Morgan Stanley analyst Ravi Shanker believes rate expectations of truckload management teams haven’t been reflected in 2022 earnings estimates yet.
Driver pay increases continue to roll in as a strong macroeconomic environment shows little signs of slowing.
More trucking heads weigh in on rate expectations for 2022. Following a sizable rate bump this year, it appears that rates could move considerably higher again next year.
August data from Cass shows freight expenditures extend their torrid pace. Freight demand remains high but a lack of capacity is constraining shipment growth.
Rate predictions for the truckload market are coming in earlier than in past years. High consumer demand along with a lack of drivers and equipment has industry participants calling for further increases.
As freight markets enter the second year of peaklike conditions, FreightWaves caught up with Amit Mehrotra, Deutsche Bank’s transportation analyst, to talk about how this freight cycle will play out.
A third-quarter outlook from truckload carrier U.S. Xpress sees volume and rate strength lasting throughout 2021. However, driver and supply chain labor challenges present risks.
Covenant Logistics Group beat second-quarter earnings expectations and said the second half of the year is likely to produce stronger results.
Covenant Logistics Group reported a better-than-expected second quarter as freight demand remains elevated and capacity is in short supply. The company said the favorable conditions have carried into the third quarter.
P.A.M. Transportation benefited from a tight truckload market in the second quarter to post record revenue and operating income.
Adam Miller, CFO of Knight-Swift Transportation and president of Swift Transportation, joins George Abernathy, president of FreightWaves, during Day 2 of FreightWaves LIVE @HOME to talk capacity, drivers, rates and more.
Commentary from trucking executives at an investor conference suggests the capacity crunch may last well into next year.
Freight shipments continue to break records with little signs of slowing. The year-over-year comparisons get tougher in the back half of 2021 but the current supply-demand dynamics may not change all that much.
Schneider National’s first quarter comes in ahead of analysts’ expectations and the company raises its full-year outlook by 8% at the midpoint of the range.
Werner Enterprises reported a first-quarter record for operating income Wednesday after the close. Revenue-per-mile guidance in its one-way segment moved higher.
First-quarter earnings reports from truckload carriers highlight a booming freight market. A strong consumer, tight truck capacity and elevated rates appear the likely dynamics for the remainder of the year.
GP Transco is the latest carrier to raise driver pay. Base pay alone for company drivers moves 15% higher.
Heartland Express reported a slight miss on first-quarter earnings expectations Wednesday. The carrier pointed to relative strength in March as it exited the quarter, noting that driver pay will need to be raised again.
Driver pay continues to step higher as truck capacity remains very tight and consumer spending high.
Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.
