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Financial losses for YRC Worldwide Inc., parent to both national and regional less-than-truckload carriers, more than doubled in the first quarter of the year despite a small upturn in revenue.
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One of the biggest names in trucking reported first quarter earnings this week showing it had turned its fortunes around for the better, while losses grew at another fleet and a third’s financial problems were surrounded not only by questions of its accounting practices but also about its long-term survival.
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Mainly less-than-truckload carrier Saia Inc. saw its profit move higher in the first quarter of the year while multi-trucking service provider Universal Logistics Holdings Inc. saw lower net income despite more revenue.
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Less-than-truckload carrier Old Dominion Freight Line Inc. reported better profit and revenue in the first quarter of the year while UPS Inc. reported earnings showing growth across its business segments
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At a time when many publicly held trucking companies are reporting lower, if not sharply lower, first quarter profits, one stood out among the herd of numbers released Wednesday while another saw a slight improvement in earnings.
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Profits for two trucking operations in the first quarter of the year fell dramatically, both saying they battled a tough pricing environment and excess capacity.
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First quarter earnings for trucking company Heartland Express Inc. edged lower from the same time a year ago as revenue posted a significant decline, according to figures released Friday by the company.
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Profit for trucking and logistics provider Werner Enterprises Inc. fell 20% in the first quarter of the year compared to the same time in 2016 while refrigerated carrier Marten Transport Ltd. reported the same earnings as a year ago.
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The first quarter earnings reporting season for trucking kicked off on Monday morning when multi-modal freight transportation provider J.B. Hunt Transportation Services Inc. released numbers showing slight improvements from the same time a year ago.
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XPO Logistics moved well into the black for the fourth quarter and full year 2016, with a number of fourth-quarter metrics setting company records as strong e-commerce offset weak intermodal numbers.
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