
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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Earnings season continued on Thursday, with results reported by the world’s largest truck manufacturer along with results from one component supplier and a major owner-operator trucking company.
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Two freight transportation providers, Forward Air and Hub Group, along with dealer group Rush Enterprises, saw second quarter earnings drop.
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The parent to Volvo Trucks North America, Sweden’s Volvo Group, saw its second quarter net income double from a year ago, due in part to increased North American sales.
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Marten Transport Ltd. on Tuesday reported a 5.4% increase in net income to $8.4 million, or 25 cents per diluted share, for the second quarter of the year.
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The second quarter corporate earnings season kicked off Wednesday afternoon, with numbers from the truck wheel and lightweight metals producer Alcoa Inc. (AA) showing mixed results.
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Navistar International has reported a second-quarter 2015 net loss of $64 million, which compares favorably to the net loss of $297 million that it incurred for the same period a year ago, and showed a 38% increase in sales of Class 6-8 trucks and buses.
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Natural gas engine provider Westport Innovations Inc. said last week it thinned financial losses in the second quarter of the year despite a 30% drop in revenue.
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The trucking company Quality Distribution Inc. has reached an agreement to be acquired by the private investment fund Apax Partners.
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According to the Florida-based company this was the result of an “intangible asset impairment charge” of just over $2 million, with an with an after tax impact to net income of $1.265 million, relating to its November 2013 purchase of Pipeline Transportation.
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