Although customers may have pulled back from ordering in the third quarter, that pullback is temporary and customers will still need new railcars eventually, FreightCar America executives said during Monday’s third-quarter earnings call.
One of the three new investors, D1, already has significant investments in logistics.
Rates expected to remain strong into 2022, fallout from new ship deliveries in 2023-2024 to be muted.
Also on the podcast: Why banning oil exports would have no impact on prices.
Crude and product tankers may be totally different markets, but 2021 proved how connected they are.
Berkshire Grey’s revenue was up 750% year-over-year, but it still missed on analyst expectations, more than tripled its net loss and more than doubled its adjusted-EBITDA loss.
Embark Trucks rings the Nasdaq bell to begin public trading Thursday, but early share redemptions in its SPAC merger cut proceeds by $300 million.
Parts shortages delay winter testing of Hyliion’s Hypertruck ERX while Cummins’ competition casts doubt on the future of the startup’s current Hybrid eX.
Cross-border trucking and logistics firm Titanium is negotiating higher rates with customers as inflation puts pressure on margins. “Nobody is shocked,” COO Marilyn Daniel says.
Autonomous trucking software developer Kodiak Robotics raises $125 million in new capital after passing on going public via SPAC.
Third-party logistics provider Radiant Logistics again posted record quarterly results on Tuesday. On a call with analysts and investors, company officials called out strength in virtually every segment Radiant serves.
Domestic headwinds were balanced out by an international expansion as DoorDash stock popped 10% in post-market trading.
Less-than-truckload carriers report strong October results. But one analyst questions if the stocks have run too far ahead of results.
Truckload carriers booked record gains on the sale of revenue equipment during the third quarter but the profits shouldn’t be viewed as artificial earnings.
BNSF’s third-quarter net income rose 14%, to $1.5 billion, despite supply chain disruptions.
EBITDA at the digital brokerage remains in the red, but it is getting closer to breakeven.
“Meeting customers where they need us most has been a relentless focus of the team since inception,” says the co-founder and CEO of Bolt Logistics.
As public trading nears this week, 26-year-old Embark Trucks co-founders Alex Rodrigues and Brandon Moak focus on lean autonomous trucking.
Q3 2021 marked the first adjusted EBITDA-profitable quarter in Uber’s publicly traded history and the second in a row for Lyft.
Warehouse and third-party logistics operator Warehouse Services Inc. has acquired Total Logistics Inc.
ATSG is hitting on all cylinders with its aircraft leasing and cargo airline units, as third quarter results demonstrate.
The road ahead looks brighter than ever for the ride-hailing giant after posting an adjusted-EBITDA profit of $8 million.
Crude-tanker owners continue to pile up huge losses, but hopes are high for next year.
Square posted a 45% increase in revenue, but lower-than-expected bitcoin revenue dampened analysts’ enthusiasm for the Q3 results.
The company expects record 2021 earnings and boosts its 2023 bottom line forecast by $700 million, to $9.24 billion.
Editor’s Note: Updates with closing stock price Nikola Corp. set aside $125 million to potentially settle a Securities and Exchange Commission complaint but will seek to get indicted founder Trevor […]
Wayfair stock is down in the early hours of trading on Thursday after a lackluster quarter.
Trimble Inc.’s third-quarter revenue and adjusted earnings per share topped analyst expectations in a challenging supply chain environment.
Fleetcor’s third-quarter adjusted earnings per share grew 26% year-over-year, while new sales bookings grew 52% in the same period.
Yellow Corp. rode a hot freight market and an internal overhaul to positive net income for the first time in several quarters.
The company’s first reporting quarter post-spinoff could have gone better.
“The deluge of information can lead to processing delays, false detections and erroneous alarms. All this processing noise is what leads lidar systems to behave like distracted drivers,” said Spartan Radar’s founder and CEO on competing technology.
Forward Air announced the acquisition of two Minnesota-based intermodal transportation outfits on Wednesday.
Air Canada Cargo has been a strong pandemic performer, but the passenger side of the business is finally beginning to recover.
After becoming adjusted EBITDA-profitable for the first time ever in Q2 2021, Lyft keeps it rolling with another solid quarter.
Company plans to double LTL trailer capacity and add 900 dock doors.
Engine maker Cummins reduces its outlook for the full year amid the supply-constrained inability to meet elevated demands.
Despite beating the Wall Street consensus, Expeditors’ stock declined.
ArcBest reported record quarterly results on Tuesday, and management sees the possibility of incremental improvement moving forward.
“The investments we’ve made to date are paying off. As global supply chains continue to be disrupted, this is creating opportunities for us to become even faster, more agile and more efficient,” said an American Eagle executive in a recent earnings call.
“Noregon has a lot of different opportunities available to us and we could take the company 100 different ways right now. What direction to take is something we feel like the Hearst management team can help us with,” said the founder and CEO of Noregon.
ArcBest posted record quarterly results for the third time this year on Tuesday. Each of its segments reported double-digit top-line growth.
Maersk expands air business after earning more in a single quarter than in any prior full year.
TA’s diesel sales figures are a strong indicator of demand for the fuel, and they suggest that the third quarter wasn’t that much stronger than the second.
ArcBest announced Monday that it has closed on the previously announced acquisition of Chicago-based truckload brokerage MoLo Solutions.
The company beats earnings per-share consensus, and posts revenue gains while hiking its full-year outlook.
Underneath the supply chain disruptions and the chip shortage are customers that need Wabtec’s components to improve their rail operations, executives said during the third-quarter earnings call.
Arkansas-based carrier’s trucking segment posted revenue of $113M and brokerage division posted revenue of $81M in Q3.
Universal Logistics misses third-quarter expectations and said it will look to its customers to address wage inflation and accessorial charges at the ports.
In its last quarter as part of Daimler AG, Daimler Truck reported higher unit sales but lower revenue.
TFI International plans to shut down four terminals at the former UPS Freight operation and the CEO signals more to come as the company targets costs.
Both reports see debt levels rising initially but with a steady move toward a more reasonable level of coverage.
Inventory restocking and demand for domestic intermodal service will support Hub Group into next year, executives said.
Notable cost headwinds around driver sourcing and equipment downtime weighed heavily on Werner Enterprises’ third-quarter results. But the carrier still raised long-term margin expectations.
Both companies see their financial results weighed down by higher labor costs and operational disruptions due to staffing shortages.
TFI International fails to replicate early herculean improvement at ex-UPS Freight as operating ratio weakens slightly in record third-quarter financial results.
CEO Jassy says Amazon faces billions of dollars in additional costs during the fourth quarter.
Forward Air took an aggressive step Thursday, issuing sizable earnings growth guidance through 2023. Upgrading the freight mix has management confident in the extended outlook.
The CEO of Canada trucking giant Mullen Group says the cost of freight in the country is set to press upward amid high demand, tight capacity and the end of wage subsidies.
The CEO of North America’s largest privately held LTL carrier makes a passive investment in the digital freight-matching firm.
Management from Schneider National told analysts on its third-quarter earnings call that current truckload fundamentals should carry through the end of 2021 and well into next year.
The LTL carrier plans on opening 10 to 15 terminals in 2022.
Traton Group is optimistic for future quarters as it posts solid nine-month results with recently acquired Navistar included for the first time.
Although macroeconomic factors and lower train speeds support railcar leasing, the growth trend might be choppy as the COVID-19 pandemic and supply chain disruptions still weigh on the market, Trinity Industries and GATX said during their third-quarter 2021 earnings calls.
Shopify reported 46% revenue growth but failed to impress investors as it missed Q3 expectations.
A little more than a year ago, Ryder was dealing with too many used vehicles to sell. It is well past that now.
Old Dominion expects the costs of growing at such a fast pace will linger for a while. The company beat third-quarter estimates and doubled down on its share-taking strategy.
Used vehicle sales at the company were strong again.
Company shoots out the lights in the third quarter with soaring profits and EPS.
Biesterfeld expects the capacity-constrained environment to continue.
Freight broker Echo Global Logistics reports better-than-expected third-quarter results in what is likely its last public quarterly report.
Paccar made up for the loss of 7,000 deliveries in Q3 through record parts profits and higher prices for used trucks.
UPS boosts its 2021 operating margin guidance to 13%.
Specialized and flatbed carrier Daseke posted better-than-expected third-quarter results Friday. Management said the company is working on a couple of acquisitions.
Triumph Bancorp CEO Graft revealed the numbers on the new factoring and brokerage companies that have signed up to the processing platform whose capabilities were bolstered earlier this year with the acquisition of HubTran.
Union Pacific could’ve handled more intermodal volume in the third quarter were it not for longer chassis dwell times and a shortage of dray drivers, executives said during the company’s earnings call.
Sequentially, tractor growth is positive for the first time in more than a year, a sign the company cites as evidence the Variant initiative is succeeding.
Covenant Logistics Group’s managed freight segment revenue grew 89% year-over-year during the third quarter, to $90 million.
CSX has been aggressively pursuing new employees in order to meet network capacity needs, executives said during the company’s third-quarter earnings call.
American Airlines is riding the cargo wave, like its competitors, but a challenging passenger environment is holding back its financial performance.
Landstar reports record third-quarter results and calls for a similar performance in the fourth and potentially beyond.
Slowdowns and stoppages likely to continue as supply chain disruptions plague heavy-duty truck production.
It’s an upside-down world when an airline makes more money flying less cargo than it did two years ago.
Chattanooga-based Covenant benefited from an exceptionally strong freight market resulting from growing economic activity, low inventories and supply chain disruptions.
The railway is working with customers and steamship lines to find opportunities to divert traffic from Los Angeles and Long Beach, executives said during CP’s third-quarter 2021 earnings call.
A look at how Knight-Swift Transportation blew past third-quarter expectations and raised its full-year guidance.
In a quarterly earnings call, outgoing CEO JJ Ruest insists CN’s board of directors will conduct an extensive search for his successor. An activist investor is seeking to install its own CEO choice.
U.S. Bank’s Spend Index does include the price of fuel, which has helped to drive it higher.
“Flock Freight is the only company that offers guaranteed hubless shared truckload service, and this additional investment adds more fuel to our sustained triple-digit growth,” said Oren Zaslansky, CEO and founder of Flock Freight.
With other truckload carriers coming in at a sub-80% OR, Marten’s ratio for truckload improved just 40 bps.
The railroad won’t give new guidance because of uncertainties surrounding chip shortages and events in Mexico creating limited visibility.
Carriers have overcome notable cost inflation and disruption to post better-than-expected results so far in the third-quarter earnings season.
Shares of J.B. Hunt Transport Services jumped 10% Friday as the company navigated supply chain challenges during the third quarter to beat analysts’ forecasts.
Stockholm-based TrusTrace plans to use the capital to expand globally, enhance product development and “continue leveraging cutting-edge technology and the best minds in the industry to achieve positive, restorative change for people and the planet,” said Shameek Ghosh, CEO and co-founder.
J.B. Hunt Transport Services sidesteps disruption throughout the transportation network to beat analysts’ forecasts.
With business booming, the logistics warehouse titan reports better-than-expected results and raises full-year estimates.
P.A.M. Transportation Services sees earnings surge during the third quarter even as supply chain disruption accelerates.
Heartland Express beats expectations in the third quarter with the help from gains on sale.
Vendorflow has attracted investment from industry leaders with project44, Flock Freight, Best Bay Logistics and NEXT Trucking.
Delta Air Lines’ recovery from the pandemic hit a high note in the third quarter.
