Finance

Air Transport Services Group

YRC Worldwide expands regional next-day service throughout the South. The announcement follows similar expansion plans from competitors.

Deutsche Post DHL saw a significant rise in e-commerce activity during the second quarter due to continued COVID-19 travel restrictions and retail store closures.

TravelCenters of America has been forced to close some restaurants again as an increase in COVID-19 cases has tightened restrictions on dining out in some regions.

The cargo divisions at Air Canada, IAG/British Airways and Air France-KLM played dominant roles for their respective airlines in the second quarter, creating cash flow. Typically, they barely register on the financial statement. What happened?

Jim Blaze explores the state of the major railroads that operate in Mexico – particularly Kansas City Southern, which is rumored to be a takeover target.

Tonnage is down but overall revenue from its air freight activities boost revenues in that sector

YRC management believes it will take four to six quarters to complete $400 million worth of equipment replacement.

YRC Worldwide’s second-quarter loss came in ahead of expectations. The earnings call is likely to focus on the company’s path forward.

Overall strength in the freight economy continued to drive the Trucking Freight Futures markets higher across the board last week, as the spot National contract set another all-time weekly record by climbing $0.075, or 4.5%, to $1.727 per mile.

Old Dominion Freight Line says it has expanded its network of service centers by nine so far in 2020. The expansion will facilitate the carrier’s efforts to grow market share.

Startup electric truck maker Lordstown Motors takes trendy reverse merger route to public ownership, and a $1.6 billion valuation.

With possible permanent loss of some of its retail base, TFI will need to take steps that may include acquisitions, the company’s CEO said.

The Carol Tomé era has arrived with a bang.

Acquisition for TFI is fourth in the last two months

While revenue for Universal Logistics Holdings’ truckload, brokerage and intermodal segments all declined during the second quarter, the CEO said he was pleased with the “anticipated direction of our current operations.”

Numbers for the division were far worse than those of peers like Old Dominion and Saia; Deutsche Bank recommends breakup of the company

Forward Air lays out plans to expand its less-than-truckload footprint. More terminals are expected to open this year.

In conference call, CFO Satterfield discusses some flaws with other measures of LTL profitability

Amazon cautions that the company is running out of fulfillment and delivery capacity.

Hub Group’s second-quarter earnings beat was accompanied by the expectation for intermodal volume to increase in the high-single-digit range for the rest of the year.

The important barometer is down about 10 percentage points on decline in XPO LTL revenue that outstripped cutbacks in expenses.

On a per-share basis, the Warren, Michigan-based company said it had net income of 23 cents per share, on total operating revenues of $258 million.

Amazon reported strong second-quarter revenue and profits as it benefited from the rapid acceleration in e-commerce demand due to efforts to control the spread of the novel coronavirus.

Improving demand and truckload fundamentals are expected to drive third-quarter growth. The carrier’s growing cash balance garners some attention.

WEX Inc., a provider of fuel cards and account management services, reported sales fell 21% year over year to $347.1 million.

The railroad aims to take market share away from trucks through expanded offerings in the Southwestern and Southeastern U.S.

“Cost containment” minimizes the impact of a 15% revenue decline during Schneider National’s second quarter. Guidance was reinstated higher than current consensus expectations.

LTL carrier’s earnings per share beat Wall Street estimates even as revenue was mostly flat with consensus.

UPS’ quarterly results are much better than analysts anticipated.

Werner Enterprises’ second-quarter result was much better than expected, with the carrier providing a favorable rate outlook.

Accelerated depreciation of the value of its inventory has been a key financial undertaking this year, and is a topic of discussion on the company’s earnings call with analysts.

Werner Enterprises reports second-quarter earnings well ahead of analysts’ forecasts and largely in line with the year-ago quarter.

Cost initiatives and spot market freight ease the impacts of a choppy pandemic-impacted freight market. ArcBest’s improving trends lead to reinstated wages and benefits.

Saia Inc. has a market capitalization of $3.33 billion and has 169 trucking terminals in 44 states.

Net income was hit by an earlier writedown of its used vehicle values; company doesn’t see that market getting back to pre-pandemic levels until 2022

Autonomous vehicle (AV) companies are emerging from a tumultuous period defined by layoffs, delayed timelines and consolidations, but the industry remains hamstrung by lack of physical and digital infrastructure, a […]

Boeing commercial aircraft deliveries fell by more than half over the past six months, compared to the same period last year.

Second-quarter rail volumes fall by 26%.

ArcBest’s second quarter result, a $0.67 per share profit, was much better than analysts’ forecasts for a break-even performance. The company will restore salary and benefit cuts.

Trucking company cites benefits from new digital technology as key reason; gain in one key OR from the first quarter is 500 basis points

Rail equipment manufacturer Wabtect expects sequential rail volume gains to support the company’s global sales in the third and fourth quarters.

NAST margins narrowed, but volumes held up relatively well.

No price was disclosed on the purchase of Ansonia by one of the credit industry’s leading firms.

Management from USA Truck provides upbeat commentary regarding the potential for significantly improved earnings as truckload fundamentals remain firm.

It’s not an accident that United Airlines’ cargo business in the second quarter dwarfed that of Delta Air Lines and American Airlines.

Earnings per share exceed analyst forecasts

USA Truck’s second-quarter result comes in slightly ahead of expectations, but the carrier extends its losses to four consecutive quarters.

The Trucking Freight Futures markets continued to plow higher across the board last week, reflecting the overall strength in the freight economy, as the spot National contract set another all-time weekly record by climbing $0.072, or 4.6%, to $1.652 per mile.

Orient Overseas Container Line briefly outlines performance for the second quarter and first six months of 2020.

“This outperformance once again demonstrates that we are in the right locations, and a focus on origin and destination cargo will continue to deliver the right balance between growth and resilience,” Sultan Ahmed Bin Sulayem says.

Roadrunner Transportation Systems to spin off global logistics segment, emerging debt-free in the process.

No one knows how long freight will continue to break new records; only time will tell.

Trinity took a $369 million impairment charge because leasing small cube covered hoppers exposed the railcar lessor to the frac sand market.

The western U.S. railroad looks to take more market share away from trucks.

FreightWaves raised $37 million in two rounds of funding. Learn more about FreightWaves and Kayne Partners, which led one of the rounds.

Company raises guidance for the rest of the year.

P.A.M. Transportation points to automotive manufacturing closures as reason for second-quarter loss.

American Airlines’ cargo revenue for the first half of the year was $277 million, or 37% lower than the first half of 2019.

Landstar’s earnings call outlines the company’s better-than-expected guidance.

Southwest Airlines wrote its second-quarter results in red ink — $1.5 billion to be exact. It is not alone. All airlines are suffering financially from the coronavirus crisis.

Coronavirus pandemic and economic uncertainty weigh on UP’s second-quarter earnings.

Volumes have been recovering swiftly, but headwinds make it difficult to predict when pre-coronavirus levels will fully return.

American Airlines lands $2.7 billion pretax loss in second quarter.

Canadian trucking and logistics firm Mullen Group reports a large drop in profits in its second-quarter financial results. But the company is positioning itself for recovery as business activity comes back.

Tesla will build its newest Gigafactory near Austin, Texas, chief executive Elon Musk announced during the company’s earnings call on Wednesday.

In second-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 gross revenues fell by 7.1% on […]

Landstar misses estimates in its second-quarter report, which included bonus payments to workers during the pandemic. New guidance better than expected.

It is the electric vehicle manufacturer’s fourth straight quarterly profit.

The COVID-19 pandemic and a slumping economy dent CSX’s earnings.

Despite a 12% drawdown in volumes, CP reached a record second-quarter operating ratio of 57%.

Knight-Swift sees demand improve throughout the second quarter, producing a big earnings beat. The carrier raises its 2020 earnings outlook to a level higher than its original expectation.

RLS says customers want a flexible, responsive alternative to PE-backed roll-ups.

Workers to be covered stretch back to second half of 2012 through this year

Knight-Swift posts solid second quarter and reinstates full-year guidance to a level higher than before the outbreak.

The COVID-19 pandemic dampened second-quarter revenue by 9%.

The expectation that North American consumers will help drive intermodal traffic comes as the railway’s second-quarter volumes were hit by the coronavirus pandemic.

Heartland Express announced the family trust of founder and current CEO will sell up to $76.9 million in stock. The family will still hold roughly 40% of the company’s outstanding stock following the transaction.

United Airlines got pummeled by the coronavirus pandemic in the second quarter, losing $1.6 billion before special charges. But cargo revenue jumped because of the huge number of cargo flights it operated without passengers to worry about.

Unadjusted net income for the second quarter falls nearly 60% from the same period in 2019.

Graft says on earnings call that by end of June, number of invoices being processed exceeded year-ago levels

Logistics REIT Prologis sees demand for space accelerate even as e-commerce activity recedes to near-normal levels. 2020 outlook raised on market tightness.

These factors are dampening lease rates and renewal activity, the company said during its second-quarter earnings call on Tuesday.

The coronavirus’ whipsaw effect on the global supply chain took a toll on Kuehne + Nagel during the first half of 2020, but without a rapid internal response the hit would have been far worse, CEO Detlef Trefzger says.

PACCAR beat the consensus estimate of analysts, posting second-quarter profits of nearly $148 million despite U.S. plants being closed for five weeks because of the coronavirus pandemic.

Logistics REIT Prologis reports stronger than anticipated second quarter and raises outlook for the remainder of the year.

YRC loan called into question by Congressional Oversight Commission. YRC’s board may have had the same concerns with the company’s equity in 2019.

Number and average size of invoices purchased both declined from 1Q 2020 and 2Q 2019

The Trucking Freight Futures markets continued their march higher last week, reflecting the overall boom in the freight economy, as the spot July National contract rose $0.023, or 1.5%, to $1.580 per mile.

Asset sales in Comcar’s pre-packaged bankruptcy have hit a roadblock. Obstacles include questions on trailer titles and the sale of the business units to the former chairman, who still has an unsettled dispute with the company.

Owners of low-priced warrants for new shares and pre-merger discount buyers registered to cash out of electric truck startup Nikola leading to an after hours selloff on Friday, July 17.

The railroad plans to keep operational changes such as reduced train starts and longer trains even as volumes rebound.

The truckload carriers have reported solid results to start second quarter earnings season, but some load data is still lagging.

Tightened capacity seen as a spur to both Heartland and Marten beating estimates, with optimism from analysts going forward The earnings reports of truckload carriers Heartland Express and Marten Transport […]

Plus.ai, a self-driving trucking company based in the U.S. and China, is in talks to raise $60 million, the Information reported.

Better-than-expected performance across the board buoys Daimler prospects. Job cuts are a big part of the picture in a preview of second-quarter earnings.

Glum Volvo Group financial report follows layoffs of 4,100 white-collar workers in second quarter. Uncertainty means the pain may continue for some time.

The railroad experienced a 23% dip in revenue as carload volumes fell 21%.

J.B. Hunt easily bests consensus forecasts led by better-than-expected intermodal and dedicated results. The back half of 2020 remains hazy on COVID-19 fears.

Overall operating ratio improves on back of dedicated and truckload segment gains