Strong spot market fundamentals and low inventories prompt UBS analyst Tom Wadewitz to raise truckload carriers’ earnings estimates for the second half of 2020.
Demand headwinds will place “downwards pressure on revenue and earnings likely into 2021” for trailer manufacturer Wabash National. This was part of the rationale behind credit rating agency Moody’s lowering its ratings on the company.
The commission overseeing pandemic loans has asked the Treasury Department for virtually every document that was used to grant struggling less-than-truckload carrier YRC a $700 million loan.
FreightWaves’ JT Engstrom and Tenney Group’s Spencer Tenney sit down at the FreightWaves Carrier Summit to discuss reasons trucking deals are outpacing broader deal flow.
Declines in Cass freight data continue to outpace the industry by a considerable margin. The firm sees improved results on the horizon.
Carriers with exposure to essential retail are benefiting from increased freight demand as retailers of grocery, household and home improvement goods struggle to keep inventories on their shelves.
Walmart’s fiscal second quarter comes in well ahead of analyst expectations as e-commerce sales surge. The COVID-related inventory drawdown is a positive for trucking.
An interview with Daseke CFO Jason Bates highlights the company’s financial turnaround. When will the carrier get back on the acquisition trail?
Roadrunner fully exits truckload business and announces financial improvement. The company adds former Celadon CEO to the board.
Cold storage facility operator Americold Realty Trust’s second quarter was slightly below expectations on choppy demand and increased COVID costs.
Shares of Daseke surge 20% as the company’s overhaul appears to be ahead of schedule. Second quarter results were better than expectations.
Flatbed carrier Daseke’s turnaround starting to show fruits. Stock pops more than 15% on better-than-expected second quarter.
TravelCenters of America has been forced to close some restaurants again as an increase in COVID-19 cases has tightened restrictions on dining out in some regions.
More than a year from producing heavy-duty electric trucks, newly public Nikola reported an $86.6 million second-quarter operating loss.
YRC management believes it will take four to six quarters to complete $400 million worth of equipment replacement.
YRC Worldwide’s second-quarter loss came in ahead of expectations. The earnings call is likely to focus on the company’s path forward.
Old Dominion Freight Line says it has expanded its network of service centers by nine so far in 2020. The expansion will facilitate the carrier’s efforts to grow market share.
Forward Air lays out plans to expand its less-than-truckload footprint. More terminals are expected to open this year.
Hub Group’s second-quarter earnings beat was accompanied by the expectation for intermodal volume to increase in the high-single-digit range for the rest of the year.
Improving demand and truckload fundamentals are expected to drive third-quarter growth. The carrier’s growing cash balance garners some attention.
