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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.
Shipments and new orders for long-lasting manufactured durable goods were varied in September. While home sales continue growing, one key economic indicator fell.
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As more trucking companies report third quarter earnings, most are showing profits are down from the same time a year ago – but there are a few exceptions.
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At a time when many trucking companies are reporting lower third quarter earnings, Swift Transportation bucked the trend, but truck and engine maker Paccar saw its earnings fall.
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Earnings for two of the world’s biggest truck makers varied greatly in the third quarter, according to figures released on Friday, and both had a dim view of upcoming sales in the North American market.
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UPDATED -- The third quarter earnings season continued on Thursday with the release of reports showing more trucking companies had lower earnings compared to a year ago, with another held on.
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Profit for the Tennessee-based parent to Covenant Transport plummeted in the third quarter, while Landstar System recorded only a 7.6% decline, according to numbers released late Wednesday afternoon.
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After offering a glimmer of “less bad” hope in August, one measure of freight shipments data in September disappointed.
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While the strength of nation’s homebuilding market has eased just a bit, it remains robust. Meanwhile, a measure of consumer prices show it’s approaching a level the Federal Reserve has said it needs to hit in order to raise interest rates.
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The total output from the nation’s factories, mines and utilities rebounded last month, posting its best quarterly performance in a year, due in part to increased manufacturing, according to new Federal Reserve figures.
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Third quarter earnings for the nation’s trucking companies began rolling in on Monday, following reports of lowered expectations as several negative factors weigh on the nation’s freight markets.
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