Landstar reports record third-quarter results and calls for a similar performance in the fourth and potentially beyond.
Chattanooga-based Covenant benefited from an exceptionally strong freight market resulting from growing economic activity, low inventories and supply chain disruptions.
A look at how Knight-Swift Transportation blew past third-quarter expectations and raised its full-year guidance.
Carriers have overcome notable cost inflation and disruption to post better-than-expected results so far in the third-quarter earnings season.
Shares of J.B. Hunt Transport Services jumped 10% Friday as the company navigated supply chain challenges during the third quarter to beat analysts’ forecasts.
J.B. Hunt Transport Services sidesteps disruption throughout the transportation network to beat analysts’ forecasts.
P.A.M. Transportation Services sees earnings surge during the third quarter even as supply chain disruption accelerates.
Heartland Express beats expectations in the third quarter with the help from gains on sale.
Morgan Stanley analyst Ravi Shanker believes rate expectations of truckload management teams haven’t been reflected in 2022 earnings estimates yet.
ArcBest’s acquisition of truckload broker MoLo Solutions accompanies an announcement of strong third-quarter results for its LTL segment.
Less-than-truckload carrier Yellow reported tonnage declines worse than its peers for the first two months of the third quarter. The carrier said it currently remains focused on driving yields higher in lieu of volume growth.
Radiant Logistics announced it closed its fiscal year in record fashion on Thursday. The company will repurchase shares and pursue acquisitions as a means of boosting valuation.
ArcBest said Wednesday an August tonnage decline in its asset-based segment was done intentionally so that it could better service its core less-than-truckload customers.
Less-than-truckload carrier Old Dominion reported strong operating trends for the first two months of the third quarter. The carrier said it will continue to reinvest in its network to achieve further market share wins.
Discount chain Dollar Tree expects the positive impact from heightened consumer demand to be totally offset by elevated transportation expenses this year.
Truckload carrier Heartland Express announced a 50-cent-per-share special dividend Friday. It was the second carrier to announce a special dividend this week.
Truck broker Landstar System points to better-than-expected truck volumes and yield trends in the third quarter as reasons to raise its outlook.
Romeo Power locks in cell supply for its commercial batteries, paying a big price to assure it can answer demand from truck manufacturers.
The company will build a limited number of trucks in the fourth quarter for validation and regulatory clearance.
Workhouse Group is reviewing its electric delivery van designs to add cargo capacity and sold most of its stake in troubled Lordstown Motors.
Temperature-controlled warehouse operator Americold pulled in its 2021 outlook, citing labor-related food manufacturing limitations within its customer base.
TuSimple is sitting on $1.5 billion in cash as it ramps up hiring and expands its autonomous freight network.
Trimble’s Q2 revenue totaled $945 million, up 29% year-over-year.
Cummins beat analysts’ Q2 estimates on the top and bottom lines as it looks into making its filtration business a stand-alone entity.
The Texas-based flatbed and specialized carrier raises 2021 full-year guidance for revenue of up to $1.6 billion.
USA Truck reported second-quarter net income of $4.2 million, after reporting a loss of $900,000 in the same period a year ago.
The Omaha, Nebraska-based transportation and logistics provider reported second-quarter adjusted earnings of 86 cents per share.
Forward Air posts a quarterly record for operating income and revenue in the second quarter.
“Our logistics segment has been thriving and growing, including contract logistics and port services, with the largest contributor being brokerage,” says Schneider CEO.
As Wabash National streamlines its business, the trailer manufacturer will convert reefer capacity to add 10,000 dry vans in 2023.
Peterbilt, Kenworth and DAF Trucks are sold out globally for 2021 as the global semiconductor shortage leaves 6,500 trucks awaiting parts.
Pollution credit sales are less of a factor as vehicle profitability at Tesla shifts to overdrive in Q2.
TFI International beats analysts in the second quarter as its U.S. LTL division left its days as UPS Freight in the dust.
Covenant Logistics Group beat second-quarter earnings expectations and said the second half of the year is likely to produce stronger results.
Covenant Logistics Group reported a better-than-expected second quarter as freight demand remains elevated and capacity is in short supply. The company said the favorable conditions have carried into the third quarter.
Canadian trucking and logistics firm Mullen Group reported strong growth in the second quarter from a combination of a robust freight market and acquisitions.
Freight broker Landstar System sees continued strength in consumer spending push freight demand higher during the second quarter. The company posted its best quarterly results ever Wednesday after the market close.
Knight-Swift Transportation beat second-quarter estimates and raised its full-year guidance to include the favorable operating environment in addition to accretion from recent acquisitions. However, the improved outlook includes the expectation for continued cost headwinds around labor.
J.B. Hunt Transport Services beat second-quarter expectations Monday. However, the back half of 2021 will depend on how well the railroads and shippers can improve their operations.
J.B. Hunt Transport Services reported better-than-expected second-quarter results Monday as the company saw double-digit revenue growth in all divisions when compared to the year-ago period, which contained widespread lockdowns from COVID protocols.
Prologis’ second-quarter results exceeded analysts’ expectations, and guidance moved higher as property rents are increasing at a record pace.
Heartland Express records its best consolidated operating ratio since its last acquisition was fully integrated.
Logistics real estate investment trust Prologis announced Monday that demand for space remains robust and that operations are the healthiest in its 38-year history. The company modestly beat expectations for the second quarter and raised its outlook for the rest of 2021.
P.A.M. Transportation benefited from a tight truckload market in the second quarter to post record revenue and operating income.
XPO Logistics provided updated expectations for the second quarter and issued 2022 guidance for soon-to-be stand-alone logistics company GXO.
Autonomous trucking software startup TuSimple’s public offering helps boost Navistar Q2 earnings while a trucking recovery leads to added production.
The large year-over-year revenue increases recorded by less-than-truckload carriers in the second quarter continued with Yellow on Monday after the close. However, the carrier’s operating metrics lagged some of its competitors as it continues to execute a companywide overhaul.
Less-than-truckload carrier Old Dominion reported further acceleration in tonnage and yields in the first two months of the second quarter on Thursday.
Truck broker Landstar System raises its second-quarter guidance as shipments and pricing outpace its initial outlook.
A commonly seen financial term — earnings before interest, taxes, depreciation and amortization (EBITDA) — and why it’s used is explained.
ZIM is the liner most exposed to upside from America’s import binge. It’s taking full advantage of the situation.
Canadian trucking and logistics firm Titanium Transportation Group reported record first-quarter revenue as its U.S. brokerage business and newly expanded trucking fleet fired up the growth engine.
Danaos will stockpile cash from the current boom and spend it on new ships when environmental regs are clearer.
Third-party logistics provider Radiant Logistics handily beat quarterly expectations Monday. Management has returned its focus to share buybacks and M&A.
Formerly containerized cargoes are being loaded onto bulkers. Box-ship orders are keeping future bulker growth in check.
Nikola exposes battery-electric Class 8 Tre to 25 fleet customers and gets first firm order for delivery late this year.
Flatbed truckload provider Daseke reported first-quarter adjusted earnings better than expected. However, with a more than 5x run-up in share price over the past year, a decent quarterly report without a guidance raise sent the stock lower on Friday.
Cold storage facility operator Americold said food manufacturers are “failing to meet the needs of retailers” as COVID-related production shutdowns have drawn down food stocks. The impacts from lower inventories and throughput were seen in the company’s first-quarter report.
Tanker execs explain lack of distress sales and scrapping this time around, and why new orders will be more curtailed.
Less-than-truckload carrier Yellow Corp. reported a sizable first-quarter loss Wednesday as weather, increased purchased transportation expense and a lack of gains on real estate sales weighed on the period.
First-quarter revenue results were aligned with FLEETCOR’s expectations, but at $609 million, they fell 8% short of first-quarter 2020 results.
Maersk reveals more details on its shift toward long-term contracts at the expense of spot exposure.
Engine maker Cummins absorbed $105 million in freight costs to get microchips needed for engines during the trucking boom.
ArcBest points to the current “robust demand” environment as supportive of raising equipment spending in 2022.
Logistics provider ArcBest Corp. posted first-quarter results well ahead of analysts’ expectations Tuesday.
Chinese container production still trails torrid demand. Ever Given accident was ‘icing on the cake’ — making box shortfall worse.
Universal Logistics Holdings reported $415.2 million in operating revenue during the first quarter.
Forward Air provided some clarity on longer-term margin expectations during a Friday conference call with analysts. The company beat first-quarter expectations and its new guidance came in much better than expected.
Forward Air reported first-quarter earnings results and issued second-quarter guidance that were both ahead of expectations.
Provider of fuel payment processing for fleets reported 5% revenue decline in first quarter
Schneider National sees several favorable catalysts through the remainder of 2021 that are supportive of its guidance raise. Finding equipment and drivers will be the challenge.
Schneider National’s first quarter comes in ahead of analysts’ expectations and the company raises its full-year outlook by 8% at the midpoint of the range.
Werner Enterprises reported a first-quarter record for operating income Wednesday after the close. Revenue-per-mile guidance in its one-way segment moved higher.
Despite supply chain constraints, Tier 1 driveline supplier Dana beat analyst expectations for Q1 and raised full-year estimates.
The CEO of TFI International suggests the Canadian firm is looking to grow its relationship with UPS beyond its $800 million acquisition of UPS Freight.
Less-than-truckload carrier Saia reported first-quarter earnings ahead of expectations and guided for second-quarter results to outpace normal seasonality.
Less-than-truckload carrier Saia reports a big year-over-year increase in earnings during the first quarter even as weather negatively impacted one-third of its network.
TFI International reports a 17% increase in operating income during the first quarter as the Canadian trucking and logistics firm gets a strong start to 2021.
DSV Panalpina announced Tuesday it plans to acquire the logistics arm of Agility Public Warehousing for $4.1 billion. The deal is expected to turn the transportation and logistics company into a top 3 forwarder globally.
First-quarter earnings reports from truckload carriers highlight a booming freight market. A strong consumer, tight truck capacity and elevated rates appear the likely dynamics for the remainder of the year.
Tesla is focusing on making more cars, securing battery cells and finishing gigafactories in Texas and Germany. The Semi is again in the background.
Daimler Truck AG, soon to be a stand-alone business, showed a modest recovery from the pandemic-impacted year-ago first quarter.
The CEO of one of Canada’s largest trucking companies, Mullen Group, says the country’s freight market will bounce back after COVID-19 is under control.
Old Dominion Freight Line set a first-quarter record even with adverse weather conditions. The second quarter is shaping up to produce a new all-time company record.
Sweden’s Volvo AB reported a record operating margin in Q1 following a warning of up to a month of downtime due to microchip shortages.
Old Dominion Freight Line announced its best first-quarter result in company history on Thursday. Improved density and yields led to a 76.1% operating ratio, 530 basis points better year-over-year.
P.A.M. Transportation Services posted a profit in the first quarter of 2021. The bulk of the improvement came on the nonoperating line.
Truck repairs and parts sales covered all the cost of running Rush Enterprises’ dealership network in Q1 as year-over-year profits doubled.
Broker Landstar System blew out analysts’ expectations for the first quarter. The company’s earnings almost doubled from the year-ago quarter, which wasn’t materially impacted by COVID. Landstar’s new guidance calls for more of the same.
Heartland Express reported a slight miss on first-quarter earnings expectations Wednesday. The carrier pointed to relative strength in March as it exited the quarter, noting that driver pay will need to be raised again.
Knight-Swift Transportation posted a large headline earnings beat in the first quarter but it was less impressive by comparison when excluding nonoperating income. The company now sees over-the-road contract rates increasing in the mid-teen percentage range during 2021.
Logistics warehouse provider Prologis sees the real estate market tightening further in 2021. Rents are expected to step higher by mid-single digits even as more capacity comes online.
Logistics warehouse provider Prologis reports a beat-and-raise quarter. The company is forecasting occupancy to continue to tick higher even as new properties come online.
J.B. Hunt Transport Services updated its long-term division margin targets on its first-quarter call Thursday.
J.B. Hunt Transport Services announced first-quarter results well ahead of analysts’ expectations.
Forward Air’s growth plans net 11 new final-mile terminal locations in the first quarter. While recent activist shareholder interests called into question the company’s capital allocation strategy, it appears the final-mile segment remains part of the plan.
Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.
February freight data from Cass shows a deceleration in the growth rates of shipments and expenditures. Recent weather events have only “coiled the spring” for a continuation of high demand and rising rates.
Activist investor Ancora Advisors gains two seats on Forward Air’s board and endorses three others. The company’s former CFO has been brought on in a consulting role.
Flatbed carrier Daseke announced Wednesday it has reduced debt and refinanced the bulk of its remaining debt. The transaction, which will lower annual interest payments, is the latest in the company’s efforts to improve margins and financial returns.
