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UPDATED -- Truckload carrier Swift Transportation Co. saw its net income decline in the first quarter of the year while profit for the time definite surface transportation and logistics provider Forward Air Corp. more than doubled as refrigerated hauler Marten Transport Ltd. reported a boost in two ways.
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UPDATED – Three large publicly held trucking fleets reported first quarter earnings on Wednesday with all showing a decline in profits from a year earlier.
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J.B. Hunt Transport Services says its first-quarter profit increased 8.9% from a year earlier as revenue rose by 6%, thanks to volume growth, improved network operations, higher equipment utilization, lower maintenance costs and increased contract pricing.
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Trucking and parcel delivery company FedEx Corp. on Wednesday reported lower quarterly profits, but adjusted earnings were better than expectations.
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Despite greatly increased revenue in the final quarter of last year and for all of 2015, the fleet that purchased Con-way last year reported bigger losses.
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The third party logistics and multi-modal transportation services company Radiant Logistics Inc. moved from a fourth quarter profit a year ago to loss in the most recent quarter, but adjusted earnings improved.
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A record-setting fourth quarter for trucking company Forward Air Corp. has it looking forward to a banner 2016, while Rush Enterprises is cost-cutting to compensate for the low truck sales in the energy sector in 2015.
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Saia Inc. saw its fourth quarter profit decline to $11.4 million, or 45 cents per diluted share, from $13.6 million, or 53 cents per diluted share a year earlier, beating analysts' estimates.
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Multi-modal freight transporter Hub Group Inc. has reported increases in fourth quarter 2015 and full year profits as revenue for both periods drifted lower for the Illinois-based operation.
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Earnings season continues this week and with it are the first numbers from major trucking suppliers, such as Meritor, Eaton and Wabash National, in addition to those from trucking operations ArcBest and C.H. Robinson.
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