April 21, 2000 - Industry News
Hub Group, Inc., Lombard, IL, reported a loss in the first quarter largely attributable to one-time charges of approximately $700,000 and dramatically higher fuel costs.
Ryder System Inc. reported first quarter revenue from continuing operations of $1.31 billion, up 14% from first quarter 1999.
Higher fuel costs sent the first quarter earnings of Covenant Transport, down 37%, to $2.0 million from $3.2 million in the 1999 period.
CNF Inc., Palo Alto, CA, has reported first quarter operating income of $73.4 million, compared with $66.1 million in the same quarter a year ago. Revenue was $1.46 billion, up 17 percent
Higher fuel prices reduced the earnings per share of M.S. Carriers by 13 cents in the first quarter, the company says.
Specialized carrier Trism Inc. has ordered 315 new Freightliner Columbia 2001 model year tractors
Oshkosh Truck Corp. reported a net income of $13.9 million for its second fiscal quarter, an increase of 113% over $6.5 million for second quarter 1999. Second quarter sales were $331 million, up from $299 million a year ago
Rush Enterprises posted first quarter 2000 net income of $1.1 million on gross revenues of $210 million versus $3.3 million on revenues of $177.8 million in first quarter 1999. Results for this year included a $1.5 million loss provision to increase the company's reserve for used truck valuation and repossession losses
Dorsey Trailers posted a first quarter 2000 net profit of $94,000 on sales of $45.1 million. Net income for the same period last year was $512,000 on sales of $44.8 million.
John Pugh, CEO, said new trailer
April 20, 2000 - Industry News
Jackson, MS-based KLLM Chairman Jack Liles has made an offer to buy the company in a deal reportedly worth more than $33 million
Average highway speeds are on the upswing in Iowa, as the state legislature is expected to adjourn soon without approving an increase in the state's speed limits
Overnite Transportation emphasized a 6.4% increase in first quarter revenue compared to last year and a turnaround from the previous quarter's losses when it reported its first-quarter financial results yesterday, but the Teamsters union attacked the report as "creative bookkeeping."
Overnite reported first quarter operating income of only $500,000, compared to $10.3 million in the first quarter of 1999
Sixteen ballots have been challenged in the Teamsters representation election at less-than-truckload carrier SAIA Motor Freight in Grand Prairie, TX, where the union lost by only one vote
UPS reported record results for the first quarter, with a 63% jump in net income for the quarter ending March 31
Michelin is opening a tire plant in Independence, VA, which will initially support Volvo Trucks North American in Dublin
Williams Travel Center will build a facility on a 19-acre site in Fort Worth, TX, within the Alliance development along Interstate 35W
Landstar System, Jacksonville, FL, has introduced a new e-mail service exclusively for its agents and independent contractors
Higher interest rates and diesel fuel prices, coupled with a driver shortage and increased supply of used trucks, will likely impact demand for on-highway truck engines in North America. But Caterpillar says it expects its engine sales to remain near 1999 levels with increased market share in the medium and heavy duty truck segments plus higher demand for other engines
Preliminary first quarter reports put Detroit Diesel Corp. revenues at $536 million and net income at $10.1 million
Meritor Automotive reported net income of $57 million for its fiscal 2000 second quarter, an increase of 14% over second quarter 1999
Core Materials Corp. says it has reached a tentative deal with Mack Trucks to manufacture and assemble fiberglass reinforced molded products for current and future Mack Class 8 models
Rollins Truck Leasing Corp. posted record net earnings of $14.4 million for its second fiscal quarter ending March 31 -- up 29% from the same period last year and a company record
Operating revenue at Smithway Motor Xpress Corp., Fort Dodge, IA, increased 7.3% to $50.7
million in the first quarter from $47.3 million during the same quarter in 1999. Net earnings were $238,000, or $0.05 per diluted share,
April 19, 2000 - Industry News
Canadian Teamsters began a job action at Overnite Transportation Company's eight terminals in Canada yesterday
The Teamsters union has filed a civil suit against ousted President Ron Carey and nine other individuals and groups.
The union alleges racketeering, embezzlement, breach of fiduciary duties and legal malpractice in what it calls "a wide-ranging plot to loot the union treasury in order to bolster the 1996 re-election campaign of disgraced former Teamster General President Ron Carey."
If successful, the union stands to recover more than $9 million
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