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Daimler AG, parent company to names such as Freightliner, Western Star, Detroit Diesel, Mercedes, Fuso and others, reported on Friday that its first quarter profit slipped – despite record-setting vehicle sales.
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While Schneider National Inc. and Saia Corp. reported better numbers, USA Truck Inc. returned to only partial profitability and YRC Worldwide Inc. reported losses in both time frames.
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Covenant Transportation Group, Inc. (NASDAQ/GS: CVTI) reported on July 25 second quarter earnings of $0.08 per share, marking. That’s down 60% year over year, but according to analysis by Stifel, that result is “right in line with the Street consensus of $0.06.”
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One of the country’s leading LTL carriers, Old Dominion Freight Line scored high in the second quarter, reporting a 21.4% increase in earnings per diluted share to $1.19 on revenue of $839.9 million.
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Daimler AG, parent of Daimler Trucks North America and Mercedes-Benz Vans USA, reported on July 26 a 15% jump in profit for the second quarter, largely on the strength of its global Mercedes-Benz luxury car business.
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Paccar, parent of Kenworth and Peterbilt, has announced that for the second quarter of 2017, it achieved net sales and financial services revenues of $4.70 billion-- compared to $4.41 billion in the same period a year ago.
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Trucking and logistics provider Werner Enterprises has reported that its earnings climbed 27% for the second quarter, compared to the same period a year ago.
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At a time when many trucking companies are reporting lower third quarter earnings, Swift Transportation bucked the trend, but truck and engine maker Paccar saw its earnings fall.
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Earnings for two of the world’s biggest truck makers varied greatly in the third quarter, according to figures released on Friday, and both had a dim view of upcoming sales in the North American market.
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Navistar International Corp. released fiscal third quarter financials on Thursday morning showing its losses grew in the third quarter of the year while revenue fell 18%, following news on Tuesday that Volkswagen is taking a minority interest in the Illinois-based company.
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