousy fiscal q1 results but insists that the long-term outlook remains bright

Radiant Logistics, reported several records for fiscal 2019, but the company would most like to make an acquisition or two.

Two of the nation’s largest truckload carriers said they are seeing green shoots in freight demand.

YRC Worldwide announces new debt financing agreement. The latest step in it’s latest restructuring.

The bulls are coming out in support of truckload carriers, kind of. Several equity analysts are using a recent positive inflection in TL volumes, a belief that fundamentals aren’t getting materially worse, and attractive valuation multiples to become more positive on the stocks.

CMA CGM expects an even better second half to the year following its acquisition of CEVA Logistics.

Daseke eliminates the role of president as it increases and accelerates its cost savings initiatives. The company will continue to search for a new CEO and begin looking for a new CFO.

With rail traffic lower year-over-year and PSR initiatives in full swing, it’s understandable that soft railcar demand attracted attention at an investor conference.

Old Dominion, ArcBest report sluggish monthly

Companies like Safe Bulkers are booking their ships at considerably higher rates, yet investor interest remains muted.

Navistar International Corp. blew past revenue and earnings estimates for its third fiscal quarter. It is reducing production but expects to gain market share in a softening market.

Third largest carrier reports rebound in results, partially thanks to rates and partially to subsidies.

COSCO Shipping Ports (HKEX: 1199)  reported higher revenue and volumes for the first half of the year. But the spin-off of a stake in one of its port assets and […]

Editor’s note: This story was updated to reflect that the company’s CEO says he is working to bring drivers home. HVH transportation, a 344-unit trucking company, has abruptly shut down. […]

Australia Post, a government-owned post and freight service, has reported revenues of just under A$7 billion but has experienced a massive fall in profits.

Heartland Express once again uses its strong financial position to acquire. The carrier has a pattern of building cash balances and finding accretive tuck-in deals.

Rates manage to outperform volume drops as carrier swings to profit.

But good news for the trucking sector: the assets stick around and activity continues

The vast majority of Aussie truck drivers are either fat or obese and they have a terrible diets, new research has found. Meanwhile, New Zealanders fund electric vehicles and Aussie trailer maker reveals a shocker set of financial results.

Trucking, freight and international forwarding business TIL Logistics (NZX: TLL) of New Zealand has reported solid revenues of NZ$355.1 million (US$226.94) and a small net profit after tax of NZD$4 million (US$2.56 million).

Qantas announces a test program to fly nonstop from New York and London to Sydney. This long-haul flight may also present cargo opportunities.

Integrated bulk, rail, trucking, box, warehousing and ports operator, Qube (ASX: QUB), has announced weighty full year earnings of A$1.73 billion (US$1.5 billion). It also made net profit after tax of 15. 4 percent to A$123.2 million. But it sees a subdued economy ahead…

ZIM, which has entered into space-sharing agreements with Maersk and MSC, says it plans to “double down” on efforts to grow with its partners.

Cathay Pacific expects “a much more significant impact” to revenue in August as recent unrest in Hong Kong will likely weigh on its financial results.

Target provides an optimistic shot in the arm as the mega-retailer reports a strong quarterly performance and raises its full-year outlook.

WiseTech (ASX:WTC), a global provider of advanced logistics software, has reported a whopping 57 percent growth in revenues and a massive 37 percent net profit after tax for its full 2018-2019 financial year. Revenues generated in the last financial year stood at A$348.3 million and net profits were $54.1 million.

Logistics provider LBC Express (PSE: LBC) of Manila, the Philippines, has reported a massive rise in revenues in the second quarter of 2019 but a big slump in net profit after tax.

Global logistics provider Agility (DFM: AGLTY) reported a 20 percent increase in net profit for the second quarter of 2019. Agility reported a more modest rise in revenues.

As the world’s largest retailer, the company is often seen as a bellwether for the overall retail landscape.

Avianca continues to dispose of aircraft during its financial restructuring.

Golden Ocean could be a trendsetter, buying a stake in a marine-fuel operation to offset IMO 2020 price and availability risks.

The CEO of Maersk says the impact from the U.S.-China tariffs and trade tensions on global trade has been quite manageable.”

Earlier today in Europe, Danish shipping giant A.P. Moller–Maersk (NASDAQ: Maersk A; NASDAQ: Maersk B) reported a massive increase in second quarter profit and earnings before interest, tax, depreciation and amortization. Revenues “grew slightly,” the shipping mega-conglomerate said.

Transportation and logistics firm plans additional brokerage offices in the United States, while CEO suggests a willingness to make an asset-based acquisition.

Evergreen Marine reports a second quarter profit and says it will add 23,000 TEU ultra-large containerships to its fleet.

Hyundai Merchant Marine, South Korea’s largest container carrier, said it had a smaller loss in the second quarter this year than in the same period in 2018.

Canadian transportation firm posts a 19 percent drop in revenue on tougher freight market on both sides of the border.

Japanese gas explorer, prospector and transporter INPEX (JPX: 1605), which is listed on the Tokyo Stock Exchange, announced a solid upswing in revenues, operating income and net income.

Americold Realty Trust sees favorable refrigerated warehouse supply and demand dynamics continuing.

If YRC Worldwide, Inc.’s (NASDAQ:YRCW) second-quarter results could talk, they would tell investors and shippers to give them the benefit of the doubt. But after a disappointing quarter, an equity […]

Parking and technology will both be featured on this weekend’s edition of FreightWaves Radio on SiriusXM Road Dog Trucking.  Co-hosts John Kingston and Timothy Dooner will be joined by Sarah […]

Continued weakness from its Canadian Peterbilt dealerships adds to steep decline in Alberta company’s agricultural equipment business.

Uber’s second quarter as a public company saw a loss much worse than the consensus estimate. Revenue increased significantly at Uber Freight, so did the losses.

Old Dominion reported continued LTL volume weakness in July. Near-term volume relief may be hard to come by as domestic and global macroeconomic trends remain tepid.

Matson, the largest U.S. domestic container carrier, said it is lowering its operating income projection for 2019, citing lower container volumes to Hawaii.

The Complete Vehicles segment grew sales by 40.7 percent and widened its EBIT margin.

The owner of BNSF and the investor behind Uber have more in common than it seems.

Genesee and Wyoming sees second-quarter operating income decline amid lower freight revenues from its Australian and European operations and flat year-over-year revenue from its North American operations.

Lyft reported revenue well ahead of estimates and commented that continued improvement in market conditions, which may mean lower rider discounts and an easing competitive landscape, prompted the improvement in guidance.

Seaspan says high demand for containerships has shielded it from the U.S.-China trade war.

Cathay Pacific is the latest in a string of airlines to cite trade tensions as the reason for plummeting cargo segments.

Hapag-Lloyd says it outlook for the second half of 2019 is unchanged even if it has to deal with more trade restrictions.