July 29, 2016 - Industry News
Hopes that the American economy picked up a good head of steam in the second quarter of the year were quickly dashed on Friday following numbers being issued by the U.S. Commerce Department.
Tags: Economy, GDP, Consumer Sentiment, Gross Domestic Product
The week wrapped up with more fleets reporting their second-quarter earnings. Like many that have already advised, profits for three were lower, while the largest trucking company in the nation and another a few years ago that was on the brink of extinction showed improvements.
Tags: Economy, UPS, ABF, YRC Worldwide, YRC Freight, Saia, UPS Freight, Universal Truckload, ArcBest Corp., Fleet Earnings, Universal Logistics Holdings
July 27, 2016 - Industry News
Phrases such a “challenging freight market” and a freight environment that’s “less attractive” continued to be some of the buzz words Wednesday as another raft of second quarter corporate earnings washed ashore, while one company defied the trend with its net income soaring more than 300%.
Tags: Economy, Covenant Transport, Roadrunner Transportation, Knight Transportation, Echo Global Logistics, Covenant Transportation Group, Fleet Earnings
While new orders for manufactured durable goods plunged in June, a closely watched economic indicator shows a gain for the first time in three months, as a separate report shows a big hike in new home sales and another is calling for even better retail sales.
Tags: Economy, Retail Sales, Durable Goods, Manufacturing, Home Sales
July 26, 2016 - Industry News
The second quarter earnings season continued on Tuesday with companies ranging from a fleet and 3PL to a trailer maker and mega-dealer, with all but one reporting higher earnings than the same time last year.
Tags: Economy, Truck Sales, 3PL, Rush Enterprises, Earnings, Wabash National, C.H. Robinson, Hub Group, Fleet Earnings
July 22, 2016 - Industry News
A new preliminary report shows U.S. manufacturing rising this month at its fastest pace since November 2015, following a post-Great-Recession low in May – "an encouraging sign of revival," says financial information services provider Markit.
Tags: Economy, Manufacturing, Home Sales, Leading Economic Indicators, Home Building
Profits for two trucking companies turned lower in the second quarter of the year while a third moved into the red, according to newly released earnings reports.
Tags: Economy, Werner Enterprises, Forward Air, Swift Transportation, Freight Rates, Fleet Earnings
July 21, 2016 - Industry News
Car and truck maker Daimler AG reported a slight increase in its second quarter profit, but it expects significantly lower truck sales for this year. Meanwhile, one supplier is feeling the effects of the slowing North American commercial vehicle market.
Tags: Economy, Detroit Diesel, Freightliner, Western Star, Daimler Trucks, Daimler AG, Dana Holding Corp., Earnings, Daimler Trucks North America
July 20, 2016 - Industry News
Moderating new truck production and trade-ins have avoided layoffs and a greater glut of used trucks on dealers' lots, Dennis Slagle says.
Tags: Economy, Truck Sales, Mack Trucks, Mack Granite
Truckload linehaul rates in June were nearly the same as the month before, but they are still below levels from a year ago, while there seems to be no end to the recent drop in rates for intermodal shipments.
Tags: Economy, Cass Intermodal Linehaul Index, Cass Truckload Linehaul Index, Freight Rates, Freight Capacity
Asset-light trucking and related services provider Landstar System reported a 20% second quarter decline in earnings due to lower revenue and a big insurance claim.
Tags: Economy, Landstar, Landstar System, Fleet Earnings
July 19, 2016 - Industry News
Temperature-controlled carrier Marten Transport reported an increase in its second quarter earnings. Although it's another small gain, it did beat analysts' expectations.
Tags: Economy, Marten Transport, Fleet Earnings
Freight shipments and expenditures edged up in June after three months of lackluster performance, hitting their highest levels of the year, according to the Cass Freight Index – but it remains unclear if this is part of a larger trend.
Tags: Economy, Freight Rates, Freight Volume, Freight Capacity, Cass Freight Index
American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index dropped by 1.5% in June, following a nearly 3% gain in May.
Tags: ATA, Freight, Truck Tonnage, Truck Tonnage Index, Economy
The Swedish parent to truck brands Volvo, Mack and others reported its second quarter profit slid from a year ago due to lower sales in many parts of the world and has downwardly revised its expectations in North America.
Tags: Volvo, Economy, Volvo Trucks, Earnings, European Union, Volvo Trucks North America, Global
July 18, 2016 - Industry News
Trucking and intermodal giant J.B. Hunt Transport Services reported its second quarter profit increased just slightly, falling short of Wall Street expectations.
Tags: Economy, 3PL, Intermodal, J.B. Hunt, Earnings, Fleet Earnings, Dedicated Fleets
July 15, 2016 - Industry News
A jump in retail sales and industrial output are just two of several economic indicators released Friday showing the economy is performing at least somewhat better, but there are still some lingering concerns.
Tags: Economy, Retail Sales, Industrial Production, Manufacturing, Consumer Prices, Wholesale Prices, Consumer Sentiment, Business Inventories
July 13, 2016 - Industry News
A U.S. Transportation Department measure of the amount of freight carried by the nation's for-hire transportation industry rose 0.2% in May from April, the second consecutive monthly gain, and is just 1.5% below the all-time high level hit in December 2014.
Tags: Economy, Freight, Freight Index
July 12, 2016 - Industry News
A new government forecast is calling for double-digit gains in diesel prices next year, although gasoline is expected increase by only half as much.
Tags: Economy, Diesel Prices, Gasoline Prices, Crude Oil Prices
Import cargo volume at the nation’s major retail container ports should see a small-but-significant increase this month as merchants stock up for the back-to-school season, then see a larger wave in late summer and fall for the holiday shopping season.
Tags: Economy, Retail Sales, Imports, Ports, Port Trucking
July 11, 2016 - Industry News
The second quarter earnings season got underway on Monday with Daimler AG unexpectedly releasing numbers showing its adjusted earnings in the second quarter of the year are “significantly above market expectations” – but the news did not carry over into its truck operations.
Tags: Economy, Detroit Diesel, Freightliner, Western Star, Daimler Trucks, Daimler AG, Earnings
July 8, 2016 - Industry News
While U.S. non-farm payrolls swelled by 287,000 jobs in June, the most since October, the number of trucking jobs fell for the fifth straight month, according to a new U.S. Labor Department report.
Tags: Economy, Unemployment, Employment
July 1, 2016 - Industry News
Two reports show the nation’s manufacturing sector is making continued improvements following a bumpy ride that began last year and early this year.
Tags: Economy, Manufacturing, Construction Spending
June 29, 2016 - Industry News
One of the biggest drivers of the U.S. economy increased for the second straight month in May, adding to optimism that growth in the second quarter will be better than the slow first quarter pace.
Tags: Economy, Consumer Spending, Personal Income
June 28, 2016 - Industry News
U.S. economic growth improved more than previous estimates, but not by much, according to Commerce Department figures released Tuesday. Stronger net exports and business investment offset an unexpected downward revision to consumer spending.
Tags: Economy, GDP
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