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.
Ryder System (NYSE: R) reported record total revenue and record operating revenue for the third quarter. Both total and operating revenue grew across all business segments, which the company attributed to new business and higher volumes.
OD’s top line revenue grew 21.2% year over year to $1.06B and earnings per share swelled 71% to $2.12. Even more impressively, Old Dominion achieved a 78.4% operating ratio, a company (and possibly industry) record and 280 bps improvement over Q3 2017.
Knight-Swift Transportation reported strong earnings on Wednesday, and it was immediately met with praise from Morgan Stanley analyst Ravi Shanker, who wrote in a note that the company’s stock is a “relative buy, at worst, in our view.”
UPS Inc. will expand its “My Choice” customized delivery program to the business-to-business segment during the first quarter of next year.
CEO David Parker expects very strong demand in Q4 and Covenant to shift further to dedicated capacity in 2019 in an effort to “get deeper into the supply chain.”
The CEO of Heartland defends the company’s strategy that saw a lot less revenue but a lot more in profits.
A significant falloff in revenue went along with the rise in profitability as the operating ratio took a big leap forward.
A significant falloff in revenue went along with the rise in profitability as the operating ratio took a big leap forward.
Although some of its individual ORs were less than a year ago, the company said its 14-month record on OR is its best ever.
Schneider National became the latest carrier to announce that it has benefited financially from the strong pricing and capacity squeeze when it announced its second-quarter operating revenues were up 15% year-over-year.
ArcBest Corporation (NASDAQ: ARCB) recently finalized a new 5-year contract with the International Brotherhood of Teamsters. The new contract brought “major gains” for members, including vacation restoration, wage increases and health benefit preservation.
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.
Werner Enterprises had a strong second quarter, trouncing analyst consensus on its expected performance. Here are some of the highlights from its earnings release.
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.
A revenue increase boosted earnings for J.B. Hunt Transport Services (NASDAQ: JBHT), as the carrier reported second-quarter net earnings of $151.7 million, or $1.37 per share, versus second-quarter 2017 net earnings of $97.9 million, or 88 cents per share.
Shrugging off any potential disruption due to trade war, FedEx Corp. executives were upbeat about the outlook for 2019 for both the general economy and FedEx’s operating units during its fiscal 2018 fourth-quarter and year-end earnings call on Tuesday.
Large food shippers are citing rapidly inflating freight costs as headwinds to their earnings, including Smuckers, Kraft Heinz, Tyson, Hershey, and General Mills. We round up the impacts to their businesses here, based on earnings call transcripts.
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 company turned a first quarter 2017 loss into a profit this year.
