Cummins saw a tough environment for most of its segments in 2020 before the word pandemic became common. Now it is depending on its collective experience in managing bad times to pull it through again.
Covenant continues to reshape the company in efforts to better focus on contract logistics and improve its financial structure.
Revenue and profits look bleak for second quarter, but leading engine maker Cummins surprised analysts with better-than-expected first-quarter revenue and profits.
Daimler AG revealed difficult first-quarter results, removing mystery from next week’s earnings report, which shows all segments struggling, including its truck manufacturing business.
Landstar has seen volume declines accelerate in recent weeks and management believes that a recovery is unlikely until the automotive and building products segments resume activity.
Rush Enterprises, the largest seller of new and used trucks in the country, posted solid first quarter results but is concerned about coronavirus-related carnage to come.
Transportation invoice volumes fall 7.5% for payment services provider Cass Information Systems.
Heavy-duty truck maker AB Volvo saw business seize up in mid-March but exited the quarter with lower but still positive sales and profits.
Jason Bates will fill the vacant CFO role at Daseke after three years in the same role at USA Truck.
Margins widened again in April, but revenue per day is down 12%.
Landstar System calls attention to its variable cost model as first quarter falls short of expectations. No guidance issued for second quarter.
Knight-Swift’s better than expected quarter yields to further uncertainty as the year progresses.
Manhattan Associates first quarter was well ahead of expectations. Management lowered guidance, but believes that this downturn will be shorter in duration.
Prologis reports solid first quarter, but reels in guidance on COVID-19 headwinds. An uptick in demand is not likely until a vaccine is discovered.
Heartland Express’ better than expected result was diminished by the lack of gains on equipment sales.
Loan quality deteriorated slightly, but TriumphPay is growing fast.
With the belt tightened at YRC, a covenant waiver and benefits contribution deferral are still required.
Diminished railcar demand and COVID-19 headwinds force railcar maker to halt production and trim staff.
P.A.M. Transportation finds success calling on its “friends in the industry” as it scrambles to replace lost automotive OEM business.
The J.B. Hunt first-quarter conference call provided a mixed bag of anecdotes. While concerns mount over economic disruption, the company has some offsets.
