Inbound container volumes into the U.S. bode poorly for future trucking volumes. Trucking is the critical node for transporting goods, handling over 70% of freight in the U.S. at a given time.
Uber beat earnings expectations for Q2, but its delivery business wasn’t the driver this time around.
Trailer pool services are gaining adoption. Wabash, a major manufacturer of equipment, recently announced a partnership with Phoenix-based freight brokerage FreightVana to supply the company with its trailer-as-a-service (TaaS) platform.
Lyft, one of the major players in the increasingly profitable ride-hailing industry, reported strong revenue growth Tuesday in its Q1 2022 earnings.
The ride-hailing giant has struggled to turn a profit over the years, but that finally changed in 2021.
“When we overperform, we expect to reinvest that back into our business. We focus on recurring revenues and establishing relationships with customers for life,” said Descartes’ CEO.
Berkshire Grey’s revenue was up 750% year-over-year, but it still missed on analyst expectations, more than tripled its net loss and more than doubled its adjusted-EBITDA loss.
Both Uber Eats and DoorDash surprised investors, but not in the ways one might think.
Domestic headwinds were balanced out by an international expansion as DoorDash stock popped 10% in post-market trading.
The road ahead looks brighter than ever for the ride-hailing giant after posting an adjusted-EBITDA profit of $8 million.
Wayfair stock is down in the early hours of trading on Thursday after a lackluster quarter.
Shopify reported 46% revenue growth but failed to impress investors as it missed Q3 expectations.
It’s an upside-down world when an airline makes more money flying less cargo than it did two years ago.
Have companies seen the best of the best when it comes to earnings potential? Andrew Cox breaks it down on this episode of Great Quarter, Guys.
As first quarter earnings continue to be announced, FreightWaves takes a look at how truckload and LTL carriers stack up.
Business payments company FLEETCOR Technologies Inc. reported EPS 19 cents above estimates for the fourth quarter.
E-commerce and shipping solutions provider Pitney Bowes reported “the highest modern-day, organic growth rate on record.”
Navistar reported lower sales and earnings in its fiscal Q4 and for all of 2020 as it prepares to become part of Volkswagen’s TRATON Group.
Wex said global uncertainty around COVID-19 affected its fuel card payment processing and corporate travel segments during the third quarter.
Atlanta-based FleetCor is a commercial fuel-card and business-payments systems provider. The company employs around 8,700 people and provides commercial card services in more than 100 countries.
On a per-share basis, the Warren, Michigan-based company said it had net income of 23 cents per share, on total operating revenues of $258 million.
UPS’ quarterly results are much better than analysts anticipated.
It is the electric vehicle manufacturer’s fourth straight quarterly profit.
“In North America, our fuel volumes are off 20% to 25%, behind last year in April,” said Ron Clarke, FleetCor’s chairman and chief executive officer.
The Seattle-based global third-party logistics provider posted revenues of $1.9 billion during the first quarter, a 6% decrease year-over-year.
Many freight and logistics providers have reported weak earnings in the past few weeks. Due to the current operating environment, these totals were expected and investors have begun buying into the second half recovery story.
FLEETCOR Technologies, Inc. (NYSE: FLT), a fuel-card and business-payments provider, announced fourth-quarter 2019 adjusted earnings per share (EPS) of $3.17, 14% higher year-over-year and $0.03 better than the consensus estimate. Total revenues increased 9% to $698.9 million in the fourth quarter of 2019, compared to $643.4 million in the fourth quarter of 2018. However, net […]
On Friday’s What The Truck?!? we talk coronavirus, ELDs, freight forecasting and more
The impact of new technology in freight brokerages and how it is changing compensation.
Carrier says it reached full-year earnings target a year early.
Happy New Year and top of the decade to you! We kick off with the top headlines of the week and bring you backhauling into the weekend with a variety of news deliveries. What is up with Y2K20 and cybersecurity? What’s the market outlook from our early-term view? Is it too early to consider consensus […]
First, we hit you with some of the latest headlines. Heniff Transportation and Superior Bulk Logistics are set to merge. Ohio-based GDS Express abruptly ceases operations. Rising wrestling star, Matt Travis, was struck and killed by truck driver, and a jury smacks a California trucking company with $70.5 million “nuclear verdict.” Plus, Amazon has some […]
CMA CGM reported solid results for the third quarter of 2019. However, those results were weighed down by the costs of financing its purchase of CEVA Logistics.
Travel Centers of America reported stronger profits and sales for the third quarter as it added locations and sold more fuel at higher prices. Watch for International House of Pancakes restaurants to begin to replace TA’s Iron Skillet and Country Pride eateries.
General Motors strike, a personal injury lawsuit and soft freight market drive across- the-board losses.
Murray Mullen suggests freight market weakness could take carriers out of business, but says his company is ready to jump on acquisition opportunities to grow its less-than-truckload business.
Indiana-based Cummins Inc. (NYSE: CMI) reported higher revenue and net income, but the power technology company’s second quarter earnings came in below analysts expectations. Cummins posted second quarter earnings of $4.27 per share, up from $3.32 in the second quarter of 2018, but below the $4.41 average estimates from analysts. The company’s stock is taking […]
Southwest Airlines posted second quarter adjusted earnings of 70 cents per share, beating Wall Street estimates of 61 cents per share. The small profits for Dallas-based Southwest Airlines came despite reporting a $175 million operating loss due to canceled Boeing 737 MAX flights, representing the loss of about 5 percent of its fleet. Southwest Airlines’ […]
Global equipment manufacturer Caterpillar’s (CAT) second quarter earnings disappointed analysts. The company cited a combination of tariffs, weaker sales in China and slower growth in the Permian Basin for the declines. The Deerfield, Illinois-based company reported a 5.1 percent decrease in second quarter net income to $1.62 billion, or $2.83 per share, compared with $1.71 […]
Volvo Group posted record second-quarter sales and earnings but warned that production cuts are likely in the second half as a huge backlog of heavy-duty truck orders from 2018 shrinks in size. (Image: Volvo)
What The Truck?!? is sending you into the weekend with all of the latest headlines and top stories from FreightWaves.com, as well as Earning Over / Under, On The Radar presented by SONAR, Fast Paced Forecast, and so much more. Let’s bang a little cowbell for the weekend and celebrate the launch of WTT?!?’s expansion to two episodes a week!
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Roadrunner Transportation Systems, Inc. (NYSE: RRTS) reported a loss of $1.78 per share versus the break-even consensus estimate. The asset-light logistics service provider’s first quarter 2019 loss was much lower than the more than $15 per share loss seen in first quarter 2018, even after a 1-for-25 reverse stock split, which was more than offset […]
Canadian National Railway Company reported adjusted earnings per share of C$1.17 per share for the first quarter 2019, 17 percent better than the same period a year ago.
Intermodal business surges from acquisitions made during 2018.
Canadian firm’s transportation segment shines as oil services shows signs of recovery.
After two deadly crashes involving its 737 MAX rattled the company, Boeing (NYSE: BA) is expected to report its earnings Wednesday, highlighting the financial toll of the flawed aircraft.
Manhattan Associates, Inc. reported adjusted non-GAAP earnings per share of $0.41, $0.04 better year-over-year.
P.A.M. Transportation Services, Inc. announced first quarter 2019 earnings of $0.99 per share excluding a $0.40 per share gain on marketable securities. Pre-tax income increased $5.1 million y/y.
Today on FreightWaves NOW, Nick Austin sees more flooding in MO; Ibrahiim Bayaan evaluates the meaning of manufacturing; and John Paul Hampstead connects the dots between a large carrier’s earning report, the spread between wholesale and retail fuel, and air cargo.
Canadian transportation and logistics firm may add as many as 68 new trucks and 160 trailers to its fleet this year.
Delphi Technologies (NYSE: DLPH) beat Wall Street’s consensus expectations of its fourth quarter non-GAAP earnings per share (EPS) of $0.88 by 20 percent according to Seeking Alpha. However, quarterly EPS decreased 14.5 percent year-over-year (Y/Y) from $1.24 to $1.06.
WABCO Holdings Inc. (NYSE: WBC) beat Wall Street’s consensus fourth quarter expectations of non-GAAP earnings per share (EPS) of $1.98 by over 7 percent and GAAP EPS of $1.97 by over 11 percent according to Seeking Alpha.
Bridgestone Corporation (OTC US: BRDCF) missed Wall Street’s consensus expectations for its annual earnings per share (EPS) of SEN (Yen) 401.86 or $3.55 by over 3 percent.
Dana Inc. (NYSE: DAN) beat Wall Street’s consensus revenue expectations of $1.91 billion for the fourth quarter of 2018.
BorgWarner Inc. (NYSE: BWA) beat Wall Street’s consensus revenue expectations of $2.55 billion for the fourth quarter of 2018, even though the company’s sales decreased 0.5 percent year-over-year (Y/Y), from $2.586 billion to $2.572 billion.
Radiant Logistics (NYSE: RLGT) achieved record revenue of $260.9 million in the company’s fiscal second quarter (the fourth quarter of 2018).
Goodyear Tire and Rubber (NASDAQ: GT) missed consensus revenue expectations of $4.05 billion.
Trimble Inc. (NASDAQ: TRMB) reported on February 6 that fourth quarter non-GAAP revenue increased 13 percent year-over-year (Y/Y) from $701.1 million in the fourth quarter of 2017 to $792.9 million in 2018.
FleetCor Technologies (NYSE: FLT), which provides fuel cards and workforce payment products and services, beat Wall Street’s consensus estimates for its fourth quarter earnings.
In its 2018 annual report, released today (February 7), DSV (NASDAQ OMX: DSV) announced that revenues grew 5.5 percent, from 74.901 billion Danish Krones (DKK), or $11.39 billion, in 2017 to DKK 79.053 billion ($12.022 billion) in 2018.
Genesee & Wyoming, Inc. (NYSE: GWR) beat fourth quarter revenue consensus estimates by $4.89 million. Revenue was expected to decrease by 0.2 percent year-over-year (Y/Y), but it increased 0.7 percent Y/Y from $571.6 million to $575.6 million, according to Seeking Alpha. GWR also beat fourth quarter consensus earnings per share (EPS) estimates of $0.89 by $0.11 to $1.00.
CHRW grew earnings per share by 24%, top line revenue by 4.5%; and net revenues by 13%.
Covenant Transport (NASDAQ: CVTI) reported record revenue in the fourth quarter, beating analyst projections by $10.72 million. The company announced $272.3 million in total revenue, a 33.9% increase compared to the fourth quarter of 2017.
Shares fall sharply amid possible downward earnings revision for ‘19
UPS Inc. will expand its “My Choice” customized delivery program to the business-to-business segment during the first quarter of next year.
Uber Inc. has witnessed a largely satisfactory quarter this year, with it continuing its expansion across different markets and venturing into new territories like food-delivery and scooter-sharing.
Seven acquisitions in the past year have nearly doubled Daseke Inc.’s topline revenue; Aveda Transportation in particular is a high-performing division commanding rich per-mile rates.
Covenant Transportation Group (NASDAQ: CVTI) reported a total revenue jump of 19.5 percent to $196.3 million in the second quarter of 2018 during its earnings call Thursday. The company also posted a 17.2 percent increase in freight revenue to $170.6 million year-over-year.
Knight-Swift Transportation Holdings (NYSE: KNX) reported revenue growth and rising income across much of the company, with the notable exception of Swift’s refrigerated segment, during its second quarter 2018 earnings call.
UPS reported strong revenue supported by pricing and targeted growth initiatives during its second quarter earnings call Wednesday. Adjusted earnings per share climbed 23 percent to $1.94, and total revenue was up nearly 10 percent.
Volvo’s Q2 had the company’s sales earnings climb past hundred billion Swedish kronor, buoyed by double digit growth figures around the world except Europe, where its market has stabilized and is at the point of saturation.
CSX hit records on operating ratio while improving train speed and dwell time, but says intermodal still needs a “ton” of work and pricing will reflect CSX’s “superior product.”
In spite of fuel surcharge adjustments, Marten today reported a 49.9% improvement in net income to $13.7 million, or 25 cents per diluted share, for Q2 that ended June 30, 2018, from $9.1 million, or 17 cents per diluted share, for Q2 of 2017.
Navistar has rolled out a series of new products in the last few years and the strong overall economy is helping the once-beleaguered truck maker rebound with another strong performance in its second-quarter earnings, beating Wall Street estimates.
Maersk grew its revenues by acquiring Hamburg Süd and selling off Maersk Oil, but reported negative earnings on increased fuel prices and low spot rates.
It will literally take an act of Congress to right the sinking USPS ship. Even heavy attrition and solid growth in packages and shipping can’t stop the losses.
The earnings show a significant shift in salaries vs purchased transportation expenses.
The company even managed to cut purchased transportation costs, which is the opposite of what many others experienced.
Even with a higher cost burden, it still managed an improvement in its operating ratio.
Drivers take a fixed percentage of every load, and the price of those loads is rising.
Earnings season is here; UPS posts 13th quarter of double digit growth; Knight-Swift finds synergies; Maersk trials autonomous ships; the Mustang is the last Ford car left; Barclays and Goldman Sachs collab on data standards for derivatives and blockchain; Union Pacific beats the Street.
The company is moving fast in an effort to stay on top of trends, to see industry changes as opportunities, and to continue to act offensively.
Prices for used vehicles are expected by the company to stay flat for the remainder of the year.
Trucking employment has grown a healthy 32% since 2012, but very small and small fleets are absorbing the new drivers, leaving large carriers struggling to seat their trucks.
Progress is being made on meeting the concerns of the Surface Transportation Board: execs
The company takes in less revenue, makes more profits and is off a federal watch list.
New 12 month price targets for FedEx stock range from $260-$310, representing 20% of the company’s value and reflecting uncertainty about how the parcel carrier will improve margins and find synergies with TNT.
Walmart did well in the fourth quarter in many areas, but not in eCommerce. As a result, it’s stock has been hammered.
Knight Trucking put 20% of its capacity on the spot market in Q4 2017 and it paid off big. Swift has also been improving its operations, and management said it will focus on fixing its reefer business in 2018.
Covenant Chairman and CEO David Parker said 2018 will bring wage hikes, rate increases, and unprecedented opportunities for team carriers due to the ELD mandate.
J.B. Hunt’s quarterly earnings call reports strong revenues and earnings, but gets a huge hand from tax reform
After a start to earnings season that saw both J.B. Hunt and C.H. Robinson miss expectations, transport stocks received a boost as both Werner Enterprises and Swift Transportation reported better-than-expected reports.
The long-awaited U.S. outline for the goals of a renegotiation of NAFTA has been unveiled, and there are few surprises in the 17-page document. The document outlines the U.S. top priority of shrinking trade deficits with Canada and Mexico.
