Truck Tech is a weekly newsletter providing perspective and context on autonomy, electrification and other technologies impacting the fleet ecosystem.
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.
Truck Talk is a weekly newsletter offering perspective, context and insight into issues in the commercial truck ecosystem.
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 Milton to reimburse the civil penalty and other costs. The startup electric truck maker is awaiting full SEC approval of the settlement, which covers alleged […]
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.
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.
