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Load-to-truck ratios on the spot truckload freight market got a bump during the week ending Jan. 30, possibly due to pent-up demand after the previous week’s storms, but that failed to materialize into better freight rates which were also down for the entire month.
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Load-to-truck ratios on the spot truckload market got a bump during the week ending Jan. 30, possibly due to pent-up demand after the previous week’s storms, but that failed to materialize into better freight rates which also came in lower for the entire month.
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UPS Inc. reported its profit skyrocketed in the fourth quarter of the year, totaling $1.33 billion compared to $453 million a year earlier as the company also beat an earnings forecast. USA Truck and Ryder also saw higher profits.
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While activity in the nation’s manufacturing improved in January from the month before, according to reports on Monday, there is disagreement as to whether this sector is expanding or shrinking.
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Overall U.S. economic activity eased back on the gas considerably in the final quarter of last year while it expanded in 2015 at the same pace as the year before.
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The value of trans-border freight movements between the U.S. and its neighbors took a steep decline, according to new U.S. Transportation Department numbers, while Canada regained its historical rank as top North America trade partner after falling behind Mexico.
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The asset-light trucking and logistics provider Landstar Thursday reported a decline in its fourth quarter profit, but it was higher than expected, and the company also improved its annual performance.
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New orders for long-lasting durable goods plunged in December while shipments also fell, according to an advance report on Thursday from the U.S. Commerce Department, following a decision by the Federal Reserve to not raise a key interest rate.
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UPDATED -- Net income for two trucking and logistics companies experienced pullbacks in the fourth quarter of the year, according to earnings reports released Wednesday.
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Earnings for the trucking company Heartland Express Inc. (NASDAQ: HTLD) declined in both the final quarter of 2015 and all of last year due to less business while Patriot Transportation Holding Inc. (NASDAQ: PATI) saw an improvement due in large part to a legal settlement.
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