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Earnings for trucking and package delivery company FedEx Corp. moved up modestly to $715 million, or $2.65 per share, in its fiscal quarter ending Aug 31 that included the cost of integrating another carrier.
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Forward Air Corp. has become the latest trucking operation to lower expectations ahead of releasing its next earnings report.
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The trucking operation Celadon Group Inc. on Thursday reported its fiscal fourth quarter and year-end results for 2016 with both showing sharply lower earnings.
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Two trucking operations reported their second-quarter financials on Wednesday, with one reporting its first profit since purchasing LTL carrier Con-way last year, while the other reported a loss that was attributed to falling rates and freight volume.
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The week wrapped up with more fleets reporting their second-quarter earnings. Like many that have already advised, profits for three were lower, while the largest trucking company in the nation and another a few years ago that was on the brink of extinction showed improvements.
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Phrases such a “challenging freight market” and a freight environment that’s “less attractive” continued to be some of the buzz words Wednesday as another raft of second quarter corporate earnings washed ashore, while one company defied the trend with its net income soaring more than 300%.
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The second quarter earnings season continued on Tuesday with companies ranging from a fleet and 3PL to a trailer maker and mega-dealer, with all but one reporting higher earnings than the same time last year.
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Profits for two trucking companies turned lower in the second quarter of the year while a third moved into the red, according to newly released earnings reports.
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Asset-light trucking and related services provider Landstar System reported a 20% second quarter decline in earnings due to lower revenue and a big insurance claim.
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Temperature-controlled carrier Marten Transport reported an increase in its second quarter earnings. Although it's another small gain, it did beat analysts' expectations.
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