truckload carriers

AskWaves takes a look at gains on the sale of revenue equipment and how they play into the financial results of truckload carriers.

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.

The need for truck capacity remains at historic highs, and more fleets have responded by increasing driver pay for the second time this year.

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.

USA Truck reported second-quarter net income of $4.2 million, after reporting a loss of $900,000 in the same period a year ago.

The Omaha, Nebraska-based transportation and logistics provider reported second-quarter adjusted earnings of 86 cents per share.

“Our logistics segment has been thriving and growing, including contract logistics and port services, with the largest contributor being brokerage,” says Schneider CEO.

“Truckload detention is the last dark corner of the trucking industry, so we built a big flashlight.” That flashlight will shine bright on Thursday when TCA hosts a virtual workshop addressing the issue.

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.

Midwest Carriers announced the acquisition of alcohol transporter Osborn & Son Trucking for an undisclosed amount.

Hirschbach Motor Lines announced that it has acquired Lessors Inc. The deal marks the second combination of two temperature-controlled carriers in the last week.

U.S. Xpress sees brokerage platform Xpress Technologies as a big part of the company’s digital overhaul.

Truckload carrier Western Express will install Platform Science’s full suite of technologies, including the Remote Platform Management system, across its fleet of 3,000 trucks.

Carriers are hoping to attract drivers with more pay and improved benefits.

There was a fair amount of “feel-good” talk regarding inventory build during the fiscal first-quarter retail earnings season. But for several chains, the year-over-year comparisons were easy. Further, sales have continued at an elevated clip, suggesting the massive merchandise restocking is far from over.

The servitization of the trucking industry means there is a need for carriers to have better transparency of their available equipment in order to add new revenue streams.

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.

The Teamsters union is seeking executive compensation reform at XPO.

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.