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Earnings for two of the world’s largest truck makers moved lower in the first quarter, according to earnings reports issued Friday.
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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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A truck component manufacturer and one of the nation’s largest truck dealer networks continue the trend of many businesses reporting lower first quarter earnings as truck sales are down from a year ago.
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A decline in available freight and an increase in truck capacity pushed spot truckload rates down across all three equipment types during the week ending April 16, according to DAT Solutions and its network of load boards.
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A measure of truckload linehaul rates moved lower last month compared to a year earlier for the first time since May 2010 as intermodal freight rates continued their downward slide.
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The number of housing starts in the U.S. fell more than expected in March, but home builder confidence in the market remains strong, according to two new reports.
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Growth in freight shipments slowed in March, according to the latest Cass Freight Index Report, while freight spending turned negative – but a longer-term view of cargo movements and the overall economy appears at least somewhat brighter.
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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.
Read More →Industrial production decreased for the second month in a row during March, adding another sign the economy sputtered in the first quarter of the year.
Read More →A rebound in fuel prices helped push overall retail prices higher in March,, but inflation remains about as far from a threat as possible to the U.S. economy, according to a new Commerce Department report.
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