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.
Schneider National missed third-quarter expectations Wednesday, but shares of the truckload carrier were up 4% in early trading.
Truckload carrier Heartland Express reported another loss in the third quarter and said cost cutting alone won’t return it to profitability.
Pam Transportation said even though its third quarter was bookended by soft demand, it saw sequential improvement in operating trends.
Knight-Swift Transportation beat the third-quarter consensus estimate but provided a mixed earnings outlook for the next two quarters.
Freight factoring platform Outgo said a recent $15 million funding round has allowed it to ramp funding speeds to carriers.
Executives at some of the nation’s top truckload carriers say it’s still too soon to know when the market will turn.
Data from Cass Information Systems showed year-over-year declines in volumes and costs slowed in July.
Truckload carrier Pam Transportation Services lost money again in the second quarter but said it saw signs of an improving freight market as the quarter closed.
Knight-Swift Transportation said the trough of the freight cycle has likely passed and that it is now focused on growing its less-than-truckload business.
A couple of truckload carriers provide an update on recent trends following a slew of poor first-quarter reports.
Heartland Express’ fourth quarter benefited from large gains from terminal sales, without which the truckload carrier would have seen another loss.
A quarterly survey of shippers suggests the trucking market is still distanced from a material recovery.
Earnings estimates for truckload and less-than-truckload carriers get a notable negative revision at Morgan Stanley.
Truckload carrier Heartland Express missed first-quarter expectations.
Freight broker Landstar System sees a big earnings falloff from the all-time high established a year ago.
Knight-Swift Transportation said it’s not backing away from M&A opportunities following its $808 million purchase of truckload carrier U.S. Xpress.
In a first-quarter earnings preview, Deutsche Bank analyst Amit Mehrotra said he expects an in-line type quarter but voiced some concerns.
Werner Enterprises announced Thursday that Christopher Wikoff will succeed John Steele as the company’s chief financial officer.
Management from Werner Enterprises parses through 2023 expectations on a Tuesday evening call with analysts.
Jones Logistics said Thursday it has acquired dedicated carrier Nationwide Express.
Schneider National provided better-than-expected fourth-quarter results Thursday, and its 2023 guidance also came in ahead of analysts’ expectations.
Covenant Logistics Group missed fourth-quarter expectations even when excluding expenses incurred onboarding equipment.
Temperature-controlled carrier R.E. Garrison Trucking announced it has acquired produce hauler Boaty’s Transport.
Bank of America analyst Ken Hoexter now has a buy rating on most of the truckload carriers he follows.
Cox Transportation announced Wednesday the acquisition of Outwest Express and its fleet of more than 400 tractors and 1,200 trailers.
Werner Enterprises has built a model to perform on the downside of the cycle. Management believes the carrier may be better positioned to do so than in the past.
Heartland Express said recent fleet acquisitions will take three years to match the level of its legacy operations.
Truckload carriers prepare for the other side of the freight boom.
Schneider National beat expectations for the third quarter but pulled in guidance as peak season is likely to be “muted.”
Commentary from the C-suites of trucking remains positive for the 2022 back half.
Truckload carrier Heartland Express said it expects freight demand to exceed its available capacity for the rest of 2022.
El transportador supera las expectativas del segundo trimestre
Knight-Swift Transportation rode higher revenues and better margins in all of its divisions to a beat-and-raise second quarter.
Capacity increased again in May, according to the Logistics Managers’ Index. However, the transportation market stabilized in the back half of the month.
Schneider announced the acquisition of deBoer Transportation, a regional dedicated fleet of 160 power units.
Schneider beat estimates and raised full-year expectations Thursday. Management has been “encouraged” by contractual rate renewals so far this year.
Knight-Swift Transportation lays out a thesis showing how large carriers will navigate a potential downturn considerably better than small fleets.
Cowen analyst lowers earnings estimates for truckers as data showing a loosening market mounts.
Higher diesel prices also mean higher costs for empty miles.
Werner Enterprises beat fourth-quarter expectations and announced plans to grow revenue by 10% on average over the next five years.
Schneider provided a better-than-expected earnings outlook for 2022 on Thursday. The company also raised margin targets in two key segments.
Knight-Swift Transportation reported another big quarterly result Wednesday. However, it appears the stretch of rapid growth will moderate as the comps have stiffened.
Lawrence Freight said its latest pay hike for company drivers will move annual wages to roughly $90,000 in 2022.
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.
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.
P.A.M. Transportation benefited from a tight truckload market in the second quarter to post record revenue and operating income.
High barriers are a deterrent to starting a less-than-truckload operation. Knight-Swift’s recent acquisition sheds some light on the value in owning assets in the space.
Carriers continue to push driver pay higher amid a capacity-constrained market to keep their equipment seated and on the road.
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.
Forward Air announces its “largest-ever” rate increase to capacity providers.
Refrigerated carriers Leonard’s Express and Holman Transportation join forces in latest truckload acquisition.
