Murray Mullen suggests freight market weakness could take carriers out of business, but says his company is ready to jump on acquisition opportunities to grow its less-than-truckload business.
The company warned of its upcoming poor performance in September but still missed analyst’s earnings estimates.
In a tough freight environment, the Chicago brokerage outpaced Wall Street’s expectations.
Covenant blames weak freight environment for drop in revenue and net income in third quarter 2019.
J.B. Hunt Transport Services reports earnings light of expectations, but cost headwinds from digital platform transformation appear to be the primary culprits.
P.A.M. Transportation Services calls out GM strike as the primary reason the carrier failed to meet earnings expectations.
Knight-Swift Transportation lowered its third and fourth quarter 2019 guidance amid intermodal and truckload woes. However, some analysts find this as a reason to celebrate.
Earnings estimates continue to be cut by equity analysts, however their outlook for the stocks is positive.
Radiant Logistics, reported several records for fiscal 2019, but the company would most like to make an acquisition or two.
Two of the nation’s largest truckload carriers said they are seeing green shoots in freight demand.
Landstar System warns on earnings due to a “tragic vehicular accident” and weaker than anticipated market conditions.
Integrated bulk, rail, trucking, box, warehousing and ports operator, Qube (ASX: QUB), has announced weighty full year earnings of A$1.73 billion (US$1.5 billion). It also made net profit after tax of 15. 4 percent to A$123.2 million. But it sees a subdued economy ahead…
Cathay Pacific expects “a much more significant impact” to revenue in August as recent unrest in Hong Kong will likely weigh on its financial results.
Target provides an optimistic shot in the arm as the mega-retailer reports a strong quarterly performance and raises its full-year outlook.
Logistics provider LBC Express (PSE: LBC) of Manila, the Philippines, has reported a massive rise in revenues in the second quarter of 2019 but a big slump in net profit after tax.
Global logistics provider Agility (DFM: AGLTY) reported a 20 percent increase in net profit for the second quarter of 2019. Agility reported a more modest rise in revenues.
As the world’s largest retailer, the company is often seen as a bellwether for the overall retail landscape.
Avianca continues to dispose of aircraft during its financial restructuring.
Earlier today in Europe, Danish shipping giant A.P. Moller–Maersk (NASDAQ: Maersk A; NASDAQ: Maersk B) reported a massive increase in second quarter profit and earnings before interest, tax, depreciation and amortization. Revenues “grew slightly,” the shipping mega-conglomerate said.
Canadian transportation firm posts a 19 percent drop in revenue on tougher freight market on both sides of the border.
Manila, Philippines-based international container terminal operator, ICTSI (PSE: ICT) has reported a massive increase in profit and a substantial increase in revenues for the first half of 2019.
Japanese gas explorer, prospector and transporter INPEX (JPX: 1605), which is listed on the Tokyo Stock Exchange, announced a solid upswing in revenues, operating income and net income.
Americold Realty Trust sees favorable refrigerated warehouse supply and demand dynamics continuing.
Continued weakness from its Canadian Peterbilt dealerships adds to steep decline in Alberta company’s agricultural equipment business.
Uber’s second quarter as a public company saw a loss much worse than the consensus estimate. Revenue increased significantly at Uber Freight, so did the losses.
Old Dominion reported continued LTL volume weakness in July. Near-term volume relief may be hard to come by as domestic and global macroeconomic trends remain tepid.
Lyft reported revenue well ahead of estimates and commented that continued improvement in market conditions, which may mean lower rider discounts and an easing competitive landscape, prompted the improvement in guidance.
Cathay Pacific is the latest in a string of airlines to cite trade tensions as the reason for plummeting cargo segments.
Roadrunner Transportation Systems reports another large operating loss and announces that it will narrow its focus to its logistics and asset-light LTL segments.
North Asia revenues were down 8.5 percent, but EXPD improved productivity.
Daseke lowers its full-year 2019 outlook citing worse than expected results in its flatbed division.
U.S. Xpress sees a tough second quarter, but expects industry fundamentals to firm as excess capacity exits the market.
Oshkosh Corp. has a green light from the U.S. Army to enter full production of its Joint Tactical Light Vehicle that will replace the HUMVEE in war zones.
The company reported diluted earnings per share (EPS) of $0.53, $0.01 short of estimates and $0.02 higher than the second quarter of 2018.
Wabash National says it has $1.2 billion of trailers in its production backlog with cancellations at normal levels and demand robust.
Hub Group believes “soft” intermodal volumes will begin to flatten out and that the 2019 peak shipping season will be similar to that of 2017.
The company attributed the revenue slip to pricing and volumes, especially on routes between Europe and Asia.
Ryder Systems Inc. posted strong second-quarter revenue but reduced its second-half earnings guidance on weakness in used truck sales and rentals.
Power management company Eaton Corp. reported higher second-quarter sales and earnings despite declines in its vehicle segment.
The Procter & Gamble Company (NYSE: PG) reported its strongest quarter of organic sales growth in over a decade.
Werner’s second quarter was $0.01 light of consensus and the company lowered its pricing forecast for the rest of 2019.
BorgWarner sales and income declined in the second quarter but revised downward guidance for the rest of the year hammered shares.
Landstar missed the bottom-end of its guidance range as expected. The company sees weakness in truckload fundamentals continuing through the third quarter.
Covenant released earnings results in-line with its previously lowered expectations as it seeks “predictability” in its operations for the remainder of 2019.
ECHO faced a tough quarter with soft spot volumes and unexpected tightness in June.
Knight-Swift reported results within its recently lowered guidance range and doubled down on its estimation that the TL capacity correction is underway.
Truck sales and profits were a bright spot in an overall dismal second quarter for Daimler AG, parent of Mercedes-Benz Cars and Daimler Trucks.
Manhattan Associates stock pops on an earnings beat and a guidance raise. Management brushed back concerns around tariffs, Brexit and other potential geo-political concerns as potential risks to its new targets.
PACCAR Inc. added to a string of beating analyst revenue estimates in the second quarter but fell 3 cents short on earnings per share consensus. PACCAR set records across the board in the period ending June 30.
Canada’s largest transportation and logistics company releases second-quarter results on July 25.
The clean balance sheet and deteriorating fundamentals in the TL space that could force some carriers to look for the exit begs the question, ‘will we see Heartland become acquisitive again?’
The railcar leasing company posted diluted earnings per share (EPS) of $1.86, up from $1.01 in the second quarter of 2018
Panalpina’s worse than expected results appear to be largely due to the company being picked off by its competitors as its customers wait to see how the merger with DSV shakes out.
This is the fourth consecutive quarter IBM has reported falling revenues.
The combination of volume weakness, excess capacity, declining rates and formidable year-over-year earnings comparisons have resulted in the public carriers finally waving the white flag and acknowledging that 2019 will be a struggle.
Another shoe drops as the heart of truckload earnings season commences with Knight-Swift saying that it won’t meet analyst expectations.
Jim Blaze writes about earnings season for the railroads, and what investors, customers and employees should be looking and asking for in the railroads’ quarterly earnings reports.
Bascome Majors says contract rates will be under downward pressure for the rest of the year, but spot rates may have already turned up.
U.S. Xpress lowered its financial outlook for the second quarter 2019 as well as the full year.
GBX management explains soft guidance and provides outlook for sequential earnings improvement.
Sealed Air announced the for cause termination of its Chief Financial Officer, William G. Stiehl, as an investigation into its accounting and financial reporting practices continues.
Daimler AG announced a “high-three digit million” hit to second quarter 2019 earnings related to ongoing expenses to remedy its diesel emissions woes.
Forward Air Corp. lowered its second quarter 2019 earnings expectation due to a $5 million accident claim reserve recorded in the quarter.
Eroding fundamentals in the truckload carrier market have led analysts to lower their earnings estimates for the carriers they cover.
A great deal of focus has been placed on the seasonal weakness in TL volumes, but LTL volume weakness is equaling concerning.
Landstar announced that it may not be able to meet the low-end of its guidance range as truckload spot market fundamentals remain weak.
On its earnings call, NAV walked through its earnings outperformance and provided some highlights on the business and its increased guidance.
Navistar reported adjusted earnings per share of $1.06, $0.18 higher than the consensus estimate and raised its 2019 guidance.
Deadly crash treated as a potential murder/suicide; Mainfreight reports US$1.93 billion of revenues; druggy truckie gets 14 months; freight costs revealed.
Other Bets revenue, primarily consisting of Uber Freight, increased 263 percent year-over-year to $145 million.
South Korean ocean carrier HMM may have a shiny new corporate identity but its first quarter results were written in the same dreadful red ink as last year. Although the ocean carrier generated large increases in revenues, its costs surged, which led to large losses in the first three months of 2019.
The retail giant’s U.S. same-store sales were up 3.4 percent, its highest first-quarter results in nine years and fourth consecutive quarter over 3 percent.
Third-party logistics and multimodal transportation services company, Radiant Logistics, Inc. (RLGT), reported earnings of $0.11 per share for the quarter ending March 31, 2019 (RLGT’s third fiscal quarter 2019), $0.04 […]
YRC Worldwide (NASDAQ: YRCW) posted a $31.7 million consolidated operating loss on first-quarter revenue of $1.182 billion, which declined slightly from first-quarter 2018 revenues of $1.215 billion. In first quarter […]
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 […]
C.H. Robinson officials said their business model and technology has allowed the company to adapt through multiple cycles.
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.
Tokyo, Japan-based ocean carrier, Kawasaki Kisen Kaisha http://kline.com/ (TYO:9107) has recorded a fall in revenues of Japanese Yen of 325,293 million down to JPY 836,731 million (US$7.5 billion) for the fiscal year ending March 31, 2019. Several board members have been removed.
Japanese transport company, Nippon Yusen Kabushiki Kaisha (NYK Line) (JPX:9101) has today reported a loss of approximately US$400 million (Japanese Yen 44.5 billion) for the year ended March 31, 2019. Following the red ink bloodbath, the company has replaced the chairman, president and representative directors.
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.
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.
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.
SAP posted impressive growth in cloud revenue while avoiding a concomitant drop in licenses.
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.
After posting record earnings for the fourth quarter of 2018, the company is expecting its first quarter earnings to take a hit from lowered demand in the early months of 2019.
International terminal mega-operator, DP World, has announced a solid set of results for 2018. Revenues, earnings before interest taxation depreciation and amortization (EBITDA), and net profit all substantially increased last year compared to 2017. Acquisitions and increased box volumes drove revenues and profits. DP World has announced investment plans for 2019.
International Container Terminal Services (ICTSI) has released solid results for 2018. The port and terminal operator, which is headquartered in Manila, Philippines, had an up-up-up 2018 compared to 2017. ICTSI’s box volumes were higher, revenues increased and the group generated higher profit.
Marseille, France-based maritime container shipping giant CMA CGM generated record revenues of over USD$23 billion but suffered a huge 91 percent slump in profitability after the group experienced several massive cost increases.
A series of company earnings from New Zealand shows that the international maritime trade to and from the Pacific archipelago is largely strong, especially for the bigger ports, but the smaller ports have experienced some downturns in trade.
North America On-Highway and Defense softened sequentially, and management thinks the company will make much less money in 2019.
Sydney, Australia-headquartered customs and logistics software provider WiseTech Global yesterday released details of massive increases in revenues and profits. ASX-listed WiseTech reported that total revenues increased by 68 percent.
Brambles, a supplier of reusable pallets, crates and containers for the supply chain industries, recorded strong revenue growth but its profit was much lower in the first half of its financial year, according to results released to the Australian Stock Exchange.
USX shifted its fleet away from over-the-road toward dedicated and lowered its adjusted operating ratio to 92.5%.
Today’s selloff on soft revenue growth guidance went too far, according to Stifel’s Bruce Chan and Susquehanna’s Bascome Majors.
Old Dominion’s operating ratio (OR) improved 520 basis points in the fourth quarter, moving from 83.9 percent to 78.7 percent year-over-year. This is the third quarter in a row the company has posted an OR under 80 percent.
Werner Enterprises (NASDAQ: WERN) reported strong earnings in the fourth quarter of 2018, posting a diluted earnings per share (EPS) of $0.77. This topped analyst expectations, with the average estimate of 10 analysts surveyed by Zacks Investment Research coming in at $0.68.
After a day of choppy trading, a consensus seemed to emerge that CHRW was well-positioned to grow net revenues even in a re-balancing freight market.
A number of analysts have stepped forward and issued counterarguments to a negative report on Thursday about XPO, and the company itself has announced a share buyback program.
Rush Enterprises posted an increase in second-quarter revenue buoyed by strong used-truck sales and significant growth in its aftermarket business, which accounts for 64.8% of the company’s gross profits.
