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The parent of a company primarily known for its less-than-truckload fleet saw its profit fall by nearly a third while a separate carrier that provides long-haul truckload and other services moved into the red, according to newly released earnings numbers.
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While many trucking operations have reported lower third quarter profits during this earnings season, there were two exceptions on Wednesday.
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New economic reports show the nation’s manufacturing sector continues improving along with consumer spending-- the latest signs the overall economy is gaining traction-- while a separate report shows construction activity has eased, but only just a bit.
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Growth in the U.S. economy accelerated in the third quarter of the year, posting its biggest gain in two years, according to Commerce Department numbers released Friday morning. However, a separate report shows consumer confidence slipped.
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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 total value of U.S. freight moved between Canada and Mexico during August posted its first year-over-year increase since December 2014, according to new Transportation Department figures.
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At a time when many trucking companies are reporting lower third quarter profits, two report slight gains – but they remain the exception rather than the rule.
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Shipments and new orders for long-lasting manufactured durable goods were varied in September. While home sales continue growing, one key economic indicator fell.
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As more trucking companies report third quarter earnings, most are showing profits are down from the same time a year ago – but there are a few exceptions.
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New preliminary numbers suggest U.S. manufacturers started the fourth quarter in a strong fashion, and other numbers point to an improving overall economy in the final three months of the year -- with manufacturing and housing, two key areas related to truck freight, helping lead the way.
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