After making four investments totaling $12 million in electric truck systems supplier TransPower, Meritor is acquiring the rest of the company.
Add Werner Enterprises to the parade of companies testing battery-powered heavy-duty trucks in California.
Database of test results seen as rate booster while unseated trucks pose risk to operations.
Landstar’s strong cash flow generation and enviable balance sheet allow it to pay large special dividends even in down market years.
Truckload stocks get an upgrade at Goldman Sachs. Analyst cites “bottoming” fundamentals and the likelihood that the trucking downturn is nearing the midway point as reasons for the upgrade.
The latest Cass outlook signals “economic contraction,” but the heads at some of the nation’s largest truckload carriers see a different path.
Werner, UPS Freight among initial companies participating in pilot.
Earnings estimates continue to be cut by equity analysts, however their outlook for the stocks is positive.
Third quarter 2019 is likely to see another step down in earnings expectations for the year. Equity analysts have been busy lowering estimates on many publicly traded transportation companies.
Werner has seen freight fundamentals improve recently and is expecting the truck market to tighten as new regulation is implemented.
The bulls are coming out in support of truckload carriers, kind of. Several equity analysts are using a recent positive inflection in TL volumes, a belief that fundamentals aren’t getting materially worse, and attractive valuation multiples to become more positive on the stocks.
Heartland Express once again uses its strong financial position to acquire. The carrier has a pattern of building cash balances and finding accretive tuck-in deals.
Marten Transport to pay a $0.65 per share special dividend and increase its share repurchase program.
Schneider is closing its First to Final Mile delivery operation due to poor performance.
New categories to be added to types of crashes deemed “not preventable.”
Werner’s second quarter was $0.01 light of consensus and the company lowered its pricing forecast for the rest of 2019.
2019 is shaping up to be the worst year for trucking in the past five years.
Eroding fundamentals in the truckload carrier market have led analysts to lower their earnings estimates for the carriers they cover.
Werner Enterprises continues to invest in U.S.-Mexican trade, regardless of the ups and downs of President Donald Trump’s trade negotiations. In May, Werner opened a new 17,000-square foot refrigerated cross-dock operations facility in Laredo, Texas. The $8 million facility features 13 dry docks and eight refrigerated docks, according to a company statement. “We are proud […]
Truckload carrier stocks have held up through the last six trading sessions, walking through a couple of potential body blows.
Landstar announced that it may not be able to meet the low-end of its guidance range as truckload spot market fundamentals remain weak.
FreightWaves spoke with Werner’s President and Chief Executive Officer Derek Leathers and Chief Financial Officer John Steele regarding the recent announcement in changes to the capital structure.
Werner announced a special cash dividend of $3.75. WERN’s last special dividend was $1.50 per share in 2012.
Werner Enterprises, Inc. reported non-GAAP adjusted earnings per share (EPS) of $0.52, $0.03 ahead of the consensus estimate.
Werner Enterprises, Inc. (NASDAQ: WERN), reported non-GAAP adjusted earnings per share (EPS) of $0.52, besting the consensus estimate of $0.49 per share.
FedEx Freight, J.B. Hunt, Schneider National among companies with the most non-preventable accidents identified so far by FMCSA.
Group hopes to set standards for `shippers of choice’.
Covenant Transport is the first enterprise carrier to lower guidance for Q1 on a numbers of headwinds, none of which are macroeconomic—yet.
Werner Enterprises (NASDAQ: WERN) reported strong earnings in the fourth quarter of 2018, posting a diluted earnings per share (EPS) of $0.77. This topped analyst expectations, with the average estimate of 10 analysts surveyed by Zacks Investment Research coming in at $0.68.
Everyone knew the quarter was weaker than it had been. The question is how much. Stock prices have reflected a significant slowdown.
Also today: going to jail for bogus CDLs; ecommerce driving the Canada Post labor dispute.
Fresh off strong third quarter earnings, Werner Enterprises (NASDAQ: WERN) President and CEO Derek Leathers was optimistic about the company’s future moving into peak season and beyond.
There’s been a flight to quality that has led some shippers and carriers out of the spot market, Fuller said.
One quarter ago, their earnings were feared to have marked a peak. But there’s no signs of that reading the third quarter numbers.
Werner Enterprises (NASDAQ: WERN) presented a market update at Morgan Stanley’s 6th annual Laguna conference on September 12, where John J. Steele made his predictions for the upcoming peak season and addressed issues and solutions related to the capacity crunch, e-commerce, and the potential impacts of Hurricane Florence on the market.
Transportation stocks show gains ahead of Florence’s landfall
We visualized the performance metrics of the publicly-traded truckload carriers over the past six quarters, using TCA InGauge’s data.
After remaining flat in 2015-16, the average fleet fuel economy for the nation’s top fleets improved in 2017, according to research conducted by the North American Council for Freight Efficiency (NACFE).
The truckload carrier is relatively small, but it had a tremendous second quarter.
A deaf trucker got his CDL, got a pass from FMCSA, had a job, but Werner said the law wouldn’t allow it to hire him. Now the case is in court.
UPS is currently in talks with at least one trucking company to start an in-home delivery service for large goods such as appliances and furniture. This move could provide a competitive advantage for UPS, and allow the company to take advantage of the rapid growth in e-commerce sales of larger items.
Almost all of the conditions reported by the company were positive.
Psychemedics Corporation says they have developed a test which eliminates false positives and has been vetted by the FBI.
The market’s coming up roses for trucking companies, but some company stocks are still viewed as a little high.
Werner Enterprises (NASDAQ: WERN), a transportation and logistics provider, is pleased to announce its collaboration with the Blockchain in Transport Alliance (BiTA), an alliance formed to ensure standardization of blockchain technology in logistics and throughout the supply chain.
Covenant Chairman and CEO David Parker said 2018 will bring wage hikes, rate increases, and unprecedented opportunities for team carriers due to the ELD mandate.
A jury has awarded $15.57 million to Isaac Espinoza, who was struck by a tractor-trailer driven independent contractor Ricky Hatfield while assisting a friend on the side of I-81 north. The jury also held the broker who contracted with Hatfield partially responsible.
As larger items such as appliances and furniture are increasingly being purchased online, the need for more “white glove” delivery services is leading carriers to look at acquiring or partnering with companies that specialize in this area.
After a start to earnings season that saw both J.B. Hunt and C.H. Robinson miss expectations, transport stocks received a boost as both Werner Enterprises and Swift Transportation reported better-than-expected reports.
