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Trucking and logistics provider ArcBest reported third quarter numbers showing net income improved a little more than 14.5% to $14.8 million, or 56 cents per share, 2 cents below Wall Street expectations.
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How fleets think about equipment, electronic logging devices and even the future of autonomous vehicles were in the spotlight Wednesday afternoon at the annual FTR Transportation Conference in Indianapolis, as three trucking fleet people spoke on a panel about the challenges they face in today’s uncertain trucking environment.
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Profit for less-than-truckload provider YRC Worldwide Inc. fell nearly 30% in the second quarter from a year earlier, despite increased tonnage per day moved at both its national and regional operations. Heartland Express saw profit and revenue drop, though its operating ratio was the best in two years.
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Financial losses for YRC Worldwide Inc., parent to both national and regional less-than-truckload carriers, more than doubled in the first quarter of the year despite a small upturn in revenue.
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The parent of less-than-truckload carrier YRC Freight and others managed to reduce its losses in the final quarter of 2016 while a truckload carrier reported a loss for both the final three months of last year and all of 2016.
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The latest batch of fleet earning reports from the fourth quarter are in, with three major fleets reporting revenue dips and a fourth signaling that it will have similar news when its formal report is released next month.
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Earnings for the parent of the mainly less-than-truckload carrier YRC Freight and others turned in a smaller third quarter numbers late Thursday, while one logistics operator also reported its profit is down from a year ago.
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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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UPDATED -- Another day, another raft of earnings reports on Thursday from the nation’s publicly owned trucking companies. Continuing a trend this first quarter, the companies' numbers are as varied as the services they offer.
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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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