The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Todd Fowler, lead transportation analyst at KeyBanc, talks third-quarter earnings. Plus, Hyliion is not recording any revenue from its propulsion system and Wall Street is OK with that, and carriers continue to dominate as retail peak hits.
Inside the numbers
Third-quarter earnings are in, and the trucking sector performed quite well. Todd Fowler, lead transportation analyst at KeyBanc, shares some thoughts on the results during the Drilling Deep podcast.
Listen to Fowler’s interview with John Kingston: Drilling Deep: Analyzing the trucking earnings numbers from the third quarter
No money, no problem
Hyliion participated in its first earnings call as a public company and immediately announced it would not book revenue on early deliveries of trucks with its propulsion system.
Alan Adler explains why Wall Street is not concerned: Hyliion decides against booking revenue from early trucks
Kings of freight
While tender rejections briefly hit an all-time high before receding to just under 27% this week, the peak retail season is helping carriers remain in a position to have a record-setting quarter.
Andrew Cox details why: Carriers reigning supreme this peak season
Ditch the tax
The Federal Excise Tax on trucks and trailers is adding thousands of dollars to the cost of the equipment, but it’s now time for Congress to update the decades-old tax.
Trey Lowe explains in his commentary: How the federal excise tax is shaping American transportation in 2020
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Did you miss this?
The California proposition that was approved at the polls last week and took ride-share drivers out from under the state’s AB5 law should be a factor in whether the trucking industry remains exempt from it as well, according to a lawyer involved in key litigation.
John Kingston explains: Trucking attorney: Proposition passage in California bolsters AB5 exemption case
Hammer down, everyone,