Volvo Group set a fourth-quarter record for deliveries, but the OEM said supply chain disruptions and energy costs would impact business.
Covenant Logistics Group missed fourth-quarter expectations even when excluding expenses incurred onboarding equipment.
Paccar Inc. posted record revenue and profits across the board in the fourth quarter, belying predictions of an economic slowdown.
Prologis says warehouse rents will step higher again in 2023.
Management from J.B. Hunt sees the potential for a rebound in freight markets by the back half of 2023.
J.B. Hunt recorded a huge headline miss in the fourth quarter. However, excluding what may be a nonrecurring claims expense, the result was more subdued.
Bank of America analyst Ken Hoexter now has a buy rating on most of the truckload carriers he follows.
Morgan Stanley said trucking fundamentals could be “bottoming” in a Monday note to clients while Susquehanna called it quits on several stocks.
Even though the final piece of XPO’s breakup has been put on hold, the company’s bullish growth ambitions for less-than-truckload have not changed.
Yellow is seeing large tonnage declines continue as the fourth quarter advances.
Asset-light less-than-truckload provider Forward Air sees tonnage fall off sharply in November.
Descartes said demand for supply chain visibility tools remains strong amid uncertainty in the broader economy.
Less-than-truckload tonnage declined at an accelerated pace through November.
The deceleration in less-than-truckload tonnage during the fourth quarter is worse than analysts expected.
Less-than-truckload demand has taken another step lower, according to carriers attending the Stephens investor conference.
Radiant Logistics said Wednesday it needed more time to complete a restatement of financials and submit results to the SEC.
Flatbed hauler Daseke said its trucks remain “booked solid” and that it will look to use cost and efficiency initiatives to improve results again in 2023.
The $3.3 billion acquisition of Meritor Inc. took a bite out of Cummins’ Q3 earnings as did underperforming joint ventures in China.
Nikola Corp. is laying off 7% of its workforce and slowing electric production because making more increases the loss.
Logistics real estate operator Link Logistics said “broad-based demand” further narrowed vacancy rates and produced record lease spreads in the third quarter.
Werner Enterprises has built a model to perform on the downside of the cycle. Management believes the carrier may be better positioned to do so than in the past.
Less-than-truckload carrier Yellow Corp. navigates second year of volume declines amid network overhaul.
Supply chain technology provider Trimble Inc.’s transportation revenue dropped 10% in the third quarter.
Heartland Express said recent fleet acquisitions will take three years to match the level of its legacy operations.
Forwarding income from operations was nearly cut in half and truckload prices to customers fell by double digits year over year.
TravelCenters of America Inc. announced Tuesday it topped $2.8 billion in revenue for the third quarter.
ArcBest beats expectations in a noisy third quarter. Tonnage declines and cost inflation during the fourth quarter will put the model to the test.
Truckload carriers prepare for the other side of the freight boom.
Less-than-truckload carrier Saia slightly missed third-quarter expectations and noted volumes softened as the quarter progressed.
XPO Logistics’ third-quarter results were at the high end of preannounced ranges. The fourth-quarter outlook calls for continued growth but with some cost pressures.
Daimler Truck now thinks it will earn more money in 2022 because parts shortages are improving and its backlog-to-build schedule is shrinking.
Schneider National beat expectations for the third quarter but pulled in guidance as peak season is likely to be “muted.”
Forward Air highlights several growth opportunities that will push results higher again in 2023 even if the economy slows further.
Kuehne+Nagel is the largest logistics company in the world. It sees opportunities to capture more business as shipping demand falls.
Trailer and final-mile equipment maker Wabash crushed third-quarter earnings estimates and built its backlog for a rainy day.
Old Dominion said Wednesday that it’s likely more than half way through this volume downturn.
The maker of Kenworth, Peterbilt and DAF Trucks reported record Q3 net income on strong across-the-business performance.
Truckload carrier P.A.M. Transportation Services reported better-than-expected third-quarter results on Thursday after the market closed.
Volvo Group posted solid Q3 results but said ongoing supply chain issues will cause shutdowns and raise prices.
Broker Landstar System reported another strong performance in the third quarter. However, the company now comps to the peak of the freight boom.
Knight-Swift Transportation missed analysts’ forecasts for the third quarter and dialed down expectations over the near term.
Logistics warehouse operator Prologis lowered expectations for 2022 but remains confident that any macro-induced decline in fundamentals won’t keep rents from growing again next year.
Prologis posted record results during the third quarter but reeled in guidance given “an uncertain economic backdrop.”
J.B. Hunt Transport Services beat third-quarter expectations Tuesday but said that cooling freight demand will place greater scrutiny on cost control moving forward.
J.B. Hunt Transport Services beats third-quarter expectations on improved intermodal and dedicated results.
XPO Logistics issued long-term financial targets for its less-than-truckload segment and its brokerage unit, which will be spun off next month.
While earnings estimates remain largely intact for 2022, a September slowdown pushed analysts to take another look at 2023 forecasts.
Radiant Logistics will restate financial results for 2021 and the first three quarters of 2022, according to a filing with the Securities and Exchange Commission.
Daseke announced Friday a transition at the CFO position and that it expects to achieve its previously announced 2022 financial targets.
Less-than-truckload provider Forward Air continues to register notable revenue growth more than one year into freight swap.
Management teams from a couple of the nation’s largest fleets share their thoughts on peak season and rates during an investor conference.
More signs of slowing in the less-than-truckload industry appeared Thursday when ArcBest provided a third-quarter update.
Inflation, a pandemic and changing consumer behavior have culminated in dramatically different Q2 results across the e-commerce industry.
Daimler Truck posted improved revenue and income in Q2 but expressed full-year concerns because of Russia’s war on Ukraine.
Hyliion still depends on its hybrid electric booster for its revenue, but the orderbook expanded 11% for the Hypertruck ERX in Q2.
Shareholder letters and earnings call transcripts don’t qualify as page-turning vacation reading. But they say a lot.
Supply chain technology provider Trimble reported transportation revenue of $150 million for the second quarter.
Werner reported revenue of $836 million in the quarter and sees a strong “pipeline” of demand from customers for the remainder of the year.
Fleetcor Technologies Inc. on Wednesday reported revenues of $861 million in its second-quarter earnings.
On Jennifer Rumsey’s second day as CEO, Cummins Inc. reported strong Q2 earnings in North America.
Uber beat earnings expectations for Q2, but its delivery business wasn’t the driver this time around.
TravelCenters of America Inc. tops $3 billion in revenue for the second quarter.
Trailer pool services are gaining adoption. Wabash, a major manufacturer of equipment, recently announced a partnership with Phoenix-based freight brokerage FreightVana to supply the company with its trailer-as-a-service (TaaS) platform.
Second-quarter cargo business softened on the margins for British Airways and its sister airlines but was still much better than before the pandemic.
ArcBest reported better-than-expected results again during the second quarter.
Cargojet says it has two built-in defenses against an economic downturn: e-commerce and unstable cargo service at passenger airlines.
P.A.M. Transportation Services reported better-than-expected second-quarter results Thursday.
Schneider National beat second-quarter expectations even with a precipitous drop in gains on sale.
Forward Air raised its earnings expectations again. Management believes it has the ability to generate higher results even in a recession.
Trailer maker Wabash is benefiting from a steady order backlog and a focus on more activity with targeted customers.
Commentary from the C-suites of trucking remains positive for the 2022 back half.
Robinson’s NAST revenue rises despite LTL volume declines and modest TL growth.
Less-than-truckload carrier Saia reports record results for the second quarter and said it has no plans of slowing its growth initiatives.
Logistics giant Ryder posted total revenue of $3.03 billion and earnings per share of $4.43 during the second quarter.
Old Dominion Freight Line’s 69.5% operating ratio during the second quarter was not only a company best but a best-ever result for a public carrier.
Despite a murky economic outlook, Covenant remains optimistic about the company’s business prospects through 2023.
Kuehne + Nagel continued profit growth in Q2 by charging customers more for extra service to keep supply chains fluid.
Covenant Logistics Group’s truckload revenue increased 29% year over year to $218 million, despite unprecedented cost inflation and higher insurance costs.
Truckload carrier Heartland Express said it expects freight demand to exceed its available capacity for the rest of 2022.
Triumph Bancorp posts strong second-quarter financial results while remaining “cautiously optimistic” for a relatively flat trucking and transportation market through the end of 2022.
Broker Landstar System missed second-quarter expectations but noted pricing metrics are holding firm.
Knight-Swift Transportation rode higher revenues and better margins in all of its divisions to a beat-and-raise second quarter.
J.B. Hunt Transport Services beat second-quarter expectations despite persistent rail congestion and supply chain bottlenecks.
J.B. Hunt Transport Services’ second quarter came in ahead of forecasts.
Temperature-controlled carrier Marten Transport rode higher yield metrics to a record quarter.
Logistics real estate investment trust Prologis on Monday pointed to some moderation in demand trends but pushed its full-year financial expectations higher.
Logistics warehouse owner Prologis reported in-line second-quarter financials Monday but full-year expectations were increased on “healthy demand.”
Less-than-truckload carrier Yellow Corp. reported another drop in tonnage during May as its terminal rationalization continues.
Old Dominion Freight Line reported a continuation in positive revenue, pricing and tonnage trends during May.
With logistics subsidiary Quiet Platforms, American Eagle is developing a unique strategy to help retailers compete with Amazon.
The high-flying darlings of 2021, less-than-truckload stocks are finding their way back to earth quickly this year.
Freight demand trends in a softening market continue to be bifurcated with large fleets remaining unscathed so far.
Target Corp. reported Q1 2022 earnings before the bell Wednesday, turning in weaker-than-expected numbers.
Yellow Corp. executives told analysts that the company’s plan to close and consolidate terminals won’t reduce capacity in its network.
Multimodal transportation provider Radiant Logistics reported record results again during its fiscal quarter ended March 31. Demand still remains healthy throughout its network.
Universal Logistics saw improvement across all of its asset-light segments during the first quarter. Its updated guidance may prove conservative.
Fleetcor’s reported first-quarter earnings Thursday include a steady retention rate of 93%.
DoorDash continues to reign supreme over Grubhub and Uber Eats as it expands its business into new categories like convenience and grocery.
Electric truck maker Nikola posted its first gross profit in Q1 and racked up orders backed by California incentives.
Supply chain technology provider Trimble reported record revenue for the first quarter of 2022.
