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Former Business Contributing Editor
Evan Lockridge worked for Heavy Duty Trucking for 20 years until 2018. A consummate "news guy" since the 1980s, he began covering trucking in 1990 on nationwide radio, print and digitally.
He is the recipient of four Jesse H. Neal honors.
Most trucking companies so far this earnings reporting season are reporting big gains in profits in both the fourth quarter of last year as well as for all of 2017. This is due in large part to tax reform legislation, and numbers released Wednesday were no exception.
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National average spot truckload rates continued their decline into February but remain unseasonably high, according to new figures based on the DAT Solutions network of load boards.
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While Schneider National Inc. and Saia Corp. reported better numbers, USA Truck Inc. returned to only partial profitability and YRC Worldwide Inc. reported losses in both time frames.
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A sizeable gain in trucking employment helped the total number of job additions move higher in January, according to a new Labor Department report.
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A measure of the U.S. manufacturing sector released Thursday is just one in a raft of new economic reports that showed 2018 began with a similar pace to that seen when 2017 wrapped up.
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Two of the biggest names in trucking, one in the shipping business and the other in the manufacturing sector, reported their fourth quarter 2017 and full-year earnings on Thursday morning and both showed big gains.
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Volvo Group, the Swedish parent company to truck makers Volvo, Mack, and others, reported higher profits for the final quarter of last year and for all of 2017, as the year also saw record-high sales.
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Truckload carrier Knight-Swift Transportation Tuesday reported the biggest gain in earnings seen so far this earnings season, while third-party logistics provider C.H Robinson Worldwide reported a more modest increase in profits.
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Spot truckload freight rates continued trickling lower for the third straight week for the week ending Jan. 27, according to new figures release from freight matching service provider DAT Solutions. Despite this drop, rates remained higher than at any point in 2017, based on information from this network of load boards.
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Truck and engine maker Paccar Inc. on Tuesday reported big gains in both profits and revenue for the final quarter of 2017 as well as for all of last year.
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