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OD’s top line revenue grew 21.2% year over year to $1.06B and earnings per share swelled 71% to $2.12. Even more impressively, Old Dominion achieved a 78.4% operating ratio, a company (and possibly industry) record and 280 bps improvement over Q3 2017.
The Unified Plan 2020 is in place in one corridor, with another to come. So far, UP executives are boasting about its success.
Tesla’s best quarter ever is a huge deal: a rich mix of high end Model 3s and lower capex helped. We still don’t think TSLA shares are rationally priced.
Daimler Trucks sold more vehicles in quarter three than a year ago, but its parent company, Daimler AG saw revenue flat for the third quarter at $45.8 billion (40.2 billion Euros).
Knight-Swift Transportation reported strong earnings on Wednesday, and it was immediately met with praise from Morgan Stanley analyst Ravi Shanker, who wrote in a note that the company’s stock is a “relative buy, at worst, in our view.”
UPS Inc. will expand its “My Choice” customized delivery program to the business-to-business segment during the first quarter of next year.
Although a full reveal of its strategy was not part of the conference call, the discussion of the “clean sheets” program shows that Norfolk Southern has undertaken a review of its operations on its way to how much of the precision railroading model it will adopt.
CEO David Parker expects very strong demand in Q4 and Covenant to shift further to dedicated capacity in 2019 in an effort to “get deeper into the supply chain.”
Crude-by-rail is big growth driver for quarter as rail remains key outlet for Canadian crude.
Revenue forecasts were reached only because of a one-time tax event. But by almost any other standard, it was a strong quarter.
Also in the pickup: IMO meets with 2020 on the horizon; Rhine levels are causing plants to shut down; C.R. England and its charitable cause
The usual signs of an upturn in the trucking sector aren’t there, according to the Wall Street house, and Morgan wonders if a lot of the demand got pushed forward.
One quarter ago, their earnings were feared to have marked a peak. But there’s no signs of that reading the third quarter numbers.
The CEO of Heartland defends the company’s strategy that saw a lot less revenue but a lot more in profits.
Also in today’s issue: a beating shows the dangers to truckers, even off the road; an Indian company looks to disrupt that company’s trucking sector.
A significant falloff in revenue went along with the rise in profitability as the operating ratio took a big leap forward.
A significant falloff in revenue went along with the rise in profitability as the operating ratio took a big leap forward.
Although some of its individual ORs were less than a year ago, the company said its 14-month record on OR is its best ever.
In her final conference call as CEO, PepsiCo’s Indra Nooyi presented their third-quarter results, once more pointing to transportation costs that threatened to eat into profits.
Transportation services firm misses first quarter estimates as company accelerates pay raises and bonuses.
A Norfolk Southern executive suggested that the company’s management will have a lot to talk about on its next quarterly earnings call.
Coverage of three companies were launched with a “buy” rating, while three of them got “hold” ratings.
HCI Equity Partners says in amended filing it may enter transaction to help Roadrunner’s balance sheet.
The growth for Walmart was strong across the board, but ecommerce and groceries were key contributors.
Seven acquisitions in the past year have nearly doubled Daseke Inc.’s topline revenue; Aveda Transportation in particular is a high-performing division commanding rich per-mile rates.
Workhorse Group, a technology company focused on offering sustainable mobility solutions, announced a new public offering of its common stock to raise additional funds as it works towards profitability.
The class 1 railroad owned by Berkshire Hathaway had the worst OR of any of the class 1 railroads for the second quarter.
Overall revenue at Roadrunner is up, but it remains burdened by high interest charges necessary to have given the company a strong capital base.
Revenue growth for the ocean and air 3PL was strong, but margins at Expeditors tightened.
In today’s pickup, CEOs on analysts calls don’t see a peak and see better driver retention for their companies. Also: OPEC output and a change in Chinese scrap policy.
Receipts from the June IPO allowed a significant reduction in debt while other initiatives cut its OR to the lowest level in years.
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.
Hub Group’s earnings per share at $0.66 beat Wall Street’s consensus estimate of $0.50, but executives said that the third and fourth quarters will be even stronger, and margins will grow even against tough comps.
ArcBest Corporation (NASDAQ: ARCB) recently finalized a new 5-year contract with the International Brotherhood of Teamsters. The new contract brought “major gains” for members, including vacation restoration, wage increases and health benefit preservation.
All of the metrics were strongly positive, but the CEO expressed disappointment with two of its main activities, automotive and dedicated
The U.S. truckload operations of TFI are mostly at CFI and Truckload America, and both had stronger quarters.
USA Truck had an aggressive plan to add trucks to its fleet, but delays at the OEMs are falling short of the targets.
It’s the first time LTL carrier Old Dominion has ever posted an OR under 80, even as it added more than 900 new employees.
The asset light logistics provider had financial records across the board and in a driver squeeze, added capacity.
The asset-light expedited LTL carrier posted strong volume and yield growth, and is tacking on intermodal businesses by M&A, but playing catch up with its truckload brokerage.
The 3PL company saw its revenue climb in both its key units, with its services in demand in a tight market.
Knight-Swift Transportation Holdings (NYSE: KNX) reported revenue growth and rising income across much of the company, with the notable exception of Swift’s refrigerated segment, during its second quarter 2018 earnings call.
Rush Enterprises posted an increase in second-quarter revenue buoyed by strong used-truck sales and significant growth in its aftermarket business, which accounts for 64.8% of the company’s gross profits.
UPS reported strong revenue supported by pricing and targeted growth initiatives during its second quarter earnings call Wednesday. Adjusted earnings per share climbed 23 percent to $1.94, and total revenue was up nearly 10 percent.
Growth in its dedicated and ChoiceLease programs drove a strong second quarter for Ryder System (NYSE: R), helping the leasing and rental giant surpass earnings expectations for the second straight quarter.
The truckload carrier is relatively small, but it had a tremendous second quarter.
The improved Operating Ratio posted by Norfolk Southern wasn’t enough to stop analysts from asking about its comparison to that of CSX.
CN had a strong quarter as it comes out of system problems that stretch back into 2017.
There is a fear on the part of some investors in the trucking space that a peak may have been reached.
Werner Enterprises had a strong second quarter, trouncing analyst consensus on its expected performance. Here are some of the highlights from its earnings release.
Amazon (AMZN: NYSE) is a power player in the online grocery scene, with sales growing at a rate of 40 percent year-over-year.
Analysts have issues with the operating rate, and price increases that seem small compared to the transport sector as a whole.
CSX hit records on operating ratio while improving train speed and dwell time, but says intermodal still needs a “ton” of work and pricing will reflect CSX’s “superior product.”
In spite of fuel surcharge adjustments, Marten today reported a 49.9% improvement in net income to $13.7 million, or 25 cents per diluted share, for Q2 that ended June 30, 2018, from $9.1 million, or 17 cents per diluted share, for Q2 of 2017.
A revenue increase boosted earnings for J.B. Hunt Transport Services (NASDAQ: JBHT), as the carrier reported second-quarter net earnings of $151.7 million, or $1.37 per share, versus second-quarter 2017 net earnings of $97.9 million, or 88 cents per share.
The company will look at its capital structure, may raise more funding, and has a strong forecast to 2020.
Intermodal is clearly benefiting from price comparisons between rails and trucks, but it’s mostly macroeconomics that fueled the Deutsche report.
A $200 million injection of new capital at Celadon is withdrawn because of a DOJ investigation, but the operating numbers are looking up.
In the one question from the earnings call, an analyst asked Roadrunner executives about the goodwill-heavy balance sheet.
Shrugging off any potential disruption due to trade war, FedEx Corp. executives were upbeat about the outlook for 2019 for both the general economy and FedEx’s operating units during its fiscal 2018 fourth-quarter and year-end earnings call on Tuesday.
Large food shippers are citing rapidly inflating freight costs as headwinds to their earnings, including Smuckers, Kraft Heinz, Tyson, Hershey, and General Mills. We round up the impacts to their businesses here, based on earnings call transcripts.
Navistar has rolled out a series of new products in the last few years and the strong overall economy is helping the once-beleaguered truck maker rebound with another strong performance in its second-quarter earnings, beating Wall Street estimates.
Much of the focus is on its financials rather than any significant shift in operations.
Maersk grew its revenues by acquiring Hamburg Süd and selling off Maersk Oil, but reported negative earnings on increased fuel prices and low spot rates.
On Tuesday, German logistics and postal provider DHL posted disappointing earnings for the 1st quarter of 2018, with headwinds from currency and the sale of one of its supply chain subsidiaries leading to a decline in revenue to 14.75 billion euros
ts best performance in year-over-year increases in revenue per hundredweight (excluding fuel surcharge) in years was not enough to turn a first quarter profit for YRC Worldwide.
USA Truck posts a strong first quarter earnings continuing its torrid turnaround pace.
NS had weak operating metrics in the first quarter, but strong performance. Hub sees a strong pricing environment for the rails.
Even with a higher cost burden, it still managed an improvement in its operating ratio.
Echol Global Logistics a 3PL based in Chicago busts through earnings estimates in the first quarter. A combination of market conditions and productivity improvements paved the way.
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.
The company is moving fast in an effort to stay on top of trends, to see industry changes as opportunities, and to continue to act offensively.
Knight-Swift’s revenues stabilized despite fewer trucks and shorter length of haul, and the two brands managed to increase their efficiency and improve operating ratios.
Covenant Transportation Group saw revenue and earnings increase and predicted that the second quarter presents an even bigger opportunity for the carrier.
Prices for used vehicles are expected by the company to stay flat for the remainder of the year.
The company takes in less revenue, makes more profits and is off a federal watch list.
The first major transportation provider out of the box with first-quarter earnings has posted a better-than-expected result in revenues with J.B. Hunt Transport Services topped revenue estimates for the quarter.
Truck sales, indices, stock price projections: all are looking bullish
New management addresses analysts with a pile of back earnings.
FreightWaves adds stock tickers for publicly traded stocks in the freight space
General Mills is citing higher freight costs as a reason for lower than expected earning. This is not an uncommon issue in today’s marketplace. There could be solutions coming in the future.
Strong revenue and profit numbers, but margins are challenged from a few years ago.
