Company Earnings

Tech solutions firm Trimble reported $154.9 million in first-quarter transportation revenue amid a softening freight market.

The softer markets in air and ocean freight are directly visible in Expeditors’ first-quarter earnings.

Canadian air cargo company Cargojet is searching under every rock for savings to maintain profit levels as shipping demand deteriorates.

The price of crude oil is now lower than it was when OPEC announced its latest cuts, fueling more concern on tanker demand.

Supply chain software provider e2open gave a bleak outlook in its earnings. Its stock took a pounding in response.

U.S. truck engine maker Cummins on Tuesday reported first-quarter revenue of $8.5 billion, boosted by strong global demand for its products.

Forward Air noted some optimism in its lowered outlook on Tuesday, saying recent customer conversations have been promising.

Uber Freight suffered along with the general freight market downturn and saw its first-quarter EBITDA sink yet again.

Two of the world’s largest third-party logistics providers consider the glass half-full despite a substantial drop in profits.

Truckload carrier Heartland Express missed first-quarter expectations.

Saia’s revenue trends in April are much better than its less-than-truckload peers.

Universal Logistics Holdings saw revenue declines in its trucking, brokerage and intermodal segments in the first quarter.

Sun Country is bucking the trend of express carriers flying fewer hours because of slow shipping volumes. Its Amazon fleet is busy as ever.

ArcBest on Friday stood by its strategy to take on lower-margin business.

Triumph Financial felt the soft freight market like everybody else, but its network of the future did show signs of improvement.

Hub Group had year-over-year revenue declines in its intermodal and logistics segments during the first quarter.

Amazon also issues higher second-quarter guidance.

Covenant’s biggest announcement in disclosing its first-quarter earnings is that it bought a large hauler of poultry-related freight.

Quarter after quarter, Paccar Inc. points to parts sales as driving its revenue and profits. Rush Enterprises deserves some of the credit.

Schneider National beat first-quarter expectations Thursday but lowered its full-year outlook as excess capacity lingers.

American Airlines joined its peers in posting lower cargo revenue for the first quarter from a year ago.

The partnerships with the two truck carriers for intermodal service will create new business opportunities for all three companies, CPKC officials said during the company’s first-quarter 2023 earnings call.

Gol Airlines in Brazil will have five all-cargo aircraft in its fleet by next month operating in a dedicated service for a large online retailer.

Freight broker Landstar System sees a big earnings falloff from the all-time high established a year ago.

Trailer maker Wabash reaped the benefits of its reorganization and long-term customer deals in the first quarter.

C.H. Robinson had a weak first quarter, as expected, and a new CEO should be in place by the end of the quarter, according to management.

Hawaiian Airlines faces more turbulent market conditions coming out of the pandemic than nearly any airline. On the bright side is a new charter contract with Amazon that will diversify the business.

Norfolk Southern is adjusting how it configures trains in response to the February East Palestine, Ohio, derailment. That will help the company improve productivity later this year, officials said during the railroad’s first-quarter 2023 earnings call Wednesday.

Like Volvo Group and Paccar Inc., which have already reported, Daimler Truck forecasts a stronger-than-expected first-quarter earnings report.

Link Logistics maintained high occupancy and rent growth in the first quarter.

Old Dominion said Wednesday that volumes have stagnated and some of its customers are pushing back on pricing.

Cargolux set financial records in 2022 but expects its air cargo business to decrease this year because of difficult operating conditions.

A weak U.S. consumer and a continued Asian downturn weigh on UPS. The macro environment is expected to remain challenged, CEO Carol Tomé says.

Not to be outdone by CPKC, CN said it is partnering with Union Pacific and Grupo México to provide a new, cross-continent intermodal service that will seek more truck-to-rail conversions.

Paccar Inc. crushed Q1 revenue and profit estimates, a quarter dampened by a $446 million hit related to European price-fixing settlements.

Pam Transportation saw first-quarter earnings fall as the truckload market searches for a bottom.

Service improvements at CSX come as headcount levels are at “a good number,” officials said during the company’s first-quarter 2022 earnings call.

Knight-Swift Transportation has recalibrated its 2023 outlook after posting an earnings miss to start the year.

Union Pacific’s earnings guidance for the year is based on the assumption that a recession won’t occur, officials said during the railroad’s first-quarter 2023 earnings call Thursday.

Volvo Group reported record sales and deliveries in the first quarter, projecting a positive note as the first truck manufacturer to release financials.

Truckload carrier Marten had a first quarter in which it drove more miles than last year but made less money.

United Airlines posted a quarterly loss and said cargo sales fell more than a third from a year ago, but was optimistic about strong travel demand the remainder of the year.

Logistics real estate operator Prologis believes headwinds facing the supply side will prop up occupancy and rents into 2024.

Warehouse operator Prologis reported first-quarter results in line with expectations Tuesday.

J.B. Hunt missed first-quarter expectations Monday as weak intermodal and trucking trends plagued the quarter.

J.B. Hunt Transport Services missed analyst expectations for the first quarter on Monday.

Delta Air Lines made less money from cargo during the first quarter than a year ago — or any quarter in between. Similar results are expected when other airlines report results.

Volvo posted unexpectedly strong preliminary sales and earnings in Q1, reversing a dour projection made just months ago. (Photo: Volvo Group)

First-quarter numbers from container lines Cosco, OOCL and Evergreen show lingering upside from the tail end of the boom.

Rail car manufacturer Greenbrier posted gains in its second fiscal quarter net income amid revenue increases for its manufacturing, maintenance and leasing business segments.

The trend in container shipping is summed up by the adage, “The higher you climb, the further you have to fall.”

Rail car manufacturer FreightCar America is eyeing opportunities to manufacture tank cars that would carry nonflammable materials should its competitors be busy manufacturing DOT-117 tank cars.

Radiant Logistics said Monday it has completed a financial restatement process that resulted in very minor changes.

The deal to sell itself to Knight-Swift ends a struggle at U.S. Xpress that lasted several years and included the failed Variant initiative.

In a first-quarter earnings preview, Deutsche Bank analyst Amit Mehrotra said he expects an in-line type quarter but voiced some concerns.

The FedEx Ground unit flexed its muscles in the third quarter with strong operating income and cost-reduction prowess.

FedEx Express is aggressively scaling back air operations to save money as shipping demand crumbles.

Tanker capacity for diesel is already tight amid war fallout. With very few ships on order, future transport capacity could fall short.

Volume weakness persists at FedEx, but cost reductions are acting as strong offsets.

Freight reservation aggregator Freightos issued its first earnings report as a public company. Reducing losses continues to be a challenge in a difficult economy.

IAG’s cargo division has convinced management to use larger passenger jets on some short-hop routes to capture more cargo business.

Shipping line Zim could face net losses in the quarters ahead, yet it has a hefty cash cushion to soften the blow.

Daimler Truck completed its first year as a stand-alone company with financial results meeting its targets.

German giant Deutsche Post DHL posted outsized gains in full-year operating income and said that performance will not repeat in 2023.

Forward Air said Tuesday that low-teens tonnage declines over the past few months have calmed in early March.

Germany’s Traton Group topped $42 billion in revenue for 2022 with Navistar contributing significantly to the top and bottom lines.

Cargojet is scrambling to balance its cost structure as the air cargo market softens by hitting the brakes on the acquisition of 777 freighters.

ArcBest’s first-quarter update bucks the less-than-truckload industry trend as tonnage increases and yields moderate.

Without Lufthansa Cargo’s strong results last year, the Lufthansa Group of airlines would have lost money.

The long-planned acquisition of a bigger stake in Pilot by Berkshire Hathaway has been completed, and new data is expected to emerge as a result.

Less-than-truckload carrier Old Dominion sees volumes drop again in February but notes the worst of it may be behind them.

Shipping lines like Hapag-Lloyd have suffered sharp rate falls from the peak, but they’re nowhere near financial distress.

Kuehne + Nagel had a highly profitable year in 2022 despite macroeconomic headwinds, but results fell considerably in the fourth quarter along with transport demand.

Less-than-truckload carrier Saia reported January and February tonnage declines that were in line with fourth-quarter declines when adjusting for weather.

Supply chain software provider Descartes sees retailers refilling shelves as 2023 progresses.

Workhorse Group is still cleaning up the mistakes of its recent past but is expressing optimism on 2023 production plans.

Hyliion Holdings is teaming up with financially struggling Hyzon Motors to develop a hydrogen-powered fuel cell version of its hybrid truck.

Charter rates are far below the peak but higher than pre-COVID as liners continue to sign new container-ship leases.

Quarterly figures for BMO, a major trucking lender, reveal some weakening of financial performance but not at a huge rate.

Larger crude tankers are moving more U.S. exports on shorter voyages to Europe as long-haul volumes to China stagnate.

Despite an increase in revenues for BNSF, higher fuel costs contributed to a softer operating income for the fourth quarter of 2022.

Air Transport Services Group says its leasing business is insulating it from a market downturn that is impacting its cargo airlines.

Nikola is still far from positive financial territory, but the integration of major components should help bring costs down.

Atlas Air took a profit cut in the fourth quarter, but comparisons with 2021 weren’t good because it was a record year financially.

Air Canada is investing heavily in its dedicated cargo operations at a time when freight rates are slumping.

Expeditors suffered a significant decline in fourth-quarter earnings as the air and ocean freight markets dropped sharply.

Ryder’s 2023 profitability forecast assumes lower numbers due to falling used truck prices.

There were ‘no surprises’ in GXO’s quarterly report, according to CFO Baris Oran.

Carrier Pam Transportation saw margin pressure in the fourth quarter as peak season didn’t materialize.

HMM acknowledged that “freight rates in most key trade lanes have been under downward pressure since H1 2022.”

Ocean carrier revenues fell sharply in the fourth quarter versus the third and continued sinking in January.

Radiant Logistics pushed back financial filings once again as it works to correct inaccurate timing of revenue and expenses in prior periods.

Less-than-truckload carrier Yellow reported another large decline in volume leading to a fourth-quarter loss.

The Postal Service is hit by higher costs, slowing package volumes.

XPO’s growth strategy includes a wider net for capturing volume, but the less-than-truckload carrier is adamant it will remain price disciplined.

Shares are trading down sharply after Forward Air reported shipping fewer pieces per shipment than expected in the fourth quarter.

FleetCor Technologies beat Wall Street quarterly revenue and earnings estimates and offers a positive outlook for 2023.

Transport company RXO, coming off a solid performance in its first quarter as a stand-alone entity, is “positioning ourselves for the inflection,” according to CEO Drew Wilkerson.

XPO takes share in the fourth quarter, posting adjusted earnings ahead of consensus.

Weak freight markets led to a fourth-quarter downturn at Uber Freight.