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The first reading on how well the American economy performed in the second quarter of the year shows it accelerated well ahead of the first quarter pace, according to the U.S. Commerce Department.
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UPDATED -- The parent to several trucking companies moved from a loss in the second quarter of last year to a profit in the most recent quarter.
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Five more trucking companies have reported quarterly earnings – but not all showed gains over a year ago.
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Wabash's second quarter earnings showed a big leap in profitability from a year ago. Meritor results were hampered by a strong dollar and weak overseas markets but were up on an adjusted basis.
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UPDATED -- Economic Watch: Consumers are not feeling quite as rosy about the U.S. economy, while a separate report shows a rebound in economic conditions for the U.S. services sector.
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Trucking and parcel delivery giant UPS reported a huge increase in its second quarter profit – 170% – despite a slight drop in revenue.
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Truck engine manufacturer Cummins increased both second quarter revenue and net income, while truck and engine maker Paccar reported record quarterly net income.
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Truckload giant Swift Transportation increased its second quarter profit by more than 20% from a year ago despite an overall downturn in revenue.
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Truck component manufacturer Accuride achieved record profitability in the second quarter of the year and a big improvement from the first quarter.
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New orders and shipments for manufactured durable goods rebounded in June following two straight monthly drops, while business investment also turned around, according to the Commerce Department.
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