Tesla is focusing on making more cars, securing battery cells and finishing gigafactories in Texas and Germany. The Semi is again in the background.
Daimler Truck AG, soon to be a stand-alone business, showed a modest recovery from the pandemic-impacted year-ago first quarter.
The CEO of one of Canada’s largest trucking companies, Mullen Group, says the country’s freight market will bounce back after COVID-19 is under control.
Old Dominion Freight Line set a first-quarter record even with adverse weather conditions. The second quarter is shaping up to produce a new all-time company record.
Sweden’s Volvo AB reported a record operating margin in Q1 following a warning of up to a month of downtime due to microchip shortages.
Old Dominion Freight Line announced its best first-quarter result in company history on Thursday. Improved density and yields led to a 76.1% operating ratio, 530 basis points better year-over-year.
P.A.M. Transportation Services posted a profit in the first quarter of 2021. The bulk of the improvement came on the nonoperating line.
Truck repairs and parts sales covered all the cost of running Rush Enterprises’ dealership network in Q1 as year-over-year profits doubled.
Broker Landstar System blew out analysts’ expectations for the first quarter. The company’s earnings almost doubled from the year-ago quarter, which wasn’t materially impacted by COVID. Landstar’s new guidance calls for more of the same.
Heartland Express reported a slight miss on first-quarter earnings expectations Wednesday. The carrier pointed to relative strength in March as it exited the quarter, noting that driver pay will need to be raised again.
Knight-Swift Transportation posted a large headline earnings beat in the first quarter but it was less impressive by comparison when excluding nonoperating income. The company now sees over-the-road contract rates increasing in the mid-teen percentage range during 2021.
Logistics warehouse provider Prologis sees the real estate market tightening further in 2021. Rents are expected to step higher by mid-single digits even as more capacity comes online.
Logistics warehouse provider Prologis reports a beat-and-raise quarter. The company is forecasting occupancy to continue to tick higher even as new properties come online.
J.B. Hunt Transport Services updated its long-term division margin targets on its first-quarter call Thursday.
J.B. Hunt Transport Services announced first-quarter results well ahead of analysts’ expectations.
Forward Air’s growth plans net 11 new final-mile terminal locations in the first quarter. While recent activist shareholder interests called into question the company’s capital allocation strategy, it appears the final-mile segment remains part of the plan.
Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.
February freight data from Cass shows a deceleration in the growth rates of shipments and expenditures. Recent weather events have only “coiled the spring” for a continuation of high demand and rising rates.
Activist investor Ancora Advisors gains two seats on Forward Air’s board and endorses three others. The company’s former CFO has been brought on in a consulting role.
Flatbed carrier Daseke announced Wednesday it has reduced debt and refinanced the bulk of its remaining debt. The transaction, which will lower annual interest payments, is the latest in the company’s efforts to improve margins and financial returns.
