CORRECTED, UPDATED -- This week saw quarterly financial reports from a number of large publicly traded truck fleets, with truckload and intermodal giant Swift Transportation reporting profits up 72% from a year ago.
The quarter also saw improved profits at Marten and Werner, while USA Truck and Heartland Express saw earnings fall.
Swift beat market expectations, with profits up 72% from a year ago. Net income rose to $33.7 million, or 24 cents a share, from $19.6 million, or 14 cents a share, a year ago. The company said it expects adjusted earnings growth of 20% this year, including intermodal container growth of 2,000 units from July to November. Weekly tractor revenue rose almost 4% compared with the second quarter of 2011, with net fuel expenses falling 26%.
Marten Transport reported a 22.4% increase in net income to $7.6 million, or 34 cents per diluted share, for the second quarter, from $6.2 million, or 28 cents per diluted share, for 2Q 2011. Operating revenue, consisting of revenue from truckload and logistics operations, increased to $157 million for 2Q 2012 from $151.1 million in the same period in 2011 for the temperature-controlled fleet.
Werner Enterprises, Omaha, Neb., reported only a 1% increase in total revenue of $521.8 million compared to a year ago, but saw an 11% increase year over year in net income, up to $30.7 million, thanks to a seasonally improving freight market, operating margin expansion and logistics growth.
USA Truck Inc., Van Buren, Ark., was not so successful. Revenue of $103.5 million for the quarter fell 4.6% from 2011, and the company had a net loss of $3.5 million for the quarter, compared to net income of $0.6 million for the same quarter of 2011.
Heartland Express saw improved revenue but higher operating costs. Operating revenues for the quarter rose 1.8% to $139.7 million over a year ago, but net income for fell 19% to $18.2 million compared to $22.5 million in the 2011 quarter period. Earnings per diluted share fell 16% to 21 cents from 25 cents reported in the second quarter of 2011. Heartland has also been updating its fleet, noting that it increased its fleet in the second quarter from a year earlier despite driver market challenges.
Corrected 10:15 EDT to correct Werner numbers. We apologize for the error.
Updated 10:25 EDT to add Swift results.
The quarter also saw improved profits at Marten and Werner, while USA Truck and Heartland Express saw earnings fall.
Swift beat market expectations, with profits up 72% from a year ago. Net income rose to $33.7 million, or 24 cents a share, from $19.6 million, or 14 cents a share, a year ago. The company said it expects adjusted earnings growth of 20% this year, including intermodal container growth of 2,000 units from July to November. Weekly tractor revenue rose almost 4% compared with the second quarter of 2011, with net fuel expenses falling 26%.
Marten Transport reported a 22.4% increase in net income to $7.6 million, or 34 cents per diluted share, for the second quarter, from $6.2 million, or 28 cents per diluted share, for 2Q 2011. Operating revenue, consisting of revenue from truckload and logistics operations, increased to $157 million for 2Q 2012 from $151.1 million in the same period in 2011 for the temperature-controlled fleet.
Werner Enterprises, Omaha, Neb., reported only a 1% increase in total revenue of $521.8 million compared to a year ago, but saw an 11% increase year over year in net income, up to $30.7 million, thanks to a seasonally improving freight market, operating margin expansion and logistics growth.
USA Truck Inc., Van Buren, Ark., was not so successful. Revenue of $103.5 million for the quarter fell 4.6% from 2011, and the company had a net loss of $3.5 million for the quarter, compared to net income of $0.6 million for the same quarter of 2011.
Heartland Express saw improved revenue but higher operating costs. Operating revenues for the quarter rose 1.8% to $139.7 million over a year ago, but net income for fell 19% to $18.2 million compared to $22.5 million in the 2011 quarter period. Earnings per diluted share fell 16% to 21 cents from 25 cents reported in the second quarter of 2011. Heartland has also been updating its fleet, noting that it increased its fleet in the second quarter from a year earlier despite driver market challenges.
Corrected 10:15 EDT to correct Werner numbers. We apologize for the error.
Updated 10:25 EDT to add Swift results.
0 Comments
See all comments