Schneider National beat first-quarter expectations Thursday but lowered its full-year outlook as excess capacity lingers.
A report from Cass Information Systems suggests the current softness in freight markets is likely to hang around for “several more months.”
Broker Landstar System reported another strong performance in the third quarter. However, the company now comps to the peak of the freight boom.
Knight-Swift Transportation missed analysts’ forecasts for the third quarter and dialed down expectations over the near term.
Management teams from a couple of the nation’s largest fleets share their thoughts on peak season and rates during an investor conference.
Freight payments data from U.S. Bank showed sequential increases in volumes and costs during the second quarter.
Freight demand trends in a softening market continue to be bifurcated with large fleets remaining unscathed so far.
Trucking executives at large fleets acknowledged a weakening spot market during the first-quarter earnings season but their ties to the contract market give them confidence.
Werner Enterprises continues to see solid contractual rate increases. However, it warned that newly minted carriers dependent on the spot market are likely in trouble.
The Cass Freight Index sags in January on a rise in COVID cases, but the dataset appears poised again for strong growth in 2022.
Knight-Swift Transportation reported another big quarterly result Wednesday. However, it appears the stretch of rapid growth will moderate as the comps have stiffened.
Heartland Express announced 2021 was its best year since going public. Fourth-quarter results were in line with consensus.
J.B. Hunt Transport Services beat fourth-quarter expectations. Visibility into 2022 remains murky but management is calling for continued growth.
October data from Cass shows supply chain bottlenecks and capacity shortages continue to subdue shipment growth. However, the condition led to another jump in rates.
AskWaves takes a look at which rate-per-mile metrics to use out of the information public carriers disclose quarterly.
Notable cost headwinds around driver sourcing and equipment downtime weighed heavily on Werner Enterprises’ third-quarter results. But the carrier still raised long-term margin expectations.
Landstar reports record third-quarter results and calls for a similar performance in the fourth and potentially beyond.
A look at how Knight-Swift Transportation blew past third-quarter expectations and raised its full-year guidance.
Carriers have overcome notable cost inflation and disruption to post better-than-expected results so far in the third-quarter earnings season.
Shares of J.B. Hunt Transport Services jumped 10% Friday as the company navigated supply chain challenges during the third quarter to beat analysts’ forecasts.
P.A.M. Transportation Services sees earnings surge during the third quarter even as supply chain disruption accelerates.
Supply chain constraints are keeping a lid on freight volumes while rates continue to reach new highs, according to September data from Cass Information Systems.
Morgan Stanley analyst Ravi Shanker believes rate expectations of truckload management teams haven’t been reflected in 2022 earnings estimates yet.
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.
July data from Cass showed freight shipments remained elevated but labor and equipment shortages constrained growth. Expenditures held near all-time records.
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.
Knight-Swift Transportation beat second-quarter estimates and raised its full-year guidance to include the favorable operating environment in addition to accretion from recent acquisitions. However, the improved outlook includes the expectation for continued cost headwinds around labor.
P.A.M. Transportation benefited from a tight truckload market in the second quarter to post record revenue and operating income.
Freight expenditures surged at the fastest rate on record during June, according to data provided by Cass Information Systems.
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.
Schneider National sees several favorable catalysts through the remainder of 2021 that are supportive of its guidance raise. Finding equipment and drivers will be the challenge.
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.
February freight data from Cass shows a deceleration in the growth rates of shipments and expenditures. Recent weather events have only “coiled the spring” for a continuation of high demand and rising rates.
Cass freight data released Thursday shows a huge surge in freight spending with solid growth in shipments. The report indicated that 2021 is unlikely to produce the “rate relief” to shippers that 2019 provided.
Werner Enterprises modestly lowered earnings expectations for the first quarter of 2021 due to downtime caused by recent winter storms. The company expects no change to the tight capacity dynamic for some time.
Truck broker Landstar System set records in the fourth quarter. The company is expecting the high-demand environment and improved truckload pricing to carry through at least the first quarter.
Sell-side research analysts have made their bets on trucking in 2021. Some believe a continuation in consumer spending and inventory restocking will benefit truckload carriers while others see less-than-truckload carriers gaining traction as the industrial economy advances.
P.A.M. Transportation Services sees a “marked improvement” as its auto manufacturing customer base gets back to work. The carrier expects “upward rate pressure” as truck capacity tightens.
Data and commentary point to an earnings blowout for trucking companies in the third quarter with the likelihood of similar results in the fourth quarter. However, headwinds surrounding driver recruitment and retention present a hurdle to the rally.
Soaring demand and a lack of truck capacity have industry participants calling for double-digit rate increases in 2021. UBS transportation equities analyst Tom Wadewitz outlines his bullish call in a note to clients.
Covenant Transportation Group provides an update on the ‘strategic plan,’ announced breakeven results in April during first quarter conference call.
Recent stabilization in truckload markets with a recovery expected later in the year were some of the takeaways from Wolfe Research’s investor conference.
USA Truck continues to execute on its internal turnaround initiatives, but they have yet to bleed through and provide positive earnings results for the carrier.
Landstar has seen volume declines accelerate in recent weeks and management believes that a recovery is unlikely until the automotive and building products segments resume activity.
Cass data plummets further, erasing any chance of second-quarter year-over-year growth in shipments and freight costs, according to report.
Morgan Stanley upgrades its freight transportation industry view from “cautious” to “in-line.” The firm lowered its earnings expectations for the group.