Company Earnings

Ship owners like Dorian LPG are reaping the benefits of very strong VLGC spot rates.

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.

YRC’s third quarter earnings show weakness at regionals, some resiliency at YRC Freight

The rail equipment and technology manufacturer sees international opportunities as an area for business to grow.

FreightCar America sees net loss more than double as it navigates the downside of railcar demand. The company’s cost restructuring remains on track.

Mitsui OSK Lines (MOL) recorded a major drop in revenues in the first half of its financial year as container earnings fell off a cliff and the U.S.-China trade war took its toll. But MOL was able to limit damage to operating profits.

Hong Kong-based port operator Cosco Shipping Ports (HKEX: 1199) has announced mixed results for the third quarter of 2019. Revenues were flat and profits were down. But box volumes rose. And analysts are bullish on the stock.

While Hub Group reported a
good quarter, its near-term outlook is pretty rough. In short, Hub Group doesn’t see a peak season coming in 2019.

Trimble misses revenue estimates for third quarter of 2019.

But the ride-hailing company still posted a net loss of $463.5 million.

Heartland Express continues to perform. The carrier posts another solid quarter in the face of a “softer” environment.

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 […]

Orbcomm, Inc. (NASDAQ: ORBC) sees its shares sell off after its quarterly report. The company’s transition to subscription service, and the accompanying delay in revenue, appears to be weighing on investor sentiment.

Saia withstands, as best as it can, a weak macro to post decent third quarter results

Analysts now want CHRW to cut costs.

Hutchison Port Holdings Trust (SGX: NS8U), a Singapore Stock Exchange-listed container terminal operator active in Hong Kong and mainland China, has reported a small decline in unaudited revenues for the nine months to September. That led to a 5% fall in profit after tax.

Hong Kong Stock Exchange-listed ocean container carrier SITC (HKEX: 01308) has reported increases in its unaudited third-quarter results despite a global trade slowdown and the China-U.S. trade war. SITC’s container revenues and volumes have both increased.

CAI International Inc. (NYSE: CAI), a leading container-leasing and logistics company, said it had modest year-over-year growth in revenue from continuing operations in the third quarter but that it had […]

Biesterfeld: “We expect that North American routing guides will continue to reset at lower prices.”

Airline’s Pacific and Atlantic routes hardest hit as trade wars continue to take a toll on air freight volumes and yield.

Indiana-based Cummins Inc. (NYSE: CMI) reported third quarter total revenue of $5.77 billion,  a decrease of 3% from the same quarter in 2018.  North America revenues decreased by 6%, while […]

Floating storage, scrubbers delays and newbuilding unease should continue to squeeze crude-tanker capacity.

Canadian e-commerce company plans to scale its nascent U.S. Fulfillment Network in 2021, leveraging third-party warehouses and a robot-enabled platform from recent 6 River acquisition.

Ryder expects used truck prices to continue deteriorating in 2020.

Fewer cargoes, lower freight rates, higher fuel costs and the consequences of operating a smaller fleet during a time of a slowdown in world trade has led intra-Asia specialist, Samudera Shipping (SGX: S56 / SAMU.SI), to report a net loss for the third quarter of the year.

XPO Logistics stays ahead of macro weakness as net income, EPS jump in q3

Orient Overseas Container Line (OOCL) said both container volumes and revenue were higher in the third quarter this year than in 2018.

Marine transportation outperforms as barging gets back to normal, but other units struggling.

The rail equipment manufacturer said it delivered record railcar deliveries in the quarter.

Global logistics software developer WiseTech (ASX: WTC) has come under renewed attack from investment advisor company J Capital. WiseTech continues to reject all claims of impropriety and asserts J Capital is simply “wrong.”

Forward Air management guided for negative EPS growth in the fourth quarter.

Correction: The story has been updated with correct figures for cargo revenue. The original story said cargo revenue increased 9% to $60 million, but that line item covers cargo and […]

General Motors strike, a personal injury lawsuit and soft freight market drive across- the-board losses.

Werner Enterprises Inc. reported net income of $39 million, or $0.56 per share, for the third quarter in 2019.

Canadian and U.S. trucking units continue to squeeze revenue and profits from uneven freight market as LTL and last-mile deliver uneven performance.

Amazon.com. Inc. (NASDAQ:AMZN) late Thursday reported third-quarter revenue of $70 billion, a 24% increase over the same period in 2018, as well as a 46% surge in worldwide shipping costs […]

Trinity Industries Inc. (NASDAQ: TRN) reported third-quarter net income of $49 million and earnings per share (EPS) of $0.39, compared to net income of $27.9 million, and EPS of $0.19 […]

The container leasing company Triton International said it had “solid” financial performance in the third quarter despite weak leasing demand since last fall.

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 […]

Top shipping execs reveal the inside story of the recent crude-tanker rate maelstrom.

Daimler AG reported high sales and earnings in the third quarter but is cautioning that tougher times lie ahead for its Mercedes-Benz car and Daimler Trucks businesses.

Old Dominion posts first year-on-year revenue drop in 3 years as macro weakness hits home

Container ship lessor says charter rates on larger vessels is improving as supply falls.

Broadford Global has made a mandatory unconditional offer for all the H shares in the dual-listed Dalian Port Co. (HKEX: 2880 and SSE: 601880) of Liaoning Province, China.

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.

Stock soars after the electric vehicle maker posts better than expected Q3 results.

Rush Enterprises Inc., the largest dealer network of commercial vehicles in North America, reported lower earnings and higher sales in the third quarter. But the company warned that a glut of used trucks is causing faster-than-normal depreciation and is hurting sales.

The company warned of its upcoming poor performance in September but still missed analyst’s earnings estimates.

In a tough freight environment, the Chicago brokerage outpaced Wall Street’s expectations.

The railway also earned record third-quarter revenue.

Intermodal was a particularly weak spot; OR at Swift a concern to Deutsche

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 […]

Scorpio Bulkers plans to continue to monetize its position in related-party Scorpio Tankers.

Further operational efficiencies will push the railroad to its target, the company said.

Toy maker Hasbro reported lower third-quarter earnings, citing tariffs on Chinese products and higher supply chain costs.

Covenant blames weak freight environment for drop in revenue and net income in third quarter 2019.

Despite lowering its operating ratio, the railroad tempers its 2019 outlook.

The abrupt retirement of Jim Barber, UPS’ CEO heir-apparent, overshadows company’s third-quarter results

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.

The rail equipment manufacturer sees high utilization rate but says economy faces uncertainty.

Better fuel prices, capacity and cost management help push up results for worlds largest ocean carrier.

SAP now appears to be emphasizing profitability and widening cloud gross margins over organic revenue growth.

The last couple of days took a dramatic turn with U.S. short seller J Capital making explosive allegations that global logistics software behemoth, WiseTech – a A$9 billion (US$6.2 billion) company, has been seriously misleading investors. WiseTech has robustly denied these claims. In other news: CTI Logistics annual results; truck rest stops “desperately needed”.

Company eyes cross-border volume growth and efficiency improvements.

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 […]

Rationalizing additional network assets is still a possibility in 2020.

Despite revenue miss. IBM continued over two straight years of earnings beats.

The eastern U.S. railroad declined to share its expectations for 2020 but said it would be prepared should rail volumes rebound.

J.B. Hunt Transport Services reports earnings light of expectations, but cost headwinds from digital platform transformation appear to be the primary culprits.

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 […]

P.A.M. Transportation Services calls out GM strike as the primary reason the carrier failed to meet earnings expectations.

Knight-Swift Transportation lowered its third and fourth quarter 2019 guidance amid intermodal and truckload woes. However, some analysts find this as a reason to celebrate.

Earnings estimates continue to be cut by equity analysts, however their outlook for the stocks is positive.

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 […]

With U.S. rail volumes slumping in the third quarter, can PSR soften that blow to the rail’s bottom line?

American Airlines [NYSE: AAL]said it expects to begin phasing in the Boeing 737 MAX into service by mid-January, nearly nine months after aviation authorities grounded the plane for safety reasons. […]

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.

FedEx posts lousy fiscal q1 results but insists that the long-term outlook remains bright

Radiant Logistics, reported several records for fiscal 2019, but the company would most like to make an acquisition or two.

Two of the nation’s largest truckload carriers said they are seeing green shoots in freight demand.

YRC Worldwide announces new debt financing agreement. The latest step in it’s latest restructuring.

The bulls are coming out in support of truckload carriers, kind of. Several equity analysts are using a recent positive inflection in TL volumes, a belief that fundamentals aren’t getting materially worse, and attractive valuation multiples to become more positive on the stocks.

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

Daseke eliminates the role of president as it increases and accelerates its cost savings initiatives. The company will continue to search for a new CEO and begin looking for a new CFO.

With rail traffic lower year-over-year and PSR initiatives in full swing, it’s understandable that soft railcar demand attracted attention at an investor conference.

Old Dominion, ArcBest report sluggish monthly

Companies like Safe Bulkers are booking their ships at considerably higher rates, yet investor interest remains muted.

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.

Third largest carrier reports rebound in results, partially thanks to rates and partially to subsidies.

COSCO Shipping Ports (HKEX: 1199)  reported higher revenue and volumes for the first half of the year. But the spin-off of a stake in one of its port assets and […]

Editor’s note: This story was updated to reflect that the company’s CEO says he is working to bring drivers home. HVH transportation, a 344-unit trucking company, has abruptly shut down. […]

Australia Post, a government-owned post and freight service, has reported revenues of just under A$7 billion but has experienced a massive fall in profits.

Heartland Express once again uses its strong financial position to acquire. The carrier has a pattern of building cash balances and finding accretive tuck-in deals.

Rates manage to outperform volume drops as carrier swings to profit.

But good news for the trucking sector: the assets stick around and activity continues

The vast majority of Aussie truck drivers are either fat or obese and they have a terrible diets, new research has found. Meanwhile, New Zealanders fund electric vehicles and Aussie trailer maker reveals a shocker set of financial results.

Trucking, freight and international forwarding business TIL Logistics (NZX: TLL) of New Zealand has reported solid revenues of NZ$355.1 million (US$226.94) and a small net profit after tax of NZD$4 million (US$2.56 million).

Qantas announces a test program to fly nonstop from New York and London to Sydney. This long-haul flight may also present cargo opportunities.

Integrated bulk, rail, trucking, box, warehousing and ports operator, Qube (ASX: QUB), has announced weighty full year earnings of A$1.73 billion (US$1.5 billion). It also made net profit after tax of 15. 4 percent to A$123.2 million. But it sees a subdued economy ahead…