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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.
UPDATED -- Sales of new homes in the U.S. hit a six-month high last month while the improvement for August was cut dramatically, according to a new U.S. Commerce Department report.
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With year-over-year profitability improvements in its truckload, intermodal and refrigerated segments, Swift Transportation saw its net income surge to $50.2 million in the third quarter, compared to $30 million a year ago.
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Net income during the period was $16.7 million compared to $14.2 million in the prior-year quarter or 54 cents per diluted share compared with 46 cents per diluted share.
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Higher package volume and growth in distribution and UPS Freight business led UPS Inc. to an upswing in third-quarter earnings compared to a year ago.
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A measure of where the American economy is headed in the next three to six months shows conditions are improving, but not as fast as they have been, according to the private research group The Conference Board.
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Daimler AG, the German parent of Daimler Trucks North America, has reported higher third quarter profit and revenue, with record Mercedes-Benz auto sales and a booming North American truck market being partially offset by lower sales in other parts of the world.
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With strong demand and tight capacity continuing, Knight Transportation's third-quarter profits are up more than 66% over a year ago, thanks to higher revenue per tractor and per loaded mile and fewer empty miles.
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Vans reported the biggest decline from Oct. 12 through Oct. 18 compared to the previous seven days, falling 1% to an average of $2.01 per mile, though the rate has been above the $2 per mile level for most of the year.
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The decline was not surprising with the company announcing last month it was hit with a multi-million dollar judgment.
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Consumer prices in the U.S. remained in check during September, increasing just 0.1%, according to the U.S. Labor Department.
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