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A load of publicly held trucking fleets released first quarter 2018 earnings – Forward Air, Knight-Swift, Landstar, Covenant, Echo Global, and Heartland – with all but one reporting better numbers than the same time a year ago.
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Most trucking companies so far this earnings reporting season are reporting big gains in profits in both the fourth quarter of last year as well as for all of 2017. This is due in large part to tax reform legislation, and numbers released Wednesday were no exception.
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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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Yet another indicator of the upswing in trucking mergers and acquisitions is word that Forward Air Corporation has announced its wholly owned subsidiary, Central States Trucking Co., will buy substantially all of the assets of Atlantic Trucking Co., a Charleston, S.C.-based privately held provider of intermodal and drayage services.
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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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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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Forward Air Corp. has become the latest trucking operation to lower expectations ahead of releasing its next earnings report.
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Profits for two trucking companies turned lower in the second quarter of the year while a third moved into the red, according to newly released earnings reports.
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UPDATED -- Truckload carrier Swift Transportation Co. saw its net income decline in the first quarter of the year while profit for the time definite surface transportation and logistics provider Forward Air Corp. more than doubled as refrigerated hauler Marten Transport Ltd. reported a boost in two ways.
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A record-setting fourth quarter for trucking company Forward Air Corp. has it looking forward to a banner 2016, while Rush Enterprises is cost-cutting to compensate for the low truck sales in the energy sector in 2015.
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