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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.
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.
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Universal Logistics Holdings is projecting lower second-quarter earnings, just the latest trucking operation indicating it will fall short of analysts' expectations in a challenging business environment.
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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.
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Rates on the spot truckload freight market either moved higher or remained the same for the week ending June 2. The number of loads jumped 10% while shippers rushed to move freight before the end of the quarter and the start of the July 4 weekend, according to DAT Solutions and its network of load boards.
Read More →Two reports show the nation’s manufacturing sector is making continued improvements following a bumpy ride that began last year and early this year.
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Despite increased load-to-truck ratios, national average spot truckload rates were unchanged as overall market activity slowed during the week ending June 25, according to DAT Solutions and its network of load boards.
Read More →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.
Read More →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.
Read More →Orders and shipments of long-lasting durable goods fell in May, according to a preliminary Commerce Department report. One measure of business investment fell by the most in three months, but other reports show homes and consumers remain a cornerstone of the economy.
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Trucks carried more U.S. freight by value between North American Free Trade Agreement partners Canada and Mexico in April 2016 compared to the same time a year ago, but declines in all other freight modes led to a 3.2% drop in the total current dollar value of cross-border freight.
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