The truckload business is good – to say the least. In fact, most 3rd quarter announcements from publicly owned companies lead with phrases like “sharply higher earnings” and “record revenues”.
On the truckload side, J. B. Hunt announced that net income for the quarter rose by more than 30% over the same quarter of 2003. For the same period, Landstar’s net rose by more than 80%, U.S. Xpress’s by 104%, Marten Transport’s by more than 39%, USA Truck’s by more than 35%.
More modest gains were reported by other carriers and not all the quarterlies are in yet; Celadon and Transport of America will report next week.
Of course, net income by itself is just part of a balance sheet, one indicator of performance among many. But the net figures noted here were accompanied by major increases in gross revenue and were achieved despite soaring fuel costs and a severe driver shortage.
Other results are good as well.
LTL carrier ABF declared a dividend this week, LTL Old Dominion reported record revenues and profits and the big guy, UPS, on Thursday reported quarterly net up 20% from the same period last year.
Of course, much of the UPS increase is due to international business and there are more reports to come.
Even so, it seems pretty safe to say that the trucking business these days is good indeed.
On the truckload side, J. B. Hunt announced that net income for the quarter rose by more than 30% over the same quarter of 2003. For the same period, Landstar’s net rose by more than 80%, U.S. Xpress’s by 104%, Marten Transport’s by more than 39%, USA Truck’s by more than 35%.
More modest gains were reported by other carriers and not all the quarterlies are in yet; Celadon and Transport of America will report next week.
Of course, net income by itself is just part of a balance sheet, one indicator of performance among many. But the net figures noted here were accompanied by major increases in gross revenue and were achieved despite soaring fuel costs and a severe driver shortage.
Other results are good as well.
LTL carrier ABF declared a dividend this week, LTL Old Dominion reported record revenues and profits and the big guy, UPS, on Thursday reported quarterly net up 20% from the same period last year.
Of course, much of the UPS increase is due to international business and there are more reports to come.
Even so, it seems pretty safe to say that the trucking business these days is good indeed.
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