Trucking executives at large fleets acknowledged a weakening spot market during the first-quarter earnings season but their ties to the contract market give them confidence.
Traton Group is glad it bought Navistar when it did. The U.S. truck and bus maker is helping offset war and other issues at the German holding company.
Werner Enterprises continues to see solid contractual rate increases. However, it warned that newly minted carriers dependent on the spot market are likely in trouble.
TuSimple, the autonomous truck developer is delaying its purpose-built driverless truck to 2025 while slowing its roll in other areas.
Management from flatbed provider Daseke said April was “strong,” a continuation of the better-than-expected performance it recorded in the first quarter.
Cummins Inc. expects to keep raising prices to stay ahead of inflation in the materials it buys for engines and powertrains.
USA Truck posted its seventh consecutive quarter of record earnings Thursday and expects 2022 to be another record year, James Reed, president and CEO, said during a call with analysts Friday.
Management from ArcBest said positive yield actions are allowing it to keep reinvesting in the network, which will continue to improve service and margins.
ArcBest easily beat first-quarter expectations Friday. The positive revenue trends have carried through April.
Arkansas-based USA Truck produced the best first-quarter earnings per share in the company’s 29-year history and the seventh consecutive quarter of record earnings.
Schneider beat estimates and raised full-year expectations Thursday. Management has been “encouraged” by contractual rate renewals so far this year.
Forward Air beat first-quarter expectations and pulled forward 2023 financial targets by a full year.
Robinson’s global forwarding network, years in the making, is having its moment in the sun.
Less-than-truckload carrier Old Dominion beat first-quarter expectations Wednesday. The company moved one step closer to doing “something that they said couldn’t be done.”
Q1 sales and earnings at the parent of Kenworth, Peterbilt and DAF Trucks posted records despite persistent supply chain issues.
Volvo reported record Q1 truck sales despite ongoing supply chain interruptions. The company took a $423 million charge for suspending Russia business.
Truckload carrier Heartland Express beat first-quarter expectations Thursday.
Management from Landstar System is predicting “another great year” even as spot market fundamentals loosen.
Knight-Swift Transportation lays out a thesis showing how large carriers will navigate a potential downturn considerably better than small fleets.
P.A.M. Transportation Services saw significant growth in its truckload and brokerage units during the first quarter.
Logistics real estate operator Prologis beat first-quarter estimates and raised its outlook for the year. The company sees no near-term loosening in warehousing markets.
Logistics real estate heavyweight Prologis beat first-quarter expectations and raised full-year 2022 guidance on Tuesday.
On its first-quarter call with analysts, management from J.B. Hunt said demand indications from customers have been strong. The path is likely not as easy for smaller players in the space.
J.B. Hunt Transport Services reported first-quarter results well ahead of analysts’ forecasts Monday after the market closed.
Cowen analyst lowers earnings estimates for truckers as data showing a loosening market mounts.
Swedish truck maker AB Volvo halted its business in Russia because of the invasion of Ukraine. Now it is counting the cost.
Concerns on declining demand and falling freight rates prompted Bank of America to issue ratings downgrades for multiple transportation stocks.
Out of the shadow of Mercedes-Benz cars, independent Daimler Truck showed financial resilience despite supply chain headwinds.
Management from cold storage warehouse operator Americold addresses concerns about decelerating trends and a soft 2022 outlook.
Electric truck maker Nikola projects it will build 300-500 battery-electric trucks this year and post up to $150 million in revenue.
Multiple fleets placed deposits for 100 extended-range Hypertruck ERX units as Hyliion Holdings declared it has enough money for a late 2023 launch.
Food delivery platform DoorDash reported mixed earnings for Q4 2021 and FY2021 after the bell on Wednesday.
Digital broker Transfix posted record results for 2021. The company’s public listing is on track for the second quarter.
Management from Radiant Logistics said it has several levers at its disposal to boost the company’s valuation.
Universal Logistics inks a record year despite challenges. Implied 2022 earnings guidance surprises to the upside by 20%.
TuSimple says its autonomous trucking software is “feature complete” and it will expand driverless trucking beyond a pilot program.
Forward Air head Tom Schmitt was bullish about the company’s prospects on a call with analysts Thursday. Forward is already on track to achieve recently issued 2023 targets ahead of schedule.
In its earnings report for Q4 2021 and FY2021, Uber revealed that its delivery segment once again brought in more revenue than its core mobility business.
Trimble expects organic revenue growth in 2022, despite the ongoing impact of constrained supply chains across the global economy.
“Across the board, our businesses showed momentum and ended the year on a strong note,” said Charles Freund, CFO at Fleetcor.
TForce Freight pickup and delivery drivers will be driving less and taking on more freight as TFI International pushes efficiency in its U.S. LTL operation, says TFI’s CEO.
USA Truck beats fourth-quarter expectations and plans to grow revenue through expanding capacity east of Interstate 35 and doubling logistics business.
Werner Enterprises beat fourth-quarter expectations and announced plans to grow revenue by 10% on average over the next five years.
USA Truck Inc. rode a robust freight and pricing market to revenue of $200.9 million and earnings per share of $1.38 during the fourth quarter.
Schneider provided a better-than-expected earnings outlook for 2022 on Thursday. The company also raised margin targets in two key segments.
Less-than-truckload carrier Yellow Corp. reported better-than-expected adjusted fourth-quarter results Wednesday after the market closed.
Wabash retires its legacy brands to focus on the company name as its swollen backlog all but closes 2022 order books except for multiyear purchases.
Less-than-truckload carrier Old Dominion raised its long-term margin target when it released better-than-expected fourth-quarter earnings Wednesday.
Despite strong revenue growth, freight broker productivity fell sharply.
ArcBest raised long-term expectations Tuesday in conjunction with its fourth-quarter results, which were better than expected. The company now eyes doubling its size by 2025.
ArcBest on Tuesday reported fourth-quarter results, which once again outpaced analysts’ expectations.
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Covenant Logistics Group said revenue for the second half of 2022 could be impacted by wage pressures and higher equipment and over-the-road repair costs.
The Chattanooga, Tennessee-based truckload carrier said the outlook is for continued operational progress during 2022.
Freight broker Landstar closes 2021 with another beat-and-raise quarter. Demand has yet to buck normal seasonal trends, indicating the first quarter will be strong as well.
Knight-Swift Transportation reported another big quarterly result Wednesday. However, it appears the stretch of rapid growth will moderate as the comps have stiffened.
Management from the nation’s largest flatbed operator, Daseke, says the demand backlog extends for “the foreseeable future.”
Paccar Q4 new truck deliveries were up 45% over Q3, suggesting some easing of supply chain disruptions and semiconductor shortages.
FreightWaves reports very positive financial performance in 4Q 2021.
Heartland Express announced 2021 was its best year since going public. Fourth-quarter results were in line with consensus.
P.A.M. Transportation Services finished 2021 on a high note, posting another large earnings beat during the fourth quarter.
Prologis provided better-than-expected 2022 guidance on Wednesday, citing the expectation that demand will continue to outpace logistics real estate additions during the year.
Logistics real estate investment trust Prologis issued 2022 guidance ahead of expectations on Wednesday.
J.B. Hunt Transport Services beat fourth-quarter expectations. Visibility into 2022 remains murky but management is calling for continued growth.
J.B. Hunt’s fourth quarter comes in ahead of consensus as the intermodal, brokerage and truckload divisions see notable year-over-year improvements.
Supply chain visibility provider project44 sees record top-line growth during the fourth quarter, with bookings, account wins and retention coming in better than expected.
AskWaves looks at some of the catalysts that have heated up M&A in the transportation space.
Less-than-truckload carrier Yellow Corp reports the weakest revenue trends out of the public carriers providing fourth-quarter updates.
Forward Air’s initiative to upgrade its freight mix to a heavier class of premium cargo was evident in November results.
Truck broker Landstar System announced Wednesday it will use 2021’s record performance to pay shareholders a $2-per-share special dividend.
Less-than-truckload carrier Old Dominion said share-taking efforts led to revenue growth ahead of its peers during November.
Radiant Logistics announced Monday that it acquired digital logistics services provider Navegate for $35 million.
Intraquarter updates from less-than-truckload carriers show record third-quarter operating conditions have continued through the first two months of the fourth quarter.
Picking transport stocks in 2022 will not involve a blanket approach, according to Deutsche Bank. However, there are still several companies with significant upside potential.
Berkshire Grey’s revenue was up 750% year-over-year, but it still missed on analyst expectations, more than tripled its net loss and more than doubled its adjusted-EBITDA loss.
Parts shortages delay winter testing of Hyliion’s Hypertruck ERX while Cummins’ competition casts doubt on the future of the startup’s current Hybrid eX.
Both Uber Eats and DoorDash surprised investors, but not in the ways one might think.
Third-party logistics provider Radiant Logistics again posted record quarterly results on Tuesday. On a call with analysts and investors, company officials called out strength in virtually every segment Radiant serves.
Domestic headwinds were balanced out by an international expansion as DoorDash stock popped 10% in post-market trading.
Truckload carriers booked record gains on the sale of revenue equipment during the third quarter but the profits shouldn’t be viewed as artificial earnings.
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Editor’s Note: Updates with closing stock price Nikola Corp. set aside $125 million to potentially settle a Securities and Exchange Commission complaint but will seek to get indicted founder Trevor […]
Trimble Inc.’s third-quarter revenue and adjusted earnings per share topped analyst expectations in a challenging supply chain environment.
Fleetcor’s third-quarter adjusted earnings per share grew 26% year-over-year, while new sales bookings grew 52% in the same period.
Yellow Corp. rode a hot freight market and an internal overhaul to positive net income for the first time in several quarters.
Engine maker Cummins reduces its outlook for the full year amid the supply-constrained inability to meet elevated demands.
ArcBest reported record quarterly results on Tuesday, and management sees the possibility of incremental improvement moving forward.
ArcBest posted record quarterly results for the third time this year on Tuesday. Each of its segments reported double-digit top-line growth.
Arkansas-based carrier’s trucking segment posted revenue of $113M and brokerage division posted revenue of $81M in Q3.
Universal Logistics misses third-quarter expectations and said it will look to its customers to address wage inflation and accessorial charges at the ports.
In its last quarter as part of Daimler AG, Daimler Truck reported higher unit sales but lower revenue.
Notable cost headwinds around driver sourcing and equipment downtime weighed heavily on Werner Enterprises’ third-quarter results. But the carrier still raised long-term margin expectations.
Forward Air took an aggressive step Thursday, issuing sizable earnings growth guidance through 2023. Upgrading the freight mix has management confident in the extended outlook.
The CEO of Canada trucking giant Mullen Group says the cost of freight in the country is set to press upward amid high demand, tight capacity and the end of wage subsidies.
Management from Schneider National told analysts on its third-quarter earnings call that current truckload fundamentals should carry through the end of 2021 and well into next year.
Traton Group is optimistic for future quarters as it posts solid nine-month results with recently acquired Navistar included for the first time.
Old Dominion expects the costs of growing at such a fast pace will linger for a while. The company beat third-quarter estimates and doubled down on its share-taking strategy.
Paccar made up for the loss of 7,000 deliveries in Q3 through record parts profits and higher prices for used trucks.
Specialized and flatbed carrier Daseke posted better-than-expected third-quarter results Friday. Management said the company is working on a couple of acquisitions.
Covenant Logistics Group’s managed freight segment revenue grew 89% year-over-year during the third quarter, to $90 million.
