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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.
For many trucking companies business has slowed, and recent numbers bear this out, both in first-quarter earnings reports as well as in broader statistics.
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Loose capacity and a sluggish economy in the first quarter helped drive down earnings for Roadrunner, XPO and USA Truck.
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The number of spot market loads jumped 9% during the final week of April compared to the previous week, according to DAT Solutions and its network of load boards, but rates showed hardly any improvements.
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Lower North American truck sales led to lower financials compared to a year ago for two Indiana-based companies.
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Two new readings of the U.S. manufacturing sector for April show the second quarter began with a slowdown in production and new business growth, while a separate report indicates construction activity is booming.
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The parent to less-than-truckload carrier ABF Freight moved into the red in the first quarter of the year, according to its earnings report released Friday, as many other companies are also reporting weaker performances compared to a year ago
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Trucking was only one of two transportation modes that carried more U.S. freight by value with NAFTA trade partners Canada and Mexico in February than a year ago, increasing 4.7%.
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The wave of first quarter earnings reports from the nation’s publicly owned fleets continued on Wednesday, with three out of four lower than a year earlier due mainly to less freight to move.
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The number of available spot market loads slipped 2% while posted capacity was flat during the week ending April 23, according to DAT Solutions and it of load boards, leaving rates nearly unchanged.
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Setting new records in a variety of different categories allowed trailer manufacturer Wabash National Corp. to report more than doubled first quarter profit over a year ago.
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