In today’s edition of The Daily Dash, shippers want to know how a broker transparency rule would impact them. Plus, Schneider and Werner are among those reporting earnings and carriers weigh in on the election.
The strength in truckload fundamentals didn’t really show in Schneider National’s third-quarter report. Lower revenue per truck, intermodal rail congestion and brokerage malaise overshadowed the announcement of a $2 special dividend.
Schneider National announces a $2 special dividend answering the mounting questions around the carrier’s future cash deployment. After the $355 million payment, the company still has ample cash to pursue other initiatives.
Demand for drivers described as ‘insatiable’ as Schneider appears to be leading the way in hiking compensation
Truckload giant appears to be out ahead of others as driver market tightens
To ensure social distancing, eight backup facilities at nearby hotels will be ready to go if the regular training sites get too full
With many data points sitting at cycle highs, several industry participants are calling for the trucking market’s bull rally to last well into 2021.
Companies have organized giveaways, promotions to recognize professional truck drivers during National Driver Appreciation Week, Sept. 13-19.
Tightening truckload and intermodal markets have carriers expecting the hot freight market to carry forward. One carrier is calling for large rate increases in 2021.
Strong spot market fundamentals and low inventories prompt UBS analyst Tom Wadewitz to raise truckload carriers’ earnings estimates for the second half of 2020.
The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Hurricane Laura has left quite an impact in Louisiana. Plus, Convoy and […]
Schneider has announced it will test Daimler Trucks’ eCascadia electric truck while Navistar and Volvo Trucks ink deals to expand charging opportunities.
In today’s edition of The Daily Dash, Schneider National, Navistar and Volvo Trucks North America all announced advancements to electric vehicle testing and charging networks. Plus, a warehouse robotics company and 3D additive printing firm land investment rounds.
Declines in Cass freight data continue to outpace the industry by a considerable margin. The firm sees improved results on the horizon.
Werner seeing 10 times greater rate of positive tests using hair versus urinalysis.
FHWA has awarded a contract for a platooning study, Schneider could be looking at an acquisition and UPS has an earnings surprise.
Improving demand and truckload fundamentals are expected to drive third-quarter growth. The carrier’s growing cash balance garners some attention.
“Cost containment” minimizes the impact of a 15% revenue decline during Schneider National’s second quarter. Guidance was reinstated higher than current consensus expectations.
Several other companies cited in overall bullish report
The fourth quarter of 2020 or the first quarter of 2021 might be when the intermodal sector will see some volume growth. But truck capacity, fuel pricing and pandemic uncertainties make a recovery hard to pin down.
Truckload and transportation companies talk freight markets ahead of reopening with some calling a market bottom in April as spot rates remain below breakeven.
A better than expected first quarter yields to expectations that a recovery may not occur until June. Some of Schneider’s customers are starting up again, but demand in May will likely be choppy.
Schneider Logistics is seeking to smooth and expedite the process for paying carrier partners by pairing TriumphPay’s payment solutions with Transflo’s document management tools.
Schneider reports TL volumes are down upper single-digit percentages in late April, but notes that some of its customers shutdown by COVID-19 are set to come back online.
After a surge in freight over the past few weeks, UBS transportation analyst Tom Wadewitz is predicting a rough two months.
Most companies are right near the 25% decline in the market since February 1.
Schneider National’s new Dallas operating center set to open as the company looks to grow its active fleet.
NACFE is kicking off a three-year project as it digs deeper into electric truck opportunities in regional haul.
Knight-Swift will integrate Truckstop.com’s Book It Now digital freight offering into its logistics operation, and provide access to Truckstop.com’s load board for its owner-operator and carrier partners.
Schneider National’s fourth quarter suffered from a “muted peak season” and softer rates. However, the carrier’s 2020 outlook calls for improving fundamentals.
Truckstop.com’s Book It Now feature is available through Redwood Logistics’ LoadRunner TMS, giving users of both services more options and a streamlined booking process.
Platform Science ranked No. 10 on the FreightTech 25 list for 2019. Its open-platform technology streamlines transportation processes to help trucking fleets eliminate waste and save time and money.
Truckload stocks get an upgrade at Goldman Sachs. Analyst cites “bottoming” fundamentals and the likelihood that the trucking downturn is nearing the midway point as reasons for the upgrade.
Schneider National has added a tool called Load My Truck that allows third-party carriers to instantly book loads at a click of a button. Also, Mexico has installed a recycled highway, and the Huawei controversy highlights cybersecurity concerns in the supply chain.
Platform Science headlines a list of freight-focused companies honored in the CNBC Upstart 100 list for 2019. Upstart 100 recognizes companies poised for breakouts as major disruptors.
The latest Cass outlook signals “economic contraction,” but the heads at some of the nation’s largest truckload carriers see a different path.
Mark Rourke, CEO of Schneider National, right, told George Abernathy, president of FreightWaves, that a series of regulations hitting the industry will affect expenses or cut capacity, during his time on stage at FreightWaves LIVE Chicago.
California-based owner-operators say a new state law, AB5, that seeks to limit the use of independent contractors targets them unfairly.
U.S. truck drivers possibly numbering in the tens of thousands are staring at non-working electronic logging device (ELD) screens after their Omnitracs’ systems shut down on Nov. 2. Omnitracs did not immediately confirm the outage.
With the bulk of its final mile business shuttered and its tractor fleet right-sized, management believes that the company is on solid footing to see improvement in 2020.
Camera monitoring systems could eventually replace bulky exterior mirrors on Class 8 trucks. Stoneridge Inc. and Robert Bosch are the only two suppliers deep into the safety and fuel-saving technology so far.
Earnings estimates continue to be cut by equity analysts, however their outlook for the stocks is positive.
Carloads on the railroads remained under water in the first week of the fourth quarter 2019. Intermodal weakness will be in the spotlight as third quarter earnings season approaches.
Third quarter 2019 is likely to see another step down in earnings expectations for the year. Equity analysts have been busy lowering estimates on many publicly traded transportation companies.
Brokers will be able to offer core carriers guaranteed freight and rates at the click of a button.
The EPA named its annual SmartWay Excellence Award winners on Oct. 7, 2019. J.B. Hunt is one of 72 companies to be honored this year, but is one of just five companies that have been honored 10 times. Schneider National, Swift Transportation, Lowe’s Companies, and Kimberly-Clark Corporation are the others.
“Your body is your engine” and needs routine maintenance to prevent a breakdown.
Expedited brokers said the best months of 2019 are ahead.
Two of the nation’s largest truckload carriers said they are seeing green shoots in freight demand.
Schneider National is leading an industry shift from hardware-centric solutions to software platforms.
The outlook from JBHT was notably better than the concern around the lack of an uptick in seasonal demand that many carriers expressed at multiple investor conferences in May and June.
Rates and rejections into the Southeast are elevated as trailers and tractors are staged for disaster relief.
Retailers of heavy goods like furniture face the same e-commerce delivery pressures as retailers shipping parcels, survey finds
Transfreight Automotive Logisitcs Europe, a fleet with over 90 vehicles, has shut down.
Wisconsin-based Schneider National recently announced it is building a new operations center in Dallas, where the company will manage up to 500 truck drivers. The new facilities will include a […]
Schneider is closing its First to Final Mile delivery operation due to poor performance.
Schneider National sees “less favorable” trends continuing into the back half of 2019. The company lowered guidance and announced the closure of its First to Final Mile business.
New categories to be added to types of crashes deemed “not preventable.”
Bascome Majors says contract rates will be under downward pressure for the rest of the year, but spot rates may have already turned up.
Intermodal giant sees rail and truck as better than option than truckload into
2019 is shaping up to be the worst year for trucking in the past five years.
Eroding fundamentals in the truckload carrier market have led analysts to lower their earnings estimates for the carriers they cover.
The negative data and commentary centered on the lack of a seasonal increase in demand is forcing analysts to meaningfully lower earnings estimates and the outlook for the sector.
Ten regional haul fleets will participate in NACFE’s Run on Less Regional challenge to measure fuel efficiency and other metrics in real-world operation.
The truckload spot market experienced another month of softness in May, confirming recent commentary that normal seasonality isn’t taking shape.
Landstar announced that it may not be able to meet the low-end of its guidance range as truckload spot market fundamentals remain weak.
Volvo and Mack used trucks are now backed by factory warranties of up to 24 months and 250,000 miles for parts and labor on certain components.
“June is a big month in the second quarter historically…and if we don’t see it here in the month of June you really have to question what we are going to see in July and August,” said Rourke.
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.
While tariff fight may not repeat itself, other factors that lead to drayage capacity crisis still in play for shippers this year.
FedEx Freight, J.B. Hunt, Schneider National among companies with the most non-preventable accidents identified so far by FMCSA.
Covenant Transport is the first enterprise carrier to lower guidance for Q1 on a numbers of headwinds, none of which are macroeconomic—yet.
The transportation giant will be using cloud-based software applications Load Track and Smart Capacity to improve its processes and make working with Schneider’s logistics division as seamless as possible for carriers and drivers.
Not a gangbusters quarter for Saia or Schneider. But the numbers were strong for both and Merrill Lynch thinks the Schneider stock is undervalued.
Everyone knew the quarter was weaker than it had been. The question is how much. Stock prices have reflected a significant slowdown.
Since its founding in 1935, Schneider has only known three leaders: founder Al Schneider, his son Don Schneider, and Chris Lofgren, the first non-family member to lead the company. Come April 2019, you can add the name Mark Rourke to that list.
Optimal Dynamics uses AI and machine learning to assist fleets in finding loads a few days into the future, which would help carriers get ahead of their competition, as they could plan their network flow further in advance than usual.
Incoming CEO Rourke brings experience in driver training, account management and truckload services.
Intermodal has attracted more freight thanks to tight truck markets, but growth rates will moderate.
Jim Filter of Schneider says he’s seeing benefits from CSX paring back its footprint and focusing on a smaller range of lanes.
Schneider National has a Crisis Communications Team that is responsible for planning the safety of employees, equipment and customer freight during hurricanes and other adverse weather situations. Here is some of what they have learned.
We visualized the performance metrics of the publicly-traded truckload carriers over the past six quarters, using TCA InGauge’s data.
Schneider National became the latest carrier to announce that it has benefited financially from the strong pricing and capacity squeeze when it announced its second-quarter operating revenues were up 15% year-over-year.
Schneider National’s Shaleen Devgun joins San Francisco-based venture capital firm 8VC as an advisor. FreightWaves spoke to Devgun and 8VC co-founder and partner Jake Medwell by phone.
The year 2018 is shaping up as one not seen in trucking in more than a decade, explained Chris Lofgren, CEO of Schneider National, on the company’s earnings call on Thursday morning.
