Schneider National is hopeful for a better seasonal inflection in the fourth quarter, noting some areas of the truckload market are seeing significant capacity exits.
Knight-Swift Transportation said Wednesday it will cut costs and focus the bulk of its investments away from truckload-related offerings in the near-term.
Brent Hutto from Truckstop.com talks about expectations for the spot market at FreightWaves’ Domestic Supply Chain Summit.
Werner Enterprises’ CEO said Tuesday that the worst of the cycle is in the rearview and that he will remember which shippers stood by the company during the recent freight recession.
Schneider National beat first-quarter expectations Thursday but lowered its full-year outlook as excess capacity lingers.
Management teams from a couple of the nation’s largest fleets share their thoughts on peak season and rates during an investor conference.
Schneider National beat second-quarter expectations even with a precipitous drop in gains on sale.
Commentary from the C-suites of trucking remains positive for the 2022 back half.
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.
Cowen analyst lowers earnings estimates for truckers as data showing a loosening market mounts.
U.S. Xpress expects freight demand to stay strong in the first half of 2022. The trajectory from there could hinge on inflation.
Nearly a year and a half into a tight truck market and carriers continue to raise driver wages. Midwest Carriers and CFI are the latest to announce increases.
Truckload carriers have been raising pay for 18 months now to meet heightened demand. But when this trucking cycle cools, don’t expect wages to follow in lockstep.
Heartland Express announced 2021 was its best year since going public. Fourth-quarter results were in line with consensus.
December supply chain numbers again show “significant expansion.” The Logistics Managers’ Index report questions whether retailers ordered too much for the holidays.
Growth throughout the supply chain accelerated in November with costs reaching all-time highs, according to the Logistics Managers’ Index.
Truckload carrier U.S. Xpress expects a hot freight market to carry through the end of the year but cautions consumer headwinds are mounting.
October data from Cass shows supply chain bottlenecks and capacity shortages continue to subdue shipment growth. However, the condition led to another jump in rates.
An October supply chain survey shows transportation capacity falling at a faster pace while freight rates keep stepping higher.
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.
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.
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.
Heartland Express beats expectations in the third quarter with the help from gains on sale.
Supply chain constraints are keeping a lid on freight volumes while rates continue to reach new highs, according to September data from Cass Information Systems.
Morgan Stanley analyst Ravi Shanker believes rate expectations of truckload management teams haven’t been reflected in 2022 earnings estimates yet.
Driver pay increases continue to roll in as a strong macroeconomic environment shows little signs of slowing.
More trucking heads weigh in on rate expectations for 2022. Following a sizable rate bump this year, it appears that rates could move considerably higher again next year.
August data from Cass shows freight expenditures extend their torrid pace. Freight demand remains high but a lack of capacity is constraining shipment growth.
Rate predictions for the truckload market are coming in earlier than in past years. High consumer demand along with a lack of drivers and equipment has industry participants calling for further increases.
As freight markets enter the second year of peaklike conditions, FreightWaves caught up with Amit Mehrotra, Deutsche Bank’s transportation analyst, to talk about how this freight cycle will play out.
A third-quarter outlook from truckload carrier U.S. Xpress sees volume and rate strength lasting throughout 2021. However, driver and supply chain labor challenges present risks.
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.
P.A.M. Transportation benefited from a tight truckload market in the second quarter to post record revenue and operating income.
Adam Miller, CFO of Knight-Swift Transportation and president of Swift Transportation, joins George Abernathy, president of FreightWaves, during Day 2 of FreightWaves LIVE @HOME to talk capacity, drivers, rates and more.
Commentary from trucking executives at an investor conference suggests the capacity crunch may last well into next year.
Freight shipments continue to break records with little signs of slowing. The year-over-year comparisons get tougher in the back half of 2021 but the current supply-demand dynamics may not change all that much.
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.
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.
GP Transco is the latest carrier to raise driver pay. Base pay alone for company drivers moves 15% higher.
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.
Driver pay continues to step higher as truck capacity remains very tight and consumer spending high.
Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.
After a fresh round of pay increases at the beginning of the year, some carriers are continuing to raise rates further. Bay & Bay Transportation announced effective immediately it has raised pay for independent contractors by 20 cents per mile.
Werner Enterprises modestly lowered earnings expectations for the first quarter of 2021 due to downtime caused by recent winter storms. The company expects no change to the tight capacity dynamic for some time.
Schneider National posted fourth-quarter results ahead of analysts’ forecasts on Wednesday. The company’s 2021 outlook is largely in-line with the current consensus estimate.
Truck broker Landstar System set records in the fourth quarter. The company is expecting the high-demand environment and improved truckload pricing to carry through at least the first quarter.
The trucking sector has been on a historic run of late, with some pointing to an end nearing. Don’t tell that to Deutsche Bank’s Amit Mehrotra, who sat down with FreightWaves to discuss his positive outlook for the new year.
The FMCSA’s final rule allowing third-party instructors to provide both instruction and qualifying testing for the same applicant isn’t likely to materially alter trucking’s capacity shortfall, according to analysts.
Roehl Transport joins the list of truckload carriers increasing driver pay to keep trucks rolling during a high-demand environment.
Sell-side research analysts have made their bets on trucking in 2021. Some believe a continuation in consumer spending and inventory restocking will benefit truckload carriers while others see less-than-truckload carriers gaining traction as the industrial economy advances.
Temperature-controlled carrier KLLM Transport Services is rolling out “one of the largest” increases to driver pay in the company’s more than 55-year history.
Recent data points as well as updates from retailers suggest this inventory restocking cycle may take a few quarters to fix, meaning the current supply-demand dynamic in trucking could linger.
Trucking executives were on hand at Stephens Annual Investment Conference this week, making it known that this cycle is different and that the current market dynamics are here for a while.
The Cass Freight Index returns positive trends for shipments in October. The expectation is strong volumes will continue with the outlook for higher expenditures on the horizon.
Landstar System inches its fourth-quarter expectations higher but cautions that this trucking cycle may not be different from those in the past.
While some truckload carriers posted significantly better-than-expected results, most saw their shares sag as the bullish trucking trade cooled heading into the third-quarter earnings season.
A survey of supply chain executives shows transportation capacity declines at a slower pace in October. The logistics industry continues to experience “rapid” growth.
USA Truck’s third-quarter performance was something management had been foreshadowing for the last few quarters. They were adamant that earnings would improve if the market would cooperate.
USA Truck was able to use a favorable demand backdrop and very tight truck capacity to break a string of four consecutive quarterly losses.
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.
Werner Enterprises sees the current tightness in the truck market continuing into 2021 as inventory restocking will take multiple quarters to accomplish and drivers are in short supply.
Werner Enterprises’ third-quarter result comes in ahead of analysts’ forecasts.
Management from truck broker Landstar sees no near-term letup in tight truck market fundamentals. The company’s fourth-quarter guidance brackets its EPS record set in the fourth quarter of 2018.
Knight-Swift Transportation’s third-quarter report provides an earnings beat, a 2020 guidance raise and a better-than-consensus first take at 2021 earnings as the carrier sees “strong freight conditions” continuing.
Data and commentary point to an earnings blowout for trucking companies in the third quarter with the likelihood of similar results in the fourth quarter. However, headwinds surrounding driver recruitment and retention present a hurdle to the rally.
Soaring demand and a lack of truck capacity have industry participants calling for double-digit rate increases in 2021. UBS transportation equities analyst Tom Wadewitz outlines his bullish call in a note to clients.
Transportation capacity has dropped to new lows and the precipitous rate at which pricing is increasing is expected to continue for at least the next 12 months, according to a September supply chain survey.
Cass data for the month of August shows significant acceleration in demand and rates but the comparisons to 2019 still lag other data sources.
Recent stabilization in truckload markets with a recovery expected later in the year were some of the takeaways from Wolfe Research’s investor conference.
Landstar has seen volume declines accelerate in recent weeks and management believes that a recovery is unlikely until the automotive and building products segments resume activity.
Virus-related demand headwinds bring fresh declines in February Cass data. Visibility into a potential trucking recovery is further clouded.
Outlook for future improvement to earnings is still hazy as Morgan Stanley analyst lowers fourth-quarter estimates for most transportation companies.
The biggest truckload carrier in the U.S. Knight-Swift cuts its fourth quarter 2019 earnings outlook again. The company plans to “revise” its first quarter 2020 guidance in January.
