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.
