earnings

United Airlines is outperforming the competition on cargo and officials say they have a good strategy for returning to profitability.

The jump in passenger traffic for U.S. airlines during the Thanksgiving and Christmas holidays was a mirage, not a sustainable source of revenue for overcoming the coronavirus crisis. On Thursday, Alaska Airlines said passenger volume and revenue since October has retreated again and Delta Air Lines (NYSE: DAL) sounded less optimistic about the next few […]

Delta’s downsizing helped it contain costs during an extremely challenging pandemic year. On Thursday, it reported a fourth-quarter loss before taxes of $2.1 billion.

Bed, Bath & Beyond reported EPS of less than half consensus estimates. CEO Mark Tritton pointed to tight shipping capacity and elevated freight costs for the miss. Get used to hearing this.

Air Canada revenues came in below expectations, but the company was able to cut costs to beat earnings expectations.

Atlas Air rode the rising tide for air cargo to higher profits in the third quarter.

Cargojet’s record airfreight volume helped adjusted earnings double in the third quarter.

American Airlines achieved a $77 million quarter-over-quarter gain in cargo revenue thanks to stepped-up cargo operations and favorable market rates.

Alaska Airlines is slowly improving its financial outlook month by month, but it still lost about $400 million in the third quarter.

Delta Air Lines (NYSE:DAL) reported quarterly losses of $3.30 per share, which missed the analyst consensus estimate of $3 by 10%. This is a 242% decrease over earnings of $2.32 per share from the same period last year. The company reported quarterly sales of $3.1 billion. This is a 76% decrease over sales of $12.6 […]

Korean Air is a unicorn among passenger airlines. It made a profit in the second quarter, a remarkable feat given the depressed state of the airline industry.

Atlanta-based FleetCor is a commercial fuel-card and business-payments systems provider. The company employs around 8,700 people and provides commercial card services in more than 100 countries.

Sunnyvale, Calif.-based Trimble is a provider of technology solutions for trucking companies, private fleets, freight brokerage, and third-party logistics providers.

Air Transport Services Group

On a per-share basis, the Warren, Michigan-based company said it had net income of 23 cents per share, on total operating revenues of $258 million.

WEX Inc., a provider of fuel cards and account management services, reported sales fell 21% year over year to $347.1 million.

UPS’ quarterly results are much better than analysts anticipated.

Saia Inc. has a market capitalization of $3.33 billion and has 169 trucking terminals in 44 states.

Southwest Airlines wrote its second-quarter results in red ink — $1.5 billion to be exact. It is not alone. All airlines are suffering financially from the coronavirus crisis.

United Airlines lost $1.6 billion in the second quarter. Given that a pandemic has hammered passenger travel, that’s relatively good. Company officials say maintaining capacity discipline for the foreseeable future is critical to get back to profitability.

United Airlines got pummeled by the coronavirus pandemic in the second quarter, losing $1.6 billion before special charges. But cargo revenue jumped because of the huge number of cargo flights it operated without passengers to worry about.

This week Andrew holds down the fort with Director of Passport Research JP Hampstead to discuss his team’s recent research note on Q2 broker performance. Then the two dive into Uber’s partnerships with municipalities and answer whether the upcoming Lemonade IPO will be sweet or sour. As always, a special thanks to our friends at CarrierDirect with […]

FedEx Corp. posted a $334 million net loss for Q4 on Tuesday, but shares spiked on strong non-GAAP results.

Korean Air is the latest airline to get government aid and raise capital to increase its cash position.

“In North America, our fuel volumes are off 20% to 25%, behind last year in April,” said Ron Clarke, FleetCor’s chairman and chief executive officer.

Revenue for the quarter came in at $431.68 million, 13% higher than the consensus estimate of $424.31 million.

The COVID-19 pandemic has created choppy conditions in the airfreight market, but air cargo companies like Atlas Air are mostly seeing upside for their business.

ir Transport Services Group is making money from its aircraft leasing and outsourced transportation businesses as express carriers and other customers seek more aircraft to support supply chains.

Alaska Air lost $232 million on a net basis in the first quarter, but everything is relative these days and the loss doesn’t look so bad given the state of the airline industry.

XPO Logistics Inc. (NYSE: XPO) on Monday reported first-quarter revenue of $3.86 billion, down from $4.12 billion in the first quarter of 2019, as the COVID-19 pandemic in mid-March derailed what had been a relatively good quarter. Net income was $21 million for the quarter, compared with $43 million for the same period in 2019, […]

Air Canada is trying to navigate the darkest period in aviation history through cost cuts, financing and new cargo operations.

United Airlines isn’t sugar-coating the airline industry’s economic reality. United expects to survive the coronavirus crisis, but business will be slim for months to come.

American is slashing expenses, but not fast enough to stop big profit losses. Here are the details on its first quarter and what it expects going forward.

Boeing took a big loss in the first quarter and the rest of the year doesn’t bode better for a company plagued by ongoing technical problems with key products, and now facing little demand for aircraft.

UPS faces economic and other challenges in the wake of COVID-19.

Southwest Airlines is not used to losing money in any quarter or full year, but that will change in 2020.

Many expected a worse outcome for carriers in March as a result of the COVID-19 outbreak. Ironically, the pandemic may have padded some 1Q results.

Delta is the first of the domestic passenger airlines to release earnings since the coronavirus pandemic spread globally and the picture isn’t pretty.

PACCAR Inc. posted decent first quarter earnings despite shuttering its plants in late March because of the coronavirus pandemic. While truck orders cooled, parts sales set a record as the truck maker tries to build on 81 consecutive profitable years.

Profits grew in the fourth quarter and full-year 2019 at ATSG as its leasing and airline subsidiaries both performed well.

Atlas Air had a difficult year in 2019, but has made some tactical decisions to turn around its financial performance.

Heavy-duty transmission maker Allison reported lower sales and profits across its product line with its North America on-highway business the sole exception.

Record fourth quarter revenues were spoiled by $118 million in extra depreciation costs.

Company posts expected $8.6 million profit as intermodal helps offset declines from trucking and other divisions as new CEO looks to better performance in 2020.

Nippon Cargo Airlines’ parent company is taking a $144 million charge against earnings.

On Friday’s What The Truck?!? we talk coronavirus, ELDs, freight forecasting and more

Boeing’s earnings and revenue failed to meet expectations, and the manufacturer revealed billions more in MAX-related costs.

Alaska Airlines’ parent company also reported hefty full-year earnings in what the CEO called a “fantastic year.”

This week marked the first of what looks to be a tough earnings season. See who reported over the past seven days.

Hey hey hey, welcome to the workin’ weekend! We never hesitate to jump right in and hit you with the headlines: TA Logistics claims Celadon was insolvent in late November 2019, and for fear that future access to the shared IT system would again be blocked, and the failure to remit millions of dollars in […]

Southwest Airlines is the latest carrier to describe how the loss of capacity from the 737 MAX grounding is eating into profits.

The airline plans to take 17 new cargo-friendly widebodies this year but doesn’t know when it will see any new 737 MAXs.

Canadian auto manufacturer says it will stop developing self-driving technology with the U.S. ride-sharing company as it announces lower sales outlook for 2020.

Operating revenue for cargo operations at Delta Air Lines fell 13% for the fourth quarter ($187 million) and the full year ($753 million) compared to the same periods in 2018, a small blip in an otherwise upbeat earnings report. Delta (NYSE: DAL) reported that fourth quarter adjusted earnings per share grew 31% to $1.70 year-over-year, […]

Happy top of the weekend! Thanks for making us a part of the backhaul of your week, and boy do we have some news for you. First, we hit the headlines: Applying the restrictions of AB5 in California to the trucking industry runs afoul of federal law, according to a court case just handed down. […]

CMA CGM reported solid results for the third quarter of 2019. However, those results were weighed down by the costs of financing its purchase of CEVA Logistics.

BorgWarner Inc., which makes engine components and drivetrains for combustion, hybrid and electric vehicles, reported lower third-quarter earnings on slightly higher sales.

Trimble misses revenue estimates for third quarter of 2019.

Updated at 8:40 p.m. Atlas Air Worldwide Holdings Inc. (NASDAQ: AAWW), buffeted by a weak global airfreight market exacerbated by trade disputes and disruptions from a labor dispute with its pilots, lost $879,000 in the fiscal third quarter from operations, compared with a $54.5 million operating profit in the same period a year ago. Operating […]

Updated at 3:15 p.m. EST. Earnings call adds. Cargo business fell during a challenging third quarter for American Airlines [NASDAQ: AAL], which faced operational disruptions and higher costs from labor issues, weather and the grounding of the Boeing 737 MAX. As previewed, the Dallas-based carrier reported Thursday that cargo revenue fell 20% to $208 million […]

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.

Updated 6:32 p.m. Aircraft maker Boeing [NYSE: BA] is reporting sharply lower earnings for its fiscal third quarter as the company deals with the grounding of its new 737 MAX short-haul jet involved in two deadly crashes.  The commercial airplanes unit experienced a 41% drop in revenues to $8.2 billion, reflecting lower 737 deliveries, according […]

Paccar Inc. delivered 31,000 trucks in the third quarter, helping the parent company of Kenworth Truck Co. , Peterbilt Motor Co. and DAF beat earnings estimates.

Swedish truck maker AB Volvo reported higher third-quarter profits and sales on Friday, October 18. But it warned that orders for new trucks in North America and Europe continue to decline and a strike at its Mack Trucks unit could pinch profits depending on how long it lasts.

Story updated at 5:01 p.m. to reflect correction for passenger costs. United Airlines [NASDAQ: UAL] expects to drive down growth in operating expenses starting next year by replacing smaller aircraft with larger ones, primarily on domestic routes.  Third quarter cost per available seat mile (CASM), excluding fuel and non-core expenses, increased 2.1% year-over-year to 9.8 […]

This story was updated at 7:40 p.m. EST, 10/16/19. Correction also made for percent drop in Delta’s cargo revenue. United Airlines [NASDAQ: UAL] reported cargo revenue dipped 4.7% to $282 million year-over-year in the third quarter, but more than made up for it with passenger and ancillary revenue. Operating income soared 24.1% to $1.47 billion […]

Updated: 3:41 p.m. Correction: Cargo revenue dropped 17%. Representing $37 million less, not 37% drop. Delta Air Lines’ cargo revenue dropped 17% to $189 million in the third quarter and year-to-date is off 13% to $567 million compared to the same period last year due to lower volumes and yield, the company reported Thursday. Delta […]

CMA CGM expects an even better second half to the year following its acquisition of CEVA Logistics.

Navistar International Corp. blew past revenue and earnings estimates for its third fiscal quarter. It is reducing production but expects to gain market share in a softening market.

Yang Ming had an operating profit in the second quarter but notes U.S.-China trade conflict has weakened demand for container transportation.

Hapag-Lloyd says it outlook for the second half of 2019 is unchanged even if it has to deal with more trade restrictions.

The beat comes after the company fell short of earnings expectations last quarter, coming in over 23 percent short of estimates.

At 10:30 a.m., its price was down almost 16 percent.

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.

Jens Bjørn Andersen, chief executive officer, said the company was “very pleased with the strong results for the second quarter of 2019. Global transport markets are soft – especially within air freight, but DSV has managed to outgrow the market while still delivering market leading profitability.”

Freight revenue drops by 12.1 percent, led by a more than 20 percent plunge from airline’s Pacific routes.

The Procter & Gamble Company (NYSE: PG) reported its strongest quarter of organic sales growth in over a decade.

CEO Alain Bedard lauds “magic” of its American trucking business ability to shore up efficiency in challenging freight environment.

Canadian transportation firm reports a 13 percent increase in net income, helped in part by improved performance from its U.S. truckload businesses.

On this LIVE backhaul edition of What the Truck?!?, market expert Kevin Hill hosts with Dooner as they break down earnings, e-commerce and all the latest headlines, including news about Tesla, Boeing, UPS, and the carrier and freight market. Want to watch the show? Subscribe to FreightWaves YouTube, Facebook or Twitter channel and tune in […]

Canadian transportation and oil services firm ready to make additional acquisitions to boost growth after strong second quarter results.

Despite falling short, the electric automaker reaffirmed its full-year delivery guidance, saying it still expects to deliver 360,000 to 400,000 vehicles in 2019.

Boeing (NYSE: BA) posted a core loss per share of $5.82 for the second quarter of 2019.

The railcar leasing company posted diluted earnings per share (EPS) of $1.86, up from $1.01 in the second quarter of 2018

A five percent drop in licenses contributed to a modest disappointment, but management is excited about Qualtrics.

This is the fourth consecutive quarter IBM has reported falling revenues.

Bascome Majors says contract rates will be under downward pressure for the rest of the year, but spot rates may have already turned up.

This morning (July 8) Morgan Stanley’s transports equities analysts cut their 12-month price targets for most of the companies they cover, but said that following the release of second quarter earnings it may be time to invest in the cyclical stocks again. The analyst team, led by Ravi Shanker, expects second quarter results for transportation […]

On this special Memorial Day weekend edition of What The Truck?!? we have all the latest news in FreightTech, supply chain, and trucking – including a focus on Craig Fuller’s state of the industry report, Earnings Over/Under, On The Radar, Fast Paced Forecast, and some hot tips on how to spend your holiday weekend. All this and more on WTT?!? Subscribe now on Apple Podcasts, Spotify, Stitcher, or your favorite podcast player choice and never EVER miss an episode. No paywalls, no borders.

What The Truck?!? is sending you into the weekend with all of the latest headlines and top stories from FreightWaves.com, as well as Earning Over / Under, On The Radar presented by SONAR, Fast Paced Forecast, and so much more. Let’s bang a little cowbell for the weekend and celebrate the launch of WTT?!?’s expansion to two episodes a week!

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Cervus Equipment (TSX: CRV) expects truck sales to rebound its Canadian Peterbilt dealerships as an order backlog improves during 2019. “The order backlog is a North American backlog,” CEO Graham Drake said during a call with analysts on May 9, a day after the company released its first quarter 2019 results. “Getting the right trucks […]

TravelCenters of America announced higher fuel volumes and revenue, but one-time charges led to a quarterly loss.

Schneider National, Inc. held  a call with analysts and media to discuss earnings results. Most of the call focused on explaining what occurred in the first quarter and how the company will achieve its lowered guidance.

Schneider National, Inc. announced first quarter 2019 earnings of $.21 per share, $0.06 per share lower than last year and $0.10 worse than the consensus estimate.

Werner Enterprises, Inc. (NASDAQ: WERN), reported non-GAAP adjusted earnings per share (EPS) of $0.52, besting  the consensus estimate of $0.49 per share.

Covenant Transportation Group (NASDAQ: CVTI) posted adjusted earnings per share (EPS) of $0.27 for the first quarter of 2019, beating analyst estimates and edging past the expectations the company itself announced earlier this quarter.

Knight-Swift Transportation reported adjusted earnings per share that were ahead of analysts’ expectations. FreightWaves was able to speak with David A. Jackson, Knight-Swift Transportation’s President and Chief Executive Officer.

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.