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The trucking company USA Truck reported on Friday that its financial picture turned slightly negative in the third quarter of the year as it continues to move to a more asset-light business
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The parent of a company primarily known for its less-than-truckload fleet saw its profit fall by nearly a third while a separate carrier that provides long-haul truckload and other services moved into the red, according to newly released earnings numbers.
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While many trucking operations have reported lower third quarter profits during this earnings season, there were two exceptions on Wednesday.
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Earnings for the parent of the mainly less-than-truckload carrier YRC Freight and others turned in a smaller third quarter numbers late Thursday, while one logistics operator also reported its profit is down from a year ago.
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At a time when many trucking companies are reporting lower third quarter profits, two report slight gains – but they remain the exception rather than the rule.
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As more trucking companies report third quarter earnings, most are showing profits are down from the same time a year ago – but there are a few exceptions.
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At a time when many trucking companies are reporting lower third quarter earnings, Swift Transportation bucked the trend, but truck and engine maker Paccar saw its earnings fall.
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UPDATED -- The third quarter earnings season continued on Thursday with the release of reports showing more trucking companies had lower earnings compared to a year ago, with another held on.
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Profit for the Tennessee-based parent to Covenant Transport plummeted in the third quarter, while Landstar System recorded only a 7.6% decline, according to numbers released late Wednesday afternoon.
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Third quarter earnings for the nation’s trucking companies began rolling in on Monday, following reports of lowered expectations as several negative factors weigh on the nation’s freight markets.
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