Finance

NYSE-listed Global Ship Lease is reporting improved conditions in the container ship chartering market.

Roadrunner Transportation Systems, Inc. (NYSE: RRTS) reported a loss of $1.78 per share versus the break-even consensus estimate. The asset-light logistics service provider’s first quarter 2019 loss was much lower […]

The largest flatbed, specialized transportation and logistics solutions company in North America, Daseke, Inc. (NASDAQ: DSKE), reported first quarter 2019 adjusted earnings per share of $0.03, compared to the consensus […]

Daseke, Inc. (NASDAQ: DSKE), the largest flatbed, specialized transportation and logistics solutions company in North America, reported first quarter 2019 adjusted net income of $1.8 million in the period, $3.8 […]

White House makes sudden u-turn on tariff truce, upsetting calm in financial markets. President Donald Trump ended the spring truce in the U.S.-China trade war this weekend, with  threat to […]

WEX, Inc. (NYSE: WEX), a multi-channel provider of corporate payment solutions, reported earnings of $1.72 per share, down 9 percent year-over-year, but $0.03 per share higher than the consensus estimate. […]

Berkshire Hathway (NYSE: BRK) chairman and CEO Warren Buffett said he would be willing to consider some form of precision scheduled railroading (PSR) for western U.S. railroad BNSF, although he […]

Public ship owners like Navios Partners saw rates fall due to cuts in Brazilian iron-ore exports.

Brexit has not been explicitly blamed for the sale of Bombardier’s Northern Irish operation, but the EU withdrawal is a strong suspect, in putting 3,600 jobs at risk.

Executives at GasLog Ltd. believe the LNG shipping spot market is set to rebound. Others are not so sure.

In this commentary article, Donald Broughton looks at the second part of the economy – the consumer economy – and where we are now in the economic cycle.

U.S. Xpress held a call with analysts and the media to discuss its first quarter 2019 earnings, which were $0.15 per share compared to the consensus estimate of $0.18.

U.S. Xpress (NYSE: USX), a Chattanooga-based truckload carrier, reported adjusted earnings per share of $0.15 compared to the consensus estimate of $0.18.

Best-selling author Brad Stone (The Everything Store) will tell more about the history and future of an amazing corporate success story – Amazon – at Transparency19. Get your tickets now for this must-attend event.

According to Seaspan Corporation, the largest U.S.-listed container-ship lessor, liner companies are pulling vessels from service to install scrubbers, which is increasing demand for new charters.

Schneider National, Inc. held  a call with analysts and media to discuss earnings results. Most of the call focused on explaining what occurred in the first quarter and how the company will achieve its lowered guidance.

Royal Dutch Shell PLC (NYSE: RDS) announced net income of $5.3 billion for the first quarter of 2019, a decrease of 2 percent from the same quarter last year, reflective of the crude oil market, but a significant improvement on the $4.5 billion expected by analysts.

Schneider National, Inc. announced first quarter 2019 earnings of $.21 per share, $0.06 per share lower than last year and $0.10 worse than the consensus estimate.

NYSE-listed Scorpio Tankers has returned to profitability and its scrubber-installation program should position it to take advantage of the looming IMO 2020 rule.

Releasing its earnings before the market open on May 2, Dana Inc. (NYSE: DAN) reported a drop in net income, which was $98 million in the first quarter of 2019, down from $108 million compared with the same three months of 2018.

C.H. Robinson officials said their business model and technology has allowed the company to adapt through multiple cycles.

Atlas Air held a conference call to discuss its first quarter 2019 results. There were several questions of interest asked on the call.

So far this year, there has been heightened refinery downtime for maintenance and upgrades, but the tide is expected to turn in the second half, to the benefit of product-tanker rates.

The Economic Roundup is designed to synthesize the events of the past month as they relate to freight markets, and provide a guide on trends to keep an eye on in the upcoming month.

Atlas Air Worldwide Holdings reported adjusted earnings of $0.98 per share, ahead of the fourth quarter 2018 and the NASDAQ consensus estimate of $0.86.

Market expert Scott Case has written about the use of dynamic pricing in airfreight. Long-used to sell passenger seats on airplanes, dynamic pricing is new to airfreight – but will likely be used extensively going forward. Read Scott’s take on the why’s and wherefore’s of the move.

Supply challenges weigh on profits, but company stays positive on market conditions.

Growth in Canadian firm’s trucking business remained solid despite earnings miss.

Widening margins in NAST, especially truckload brokerage, led the way for Robinson.

“You see a dearth of well-capitalized investment firms in this space,” said Dabo Horsfall, a former investment officer at Morgan Stanley Infrastructure Partners who launched Tensile Investments in 2018.

Eaton, maker of electrical systems and powertrain components posted record revenue in the first quarter.

Tanker companies like Euronav expect to see financial benefits from impending environmental regulations, which will change the type of fuel burned at sea and could eventually limit how fast ships can go.

Genesee & Wyoming, Inc. reported adjusted earnings per share of $0.78 for the first quarter of 2019, which were 11 percent better year-over-year, but less than NASDAQ’s consensus estimate of $0.83.

Cummins is reviewing is emissions certification and compliance process following questions from EPA and CARB. The company did report strong earnings and a record number of engines shipped in the first quarter.

Market expert Brian Aoaeh’s article focuses on the current and upcoming maritime industry issues – IMO 2020, global warming, rising sea levels, etc. Read Brian’s take on how the maritime industry is meeting these challenges.

Oshkosh Corporation (NYSE: OSK) reported its fiscal year 2019 second quarter earnings on April 30, highlighting an increased diluted earnings per share of $1.82, compared to the $1.47 reported in the same quarter in 2018, and a net income of $128.5 million compared to $110.8 million, in 2018.

Market expert Jim Blaze looks at an under-appreciated asset of North America’s freight railroads – their real estate holdings. Read Jim’s hypothesis of what the railroads might do with this real estate in the near future.

But Ryder’s 3PL division, Supply Chain Solutions, is expected to go into negative year-over-year growth next quarter.

Genesee & Wyoming, Inc. reported adjusted earnings per share of $0.78 for the first quarter of 2019, which were 11.4 percent better year-over-year, but less than the consensus estimate of $0.83.

Canadian National Railway Company reported adjusted earnings per share of C$1.17 per share for the first quarter 2019, 17 percent better than the same period a year ago.

A few years ago the idea of using drones for last-mile delivery were just an idea. But the idea is becoming a reality in China, Indonesia and now the USA. Read Market Expert Cathy Roberson’s views on the use of drones for last-mile delivery.

Dry bulk shipping faced multiple headwinds in the first quarter, but NYSE-listed Scorpio Bulkers benefited from its smaller ships and its diversification into the product-tanker sector.

One-year old container ship joint venture expects customers to come back with more boxes and pay higher rates in 2019.

WTI’s recovery this quarter should accelerate production in the Permian Basin, driving further truckload demand.

Donald Broughton, FreightWaves’ chief market strategist, helps explain the U.S. economy in a multi-part series. This article focuses on the industrial economy of the U.S., which is critical to the overall health of the nation.

Growth in the U.S. economy improved 3.2 percent during the first quarter, but details related to freight demand suggest a weaker environment to start the year.

Werner Enterprises, Inc. reported non-GAAP adjusted earnings per share (EPS) of $0.52, $0.03 ahead of the consensus estimate.

Company about to move the delivery cheese again.

Werner Enterprises, Inc. (NASDAQ: WERN), reported non-GAAP adjusted earnings per share (EPS) of $0.52, besting  the consensus estimate of $0.49 per share.

Covenant Transportation Group (NASDAQ: CVTI) posted adjusted earnings per share (EPS) of $0.27 for the first quarter of 2019, beating analyst estimates and edging past the expectations the company itself announced earlier this quarter.

This is the year when ALK expects Virgin America merger synergies to ramp up, but they’re still adding back costs associated with the deal.

Knight-Swift Transportation reported adjusted earnings per share that were ahead of analysts’ expectations. FreightWaves was able to speak with David A. Jackson, Knight-Swift Transportation’s President and Chief Executive Officer.

Intermodal business surges from acquisitions made during 2018.

Landstar’s President and Chief Executive Officer Jim Gattoni said that he is “comfortable” with the current full-year consensus EPS estimate of $6.41.

FreightWaves’ kick-ass Transparency19 will take place May 6-8 in Atlanta. New opportunities for SONAR and Trucking Freight Futures are available; learn how to register and take part!

Roper Technologies, Inc. (NYSE:ROP) reported diluted earnings per share (EPS) of $3.30 in the first quarter of 2019, up from $2.61 in the same quarter last year.

The company issued soft second quarter guidance, expecting organic net sales to range anywhere from flat to down 2.5 percent from the second quarter of 2018. The company also expects adjusted EPS to fall next quarter.

Kyocera Corporation will celebrate its 60th anniversary and its second consecutive year of record sales by paying out shares to its employees and confidently predicts a third year of record sales with further mergers and acquisitions to come.

CEO Gantt lowered capex guidance by $10 million to $480 million, likely reflecting top line headwinds, but we’re waiting to hear updated revenue guidance in the conference call.

Canadian firm’s transportation segment shines as oil services shows signs of recovery.

Landstar System, Inc. reported first quarter earnings per share (EPS) of $1.58, compared to the consensus estimate of $1.51 and $0.21 higher than the 2018 first quarter.

Tesla (NASDAQ: TSLA) badly missed analysts’ earnings estimates for the first quarter of 2019. The company reported an adjusted loss per share of $2.90, much worse than analysts’ estimated loss per share of $0.69.

Despite a crash in truckload spot prices (approximately 50% of ECHO revenue), the freight brokerage beat analyst expectations.

After two deadly crashes involving its 737 MAX rattled the company, Boeing (NYSE: BA) is expected to report its earnings Wednesday, highlighting the financial toll of the flawed aircraft.  

CEO Alain Bédard says acquisition will invigorate Canadian firm’s U.S. last-mile business.

Knight-Swift Transportation Holdings, Inc. (NYSE: KNX) reported first quarter 2019 adjusted earnings of $0.55 per share compared to analysts’ expectations of $0.52 per share.

Heavy-duty equipment maker tops estimates largely due to one-time tax gain, but the mining business does show better growth.

In the wake of the 737 MAX crashes and subsequent worldwide grounding of the aircraft, Boeing reports its earnings, which are down for the quarter.

The company posted an operating ratio (OR) of 66 percent, improving on its fourth quarter 2018 OR of 67.8 percent and setting a first quarter record.

Swedish company says market outlook remains positive in North America as order book remains full.

Manhattan Associates, Inc. held a call with investors to discuss its first quarter 2019 earnings results which were ahead of analysts’ forecasts on an adjusted basis.

SAP posted impressive growth in cloud revenue while avoiding a concomitant drop in licenses.

Canadian transportation company reports strong performance across businesses following record 2018.

Manhattan Associates, Inc. reported adjusted non-GAAP earnings per share of $0.41, $0.04 better year-over-year.

The company issued a soft outlook, predicting fiscal year 2019 all-in sales growth from in-line to up 1 percent versus 2018, including a negative impact of 3 to 4 percentage points from the combination of negative foreign exchange and a modest positive impact from acquisitions and divestitures.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) reported first quarter earnings per share (EPS) of $1.22 compared with $1.11 in the first quarter of 2018, and an adjusted EPS of $1.20 compared to $1.17 last year, defying analyst expectations.

Market expert Jim Blaze looks at how rail freight volume has changed over the years and what the outlook is for the next decade. Learn what he thinks will happen to the railroad industry in its long-term competition with trucking to carry freight.

Donald Broughton, FreightWaves’ chief market strategist, explains the problems he has with surveys based on ‘sentiment’ – except for the Institute for Supply Management survey. Read why he believes in its results.

Cathy Morrow Roberson explains what makes Miami International Airport (MIA) special, and what the airport, airlines and air cargo companies are doing at that particular facility to facilitate cargo. Learn more about MIA in this article.

Markets are tightening. Full implementation of sanctions on Iranian oil could make them tighter.

Retail sales rebounded in March, rising by the largest amount in over a year. Growth was brod-based during the month, with most areas in the sector seeing rising sales.

The U.S. is proposing $11 billion in tariffs on European Union goods because of allegations that Airbus received that amount of subsidies when it launched the Airbus 380, thereby harming U.S. interests. Read Jesse Cohen’s explanation of the articles proposed for tariffs and what the tariffs might do to the air cargo and maritime industries.

Panalpina reported $0.82 (Swiss Francs, or CHF) per share in earnings for the first quarter of 2019 compared to $0.72 CHF for the same period last year.

Air cargo market expert Jesse Cohen writes about the ongoing efforts to increase security in air cargo operations. Read about the latest measures and how they impact the movement of freight.

LA caught between straits of labor and capital; group looks for ocean freight’s Esperanto; and digital-first forwarder gets $20m funding.

The U.S. Department of Justice is cracking down on companies that collude to fix prices online, highlighting the role of new technologies in antitrust schemes as well as legal competitive activity.

Market expert Dean Croke writes about the construction boom in Las Vegas, the number of flatbed trucks hauling steel to the city for its mega-construction projects, and the outlook for the flatbed truck market in 2019.

Market expert Jim Blaze questions the benefits to-date of precision scheduled railroading (PSR). Read his views on how railroads could prove PSR’s value to shippers.

Industrial output in the economy continued to struggle in March, as a stalled manufacturing sector continues to weigh on freight demand in the economy.

FreightWaves and the Transportation Intermediaries Association announced a program that will provide SONAR to TIA members and staff. SONAR is the leading data/analytics platform in the transportation industry.

‘Discretionary’ cargo may look elsewhere for U.S. dock space should the biggest terminal in the biggest port not find ways to be more efficient.

Air cargo volume in Europe continues to decline. Read market expert Cathy Morrow Roberson’s take on the reasons why this is occurring and if there are options available to improve the volume.

Not long after its IPO, Lyft is removing electric bikes from the markets of New York City, Washington, D.C. and San Francisco after reports of problems with the vehicles’ brakes.

American Airlines has lengthened the grounding of its Boeing 737 MAX 8 aircraft through August 19. American joins other airlines in this action. What is Boeing doing to fix the aircraft, and what is the FAA doing from a regulatory perspective?

Another outbreak of salmonella poisoning has occurred – this one caused by tainted fruit. Read how blockchain could help deter and detect these outbreaks before they harm many.

With first quarter 2019 earnings set to kickoff on Monday, April 15, FreightWaves is looking at expectations for the transportation stocks.

Uber released its S-1 filing after the market close, placing in on track to go public with its anticipated May IPO.

Precision scheduled railroading (PSR) is the latest tactic railroads are using to improve their operations – and their images. Market voice Jim Blaze explores whether PSR is real or just marketing hype…

Around the world, consumers are clamoring for more seafood. Read how airlines and airports are working to move more seafood more quickly around the world.