• DTS.USA
    5.320
    -0.013
    -0.2%
  • NTI.USA
    2.800
    0.000
    0%
  • NTID.USA
    2.760
    -0.100
    -3.5%
  • NTIDL.USA
    1.940
    -0.100
    -4.9%
  • OTRI.USA
    6.190
    0.010
    0.2%
  • OTVI.USA
    12,391.500
    -166.900
    -1.3%
  • DTS.USA
    5.320
    -0.013
    -0.2%
  • NTI.USA
    2.800
    0.000
    0%
  • NTID.USA
    2.760
    -0.100
    -3.5%
  • NTIDL.USA
    1.940
    -0.100
    -4.9%
  • OTRI.USA
    6.190
    0.010
    0.2%
  • OTVI.USA
    12,391.500
    -166.900
    -1.3%
FinanceNewsTruckingTruckload

Another trucking company announces its closure today

Ellenwood, Georgia-based Ready Trucking will cease operations effective August 30, 2019 according to CDL LIFE.

FreightWaves attempted to reach someone with the company to confirm its closure, but was unsuccessful.

Ready Trucking’s Google listing shows the entity as “permanently closed.” Corporate Google listings are typically managed by a member of a company at Google My Business.

Ready Trucking has 108 power units, 91 drivers and recorded more than 5.6 million miles in 2018 according to the Federal Motor Carrier Safety Administration’s SAFER database. The family-owned company was established in metro Atlanta in 1968, operating as a local cartage company. The carrier began to offer regional service following industry deregulation in 1980.

News of Ready Trucking’s closure follows another announcement today, August 28, after private equity-held HVH transportation (344 power units) ceased operations abruptly.

2019 has been the worst year of profitability in the trucking industry in over five years. Even the downturn of 2016 was not nearly as painful in terms of operating losses.

Truckload operating ratio: Past five years. SONAR: OPRAT.VCF
SONAR users can interact with this dashboard by clicking here.

According to operating ratios across the industry, the average dry-van truckload carrier has teetered on losing money every month in 2019.

Operating ratios (OR) measure operating costs in relation to revenues. A high operating ratio is considered a bad thing (a 100 is an operating break-even, anything above one-hundred is a loss and anything below represents operating profit). OR will come before any debt servicing, distribution, or taxes. 

This data is compiled based on financial reports from over 220 truckload fleet profiles, representing over 70,000 trucks, ranging from mid-sized (75 trucks to enterprise 7,000 trucks). The operating KPI data is aggregated in partnership with the Truckload Carrier Association’s Truckload Indexes and available exclusively on SONAR

Nine mid-size and large carriers have shut their doors in 2019 including HVH, NEMF, Falcon, and LME. 

Several carriers have called it quits in 2019 as excess capacity, unfavorable spot rates and cost inflation have weighed on profitability.

Trucking Failures – EXIT.USA – SONAR



24 Comments

  1. I have held a class A license since 1993, have had my own business twice in the field, have been a manager with three companies and this year I have decided to try and find another line of work, I am 45 years old. The government has made the field horrible and almost intolerable. I use to enjoy the career, now I have wasted over 20 yrs in it. The government along with the ridiculous insurance rates have also made it almost impossible to have a profitable business, add in all the BS and its not hard to understand why this profession is in turmoil. Goodbye cdl life, I will not miss you

    1. Completely agree with you Sir Vance! Been trucking for 10yrs and this industry has hit Rock Bottom! Definitely a MUST to get out of this misery of Industry!

  2. This is because Mexican companies are now
    Allowed to deliver freight all over U.S.A. and pickup
    A load and take it back to Mexico or Canada

    1. This is not correct. Under NAFTA they had a range of up to 500 mls under the new deals with Mexico they had that range reduced to 200 mls. I think you need to read the laws you’re referring to before speaking.

        1. Immigrants working for peanuts all over trucking.

          Just another owner operator advertising the beautiful country they come from…

          If these countries are so great, why don’t they go back???

  3. This is not just ridiculous, but a true insult to us drivers. I wasnt with Ready Trucking but I’m one of tens of thousands this year that was not only fired, but forced to retire since we have no options other than huge companies. The whole point of getting millions of safe miles is to get as far away from that as possible, but this is America in 2019, so screw the hard working citizens.

    1. I became an owner operator, found my niche in a specialized market in the long haul field. So far I’m doing great even under the “pressure” that seems to be crushing everyone else. If this is the worst I’m ready for the best. I’ve increased my person income over 30% and I’m doing well. Dry van, and refer have been a losing division since the 1980s if you looked at the trends it wouldn’t be a shock. I’m hoping to higher my first driver next year and so far it’s looking good. The issue for me is no one wants to work in my division because you have to actually work.

      1. Actually work???? what ahell are youvtalking about? driving is aot actual work? Sir,it seems to me you have little understanding of what work is.
        If you mean throwing tarps and chains as work,that s work,but sir,so iis driving,seems to me you do not understand what is involved in driving a truck for million and millions of miles.

  4. Looking from the outside in, there are to many long distance carriers. Just as in any industry when you have a glut of supply, prices are going to drop. And depending on how many companies are in financial difficulty, it becomes a race to the bottom in pricing. It has nothing to do with the government or Mexican trucking companies.

  5. I’m a new trucker, but I don’t see what everyone is upset over. You have to take a little extra time to do your job correctly i.e. keeping electronic logs updated. Seems easier and faster than constantly falsifying paper logs and running hellishly long hours. Shit, somedays I hit 8 hours and I’m done.

    1. You said it all Brian you don’t want to work if you only work 8 hours a day you ain’t no truck driver your steering wheel holder I’ve been doing this since 1990 man paper logs is where it’s at so anyway you can’t make money today .I seen my paycheck cut in half I was making more money in the 90s than I am today. Yeah Brian you couldn’t have made it in the 90s would leave Murfreesboro Tennessee on a Sunday being right outside of La Monday night to unload Tuesday morning AND I DIDN’T GET MY CDL FROM A DRIVING SCHOOL.I EARNED MINE .Company’s are sticking it to driver’s now I have a company that I left two weeks ago and they owe me 2000 dollars never had that problem back in the day
      Ride safe

  6. ONE DAMN THING IS FOR CERTAIN!.. THE CEOs AND ALL THE LIMP WRISTED PENCIL PUSHING DEMIGODS.WILL COLLECT THEIR PAY CHECK AND BONUSES AND SEVERANCE PAY… ETC. !!? WHILE DRIVERS.. THE DISPOSABLE COLLATERAL DAMAGES.. CAN BE STRANDED IN UH.. LET’S SAY FRITCH TEXAS AND NOT BE ABLE TO CASH A COMCHECK.. BUY FUEL OR EAT!! THAT’S WHAT HOMELESS SHELTERS AND RESCUE MISSIONS ARE FOR… RIGHT??! SCREW A BUNCH OF TRUCKING COMPANIES!! AND ALL THE DISRESPECTFUL BEHAVIOR DIRECTED TOWARDS THE BACKBONE OF THEIR MONEY GRUBBING ASSES. GOOD DAY.

  7. Its always a sad thing to see any carrier go out of business. We just came off the best year trucking has seen in many years and this shows how stressed these companies were before. This would have happened to a lot more companies quicker had 2018 not happened. The saying is true “only the strong survive” and in the trucking world the market will kill off the weak. Cash is always a crunch and especially for the smaller carriers running on thin margins. With the closing of these fleets thought it does open up opportunities for the ones that are surviving. Customer service is a big part of survival in this game. There still are good smaller companies out there that do care about their drivers you just need to find one that fits. This industry is changing and either you adapt or die (or get out). The country needs trucks and especially drivers now more than ever. My opinion is the getting is going to get better. Hang in there drivers.

Todd Maiden

Based in Richmond, VA, Todd is the finance editor at FreightWaves. Prior to joining FreightWaves, he covered the TLs, LTLs, railroads and brokers for RBC Capital Markets and BB&T Capital Markets. Todd began his career in banking and finance before moving over to transportation equity research where he provided stock recommendations for publicly traded transportation companies.