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One of the largest owners of flatbed and specialized trucking services providers moved from a profit to a loss in the second quarter of the year while reporting its second straight quarterly loss since becoming a publicly traded company early in 2017.
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Profit for less-than-truckload provider YRC Worldwide Inc. fell nearly 30% in the second quarter from a year earlier, despite increased tonnage per day moved at both its national and regional operations. Heartland Express saw profit and revenue drop, though its operating ratio was the best in two years.
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XPO Logistics' profit during the second quarter was 11.7% higher than a year ago, as a separate report said the company is looking to greatly expand its business in the next year or two. In contrast, USA Truck saw its second quarter loss more than double as revenue declined.
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Trucking, intermodal and logistics services provider Schneider National Inc. on Tuesday reported its second quarter profit increased 5.2% from a year earlier while revenue improved 8.1%.
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Marten Transport Ltd. on July 20 reported its second quarter net income increased 7.2% from a year earlier to $9.1 million, or 17 cents per share, which is 2 cents better than analysts' expectations.
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Multi-modal freight transportation services and third-party logistics provider C.H. Robinson Worldwide Inc. reported its second quarter net income fell 22.4% from a year ago despite a 12.4% hike in total revenue.
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The second quarter earnings season for trucking kicked off on Monday morning with J.B. Hunt Transport Services Inc. reporting a small decline in profitability.
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The truckload, intermodal and logistics services provider Schneider National Inc. reported its first earnings since going public last month, showing a decline in profitability, while another company has revised its earnings, pushing it into the red.
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Flatbed carrier group Daseke Inc. has released its first earnings report since becoming a publicly traded company earlier this year. It shows that losses moved higher, but the company’s expectations remain high.
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The parent company to less-than-truckload carrier ABF Freight and others saw its first quarter losses grow despite healthy shipment growth and improved pricing, while a truckload carrier saw lower profits but beat expectations.
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