Radiant Logistics uses cost savings to offset demand declines from COVID-19. The fiscal first quarter sees debt decline further as acquisitions remain on the table.
Electric delivery van maker Workhorse Group draws tough questions from analysts following battery supply issue and lack of deliveries to UPS.
Workhorse Group said 36% of its production staff is sidelined by the COVID-19 virus or awaiting test results. The company ditched its projection of building 300-400 electric delivery vans by the end of the year and badly undershot Q3 sales and earnings projections.
While some truckload carriers posted significantly better-than-expected results, most saw their shares sag as the bullish trucking trade cooled heading into the third-quarter earnings season.
Americold announces another large acquisition, a couple of expansion projects, and informs analysts and investors that the holidays haven’t been canceled.
FleetCor’s third-quarter revenue topped most Wall Street expectations for revenue at $580.8 million, while its earnings per share missed expectations by 46 cents.
Wabash National saw a 37% surge in its backlog of trailers to build from the second to the third quarter as record orders piled in. Third-quarter margins declined but the trailer and last-mile equipment builder was profitable.
Sunnyvale, California-based Trimble Inc. is a provider of technology solutions for trucking companies, freight brokerages and third-party logistics providers.
Heartland Express raises driver pay 6% across the board and as high as 12% for some.
Logistics provider ArcBest is experiencing some of the strongest tonnage trends in the company’s history. The year-over-year comparisons turned positive in August and have continued to climb.
Landstar System announced that its CFO was stepping down immediately. President and CEO Jim Gattoni will act as the company’s CFO on an interim basis until a replacement is found.
Logistics provider ArcBest beats third-quarter expectations by 50%. Improved demand and cost management drive the result.
YRC Worldwide announced several changes in its third-quarter report. The biggest was that the carrier has already accessed CARES Act relief money to replenish its fleet.
YRC Worldwide announced that it has accessed the first $75 million of the second tranche of the CARES Act loan it received in July. These funds are to be allocated for upgrades to the fleet.
Flatbed carrier Daseke Inc. cruises past third-quarter forecasts. Operations are likely to improve again in 2021 but high-margin third-quarter project freight could create some tough comparisons.
Universal Logistics credits its turnaround to the resurgence of the North American automotive industry, particularly in the light-truck and SUV markets.
USA Truck’s third-quarter performance was something management had been foreshadowing for the last few quarters. They were adamant that earnings would improve if the market would cooperate.
Flatbed carrier Daseke Inc. posted a third-quarter result that highlighted the company’s restructuring efforts and easily surpassed analysts’ expectations.
Hub Group sees a strong demand environment continuing as most of its customers are operating with lean inventories. The company expects tight freight fundamentals to create a favorable rate environment in 2021.
Universal Logistics reported revenue of $365 million during the third-quarter, a 2.8% decrease compared to the same period last year.
