Roadrunner Transportation Systems announces the sale of another business unit, this time unloading Stagecoach Cartage and Distribution.
Hub Group joins other transportation companies in accessing revolving credit to improve liquidity.
ArcBest battens the hatches on coronavirus concerns. The company draws down available credit and implements business continuity plan.
Roadrunner seeks voluntary delisting from the NYSE as it continues its reorganization and focuses on asset-light offerings.
P.A.M. Transportation says it has temporarily laid off approximately 75 employees as auto plant closures increase.
Morgan Stanley upgrades its freight transportation industry view from “cautious” to “in-line.” The firm lowered its earnings expectations for the group.
Stifel Financial sees an OK first quarter, but the picture gets less clear after that, with risks to second-quarter earnings estimates.
Stifel Financial’s conference call with industry executives forecasts supply chain disruption extending to July or longer.
Virus-related demand headwinds bring fresh declines in February Cass data. Visibility into a potential trucking recovery is further clouded.
Daseke expects weakness in the industrial markets and oil and gas sectors to persist. Management said the environment was sequentially weaker in the first quarter.
Chief Financial Officer Alan Graf to retire at year-end. Corporate Vice President and Treasurer Mike Lenz to assume the role in September.
XPO announces deal to buy the majority of Kuehne + Nagel’s U.K. contract logistics segment. The deal comes shortly after XPO announced plans to divest units.
Rather than talk about the proposed TRATON buyout of the company — the elephant in the room — Navistar executives unpacked reasons behind the disappointing first fiscal quarter they had predicted.
‘Strong sales’ in February are expected to continue through Easter. Disruptions to the company’s supply chain continue to be monitored.
China’s largest ecommerce company, JD.com, not ready to completely quantify coronavirus disruption.
Lowe’s sees positive sales comps in 14 of 15 regions, but full-year fiscal 2020 guidance disappoints.
ORBCOMM lowers full-year 2020 guidance given recent coronavirus developments.
Higher fuel sales and restoration of the federal tax credit for biodiesel blending boosted the bottom line. However, operating margins continued to be under pressure and the travel center operator borrowed money to cover general expenses.
Higher margins from completed vehicles help offset hit from GM strike as Canadian auto manufacturer warns of potential impact of coronavirus.
Americold sees “lots of occupancy opportunities” for cold storage moving forward.
EXPD earnings fell 23% year-over-year; management cited the business cycle and warned about Q1 coronavirus impacts.
Walmart’s fiscal fourth quarter comes in light of expectations as holiday activity was lower than expected.
Into its second decade of existence, Daseke pumps the brakes on acquisitions and attempts to streamline all that it has bought.
Rush Enterprises Inc. (NASDAQ: RUSHA), which operates the largest network of commercial vehicle dealerships in North America, on Wednesday reported fourth-quarter revenue of $1.3 billion, compared to revenue of $1.5 […]
Acquisitions and strong less-than-truckload performance help bring record revenue to Mullen Group’s trucking and logistics business and offset declines from its struggling oil services.
Canadian transportation company delivers impressive performance in weak freight market as it finishes 2019 with 20% increase in operating income on strength of its truckload and logistics businesses.
FLEETCOR Technologies, Inc. (NYSE: FLT), a fuel-card and business-payments provider, announced fourth-quarter 2019 adjusted earnings per share (EPS) of $3.17, 14% higher year-over-year and $0.03 better than the consensus estimate. […]
A difficult truck brokerage market appears to have stalled growth at Uber Freight compared to the third quarter. However, the operating loss narrowed significantly.
Company posts expected $8.6 million profit as intermodal helps offset declines from trucking and other divisions as new CEO looks to better performance in 2020.
U.S. Xpress sees a path to improved profitability in 2020 and beyond. These were just some of the highlights provided on the carrier’s earnings call.
U.S. Xpress reported a better-than-feared loss to close out 2019. The company expects conditions to improve in 2020.
Werner’s management team is still pointing to a truckload recovery in 2020 but noted that the first half will be a challenge.
Echo protected its margins and issued positive guidance for Q1 and 2020.
Manhattan Associates says demand for cloud-based supply chain services remains robust and led to a record peak season.
Engine maker Cummins already was predicting a difficult 2020 before the outbreak of the coronavirus in Wuhan, China, where Cummins’ manufacturing operations are shuttered.
Power management company Eaton Corp. missed analyst estimates in the fourth quarter, partially because of weakness in the automotive sector and a $50 million warranty charge.
USA Truck’s shares fall after another earnings disappointment. New turnaround initiatives were quantified on the company’s conference call.
Cass Information Systems reports a 6% year-over-year decline in transportation invoices but manages to post another full-year earnings record.
USA Truck reports another worse-than-expected loss as it revamps the company.
Daseke updates guidance, lowering the expected fourth-quarter loss. The company’s restructuring remains on track.
Aptiv’s Q4 2019 U.S. revenue stood at $3.6 billion, a decrease of 1% year-over-year.
Volvo Group reported a significant jump in its fourth-quarter income, but truck orders and net sales declined compared with 2018 numbers.
Landstar’s insurance and claims expense line hit first-quarter results, and another fatal accident results in guidance well below analysts’ expectations.
Railroad giant Norfolk Southern Corp.’s fourth-quarter profit declined 5% as the company hauled 9% less freight, officials said. Norfolk Southern (NYSE: NSC) reported its operating and financial results for the […]
Covenant Transportation continues to reallocate equipment to units with a lower risk profile like dedicated.
Covenant Transportation sees significant year-over-year decline in earnings as excess capacity and higher costs persist.
Spare aircraft engine dispositions stave off weakened demand for railcars in North America.
Procter & Gamble (NYSE: PG) released its fiscal year 2020 second-quarter results ahead of the opening bell on Thursday. The Cincinnati-based consumer products giant reported $18.2 billion in quarterly sales, […]
Asset quality mostly improved but net interest margin compressed by 62 bps.
J.B. Hunt’s fourth quarter call addresses some challenges facing its brokerage and intermodal businesses.
J.B. Hunt reports lower-than-expected earnings in the fourth quarter as weaker market conditions and increased investment weigh on results.
Outlook for future improvement to earnings is still hazy as Morgan Stanley analyst lowers fourth-quarter estimates for most transportation companies.
While the truckload carriers are happy to turn the page on 2019, investors in truckload stocks may be hoping for more.
The biggest truckload carrier in the U.S. Knight-Swift cuts its fourth quarter 2019 earnings outlook again. The company plans to “revise” its first quarter 2020 guidance in January.
Navistar will cut 10% of its worldwide workforce even as it gained market share for the third consecutive year.
Morgan Stanley eyeing truck capacity constraints and higher rates in 2020, potentially reaching 2018 levels or higher.
Dry bulk ocean carrier Jinhui Shipping of Hong Kong and Oslo has drifted into the red according to its third quarter results. Its nine-month results indicate the company may generate a loss this year.
Canadian firm reports a largely expected 27% jump in net income in the third quarter as revenue increases 19%; CEO lauds “predictable results in an increasingly unpredictable business environment.”
Port, engineering and property giant MMC shrugged off the trade war and economic headwinds to report massive increases in revenues and profits. Analysts issued a “buy” rating.
Integrated logistics provider and ocean carrier Harbour Link saw a boost in revenues but its costs grew too, causing its profits to weaken in the most recent quarter. A weak result in its ocean shipping division was a drag on profit as well.
Integrated logistics services provider Tasco, a subsidiary of Yusen Logistics and an NYK Group company, has reported flat second quarter revenues and costs but a surge in net profit. Its six month figures don’t look so great though and equities analysts are disappointed.
Dry bulk ship operator Malaysian Bulk Carriers has reported another set of losses. Barring unexpected positive developments, it may make a yearly loss. It is also reducing both long-term and current assets. The company has entered into working capital deficiency.
Sino-Malaysian services provider Integrated Logistics (trading as Integrated Group) has announced another poor set of financial results. It looks set to deliver its fifth full-year loss in six years.
Despite solid revenues, costs at CJ Century Logistics surged and the company has reported a third consecutive quarterly loss.
ZIM reported a $5 million profit in the third quarter of 2019, saying it benefited from its cooperation with Maersk and MSC.
Target Corporation (NYSE: TGT) saw its stock surge after the retailer reported sales growth and traffic surges for both its physical stores and its digital offerings.
Lowe’s announces plans to make leadership changes and close 34 stores in Canada. The home improvement retailer increased earnings guidance for fiscal 2019.
Box-port operator Asian Terminals has seen a massive surge in nine-month revenues and profits but it has also witnessed a downturn in the third quarter of 2019.
The Home Depot, Inc. reels in full year sales expectations due to timing of investment initiatives. Management expects broad-based growth to continue as consumer discretionary spending remains steady.
COSCO Shipping International (Singapore), a logistics-focused arm of COSCO, reports a big hit to its third quarter profit after tax. But the company nonetheless has big regional expansion plans.
Global logistician Agility has reported an increase in its third quarter revenues and a surge in net profit. However, cargo volumes fell. The company boosted its finances through higher yields and a strong contribution from its infrastructure businesses.
Chinese e-commerce heavyweight JD.com reports strong growth across its platform, a trend the company expects to continue.
India’s largest commercial ports operator, Adani Ports, reported a substantial increase in its company and port-segment revenues. Company and port-segment profits have also markedly increased.
The world’s largest retailer, Walmart, reports quarterly results ahead of expectations and raises its earnings outlook for fiscal 2020.
Revenues were down, costs were flat, profits were down. It was largely an unhappy first half financial year for Singapore Shipping.
Pan Ocean, a mixed-fleet ocean shipping carrier, reported a double-digit revenue decline but experienced a double digit surge in profits in the third quarter of 2019 when compared to the third quarter in 2018.
It’s a largely good set of third-quarter results for the Philippines-based but globally operating container terminal operator ICTSI. “Strong financial performance,” says President and Chairman Enrique K. Razon. On a nine-month basis, the growth surge is pronounced.
Radiant Logistics posts a good quarter, but warns that peak shipping season isn’t shaping up heading into the holidays.
Daseke, Inc. reports a large loss amid operational restructuring and weaker flatbed demand. The company announces new initiatives as its reorganization continues.
Ocean shipping terminal operator Westports of Port Klang, Malaysia, has reported a surge in third quarter revenues and a jump in profit before tax. Analysts are… less than impressed.
Singapore stock exchange-listed ship lessor First Ship Lease reported essentially flat revenues for the third quarter of 2019, but it also announced a swing back into profit. A combination of higher revenues and cost cutting delivered the positive result.
Demand headwinds for agricultural and transportation equipment were the factors behind Cervus Equipment’s operating loss in the third quarter of 2019.
Fuel card and business payments provider, FLEETCOR, reports increases in fuel and toll revenue. Management said that they are seeing general softness across all trucking markets, domestically and abroad.
Semi-trailer manufacturer Wabash National reported higher revenue and profits in the third quarter led by growth in its final mile and commercial trailer segments.
Roadrunner’s third quarter earnings report resembled a triage list indicating that the company’s restructuring path will be a bumpy one.
Titanium Transportation Group sees weaker trends in the quarter, but manages to post a modest profit.
Uber Freight sees loads more than double on a year-over-year basis, but the division’s losses increased as well. Investors will now likely mull over these results as the company’s stock lock-up expiration approaches.
U.S. Xpress cites a weaker spot market and compressed brokerage margins as reasons for the third quarter loss. However, the decision to grow its fleet, a portion of which is reliant on the spot market, drew several questions from analysts on its call.
With the bulk of its final mile business shuttered and its tractor fleet right-sized, management believes that the company is on solid footing to see improvement in 2020.
FreightCar America sees net loss more than double as it navigates the downside of railcar demand. The company’s cost restructuring remains on track.
Hong Kong-based port operator Cosco Shipping Ports (HKEX: 1199) has announced mixed results for the third quarter of 2019. Revenues were flat and profits were down. But box volumes rose. And analysts are bullish on the stock.
While Hub Group reported a
good quarter, its near-term outlook is pretty rough. In short, Hub Group doesn’t see a peak season coming in 2019.
Heartland Express continues to perform. The carrier posts another solid quarter in the face of a “softer” environment.
Orbcomm, Inc. (NASDAQ: ORBC) sees its shares sell off after its quarterly report. The company’s transition to subscription service, and the accompanying delay in revenue, appears to be weighing on investor sentiment.
Hutchison Port Holdings Trust (SGX: NS8U), a Singapore Stock Exchange-listed container terminal operator active in Hong Kong and mainland China, has reported a small decline in unaudited revenues for the nine months to September. That led to a 5% fall in profit after tax.
Canadian e-commerce company plans to scale its nascent U.S. Fulfillment Network in 2021, leveraging third-party warehouses and a robot-enabled platform from recent 6 River acquisition.
Fewer cargoes, lower freight rates, higher fuel costs and the consequences of operating a smaller fleet during a time of a slowdown in world trade has led intra-Asia specialist, Samudera Shipping (SGX: S56 / SAMU.SI), to report a net loss for the third quarter of the year.
CEO Alain Bedard says company may buy more firms in the United States as it looks to bolster underperforming logistics and final mile units and clean up market.
Canadian and U.S. trucking units continue to squeeze revenue and profits from uneven freight market as LTL and last-mile deliver uneven performance.
Trinity Industries Inc. (NASDAQ: TRN) reported third-quarter net income of $49 million and earnings per share (EPS) of $0.39, compared to net income of $27.9 million, and EPS of $0.19 […]
