From slashing salaries to borrowing money to get to the other side of the COVID-19 pandemic, suppliers Meritor and Dana are keeping electrification programs on track while slowly restarting production.
The drop in North American rail traffic could push railcar leasing rates lower.
Combined transportation and logistics powerhouse grows gross profit despite impact from COVID-19.
Trucking Freight Futures prices continued to tumble and were lower across the board for a sixth consecutive session on Wednesday as the spot National contract closed lower to $1.329 per mile.
A better than expected first quarter yields to expectations that a recovery may not occur until June. Some of Schneider’s customers are starting up again, but demand in May will likely be choppy.
While others have seen a decline in shipments, April held firm: CEO
Orbcomm operates in transportation and distribution, heavy equipment, industrial fixed assets, oil and gas, maritime, mining, and government.
American is slashing expenses, but not fast enough to stop big profit losses. Here are the details on its first quarter and what it expects going forward.
Schneider reports TL volumes are down upper single-digit percentages in late April, but notes that some of its customers shutdown by COVID-19 are set to come back online.
Fewer brokers and more engineers make operating costs less flexible, and we question the “take market share” mantra.
Boeing took a big loss in the first quarter and the rest of the year doesn’t bode better for a company plagued by ongoing technical problems with key products, and now facing little demand for aircraft.
Regulatory credit sales and streamlined operations helped drive the electric vehicle maker to its third consecutive quarterly profit; CEO Elon Musk rages against the coronavirus lockdown
Uncertainty beyond loss-making second quarter concerns Daimler leaders, though robust supply chain and cash position suggest fast production ramp-up when economy recovers
Trucking Freight Futures were lower across the board for a fifth consecutive session on Tuesday, as freight volumes and the uncertainty of economic recovery weighed on the market causing the spot National contract to fall 0.74% and close at $1.339 per mile.
The cuts to train starts are part of the railroad’s wider objective to implement precision scheduled railroading.
Accelerated depreciation it set at a “trough” level from 2002
Saia’s first quarter performance placed its recent terminal expansion campaign on full display. Unfortunately, COVID-19 headwinds will mask near-term results.
Darren Prokop explores the reasons for the huge drop in oil prices and what the ramifications are because of the drop.
Like other railroads, Norfolk Southern is feeling the effect of lower rail volumes because of the coronavirus pandemic.
Saia’s multi-year terminal expansion project drives earnings results well ahead of expectations.
Favorable customer mix to make Werner’s truckload model a little more defensive through the downturn.
Werner believes its consumer-heavy shipper base will allow the company to ‘more effectively manage through’ the downturn.
NAST margins were squeezed to 13.19%.
Cummins saw a tough environment for most of its segments in 2020 before the word pandemic became common. Now it is depending on its collective experience in managing bad times to pull it through again.
Hong Kong-based shipping line says first-quarter volume was down less than half a percent despite pandemic.
UPS faces economic and other challenges in the wake of COVID-19.
Trucking Freight Futures were lower across the board for a fourth consecutive session on Monday, as freight volumes and the uncertainty of economic recovery weighed on the market, causing the spot National contract to finish down $0.01, or 0.74%, to $1.349 per mile.
Maker of AI-powered suitcase ramps up intelligent robotics warehousing solutions.
Southwest Airlines is not used to losing money in any quarter or full year, but that will change in 2020.
The effect that the coronavirus pandemic is having on rail volumes could get worse in the coming weeks before things get better, according to executives.
Covenant continues to reshape the company in efforts to better focus on contract logistics and improve its financial structure.
Revenue and profits look bleak for second quarter, but leading engine maker Cummins surprised analysts with better-than-expected first-quarter revenue and profits.
The railway managed to boost its first-quarter net income despite the February rail blockades and the COVID-19 pandemic.
Global freight forwarder attributes most of the 23.2% year-over-year first-quarter earnings drop to impact of COVID-19 pandemic .
For a third straight session on Friday, Trucking Freight Futures were lower across the board, capping one of the worst weekly performances since the contracts began trading, as volume concerns weighed on the market.
Trump signs bill carving out $60 billion in loans specifically for smaller community-based lenders.
It was down session for Trucking Freight Futures as the market fell across the board for the second consecutive day on Thursday with the spot National contract down 0.9% to $1.367 per mile, driven lower by pressure in the East.
Revenue per hundredweight is suffering as a result: CFO
Daimler AG revealed difficult first-quarter results, removing mystery from next week’s earnings report, which shows all segments struggling, including its truck manufacturing business.
The western U.S. railroad can deploy additional cost reduction measures, but how much cost savings it can realize from those measures will depend on how much rail volumes fall in the second quarter.
Trucking Freight Futures were lower across the board on Wednesday as the overall health of the economy weighed on rates with the spot National contract falling $0.012, or 0.9%, to $1.375 per mile.
Landstar has seen volume declines accelerate in recent weeks and management believes that a recovery is unlikely until the automotive and building products segments resume activity.
Even before the COVID-19 pandemic the Class I railroads were mothballing freight cars – and locomotives. Jim Blaze examines the issues surrounding the surplus of locomotives.
Other metrics helped the LTL carrier post a new record.
Rush Enterprises, the largest seller of new and used trucks in the country, posted solid first quarter results but is concerned about coronavirus-related carnage to come.
Transportation invoice volumes fall 7.5% for payment services provider Cass Information Systems.
Heavy-duty truck maker AB Volvo saw business seize up in mid-March but exited the quarter with lower but still positive sales and profits.
Despite lower revenues, the western U.S. railroad saw its first-quarter net income increase as the company trimmed quarterly expenses by 10%.
Jason Bates will fill the vacant CFO role at Daseke after three years in the same role at USA Truck.
o hedge against rail volume uncertainty in the second quarter, CSX aims to control costs.
Canadian transportation and logistics company says it laid off or furloughed 1,000 employees as it posts first-quarter results.
Margins widened again in April, but revenue per day is down 12%.
Landstar System calls attention to its variable cost model as first quarter falls short of expectations. No guidance issued for second quarter.
CSX’s (NASDAQ: CSX) first-quarter net profit fell 7.7% amid lower revenues and a record operating ratio. First-quarter 2020 net income was $770 million, or $1 a share, compared with $834 […]
It was a mixed day on Tuesday in the Trucking Freight Futures markets with uncertainty looming as to where rates may head in the near-term.
Knight-Swift’s better than expected quarter yields to further uncertainty as the year progresses.
Precision scheduled railroading and its workforce will help CP get through anticipated challenges in the second quarter, company executives said.
Canada’s largest transportation company reveals cutbacks as it reports a 16% jump in profits during the first quarter.
Manhattan Associates first quarter was well ahead of expectations. Management lowered guidance, but believes that this downturn will be shorter in duration.
The railway’s first-quarter net income slipped on higher income tax expenses. But total revenue rose nearly 16% in the first quarter of 2020 while operating expenses were roughly flat-to-higher.
One adviser said he is processing “thousands” of applications.
Prologis reports solid first quarter, but reels in guidance on COVID-19 headwinds. An uptick in demand is not likely until a vaccine is discovered.
Following Monday’s U.S. oil market meltdown, Trucking Freight Futures continued to move lower as the spot National contract fell 0.43% and settled at $1.388 per mile.
Heartland Express’ better than expected result was diminished by the lack of gains on equipment sales.
PACCAR Inc. posted decent first quarter earnings despite shuttering its plants in late March because of the coronavirus pandemic. While truck orders cooled, parts sales set a record as the truck maker tries to build on 81 consecutive profitable years.
Loan quality deteriorated slightly, but TriumphPay is growing fast.
After a strong start to the week, Trucking Freight Futures finish mostly lower as freight fundamentals take hold.
By partnering with analysts from both FreightWaves and DAT Solutions, event attendees on April 23 will have access to three sessions rich with fresh data.
Sector makes up 3% of $342 billion worth of COVID-19 payroll protection loans.
The railroad will be keeping tabs on operational costs as a way to hedge against the economic uncertainty brought about by the COVID-19 pandemic.
With the belt tightened at YRC, a covenant waiver and benefits contribution deferral are still required.
KeyBank report mostly positive after discussions with management.
Cross-border movements of chemicals and petroleum products, as well as intermodal shipments, helped propel revenue higher.
The current $61 billion set-aside for the domestic airline industry left out the forwarders.
Other segments at the truckload carrier had weaker performances.
It was a mixed Wednesday in the Trucking Freight Futures markets as the spot National contract (FUT.VNU202004) fell fractionally to $1.403 per mile with macroeconomic factors continuing to weigh on rates.
Diminished railcar demand and COVID-19 headwinds force railcar maker to halt production and trim staff.
The Trucking Freight Futures markets slid across the board on Tuesday with the spot National contract falling 0.4% to $1.404 per mile as macroeconomic weighed heavily.
P.A.M. Transportation finds success calling on its “friends in the industry” as it scrambles to replace lost automotive OEM business.
The J.B. Hunt first-quarter conference call provided a mixed bag of anecdotes. While concerns mount over economic disruption, the company has some offsets.
J.B. Hunt’s first quarter results, while slightly below consensus, were likely not as bad as feared. The company’s outlook provided on its earnings call will be the takeaway.
Trucking Freight Futures staged a strong rally on Monday after being closed Friday in observance of the Good Friday holiday.
Concurrent EILD program definitely appears to be a less desired option.
Cass data plummets further, erasing any chance of second-quarter year-over-year growth in shipments and freight costs, according to report.
The Trucking Freight Futures markets were closed Friday in observance of the Good Friday holiday with the spot National contract finishing unchanged at $1.399 per mile week over week.
The investment will help accelerate product development of its next generation SmartTags and scale up operations across both sales and marketing.
Prologis’ update highlights strength of the logistics real estate market entering pandemic. Some clients are asking for rent relief.
The global logistics giant said its Q1 profits among its five business divisions suffered from the coronavirus upheaval.
It was another mixed day for Trucking Freight Futures on Thursday as the spot National contract finished unchanged for the eighth consecutive session at $1.399 per mile.
U.S. logistics real estate operator announces it has reached the 100 million euro cap for its European logistics fund.
Nikola Corp. filled VectoIQ’s $230 million public shell company after former Wall Street analyst and General Motors executive Steve Girsky shopped more than 100 smart transportation companies and signed 75 nondisclosure agreements and six letters of intent.
Trucking Freight Futures continued to move in a narrow range for the second consecutive session on Wednesday as the spot National contract settled at $1.399/mile.
Morgan Stanley survey shows coronavirus disruption is accelerating for carriers, shippers and brokers, but the height of the disruption may be closer than some may think.
Activist investor Barna Capital seeks to swap out YRC Worldwide board members and make non-executive level changes in management.
Cargo X is Brazil’s largest digital freight marketplace, connecting about 20,000 carriers and their 400,000 truckers with freight.
While transportation industry participants have an abundance of questions loaded for management teams this earnings season, answers on the future will be tough to provide.
The “logistics orchestration” startup closes out a yearlong fundraising process at the height of the coronavirus pandemic.
Trucking Freight Futures are relatively unchanged as a normal trading pattern returns on Tuesday.
Shippo is a next-generation shipping platform for ecommerce businesses, helping them provide their end consumers with an exceptional shipping experience.
More funds for loans could help protect small and midsize carriers from layoffs.
