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The parent to less-than-truckload carrier ABF Freight moved into the red in the first quarter of the year, according to its earnings report released Friday, as many other companies are also reporting weaker performances compared to a year ago
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Trucking was only one of two transportation modes that carried more U.S. freight by value with NAFTA trade partners Canada and Mexico in February than a year ago, increasing 4.7%.
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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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Feelings that the American economy slowed to a crawl in the first quarter of the year were confirmed on Thursday morning when the Commerce Department released its report showing the gross domestic product increased at an annual rate of just 0.5%.
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The wave of first quarter earnings reports from the nation’s publicly owned fleets continued on Wednesday, with three out of four lower than a year earlier due mainly to less freight to move.
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The number of available spot market loads slipped 2% while posted capacity was flat during the week ending April 23, according to DAT Solutions and it of load boards, leaving rates nearly unchanged.
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Setting new records in a variety of different categories allowed trailer manufacturer Wabash National Corp. to report more than doubled first quarter profit over a year ago.
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Three more companies offering trucking and related services issued first quarter earnings reports on Tuesday, with each reporting very different results.
Read More →Orders for durable goods recovered only somewhat in March following a big decline, and a key economic indicator within the measure failed to improve, adding to recent indications a slump in manufacturing is far from over.
Read More →The first look at April business conditions in the nation’s sluggish manufacturing sector shows the situation is improving little. Other readings are slightly more encouraging.
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