USA Truck’s third-quarter performance was something management had been foreshadowing for the last few quarters. They were adamant that earnings would improve if the market would cooperate.
Universal Logistics reported revenue of $365 million during the third-quarter, a 2.8% decrease compared to the same period last year.
USA Truck was able to use a favorable demand backdrop and very tight truck capacity to break a string of four consecutive quarterly losses.
Werner Enterprises sees the current tightness in the truck market continuing into 2021 as inventory restocking will take multiple quarters to accomplish and drivers are in short supply.
Werner Enterprises’ third-quarter result comes in ahead of analysts’ forecasts.
Knight-Swift Transportation raises its 2020 outlook and provides 2021 guidance that is well ahead of recently raised expectations.
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.
The Cass Freight Index booked 7% sequential gains in shipments and expenditures during September.
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.
The fleet management solution is Transfix’s first foray into a pure software product.
U.S. Xpress’ industry forecast calls for the truckload market to experience high driver turnover, declining capacity and “overwhelming” volumes through 2021.
With many data points sitting at cycle highs, several industry participants are calling for the trucking market’s bull rally to last well into 2021.
Shared truckload offers shippers the opportunity to utilize truckload services to deliver partial shipments – without leaving part of the trailer empty.
Tightening truckload and intermodal markets have carriers expecting the hot freight market to carry forward. One carrier is calling for large rate increases in 2021.
Deutsche Bank’s Amit Mehrotra becomes increasingly bullish on the future of trucking. The analyst is forecasting earnings growth at the publicly traded carriers much higher than that of his peers.
Strong spot market fundamentals and low inventories prompt UBS analyst Tom Wadewitz to raise truckload carriers’ earnings estimates for the second half of 2020.
FreightWaves’ JT Engstrom and Tenney Group’s Spencer Tenney sit down at the FreightWaves Carrier Summit to discuss reasons trucking deals are outpacing broader deal flow.
Declines in Cass freight data continue to outpace the industry by a considerable margin. The firm sees improved results on the horizon.
Walmart’s fiscal second quarter comes in well ahead of analyst expectations as e-commerce sales surge. The COVID-related inventory drawdown is a positive for trucking.
