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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 value of trans-border freight movements between the U.S. and its neighbors took a steep decline, according to new U.S. Transportation Department numbers, while Canada regained its historical rank as top North America trade partner after falling behind Mexico.
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UPDATED -- Truck and engine manufacturer Paccar on Friday reported record annual revenue of $19.12 billion and record net income of $1.60 billion for 2015, but fell short of analysts’ expectations in the final quarter of the year.
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The asset-light trucking and logistics provider Landstar Thursday reported a decline in its fourth quarter profit, but it was higher than expected, and the company also improved its annual performance.
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New orders for long-lasting durable goods plunged in December while shipments also fell, according to an advance report on Thursday from the U.S. Commerce Department, following a decision by the Federal Reserve to not raise a key interest rate.
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UPDATED -- Net income for two trucking and logistics companies experienced pullbacks in the fourth quarter of the year, according to earnings reports released Wednesday.
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First, the good news. Last week’s winter storms had minimal effect on spot market truckload freight rates and load-to-truck ratios. Now, the bad news. Both managed to slip all on their own, with rates in the three major sectors being the lowest in at least the last four weeks.
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Earnings for the trucking company Heartland Express Inc. (NASDAQ: HTLD) declined in both the final quarter of 2015 and all of last year due to less business while Patriot Transportation Holding Inc. (NASDAQ: PATI) saw an improvement due in large part to a legal settlement.
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The trucking company Marten Transport Ltd. (NASDAQ: MRTN) on Tuesday announced slightly lower earnings for the fourth quarter of the year while seeing a 19.8% increase in its annual profit compared to a year earlier.
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The latest reading on the health of the nation’s non-manufacturing/service sector of the economy shows it starting the year with slower growth. A separate report shows consumers aren’t paying much heed to recent volatility in financial markets as Federal Reserve officials begin a two-day meeting.
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One of the nation’s largest trucking companies reported improved earnings for the final quarter of last year and beating its expectations for all of 2015 while another publicly held fleet's latest three-month numbers failed to live up to its annual performance.
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