Titanium Transportation Group increased profits and continued to aggressively pay down debt even though revenues fell by almost 10% as the Canadian firm navigated the impacts of COVID-19.
Fleet size down by 10%; cutback in other costs highlighted company’s performance.
When times get tough, crude-tanker owner DHT starts buying. Times are getting tough.
Lineage Logistics has added 24 locations to its network of cold storage facilities through a series of acquisitions. The announcement follows a few large deals Lineage announced recently.
Mesa Airlines flies small regional jets on small routes for mainline carriers. Now it’s stepping up a size to the Boeing 737 so it can haul cargo for DHL. Find out how they are getting ready for the new era of cargo.
Total charges were more than $30 million as part of strategic shift
Workhorse Group lost a lot of money on paper because new borrowing was tied to its exploding stock price. But it has the cash on hand to build electric trucks into 2022.
The COVID-19 pandemic dented BNSF’s profits and lowered rail volumes in the second quarter.
PayCargo has become a force in the online payment of freight transportation bills and now offers coronavirus-impacted shippers and forwarders credit lines to smooth their cash flow.
M&A is being blocked by weak share pricing among buyers and lack of desperation among sellers.
Korean Air is a unicorn among passenger airlines. It made a profit in the second quarter, a remarkable feat given the depressed state of the airline industry.
Cold storage facility operator Americold Realty Trust’s second quarter was slightly below expectations on choppy demand and increased COVID costs.
Freight segment’s EBITDA improved slightly but still in the red
Airlines are saving every penny possible and with so few people traveling they don’t need more airplanes. That’s hurting sales at Airbus and Boeing.
Euronav and Scorpio Tankers highlight attractive fundamentals after floating storage wraps up.
Shares of Daseke surge 20% as the company’s overhaul appears to be ahead of schedule. Second quarter results were better than expectations.
Atlas Air Worldwide’s big cargo planes have been in flying full tilt since the novel coronavirus metastasized in March. Combine that with high rates and you’ll understand why r revenue and profit grew so much in the second quarter.
Flatbed carrier Daseke’s turnaround starting to show fruits. Stock pops more than 15% on better-than-expected second quarter.
Sunnyvale, Calif.-based Trimble is a provider of technology solutions for trucking companies, private fleets, freight brokerage, and third-party logistics providers.
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
