YRC Worldwide announced that it has accessed the first $75 million of the second tranche of the CARES Act loan it received in July. These funds are to be allocated for upgrades to the fleet.
Flatbed carrier Daseke Inc. cruises past third-quarter forecasts. Operations are likely to improve again in 2021 but high-margin third-quarter project freight could create some tough comparisons.
Ocean Network Express is cautious in its full-year forecast as “future cargo demand is very uncertain” while the COVID-19 pandemic wages on.
Universal Logistics credits its turnaround to the resurgence of the North American automotive industry, particularly in the light-truck and SUV markets.
USA Truck’s third-quarter performance was something management had been foreshadowing for the last few quarters. They were adamant that earnings would improve if the market would cooperate.
CFO Col: ‘We’re not upset when we have to use it’
Several key metrics in LTL operations show downturn from last year
Flatbed carrier Daseke Inc. posted a third-quarter result that highlighted the company’s restructuring efforts and easily surpassed analysts’ expectations.
Olsavsky says transport spending is in a multiyear ramp-up as the company posts solid third-quarter results.
Hub Group sees a strong demand environment continuing as most of its customers are operating with lean inventories. The company expects tight freight fundamentals to create a favorable rate environment in 2021.
Air Transport Services Group’s freighter leases offset financial losses from its grounded passenger planes.
Universal Logistics reported revenue of $365 million during the third-quarter, a 2.8% decrease compared to the same period last year.
Sales of used vehicles set a record, up by two-thirds from a year ago and 40% sequentially
The e-commerce retail and logistics giant’s bottom line is healthier than ever.
The strength in truckload fundamentals didn’t really show in Schneider National’s third-quarter report. Lower revenue per truck, intermodal rail congestion and brokerage malaise overshadowed the announcement of a $2 special dividend.
Wex said global uncertainty around COVID-19 affected its fuel card payment processing and corporate travel segments during the third quarter.
The future for the Shopify Fulfillment Network could involve highly automated warehouses with robots in different parts of the world, says CEO Tobi Lutke.
Operating income up 21.7% while revenue up just 2.7%; performance far better than Wall Street forecasts
Schneider National announces a $2 special dividend answering the mounting questions around the carrier’s future cash deployment. After the $355 million payment, the company still has ample cash to pursue other initiatives.
Kirby tops earnings expectations on lower costs despite COVID and hurricane hits to demand.
Danish third-party logistics services provider’s bottom-line benefits from easing COVID-19 during summer months.
Canadian e-commerce company Shopify grows profits and revenue in third quarter as COVID-19 accelerates move from mortar to online shopping.
Prologis Inc. announces the completion of the largest-ever portfolio sale of logistics warehouses in the U.K.
Werner Enterprises sees the current tightness in the truck market continuing into 2021 as inventory restocking will take multiple quarters to accomplish and drivers are in short supply.
The railroad will be idling rail yards around Atlanta and will cease humping operations at its Macon, Georgia, yard.
In third-quarter 2020 financial and operational results released after trading ended on Wednesday afternoon, Chicago-based third-party logistics provider Echo Global Logistics (NASDAQ: ECHO) reported record gross revenues, which grew by […]
Werner Enterprises’ third-quarter result comes in ahead of analysts’ forecasts.
Higher U.S. operating costs take center stage in discussion of company’s outlook.
Orbcomm Inc. reported a loss of $5.5M in its third quarter and a net loss of $0.07 per share. The company had revenue of $61.7M for the quarter.
In quarterly earnings report, company reports decline in revenue but big jump in net income
A new report from Prologis shows potential for a “critical shortage” of logistics real estate by early 2021.
The Eastern U.S. railroad reported an adjusted net income of $643 million in the third quarter of 2020, compared with $657 million a year ago.
Revenue climbs to more than $21 billion, a near 16% gain.
Revenue and earnings beat estimates; improved OR might not stick but there are broader goals at the company
Managing for yield, Robinson shuns truckload volume growth to take a double-digit price increase.
Airlines have cut costs to the bone to survive the COVID pandemic. Shrinking the bone — maintenance, airport fees, labor and aircraft rent — is more difficult.
Less-than-truckload carrier Old Dominion looks to build on its record third-quarter operating ratio in what it expects will be a “robust” 2021.
Less-than-truckload (LTL) carrier Old Dominion sets a new operating record on its way to a 19-cents–per-share third-quarter earnings beat.
Company had forecast an OR in the low 90s and got there; tractors reduced but Parker says it’s part of the plan
Deutsche Bank’s geofencing data shows less-than-truckload terminal activity at XPO accelerated during the third quarter while other carriers saw moderation.
Hong Kong-based container carrier moves 1.94 million TEUs during the third quarter of 2020.
The railcar manufacturer sees mid-2021 as a possible time frame for a post-coronavirus economic recovery for the rail industry.
The railcar lessor has developed a new strategy that will focus on providing rail-related services and products as part of a broader effort to boost its profitability.
UP expects longer and heavier trains in its future as it seeks to take more intermodal market share away from trucks.
OR improved for the company; on analyst call, Fuller says there will be bumps in the road on the way to a new operating model.
Valuations are high and going higher heading into 2021, experts say at Armstrong conference.
Supply chain solutions technology provider Manhattan Associates sees favorable long-term tailwinds as multichannel retail delivery expands.
TFI International reports a large jump in Q3 profits as strong performance from e-commerce heavy-logistics business and wage subsidies make up for weakness in truckload and LTL.
Q3 performance contrasts with loss in corresponding quarter last year
American Airlines achieved a $77 million quarter-over-quarter gain in cargo revenue thanks to stepped-up cargo operations and favorable market rates.
The company is also eyeing opportunities to develop its real estate offerings and will bring on more assets to handle additional volumes, executives said during CSX’s third-quarter earnings call.
Management from truck broker Landstar sees no near-term letup in tight truck market fundamentals. The company’s fourth-quarter guidance brackets its EPS record set in the fourth quarter of 2018.
Alaska Airlines is slowly improving its financial outlook month by month, but it still lost about $400 million in the third quarter.
Lower fuel prices drove Union Pacific’s operating ratio lower. Meanwhile, third-quarter net profit fell 12% year-over-year.
COVID-19 keeps bookings soft, planes parked during quarter.
Outsourced supply chain solutions provider Capstone Logistics has been acquired by former owner H.I.G. Capital.
Rush Enterprises reported lower Q3 sales and earnings. But the truck dealership network exceeded analyst estimates in both top and bottom line.
Forward Air sees 60 cents per share in the third quarter. The earnings pre-announcement comes in significantly higher than analysts’ current forecasts.
Larkin of Clarendon sees record year ahead if things break right.
Truck broker Landstar System handily beats its guidance, which was raised in early September. The company posted its second-best third quarter ever.
Canadian trucking and logistics company Mullen Group reports continued headwinds from the pandemic in Q3 as government wage subsidies help offset drop in revenue.
Tesla (NASDAQ:TSLA) reported third-quarter revenue of $8.77 billion, a year-over-year increase of 39%. The total from the company came in higher than estimates of $8.26 billion. Automotive revenue was $7.6 […]
Just like its other Class I counterparts, CSX grappled with lower volumes year-over-year in the third quarter as the broader economy recovers from the COVID-19 pandemic.
Knight-Swift Transportation’s third-quarter report provides an earnings beat, a 2020 guidance raise and a better-than-consensus first take at 2021 earnings as the carrier sees “strong freight conditions” continuing.
Higher rail volumes continue to be a trend in the fourth quarter, but the pace of volume growth could depend on how the COVID-19 pandemic plays out this winter.
Demand is reducing inventories while sales remain strong, leaving no cushion before sales ramp up as they do in November and December.
Knight-Swift Transportation raises its 2020 outlook and provides 2021 guidance that is well ahead of recently raised expectations.
Revenue growth in the railcar lessor’s international segment and in its portfolio management program affiliated with Rolls-Royce helped offset losses for its North American segment.
P.A.M. Transportation Services sees a “marked improvement” as its auto manufacturing customer base gets back to work. The carrier expects “upward rate pressure” as truck capacity tightens.
Zero-emissions credit sales drive Tesla profitability; heavy-duty truck manufacturers to access REC markets
Logistics real estate investment trust (REIT) Prologis beats third-quarter expectations and raises guidance. Conditions have improved and the runway for e-commerce-related growth appears long.
The railroad has 1,000 acres it can develop with partnering customers.
Logistics real estate investment trust Prologis records a better-than-expected third quarter and modestly raises its 2020 guidance.
PACCAR Inc. earnings fell in the third quarter but the maker of Kenworth, Peterbilt and DAF Trucks continued a string of beating earnings estimates.
Barry Engle and his Qell Acquisition Corp. raised $380 million to invest in a next-generation mobility startup. But how many great candidates are left in the SPAC craze?
At $1,931, it’s up from both the second quarter of this year and Q3 of 2019
The CARES Act oversight commission is still waiting on a response from the Defense Department regarding its “national security” designation of YRC Worldwide, which allowed the carrier to obtain a pandemic relief loan.
The Cass Freight Index booked 7% sequential gains in shipments and expenditures during September.
Executives are confident about an economic recovery but uncertainty persists over how much volumes will grow in the fourth quarter and into 2021.
Shares of J.B. Hunt Transport Services move 9% lower after the company fails to meet recently raised analyst expectations. Intermodal service headwinds and elevated costs were the culprits.
Bottom line on operating and net income largely unchanged; revenues up but costs were too
Genuflecting toward Wall Street has symbolically become part of the North American Class 1 rail company culture.
Volvo Group Q3 sales and earnings trailed last year. But a recovery in heavy-duty truck orders and market share gains in North America improved a bleak picture.
Lower operating expenses drove the increase in third-quarter net income.
J.B. Hunt Transport Services misses 3Q estimates by 9 cents per share. Revenue and operating income climb 5% but a variety of cost inflation and a tough truck brokerage market weigh on the quarter.
Income per share beat consensus but total and truckload revenue disappoints; stock falls in after-market trading
Total revenue at the company, the first carrier to report third-quarter earnings, was up more than 20%
German container carrier now expects 2020 EBITDA of between $2.8 billion and $3.04 billion.
Teamsters and YRC Worldwide agree to implement $7,500 hiring bonuses to new drivers. YRC will select the regions for the new bonus pay but the local unions have the autonomy to decline them.
United Airlines lost more than $2 billion in the third quarter, but the cargo division did its part to stabilize finances.
Delta Air Lines (NYSE:DAL) reported quarterly losses of $3.30 per share, which missed the analyst consensus estimate of $3 by 10%. This is a 242% decrease over earnings of $2.32 […]
S&P Global Ratings extended its bullish appraisal of electric vehicle maker Tesla (NASDAQL TSLA), upgrading the company’s debt rating from B+ to BB-. The raise puts the electric automaker just […]
Cold storage operator Americold expands its portfolio again, this time in a $1.74 billion bid for the world’s fourth-largest provider. Americold plans to offer 33 million common shares in total to facilitate the deal.
Data and commentary point to an earnings blowout for trucking companies in the third quarter with the likelihood of similar results in the fourth quarter. However, headwinds surrounding driver recruitment and retention present a hurdle to the rally.
The less-than-truckload industry continues to expand its footprint. Saia Inc. has added terminal capacity again, this time transitioning into a new 200-door terminal in Memphis, Tennessee.
The vote to complete a reverse merger for commercial electric pickup startup Lordstown Motors is set for Oct. 22 amid greater than run-of-the-mill business risks.
Listed carriers are poised to post stellar third-quarter numbers on higher rates and volumes.
Amazon (NASDAQ: AMZN) vs. Walmart (NYSE: WMT)? That one-on-one skirmish is old news. As COVID-19 reshapes the American shopper, money is pouring into a cluster of new and existing grocery […]
Soaring demand and a lack of truck capacity have industry participants calling for double-digit rate increases in 2021. UBS transportation equities analyst Tom Wadewitz outlines his bullish call in a note to clients.
A specialized freight brokerage is backstopped by 425 reefer tractors.
