Company Earnings

Contract logistics giant GXO posts a better-than-expected earnings per share and affirms its full-year targets.

Flatbed hauler Daseke said its trucks remain “booked solid” and that it will look to use cost and efficiency initiatives to improve results again in 2023.

High utilization rates show a demand for rail cars, executives for FreightCar America said during a third-quarter 2022 earnings call Tuesday.

German shipping and logistics giant Deutsche Post DHL has raised its full-year profit guidance to a record of $8.38 billion.

Revenues and expenses were little changed from last year at Expeditors but profitability rose.

Higher revenues in Q3 weren’t enough to offset a 30% increase in operational expenses for western U.S. rail carrier BNSF.

Cargo continued to dominate the passenger side at Korean Air during the third quarter.

Railcar manufacturers expressed five themes in recent earnings calls. Their consensus: There is still much to be upbeat about.

Fleet growth will be held steady as the truckload carrier pivots back to a more traditional model.

The $3.3 billion acquisition of Meritor Inc. took a bite out of Cummins’ Q3 earnings as did underperforming joint ventures in China.

Europe must replace all seaborne crude imports from Russia within the next few weeks. Crude tanker owners stand to gain.

Nikola Corp. is laying off 7% of its workforce and slowing electric production because making more increases the loss.

Logistics real estate operator Link Logistics said “broad-based demand” further narrowed vacancy rates and produced record lease spreads in the third quarter.

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.

Less-than-truckload carrier Yellow Corp. navigates second year of volume declines amid network overhaul.

Supply chain technology provider Trimble Inc.’s transportation revenue dropped 10% in the third quarter.

Maersk’s guidance implies fourth-quarter earnings will plunge 39% compared to the third-quarter peak.

Heartland Express said recent fleet acquisitions will take three years to match the level of its legacy operations.

Forwarding income from operations was nearly cut in half and truckload prices to customers fell by double digits year over year.

Cargo revenues from Sun Country Airlines’ Amazon business were flat in the third quarter.

TravelCenters of America Inc. announced Tuesday it topped $2.8 billion in revenue for the third quarter.

Product-tanker share prices are up triple digits year to date as investors position for sanctions upside.

ArcBest beats expectations in a noisy third quarter. Tonnage declines and cost inflation during the fourth quarter will put the model to the test.

Uber Freight’s EBITDA was barely positive in the third quarter on a decline in revenue.

Truckload carriers prepare for the other side of the freight boom.

Less-than-truckload carrier Saia slightly missed third-quarter expectations and noted volumes softened as the quarter progressed.

The world’s seventh-largest ocean carrier expects profits to fall, yet its projections remain vastly higher than pre-COVID levels.

XPO Logistics’ third-quarter results were at the high end of preannounced ranges. The fourth-quarter outlook calls for continued growth but with some cost pressures.

Air Canada has extra cargo capacity thanks to its first freighters, but that didn’t prevent a 23% fall in cargo revenue in the third quarter.

Daimler Truck now thinks it will earn more money in 2022 because parts shortages are improving and its backlog-to-build schedule is shrinking.

In the first earnings call since its AB5-driven deal with the Teamsters, Universal CEO Tim Phillips speaks positively about its impact.

TFI posts strong third-quarter results and boosts its dividend by 30%. But much of the focus is on the work in progress at T-Force Freight.

Traton Group relied on Navistar to boost nine-month sales by 11% while a litany of industry issues pressured income.

Lufthansa Airlines’ cargo subsidiary continued to earn profits during a difficult third quarter, even as the market softened.

Hub Group reported year-over-year increases in its intermodal, logistics and truck brokerage segments during the third quarter.

Amazon reported a third-quarter sales deceleration that it says will persist into the holidays.

Canadian Pacific is working to ensure that merging operations with Kansas City Southern goes smoothly, officials said during the railway’s third-quarter 2022 earnings call.

Schneider National beat expectations for the third quarter but pulled in guidance as peak season is likely to be “muted.”

Forward Air highlights several growth opportunities that will push results higher again in 2023 even if the economy slows further.

Faster train speeds and shorter dwell times will open up network capacity for NS, officials said during the company’s third-quarter 2022 earnings call.

Used truck prices helped Ryder in comparison to last year, but the market is weak going forward.

Kuehne+Nagel is the largest logistics company in the world. It sees opportunities to capture more business as shipping demand falls.

Trailer and final-mile equipment maker Wabash crushed third-quarter earnings estimates and built its backlog for a rainy day.

Old Dominion said Wednesday that it’s likely more than half way through this volume downturn.

CN expressed confidence it can handle any market downturns, pointing to areas such as grain and coal where demand strips away any potential macroeconomic softness, officials said during the railway’s third-quarter 2022 earnings call.

The maker of Kenworth, Peterbilt and DAF Trucks reported record Q3 net income on strong across-the-business performance.

UPS reported higher-than-expected earnings per share and reaffirmed its full-year targets.

Rallying employees to serve customers better will ultimately help CSX gain more business, the new president and CEO said during the company’s third-quarter earnings call Thursday.

Truckload carrier P.A.M. Transportation Services reported better-than-expected third-quarter results on Thursday after the market closed.

UP is keeping a “growth mindset” as it looks to 2023 despite economic headwinds and an unresolved labor situation.

Covenant Logistics announces in its third-quarter earnings release that Paul Bunn will be president and COO in the latest management changes.

Some numbers at the new network at TriumphPay were lower, but other key indicators were on the rise.

Volvo Group posted solid Q3 results but said ongoing supply chain issues will cause shutdowns and raise prices.

The air cargo market’s deceleration this year had a greater impact on third-quarter cargo revenues at American Airlines than its primary rivals, Delta and United Airlines. But the best revenue […]

Broker Landstar System reported another strong performance in the third quarter. However, the company now comps to the peak of the freight boom.

Knight-Swift Transportation missed analysts’ forecasts for the third quarter and dialed down expectations over the near term.

Tesla aims to build 50,000 units of the Semi all-electric Class 8 truck by 2024 at its factory in Nevada.

Logistics warehouse operator Prologis lowered expectations for 2022 but remains confident that any macro-induced decline in fundamentals won’t keep rents from growing again next year.

Prologis posted record results during the third quarter but reeled in guidance given “an uncertain economic backdrop.”

J.B. Hunt Transport Services beat third-quarter expectations Tuesday but said that cooling freight demand will place greater scrutiny on cost control moving forward.

United Airlines continues to deliver strong cargo results each quarter even as global trade softens.

J.B. Hunt Transport Services beats third-quarter expectations on improved intermodal and dedicated results.

XPO Logistics issued long-term financial targets for its less-than-truckload segment and its brokerage unit, which will be spun off next month.

First-to-report Marten was solidly better than a year ago but with some signs of a slowdown from the second quarter.

Delta Air Lines’ cargo division had a Goldilocks third quarter: not too cold and not too warm.

Labor negotiations and rail service issues dominated an otherwise quiet third quarter.

Radiant Logistics will restate financial results for 2021 and the first three quarters of 2022, according to a filing with the Securities and Exchange Commission.

FedEx has pulled its guidance a week before releasing first-quarter results. The company reported a $572 million year-on-year decline in FedEx Express’ operating income as macro weakness and higher costs took a toll.

Cass data shows freight volumes reached a more than four-year high in August. But linehaul rates slid for the third straight month.

The MerQube FreightWaves Supply Chain Tech Index is introduced.

Less-than-truckload carrier Yellow Corp. sees tonnage fall by mid-teen percentages in the first two months of the third quarter as it implements the first phase of its restructuring.

The MerQube FreightWaves Supply Chain Tech Index is introduced.

Less-than-truckload provider Forward Air continues to register notable revenue growth more than one year into freight swap.

Flatbed operator Daseke saw its debt rating upgraded by S&P Global Ratings.

Management teams from a couple of the nation’s largest fleets share their thoughts on peak season and rates during an investor conference.

More signs of slowing in the less-than-truckload industry appeared Thursday when ArcBest provided a third-quarter update.

Third-quarter updates from less-than-truckload carriers highlight a freight market that continues to slow.

Odyssey Logistics, a 3PL that specializes in metals and chemicals, had its debt rating upgraded by Moody’s.

Quarterly data from BMO, a major lender to the trucking industry, does not suggest significant financial pain among its clients.

Just two supertankers have been ordered in the past 14 months, raising the risk of a future shortfall in oil transport capacity.

The Russia-Ukraine war caused demand for LNG to surge. Owners of LNG carriers are in prime position to profit this winter.

Truckload carrier Heartland Express will take on another difficult turnaround in CFI, which it acquired from TFI International for $525 million.

OOIL reports record revenue but has “legitimate concerns about the impact of inflation and interest rate rises on consumer spending.”

Heartland Express announced Monday the acquisition of CFI’s non-dedicated dry van and temperature-controlled fleet in the U.S. and its logistics operation in Mexico.

Trans-Pacific spot container shipping rates continue to head lower. Zim appears more at risk than some of its rivals.

Walmart pulls back on its order activity to align its inventory levels with projected demand.

Daimler Truck posted improved revenue and income in Q2 but expressed full-year concerns because of Russia’s war on Ukraine.

Yang Ming summed up its second quarter and the first half of 2022 in about 150 words.

Hapag-Lloyd bookings point to a gradual unwind of the container shipping boom, not a crash.

Hyliion still depends on its hybrid electric booster for its revenue, but the orderbook expanded 11% for the Hypertruck ERX in Q2.

South Korean ocean carrier HMM expects “downward pressure” on demand growth in the second half of 2022.

Despite economic headwinds, the rail car manufacturing market will find support in the second half of 2022 amid tight rail car supply and improving rail service metrics, FreightCar America executives said on an earnings call.

Workhorse Group recorded next to no revenue in the second quarter as CEO Rich Dauch’s transformation hits the one-year mark.

Despite lower volumes in BNSF’s consumer, agricultural, industrial and coal segments, the railroad’s freight revenue rose to nearly $6.3 billion on higher revenues per carload.

Improvements in rail service and “unparking” locomotives are market signals that could bode well for Wabtec in the back half of this year.

XPO recorded several records in its second-quarter earnings as it prepares to turn over Brad Jacobs’ CEO seat to Mario Harik.

It looks increasingly likely that war-driven changes to global crude flows will persist for an extended period.

Record results by the cargo division pulled Deutsche Lufthansa AG to profit in the second quarter for the first time since the COVID crisis began, underscoring how moving goods has […]

Supply chain technology provider Trimble reported transportation revenue of $150 million for the second quarter.

Air Transport Services Group rode the e-commerce wave to another profitable quarter.