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.
BorgWarner Inc., which makes engine components and drivetrains for combustion, hybrid and electric vehicles, reported lower third-quarter earnings on slightly higher sales.
Trimble misses revenue estimates for third quarter of 2019.
Updated at 8:40 p.m. Atlas Air Worldwide Holdings Inc. (NASDAQ: AAWW), buffeted by a weak global airfreight market exacerbated by trade disputes and disruptions from a labor dispute with its pilots, lost $879,000 in the fiscal third quarter from operations, compared with a $54.5 million operating profit in the same period a year ago. Operating […]
Updated at 3:15 p.m. EST. Earnings call adds. Cargo business fell during a challenging third quarter for American Airlines [NASDAQ: AAL], which faced operational disruptions and higher costs from labor issues, weather and the grounding of the Boeing 737 MAX. As previewed, the Dallas-based carrier reported Thursday that cargo revenue fell 20% to $208 million […]
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.
The company warned of its upcoming poor performance in September but still missed analyst’s earnings estimates.
Updated 6:32 p.m. Aircraft maker Boeing [NYSE: BA] is reporting sharply lower earnings for its fiscal third quarter as the company deals with the grounding of its new 737 MAX short-haul jet involved in two deadly crashes. The commercial airplanes unit experienced a 41% drop in revenues to $8.2 billion, reflecting lower 737 deliveries, according […]
Paccar Inc. delivered 31,000 trucks in the third quarter, helping the parent company of Kenworth Truck Co. , Peterbilt Motor Co. and DAF beat earnings estimates.
Swedish truck maker AB Volvo reported higher third-quarter profits and sales on Friday, October 18. But it warned that orders for new trucks in North America and Europe continue to decline and a strike at its Mack Trucks unit could pinch profits depending on how long it lasts.
Story updated at 5:01 p.m. to reflect correction for passenger costs. United Airlines [NASDAQ: UAL] expects to drive down growth in operating expenses starting next year by replacing smaller aircraft with larger ones, primarily on domestic routes. Third quarter cost per available seat mile (CASM), excluding fuel and non-core expenses, increased 2.1% year-over-year to 9.8 […]
This story was updated at 7:40 p.m. EST, 10/16/19. Correction also made for percent drop in Delta’s cargo revenue. United Airlines [NASDAQ: UAL] reported cargo revenue dipped 4.7% to $282 million year-over-year in the third quarter, but more than made up for it with passenger and ancillary revenue. Operating income soared 24.1% to $1.47 billion […]
Updated: 3:41 p.m. Correction: Cargo revenue dropped 17%. Representing $37 million less, not 37% drop. Delta Air Lines’ cargo revenue dropped 17% to $189 million in the third quarter and year-to-date is off 13% to $567 million compared to the same period last year due to lower volumes and yield, the company reported Thursday. Delta […]
CMA CGM expects an even better second half to the year following its acquisition of CEVA Logistics.
Navistar International Corp. blew past revenue and earnings estimates for its third fiscal quarter. It is reducing production but expects to gain market share in a softening market.
Yang Ming had an operating profit in the second quarter but notes U.S.-China trade conflict has weakened demand for container transportation.
Hapag-Lloyd says it outlook for the second half of 2019 is unchanged even if it has to deal with more trade restrictions.
The beat comes after the company fell short of earnings expectations last quarter, coming in over 23 percent short of estimates.
At 10:30 a.m., its price was down almost 16 percent.
The company reported diluted earnings per share (EPS) of $0.53, $0.01 short of estimates and $0.02 higher than the second quarter of 2018.
