Wells Fargo transportation research analyst Allison Poliniak-Cusic raises expectations for intermodal providers in a new report. Favorable catalysts for the mode are expected to carry into 2022.
In today’s edition of The Daily Dash, a lawmaker would like to make COVID vaccines available at a truck stop chain; the future of trucking regulations; and why is trucking employment falling?
Retailers will want to pull forward inventory ahead of the 2021 peak season, the intermodal marketing company said. Fourth-quarter 2020 revenue grew by 6% although net profit slipped by 20% year-over-year.
In today’s edition of The Daily Dash, it’s been one year since the collapse of Celadon, and FreightWaves talks to some former drivers. Plus, Estes has been hit with a COVID-related lawsuit and Covenant is bumping up driver pay.
Hub Group’s acquisition ambitions land in the final-mile sector in a $94.5 million deal for non-asset provider NonstopDelivery.
A few images convey a great deal about the intermodal rail model.
Overall, there will be lower rail volume levels continuing into the first quarter of 2021.
Project will inform regulators on ADS safety rules.
Hub Group sees a strong demand environment continuing as most of its customers are operating with lean inventories. The company expects tight freight fundamentals to create a favorable rate environment in 2021.
Even as more states roll back their reopenings as COVID-19 continues to wreak havoc across the country, there is some evidence that the strong freight volumes seen in July are here to stay for a while.
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.
The fourth quarter of 2020 or the first quarter of 2021 might be when the intermodal sector will see some volume growth. But truck capacity, fuel pricing and pandemic uncertainties make a recovery hard to pin down.
Hub Group’s first quarter miss included several one-off expenses unlikely to recur. However, volume headwinds are expected to persist in the near-term.
Hub Group joins other transportation companies in accessing revolving credit to improve liquidity.
Most companies are right near the 25% decline in the market since February 1.
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.
FreightTech will be even more important and pervasive in 2020. Learn about some of the expanding trends in FreightTech.
Third-party transportation and logistics provider MODE Transportation has acquired SunteckTTS for an undisclosed amount. The combined entity is expected to generate $2 billion in annual revenue.
While Hub Group reported a
good quarter, its near-term outlook is pretty rough. In short, Hub Group doesn’t see a peak season coming in 2019.
Carloads on the railroads remained under water in the first week of the fourth quarter 2019. Intermodal weakness will be in the spotlight as third quarter earnings season approaches.
