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Daseke lowers its full-year 2019 outlook citing worse than expected results in its flatbed division.
The beat comes after the company fell short of earnings expectations last quarter, coming in over 23 percent short of estimates.
U.S. production increased 21 percent year-over-year to 898,000 barrels/day.
As with product tanker rates, crude tanker rates show no sign yet of upside from IMO 2020 preparations.
U.S. Xpress sees a tough second quarter, but expects industry fundamentals to firm as excess capacity exits the market.
XPO Logistics posts flat second-quarter revenue, exceeds estimates on EPS, cash flow
It’s hard to see a structural recovery in natty gas prices.
Morgan Stanley, Susquehanna, and Deutsche Bank cut their price targets; Stifel maintained.
At 10:30 a.m., its price was down almost 16 percent.
Japans K-Line shipping company reported its fiscal first quarter earnings.
Schneider National sees “less favorable” trends continuing into the back half of 2019. The company lowered guidance and announced the closure of its First to Final Mile business.
Japanese shipping company NYK;s fiscal first quarter earnings are covered in this article.
An overview of Japanese shipping company MOLs fiscal first quarter earnings is covered in this article.
Oshkosh Corp. has a green light from the U.S. Army to enter full production of its Joint Tactical Light Vehicle that will replace the HUMVEE in war zones.
Ocean Network Express (ONE) expects slightly better profit this year than previously forecast as costs drop one year into its full operation. But overall demand remains tepid as it lowered […]
The company reported diluted earnings per share (EPS) of $0.53, $0.01 short of estimates and $0.02 higher than the second quarter of 2018.
IMO 2020-driven refining activity and tanker demand appears to be materializing slower than previously expected.
Jim Wilson reports on Hong Kong-listed dry bulk ocean shipping company Pacific Basin’s earnings.
Ceva Logistics posts weak first-half results, pressured by economic weakness, subpar airfreight volumes and loss of big ocean contract
Wabash National says it has $1.2 billion of trailers in its production backlog with cancellations at normal levels and demand robust.
The Class I railroads have reported their second quarter/first-half of 2019 results. Jim Blaze writes about what may happen during the remainder of 2019.
Hub Group believes “soft” intermodal volumes will begin to flatten out and that the 2019 peak shipping season will be similar to that of 2017.
CHRW grew net income by 6.3% but increasing earnings per share by 8% with buybacks.
ArcBest posted flat to down second quarter results as a weak LTL macro environment and too much truckload capacity hit its two main units.
The company attributed the revenue slip to pricing and volumes, especially on routes between Europe and Asia.
Hub Group sees record earnings despite a “softening demand environment” and “increased truckload and intermodal competition.”
Ryder Systems Inc. posted strong second-quarter revenue but reduced its second-half earnings guidance on weakness in used truck sales and rentals.
Freight revenue drops by 12.1 percent, led by a more than 20 percent plunge from airline’s Pacific routes.
Power management company Eaton Corp. reported higher second-quarter sales and earnings despite declines in its vehicle segment.
Eagle Bulk is finally in position to benefit from a rate recovery. It has been a long time coming for funds that invested back in 2013.
The Procter & Gamble Company (NYSE: PG) reported its strongest quarter of organic sales growth in over a decade.
Train products manufacturer and supplier Wabtec lowered its sales guidance for 2019 but kept its projections for how much profit it expects to make from its operations.
Traton SE crossed $1 billion in operating profit for the first six months of 2019 but expressed concern about slowing orders in the second half.
OOCL reported its second quarter 2019 earnings while also announcing that it was canceling several Asia-Europe sailings for a three-month period.
CEO Alain Bedard lauds “magic” of its American trucking business ability to shore up efficiency in challenging freight environment.
A softening freight market took a toll on Universal Logistics Holdings Inc. (NASDAQ: ULH), an asset-light provider of customized transportation and logistics solutions. The company reported second quarter 2019 net […]
Amazon’s q2 shipping costs soar as costs of one-day delivery launch exceed estimates
Denser shipments and higher prices combined for a 6.9 percent improvement in revenue per LTL shipment.
Werner’s second quarter was $0.01 light of consensus and the company lowered its pricing forecast for the rest of 2019.
Despite uncertain economic conditions, Trinity Industries (NYSE: TRN) expects rail volumes to improve in the second half of the year, based on “healthy” inquiry levels for its railcars, company leaders said during TRN’s second quarter earnings call on July 25.
Canadian transportation firm reports a 13 percent increase in net income, helped in part by improved performance from its U.S. truckload businesses.
Company’s best-in-class model will be tested as LTL conditions remain soft
BorgWarner sales and income declined in the second quarter but revised downward guidance for the rest of the year hammered shares.
The quarterly results of Costamare reveal continued rise in container-ship charter rates.
Kirby Corporation (NYSE: KEX) reported second quarter results that met consensus estimates, despite the ongoing problems for barging operations in the U.S. Midwest. But the company did lower its earnings […]
Old Dominion posts record q2 results as cost management offsets weak demand
After years on the transport mat, next day air flies off as UPS volume surges
Canadian transportation and oil services firm ready to make additional acquisitions to boost growth after strong second quarter results.
Landstar missed the bottom-end of its guidance range as expected. The company sees weakness in truckload fundamentals continuing through the third quarter.
Despite falling short, the electric automaker reaffirmed its full-year delivery guidance, saying it still expects to deliver 360,000 to 400,000 vehicles in 2019.
Total company revenue for Trinity Industries (NYSE: TRN) grew 16 percent to $736 million in the second quarter amid revenue gains for its rail product group.
Covenant released earnings results in-line with its previously lowered expectations as it seeks “predictability” in its operations for the remainder of 2019.
ECHO faced a tough quarter with soft spot volumes and unexpected tightness in June.
Norfolk Southern (NYSE: NSC) expects continued operational changes will help boost profits and lower operating ratios in the second half of the year.
Boeing (NYSE: BA) posted a core loss per share of $5.82 for the second quarter of 2019.
There is some uncertainty for commodities such as grain, lumber, coal and crude, but Canadian National (NYSE: CNI) leaders are “cautiously optimistic” about volumes and how the company might perform in the second half of the year.
Truck sales and profits were a bright spot in an overall dismal second quarter for Daimler AG, parent of Mercedes-Benz Cars and Daimler Trucks.
Norfolk Southern’s (NYSE: NSC) second quarter net profit rose slightly as the company prepared to launch the next phase in its new precision scheduled railroading (PSR) operating model. Net profit […]
U.S. next day air volumes set the pace for UPS’ second-quarter results
Manhattan Associates stock pops on an earnings beat and a guidance raise. Management brushed back concerns around tariffs, Brexit and other potential geo-political concerns as potential risks to its new targets.
Canadian National (NYSE: CNI) reported increases in net profit and revenue in the second quarter of 2019, with its acquisition of trucking and transportation provider TransX providing both higher revenue and costs.
PACCAR Inc. added to a string of beating analyst revenue estimates in the second quarter but fell 3 cents short on earnings per share consensus. PACCAR set records across the board in the period ending June 30.
Kuehne + Nagel (K + N) said it is cautiously optimistic on the outlook for the second half of 2019, but it will be a “tough ride in a tough […]
Rates for mid-sized bulkers including Kamsarmaxes and Ultramaxes are following Capesizes’ lead.
While investing in the North American railcar market is risky right now because the market is so uncertain, Europe and India are among the places where there are “attractive’ opportunities to invest in railcars, officials with railcar lessor GATX said on the company’s second quarter earnings call on July 17.
The railroad said second quarter revenue totaled $714 million, a 5 percent increase from $682 million for the same period in 2018.
The data on truck company failures is pointing to a rocky period for shutdowns, and the prospect of higher diesel prices isn’t going to help. That’s the message of Seth […]
“You’ve heard me say this many, many times – we’re not going to use the lack of volume as an excuse not to make aggressive achievements on our productivity,” Union Pacific chief financial officer Rob Knight said.
The clean balance sheet and deteriorating fundamentals in the TL space that could force some carriers to look for the exit begs the question, ‘will we see Heartland become acquisitive again?’
The railcar leasing company posted diluted earnings per share (EPS) of $1.86, up from $1.01 in the second quarter of 2018
Volvo Group posted record second-quarter sales and earnings but warned that production cuts are likely in the second half as a huge backlog of heavy-duty truck orders from 2018 shrinks in size. (Image: Volvo)
Panalpina’s worse than expected results appear to be largely due to the company being picked off by its competitors as its customers wait to see how the merger with DSV shakes out.
Union Pacific set an all-time record for its operating ratio in the second quarter despite lower freight volumes and a decline in freight revenue.
A five percent drop in licenses contributed to a modest disappointment, but management is excited about Qualtrics.
This is the fourth consecutive quarter IBM has reported falling revenues.
The combination of volume weakness, excess capacity, declining rates and formidable year-over-year earnings comparisons have resulted in the public carriers finally waving the white flag and acknowledging that 2019 will be a struggle.
Another shoe drops as the heart of truckload earnings season commences with Knight-Swift saying that it won’t meet analyst expectations.
“The present economic backdrop is one of the most puzzling I have experienced in my career..”
Despite a drop in profit in the second quarter, CSX’s (NYSE: CSX) operating ratio set a company record.
Canadian Pacific’s (NYSE: CP) is willing to cut costs in the second half of 2019 should macroeconomic factors put pressure on demand for rail service.
Canadian Pacific’s (NYSE: CP) second quarter net income rose 66 percent amid a 13 percent increase in company revenue, the railroad reported on July 15. CP’s financials are reported in Canadian dollars, except for earnings per share.
Jordan Alliger rated UPS, FedEx, and J.B. Hunt ‘Buy’; XPO and C.H. Robinson ‘Neutral’; and Expeditors ‘Sell.’
P.A.M. Transportation Services reported “best second quarter operating income on record”, but signaled future margins may be challenged.
Jim Blaze writes about earnings season for the railroads, and what investors, customers and employees should be looking and asking for in the railroads’ quarterly earnings reports.
Bascome Majors says contract rates will be under downward pressure for the rest of the year, but spot rates may have already turned up.
Daimler provides lower financial guidance for the second time in less than a month.
U.S. Xpress lowered its financial outlook for the second quarter 2019 as well as the full year.
Although volumes are down across modes, rails don’t need top-line growth to improve cash flows.
Hope springs eternal for shipping stocks. Some analysts claim now is finally the time to jump back in.
This morning (July 8) Morgan Stanley’s transports equities analysts cut their 12-month price targets for most of the companies they cover, but said that following the release of second quarter […]
GBX management explains soft guidance and provides outlook for sequential earnings improvement.
Daimler AG announced a “high-three digit million” hit to second quarter 2019 earnings related to ongoing expenses to remedy its diesel emissions woes.
Although some Chinese economic indicators are flashing warning signals, Yunda, STO, YTO, and ZTO are still on fire.
Forward Air Corp. lowered its second quarter 2019 earnings expectation due to a $5 million accident claim reserve recorded in the quarter.
Eroding fundamentals in the truckload carrier market have led analysts to lower their earnings estimates for the carriers they cover.
The negative data and commentary centered on the lack of a seasonal increase in demand is forcing analysts to meaningfully lower earnings estimates and the outlook for the sector.
A major developer of, and financial investor in, Asia Pacific logistics parks has launched a potential US$1.24 billion initial public offer on the Hong Kong stock exchange.
Switch to long-term coverage that began in 2016 continues to pay off in 2019.
Investor concerns are intensifying over the fate of George Prokopiou’s publicly listed LNG partnership.
Saia’s interim report also showed a slowdown in LTL activity.
