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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.
A major OEM announced it is cutting its workforce even though it’s still well in the black as it released third quarter earnings this week while a truck and engine maker reported continued higher numbers.
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Sales of newly built, single-family homes fell to their lowest level since last November, while a separate report shows the first improvement in the nation’s manufacturing sector in five months.
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One truck maker has reported its third quarter profit doubled and is considering the sale of its used truck business while one of the nation’s largest trucking fleets has reported new records for the period in several areas.
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Existing home sales rebounded strongly in September following an August decline, according to the National Association of Realtors. That's not the only good news when it comes to an improving home market, and a separate report shows the overall economy isn't as bad as you may think.
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Daimler AG, Dana and Rush Enterprises all saw weaker third-quarter financials compared to a year ago, thanks in part to the recession in Brazil and the downturn in the North American oil and gas industry.
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Two large trucking fleets reported big increases in profits for the third quarter of the year. A fleet management and related services conglomerate also saw a hike, but things slipped for a niche trucking provider.
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There seems to be no let-up when it comes to weekly declines for rates on spot truckload freight market, as the amount of available cargo has also moved lower.
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Marten Transport reported a 9.9% increase in third quarter net income from a year earlier, due in part to increased dedicated business.
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Covenant Transportation Group reported a big gain in third quarter profit. Revenue slipped 2.3% but freight revenue moved higher.
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A report released Friday shows industrial production in the U.S. fell for the second consecutive month, the latest confirmation the economy lost some ground in the third quarter of the year.
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